证券简称：天音控股 证券代码：000829 公告编号：2025-042 号 一、审议通过《关于延长公司 2023 年度向特定对象发行 A 股股票股东大会 决议有效期的议案》 公司已分别于 2023 年 8 月 8 日、2023 年 8 月 23 日召开了第九届董事会第 二十次会议、2023 年第四次临时股东大会会议，审议通过《关于公司 2023 年度 向特定对象发行 A 股股票方案的议案》《关于提请股东大会授权董事会全权办 理 2023 年度向特定对象发行股票相关事宜的议案》等相关议案，公司 2023 年度 向特定对象发行股票股东大会有效期及股东大会授权董事会办理相关事宜的有 效期为自公司 2023 年第四次临时股东大会审议通过之日起 12 个月。 2024年8月6日，公司召开第九届董事会第二十八次会议，审议通过《关于 延长公司2023年度向特定对象发行A股股票股东大会决议有效期的议案》《关 于提请股东大会延长授权董事会全权办理2023年度向特定对象发行股票相关事 宜有效期的议案》，将该股东大会决议有效期自原有期限延长12个月，即延长 至2025年8月22日，将股东大会授权董事会全权办理本次发行相关事宜有效期 ...

证券简称：天音控股 证券代码：000829 公告编号：2025-041 号 天音通信控股股份有限公司 第九届董事会第三十九次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 关联董事黄绍文、王新利、王汉华进行了回避表决。 表决结果：6票同意，0票反对，0票弃权。 本议案已经公司2025年第三次独立董事专门会议审议通过。 本议案尚需提交公司股东大会审议。 二、审议通过《关于提请股东大会延长授权董事会全权办理 2023 年度向特 定对象发行股票相关事宜有效期的议案》 天音通信控股股份有限公司（以下简称"公司"）第九届董事会第三十九次会 议于 2025 年 8 月 4 日以通讯方式召开。会议通知于 2025 年 7 月 30 日以邮件方 式发送至全体董事。应出席会议的董事 9 人，实际出席会议的董事 9 人。公司同 时将会议审议事项内容告知公司监事及高管人员。本次会议的通知、召开以及参 会董事人数均符合《公司法》和《公司章程》的有关规定，本次会议审议通过了 如下议案： 一、审议通过《关于延长公司 2023 年度向特定对象发行 A 股股票股东大会 决议有效 ...

证券之星消息，7月31日专业连锁板块较上一交易日下跌2.06%，爱婴室领跌。当日上证指数报收于 3573.21，下跌1.18%。深证成指报收于11009.77，下跌1.73%。专业连锁板块个股涨跌见下表： 从资金流向上来看，当日专业连锁板块主力资金净流出2.0亿元，游资资金净流入4682.17万元，散户资金 净流入1.53亿元。专业连锁板块个股资金流向见下表： | 代码 | 名称 | 主力净流入 (元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 300622 博士眼镜 | | 1282.50万 | 4.86% | -1219.20万 | -4.62% | -63.29万 | -0.24% | | 000829 天音控股 | | 970.88万 | 4.96% | 121.12万 | 0.62% | -1091.99万 | -5.58% | | 300022 吉峰科技 | | -31.01万 | -0.25% | 797.26万 | 6.50% | - ...

Group 1: Macro Policy Insights - The Central Political Bureau meeting on July 30 emphasized the need for continuous and stable macro policies to support high-quality development in the context of the 15th Five-Year Plan preparation [1][20][22] - The meeting highlighted the importance of domestic demand as a key driver, with the introduction of a parenting subsidy program amounting to approximately 90 billion yuan, marking a significant direct cash subsidy to the public [1][21] - The meeting also indicated a shift in focus towards urban renewal as a new policy goal, alongside enhancing the attractiveness and inclusivity of the domestic capital market [1][22] Group 2: Credit Market Analysis - The credit market is expected to experience a stable supply in the second half of the year, with favorable liquidity conditions supporting the bond market [2][24][25] - There is a discussion around the potential risks of credit spread compression, with a focus on the need for liquidity management and position adjustments [2][25] - The credit market has shown resilience, with limited widening of credit spreads despite recent market adjustments, suggesting a cautious outlook for the third quarter [2][25] Group 3: Chemical Industry Developments - Recent policies aimed at addressing "involution" in the chemical industry include stricter cost regulation and adjustments to pricing mechanisms, indicating a shift towards more sustainable competition [3][28] - The analysis of various sub-sectors within the chemical industry suggests that those with high concentration and significant losses are more likely to be targeted for policy interventions [3][28][29] - Key sub-sectors identified for potential breakthroughs include soda ash, polyurethane, and organic silicon, which meet multiple criteria for policy focus [3][29] Group 4: Food and Beverage Sector Insights - The recent listing of Jiyuan Group, a leading supplier of HMB raw materials, highlights the growth potential in the muscle health market, driven by increasing demand from aging populations [30][31] - The company is projected to achieve a revenue growth of 12.3% in 2024, with a significant portion of its income derived from overseas markets [30][31] - The focus on innovative nutritional products positions the company well within the expanding sports nutrition and joint health segments [30][33]

证券之星消息，7月30日专业连锁板块较上一交易日上涨1.12%，爱婴室领涨。当日上证指数报收于 3615.72，上涨0.17%。深证成指报收于11203.03，下跌0.77%。专业连锁板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 从资金流向上来看，当日专业连锁板块主力资金净流出1.14亿元，游资资金净流出1537.8万元，散户资金 净流入1.29亿元。专业连锁板块个股资金流向见下表： | 代码 | 名称 | 主力净流入 (元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 002416 | 爰施德 | 3591.67万 | 6.73% | -638.60万 | -1.20% | -2953.07万 | -5.53% | | 000829 | 天音控股 | 12.27万 | 0.09% | -240.34万 | -1.69% | 228.07万 | 1.60 ...

| 代码 | 名称 | 主力净流入 (元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 300755 华致酒行 | | > 299.09万 | 1.85% | -766.02万 | -4.73% | 466.93万 | 2.89% | | 002416 | 爱施德 | -538.72万 | -1.66% | 576.34万 | 1.78% | -37.61万 | -0.12% | | 000829 天音控股 | | -1214.55万 | -8.09% | 324.99万 | 2.16% | 889.56万 | 5.93% | | 300022 | 吉峰科技 | -2411.59万 | -14.46% | 639.72万 | 3.84% | 1771.87万 | 10.62% | | 300622 博士眼镜 | | -5660.07万 | -15.43% | -2158.21万 | -5.88% | 7818.28万 | 21.31% | | 6032 ...

市场人士分析，作为天音控股的核心业务，通信产品分销业务占营收超80%，该板块上半年受消费电子 需求低迷拖累，分销量价齐跌。尤其传统手机产品在AI技术迭代期遭遇消费者持币观望，导致销售收 入与毛利率同步下滑。 整体毛利率徘徊在2%-3% 值得注意的是，天音控股整体毛利率长期徘徊在2%至3%，今年一季度为2.66%。市场人士表示，在市 场收缩期，天音控股这种"高规模、低利润"的分销模式缺乏缓冲空间，微小波动即可导致盈利大幅下 滑。 近日，天音控股（000829.SZ）发布2025年半年度业绩预告，预计实现营收430亿元至470亿元，同比下 降7.94%至15.77%，较上年同期的510.52亿元显著缩水；归属上市公司股东净利润预计亏损5000万元至 6500万元，同比跌611.44%至764.87%。 核心业务占营收超80% 公司明确将业绩滑坡归因于通信产品分销业务的疲软。天音控股表示，本报告期内，业绩下滑的主要原 因是今年上半年通信产品分销业务受市场销售环境影响，较上年同期销售收入减少，毛利率下降。 此外，天音控股自建品牌"易修哥"，通过维修业务切入手机回收、二手机销售及新机导流，打造"一网 一平台"新零售体系 ...

Investment Rating - The report assigns a "Hold" rating for the company, marking the first coverage [5]. Core Insights - The company is a leading distributor in the 3C product sector, with a diversified business model that benefits from opportunities in the AI-driven consumer electronics industry and value chain restructuring [1][12]. - The company has experienced a short-term revenue decline but is expected to benefit from a recovery in the smartphone market and the growth of its e-commerce business [2][20]. - The company has established a strong marketing network and deep partnerships with major smartphone brands, which positions it well for future growth [43][59]. Summary by Sections 1. Company Overview and Business Diversification - The company has expanded its business from mobile phone distribution to include smart terminal sales, e-commerce, lottery, mobile internet, and mobile resale, becoming a large conglomerate [1][12]. - In 2024, the company reported a revenue of 840.38 billion yuan, a decrease of 11.38% year-on-year, and a net profit of 31.18 million yuan, down 62.72% year-on-year [20]. 2. Smartphone Market Recovery and E-commerce Opportunities - The global smartphone market is projected to recover in 2024, with a 7% increase in shipments compared to 2023, reaching 1.22 billion units [2][29]. - The company has a well-established distribution network and is actively expanding its e-commerce presence, with a significant increase in the number of stores under its e-commerce subsidiary, reaching 446 stores, an 80% increase from 2023 [2][52]. 3. Strategic Partnerships and Channel Development - The company maintains deep partnerships with leading smartphone brands such as Apple, Huawei, and Samsung, which enhances its market position [43][45]. - The company has developed a comprehensive marketing network in China, with over 2,311 managed stores and a strong online presence through platforms like JD.com and Douyin [43][45]. 4. Financial Forecast and Investment Recommendations - The company is expected to see a gradual recovery in net profit, with projections of 0.01 billion yuan in 2025, 0.64 billion yuan in 2026, and 0.94 billion yuan in 2027 [59]. - The report emphasizes the company's significant scale advantages and its successful expansion into e-commerce, supporting the "Hold" investment rating [59].

Group 1 - The company is diversifying its business by expanding into various sectors, including retail e-commerce and mobile phone distribution, following acquisitions such as Shanghai Nengliang in 2018 and WIKO in December 2021 [1] - The company's revenue faced short-term pressure, with 2024 revenue reported at 84.038 billion, a year-on-year decrease of 11.38%, and a net profit of 31.1839 million, down 62.72% [1] - In Q1 2025, the company reported revenue of 22.402 billion, a decline of 14.40%, and a net loss of 28.5208 million, with a significant year-on-year drop of 279.03% [1] Group 2 - The global smartphone market is expected to recover, with a projected 2024 shipment volume of 1.22 billion units, reflecting a 7% increase from 2023 [2] - The company has established a strong distribution network in China, enhancing its online and offline sales capabilities, including partnerships with major e-commerce platforms [2] - The number of stores under the company's e-commerce business has increased by 80% to 446, with 95 stores achieving over 50 million in sales, marking a 102% year-on-year growth [2] Group 3 - The company has launched new products under the WIKO brand, including the Hi畅享70 Plus and Hi MateBook series, capitalizing on market opportunities left by Huawei's shift to HarmonyOS [3] - The company is focused on deepening collaborations with leading smartphone brands while expanding its online e-commerce platform [4] - Profit forecasts for the company indicate net profits of 0.01 billion, 0.64 billion, and 0.94 billion for 2025-2027 [5]

从增持金额看，近5日增持金额在千万元以上的有10家，增持金额最多的是川投能源，其间累计增持 4523.90万股，增持金额合计7.31亿元；其次是天音控股，增持量为1752.00万股，增持金额1.79亿元；东 湖高新近5日获股东增持1.22亿元，增持金额位居第三。 板块分布显示，近5个交易日重要股东增持股中，创业板有3只，主板包含10只，科创板有2只，增持金 额上，创业板增持2981.21万元，主板增持11.70亿元，科创板增持3086.11万元。行业方面，重要股东增 持股主要集中在医药生物、基础化工等行业，分别包含3股、2股。 市场表现方面，获股东增持个股近5日平均上涨1.85%，整体强于其间沪指表现。从个股看，近5日涨幅 居前的有融捷股份、南模生物、杭氧股份等，涨幅分别为11.69%、8.74%、5.74%。跌幅居前的有中铁 装配、天音控股等，分别下跌5.46%、3.00%。 证券时报·数据宝以股权变动日为基准进行统计，近5个交易日（7月14日~7月18日）共有15家公司股份 获重要股东增持，累计增持数量达9754.19万股，增持金额合计12.30亿元。同期共有124家公司重要股东 涉及减持，合计减持金额8 ...