Core Insights - The role of the board secretary is crucial in connecting investors with listed companies, particularly in capital operations [1] - In 2024, the total compensation for board secretaries in A-share listed companies reached 4.086 billion yuan, with an average annual salary of 754,300 yuan [1] Industry Overview - A total of 73 listed companies in the building materials sector disclosed board secretary information, with overall revenue in 2024 amounting to 708.449 billion yuan, a year-on-year decline of 12.3% [1] - The net profit attributable to shareholders was recorded at 18.836 billion yuan, which is a significant drop, nearly halving compared to 2023 [1] - Only about 30% of companies in this sector reported increases in both revenue and net profit [1] Compensation Analysis - The average annual salary for board secretaries in the building materials sector in 2024 was 666,100 yuan, with 34 secretaries earning above this average [2] - The median salary was 630,200 yuan, with the highest and lowest salaries differing by 2.0166 million yuan [2] - Approximately 18.1% of board secretaries earned over 1 million yuan, while the lowest-paid secretary, Yu Haokun from Jinjing Technology, earned only 191,800 yuan [2] Salary Trends - Compared to 2023, the average and median salaries for board secretaries in the building materials sector decreased by 2.2% and 3.9%, respectively [2] - Among those in office for over a year, 29 secretaries saw a decrease in salary, with the most significant drop being 797,000 yuan for Qin Qing from Hainan Ruize [2] - Conversely, 26 secretaries experienced salary increases, with notable gains of 501,500 yuan and 518,200 yuan for Wang Chuanqiu from Shandong Fiberglass and Huang Dunxia from International Composite Materials, respectively [2] Top Earners - Ding Chengche from China Jushi topped the salary list with 2.0192 million yuan, significantly higher than the second-highest, Deng Lingyun from Qibin Group, who earned 1.772 million yuan [3] - The lowest-paid secretary with over a year of service was Yu Haokun from Jinjing Technology, earning 191,800 yuan and holding no company shares [2][3] - Among the top 10 earners, one secretary, Hu Bingfang from Tibet Tianlu, faced regulatory issues related to financial reporting inaccuracies [3]

Core Viewpoint - Tianshan Co. has obtained several certifications from the American Petroleum Institute, indicating its capability to produce oil well cement that meets international standards [1] Group 1 - The company has acquired the APIQR certificate, Q1 certificate, and TS/29001 certificate, demonstrating its full range of oil well cement production capabilities [1] - The products of the company comply with international quality management systems and production specifications [1]

Group 1 - The core viewpoint of the article highlights that Tianshan Co. is actively managing its operations and focusing on opportunities arising from major national projects, particularly in the hydropower sector along the Yarlung Tsangpo River [1] - Tianshan Co. is recognized as the domestic leader in producing a wide variety of cement products, including being the largest producer of special and functional cement-based materials [1] - The company emphasizes its capability to provide high-performance, low-carbon, and high-functionality special cement products, along with quality R&D services, to support key national engineering projects [1] Group 2 - Tianshan Co. is closely monitoring the progress of relevant projects and is committed to participating in procurement tenders to supply high-quality products and services [1]

金融界消息 截至2025年7月30日收盘，天山股份（000877）报收于5.4元，下跌0.37%，换手率0.52%， 成交量37.29万手，成交金额2.02亿元。 天眼查商业履历信息显示，天山材料股份有限公司，成立于1998年，位于乌鲁木齐市，是一家以从事非 金属矿物制品业为主的企业。企业注册资本711049.1694万人民币，实缴资本576935.29万人民币。公司 法定代表人为赵新军。 通过天眼查大数据分析，天山材料股份有限公司共对外投资了36家企业，参与招投标项目5000次，知识 产权方面有商标信息29条，专利信息33条，此外企业还拥有行政许可21个。 来源：金融界 资金流向方面，今日主力资金净流入2076.83万元，占比成交额10.3%。其中，超大单净流入645.71万 元、占成交额3.2%，大单净流入1431.13万元、占成交额7.1%，中单净流出流出1863.52万元、占成交额 9.24%，小单净流出213.31万元、占成交额1.06%。 天山股份最新一期业绩显示，截至2025一季报，公司营业总收入149.47亿元、同比减少8.64%，归属净 利润149377.20万元，同比增长22.33%，扣非 ...

Core Viewpoint - Tianshan Co., Ltd. has confirmed its capability to produce API standard oil well cement, having obtained various international certifications, which positions the company as a leader in the specialized cement industry in China [1]. Group 1: Company Capabilities - Tianshan Co., Ltd. is recognized as the domestic company with the most diverse range of cement products and is the largest producer of special and functional cement-based materials [1]. - The company has achieved certifications from the American Petroleum Institute (API), including APIQR, Q1, and TS/29001, demonstrating its compliance with international standards for oil well cement production [1]. Group 2: Industry Context - Oil well cement is identified as a critical foundational material that has developed alongside China's petroleum industry, highlighting the importance of this product in the sector [1].

Group 1 - The issuer, Tianshan Materials Co., Ltd., has revised its Articles of Association, eliminating the supervisory board and transferring its powers to the audit committee of the board of directors [1] - The revision has been approved by the issuer's decision-making body and is in compliance with relevant laws and regulations [2] - The changes will not adversely affect the issuer's operations, debt repayment capacity, or daily management, and do not require a bondholders' meeting [2] Group 2 - China International Capital Corporation will ensure that the issuer adheres to information disclosure requirements and will monitor the impact of these changes on the issuer and bondholders [2]

债券简称： 24 天山 K1 债券代码：148712.SZ 债券简称： 24 天材 K3 债券代码：148759.SZ 中信证券股份有限公司 关于天山材料股份有限公司修订 《公司章程》的临时受托管理事务报告 主承销商/债券受托管理人 2025 年 7 月 重要声明 本报告依据《公司债券发行与交易管理办法》（以下简称"管理办法"）、 《公司债券受托管理人执业行为准则》《新疆天山水泥股份有限公司2024年面向 专业投资者公开发行公司债券受托管理协议》以及天山材料股份有限公司（原 "新疆天山水泥股份有限公司"，以下简称"发行人"、"公司"）出具的相关 说明文件等，由本期债券受托管理人中信证券股份有限公司（以下简称"中信证 券"）编制。 本报告仅对公司债券受托的有关事项进行说明，不构成针对公司债券的任何投 资建议。投资者应对相关事宜做出独立判断，而不应将本报告中任何内容据以作为 中信证券所作的承诺或声明。 2 中信证券股份有限公司作为新疆天山水泥股份有限公司 2024 年面向专业投 资者公开发行科技创新公司债券（第一期）（债券简称"24 天山 K1"，债券代 码"148712.SZ"）及天山材料股份有限公司 2024 ...

中国国际金融股份有限公司作为新疆天山水泥股份有限公司 2022 年面向专 业投资者公开发行公司债券（第一期）（品种一）（债券简称：22 天山 01，债券 代码：148071.SZ）的债券受托管理人，持续密切关注对债券持有人权益有重大 影响的事项。根据《公司债券发行与交易管理办法》《深圳证券交易所公司债券 上市规则（2023 年修订）》《公司债券受托管理人执业行为准则》等相关规定及 《受托管理协议》的约定，现就本期债券重大事项报告如下： 一、重大事项具体情况 根据发行人近期披露的《天山材料股份有限公司关于修订<公司章程>的公 告》（以下简称"公告"），发行人债券存续期间发生重大事项，具体情况如下： 近日，天山材料股份有限公司对《公司章程》进行了修订。本次修订后，发 行人不再设置监事会，监事会的职权由董事会审计委员会行使，发行人的监事会 相关制度相应废止。截至本公告披露日，上述事项已经发行人有权决策机构审议 通过。 二、本次变更的影响分析 债券代码：148071.SZ 债券简称：22 天山 01 上述事项符合《中华人民共和国公司法》等法律、行政法规的规定，不会对 发行人经营、偿债能力及日常管理产生不利影响，不涉及 ...

Group 1: Company Insights - The company Honghua Digital Science has announced a forecast for its 2025 half-year report, expecting revenue between 1.02 billion to 1.06 billion yuan, representing a year-on-year increase of 25.01% to 29.91% [3] - The net profit attributable to shareholders is projected to be between 240 million to 260 million yuan, reflecting a year-on-year growth of 19.90% to 29.89% [3] - The company benefits from the accelerated transition from traditional printing to digital printing, leading to sustained order growth and expansion of domestic and international customer bases [1][3] Group 2: Industry Trends - The digital printing equipment sector is experiencing rapid growth, with a projected revenue increase of 114.66% year-on-year for 2024, driven by technological advancements and channel expansion [3] - The textile and printing industry is undergoing a transformation, with digital printing becoming essential for responding to fast fashion demands and reducing processing costs [3] - The construction materials industry in Xinjiang is benefiting from geographical advantages, with cement prices maintaining better stability than the national average, supported by the commencement of the China-Kyrgyzstan-Uzbekistan railway [1][14][41] Group 3: Market Strategy - In Q2 2025, active funds increased their stock positions, particularly in the communication, banking, military, and non-bank sectors, while reducing exposure to food and beverage, automotive, and electric sectors [2][6] - The IPO market is showing signs of recovery, with a significant increase in the number of accepted applications and first-day gains remaining above 220% [9][11] - The construction of the China-Kyrgyzstan-Uzbekistan railway is expected to generate a cement demand of approximately 400-600 million tons, benefiting local cement producers [40][41]

Market Overview - On July 23, the Shanghai Composite Index rose by 0.01%, while the Shenzhen Component Index fell by 0.37%, and the ChiNext Index remained unchanged [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.86 trillion yuan, with over 4,000 stocks declining [1] - Sectors such as hydropower, beauty care, securities insurance, CRO, banking, and small metals saw significant gains, while sectors like Hainan, military industry, ultra-high voltage, and cement experienced declines [1] Focus Stocks - Xue Ren Group experienced a trading halt, with the market's consecutive board height reduced to four for Nanmin Group [3] - Zhibo Design and Shen Shui Planning Institute both achieved a 20% increase for three consecutive boards in the hydropower station concept stocks [3] - Hengli Drilling Tools reached a 30% increase for three consecutive boards in the shield machine concept stocks, while China Railway Construction reached a 20% increase for three consecutive boards [3] Top Net Buy and Sell on Dragon and Tiger List - The top three net buying stocks were Xue Ren Group (244 million yuan), Kailong Co., Ltd. (134 million yuan), and Qingyun Technology (97.91 million yuan) [4] - The top three net selling stocks were Tianshan Co., Ltd. (295 million yuan), China Power Construction (220 million yuan), and Lansheng Co., Ltd. (150 million yuan) [5] - Xue Ren Group's stock surged, with a turnover rate of 32.19% and a trading volume of 2.372 billion yuan, with net buying from the Shenzhen Stock Connect of 164 million yuan [5] Company Developments - Xue Ren Group has developed a comprehensive technical plan for large-scale concrete temperature control needs in its projects and has participated in multiple hydropower projects in the Yarlung Tsangpo River basin [8] - The company’s helium compressor is used in a major national scientific research project, achieving international leading technology in the controlled nuclear fusion field [8] - Xue Ren Group is investing 280 million yuan to build a hydrogen fuel cell system production base, expected to be operational by July 2028, aligning with national hydrogen energy policies [8] Other Notable Stocks - Nanjing New Hundred, involved in innovative drugs and cell immunotherapy, reported a revenue increase of 1.98% to 6.7 billion yuan in 2024 [11] - Zhendong Pharmaceutical, focusing on anti-tumor traditional Chinese medicine, has a leading product in the market and has resolved a significant arbitration issue [15] - Tianshan Co., Ltd. saw a decline of 6.27% with a trading volume of 1.371 billion yuan, while Shangfeng Cement fell by 9.27% with a trading volume of 675 million yuan [12][18]