%% %% 丨证券研究报告丨 公司研究丨点评报告丨天山股份（000877.SZ） [Table_Title] 国内水泥盈利筑底，中期关注海外进展 | --- | --- | --- | --- | --- | |-------------------------------------------------------------------|----------------|--------------------------|-------|-------| | 报告要点 | | | | | | [Table_Summary] 公司披露半年报： 2024H1 公司营业收入 396.99 | 亿元，同比下降 | ；实现净利润 -34.14 亿 | | | 分析师及联系人 [Table_Author] 范超 李金宝 SAC：S0490513080001 SAC：S0490516040002 SFC：BQK473 请阅读最后评级说明和重要声明 天山股份（000877.SZ） cjzqdt11111 相关研究 2024-03-29 [Table_Title2] 国内水泥盈利筑底，中期关注海外进展公司研究丨点评报 ...

| --- | --- | --- | |------------|-------------------------------------|---------------------------------------------------------------------------------| | | | | | 投资者关系 | □特定对象调研 | □分析师会议 | | 活动类别 | □媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □现场参观 | | | | √其他（电话会议） | | | 参与单位名 | | 参会投资者名称（排名不分先后）：国信证券、国泰基金、景顺 | | 称及人员姓 | | 长城基金、银华基金、泰康资管、睿远基金、中加基金、恒越基 | | 名 | Brilliance Asset Management Limited | 金、太平基金、银河基金、华宝基金、中信保诚基金、淡水泉、 、中信证券、上海煜德投 | | | 资、古东管家 | | | | | | | | | | | 时间 | 2024 年 8 月 29 日 | | | 地点 | 电话会 ...

上半年利润转亏，静待弹性释放 公司上半年实现归母净利润-34.14 亿元，同比由盈转亏 公司发布 24 年中报，上半年实现收入/归母净利润 396.99/-34.14 亿元， 同比-25.72%/由盈转亏，实现扣非归母净利润-36.86 亿元，亏损扩大 32.77 亿元。其中 Q2 单季度实现收入 233.48 亿元，同比-24.84%，归母净利润/ 扣非归母净利润分别为-14.90/-15.38 亿元，均由盈转亏，非经常性损益主 要系计入当期损益的政府补助。 上半年净利率转负，盈利或已触底 公司上半年实现毛利率 11.39%，同比-3.70pct，其中 Q2 单季度整体毛利率 13.91%，同比/环比分别-4.60/+6.11pct。24 年上半年期间费用率 17.90%， 同 比 4.54pct ， 其 中 销 售 / 管 理 / 研 发 / 财 务 费 用 率 同 比 分 别 +0.56/+2.55/+0.58/+0.84pct，最终实现净利率-9.39%，同比由正转负，当 前公司盈利或已基本触底，下半年随着水泥旺季到来，盈利有望实现边际 修复。上半年资产负债率 67.16%，同比-0.61pct，资本 ...

天山材料股份有限公司 1、合并资产负债表 天山材料股份有限公司 2024 年半年度财务报表 编制单位：天山材料股份有限公司 2024 年 06 月 30 日 2024 年半年度财务报表 2024 年 8 月 26 日 1 天山材料股份有限公司 2024 年半年度财务报表 3 天山材料股份有限公司 2024 年半年度财务报表 | 租赁负债 | 1,734,119,093.40 | 1,414,511,713.24 | | --- | --- | --- | | 长期应付款 | 2,265,372,977.26 | 2,672,447,626.22 | | 长期应付职工薪酬 | 64,719,000.00 | 64,919,130.00 | | 预计负债 | 2,418,903,972.93 | 2,474,953,515.62 | | 递延收益 | 704,220,136.67 | 699,578,045.68 | | 递延所得税负债 | 2,482,195,281.07 | 2,454,934,494.77 | | 其他非流动负债 | | | | 非流动负债合计 | 87,731,746,562.67 | 7 ...

证券代码：000877 证券简称：天山股份 公告编号：2024-071 天山材料股份有限公司 关于增加 2024 年日常关联交易预计的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载，误导性陈述或重大遗漏。 一、日常关联交易基本情况 本议案无需提交公司股东大会审议。 二、增加 2024 年度公司日常关联交易预计 （一）预计增加日常关联交易类别和金额 1、天山材料股份有限公司（简称"本公司"或"公司"）全资子 公司甘肃中建材供应链管理有限公司（简称"供应链公司"）负责相 关区域集中采购和销售业务，与甘肃祁连山水泥集团有限公司（简称 "祁连山水泥"）发生交易。公司全资子公司新疆聚材电子商务有限 公司主要业务为水泥电子商务平台，亦与祁连山水泥发生交易。公司 高级管理人员王鲁岩担任祁连山水泥董事长、白彦担任祁连山水泥董 事、李雪芹担任祁连山水泥监事，按照《深圳证券交易所股票上市规 则》（简称"《股票上市规则》"）的相关规定，祁连山水泥为本公 司关联法人，本次预计交易构成关联交易，无关联董事。 2、安徽海中环保有限责任公司（简称"安徽海中环保"）专门从 事水泥窑协同处置固废业务，该公司将协 ...

[Company Overview & Financial Summary](index=6&type=section&id=Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides a corporate profile and a summary of key financial data, highlighting a significant performance decline in H1 2024 [Company Profile](index=6&type=section&id=Company%20Profile) Tianshan Materials Co, Ltd (000877.SZ) changed its name to reflect its national presence and extended industry chain - In 2024, the company changed its name from "Xinjiang Tianshan Cement Co, Ltd" to "Tianshan Materials Co, Ltd", while its stock abbreviation "Tianshan Shares" and code "000877" remained unchanged[10](index=10&type=chunk)[11](index=11&type=chunk) [Key Financial Data & Indicators](index=7&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) The company's performance sharply declined in H1 2024, with revenue down 25.72% and a significant net loss of ¥3.41 billion Key Accounting Data and Financial Indicators | Indicator | Current Period | Prior Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 39,699,366,083.32 | 53,443,149,245.54 | -25.72% | | Net Profit Attributable to Shareholders (Yuan) | -3,413,688,995.56 | 141,747,878.89 | -2,508.28% | | Net Profit Attributable to Shareholders (Non-recurring) (Yuan) | -3,686,395,432.31 | -409,662,452.71 | -799.86% | | Net Cash Flow from Operating Activities (Yuan) | 1,524,362,206.38 | 8,610,510,795.59 | -82.30% | | Basic Earnings Per Share (Yuan/Share) | -0.394 | 0.0164 | -2,502.44% | | Weighted Average Return on Equity | -4.14% | 0.17% | -4.31% | | Total Assets (Yuan) | 294,934,855,348.62 | 294,722,350,439.35 | 0.07% | | Net Assets Attributable to Shareholders (Yuan) | 79,993,132,711.32 | 84,147,177,984.63 | -4.94% | - During the reporting period, non-recurring gains and losses totaled **¥273 million**, primarily from government subsidies (¥254 million) and trust management fees (¥60 million)[13](index=13&type=chunk) [Management Discussion & Analysis](index=9&type=section&id=Section%203%20Management%20Discussion%20and%20Analysis) This section analyzes the operating environment, core business performance, financial position, and key risks faced by the company [Operating Environment & Business Overview](index=9&type=section&id=I.%20Main%20Business%20During%20the%20Reporting%20Period) The building materials industry faced severe challenges from a macroeconomic slowdown, leading to a significant decline in the company's sales and profitability - In H1 2024, the cement industry experienced declining demand and low prices, with national cement output **down 10% YoY** to its lowest level since 2011[15](index=15&type=chunk) - The company's main business includes cement, clinker, ready-mix concrete, and aggregates, with annual capacities of **320 million tons**, **380 million cubic meters**, and **230 million tons**, respectively[21](index=21&type=chunk) H1 2024 Sales Volume | Product | H1 2024 Sales | YoY Change | | :--- | :--- | :--- | | Cement | 94.44 million tons | -11.68% | | Clinker | 11.59 million tons | -21.30% | | Ready-mix Concrete | 34.26 million m³ | +1.51% | | Aggregates | 59.38 million tons | -6.38% | [Core Competitiveness](index=13&type=section&id=II.%20Core%20Competitiveness%20Analysis) The company's core strengths lie in its national layout, integrated industry chain, scale advantages, and technological innovation capabilities - Core competitiveness stems from scale, industry chain advantages, technological innovation, group synergies, and brand services[27](index=27&type=chunk) - The company's market presence across **25 provinces**, autonomous regions, and municipalities provides a regional and integrated layout that mitigates risks from local demand fluctuations[27](index=27&type=chunk) [Main Business Analysis](index=13&type=section&id=III.%20Main%20Business%20Analysis) Main business revenue fell 25.72% to ¥39.7 billion, with declining gross margins across all product lines and regions except for overseas operations Business Segment Performance | Business Segment | Revenue (¥ billion) | YoY Change | Gross Margin | Gross Margin YoY Change | | :--- | :--- | :--- | :--- | :--- | | **By Product** | | | | | | Cement & Clinker | 25.21 | -30.98% | 8.82% | -5.64% | | Ready-mix Concrete | 10.79 | -17.20% | 9.83% | -0.81% | | Aggregates | 2.34 | -9.07% | 34.92% | -2.23% | | **By Region** | | | | | | Eastern Region | 14.38 | -12.78% | 11.04% | -4.47% | | Central & Southern Region | 7.49 | -26.82% | 4.35% | -7.32% | | Northern Region | 8.30 | -39.39% | 13.55% | -0.98% | | Western Region | 9.20 | -27.53% | 14.52% | -2.70% | | Overseas Region | 0.34 | -1.35% | 43.93% | +4.01% | [Assets & Liabilities Analysis](index=15&type=section&id=V.%20Assets%20and%20Liabilities%20Analysis) Total assets remained stable at ¥294.94 billion, while long-term borrowings increased, raising their proportion of total assets to 23.33% - Total assets remained stable, increasing slightly by **0.07%** from the beginning of the year, with fixed assets being the largest component at **39.08%**[31](index=31&type=chunk) - Long-term borrowings increased, with their ratio to total assets rising from **21.15% to 23.33%**, an increase of 2.18 percentage points[31](index=31&type=chunk) - As of the period end, **¥10.01 billion** in assets were restricted, mainly consisting of cash for deposits and pledged fixed assets, intangible assets, and accounts receivable financing[34](index=34&type=chunk) [Investment Analysis](index=16&type=section&id=VI.%20Investment%20Analysis) Investment activities continued but at a reduced scale, with a focus on major projects, strategic acquisitions, and debt financing - The investment amount for the reporting period was **¥6.01 billion**, a decrease of **32.82%** year-over-year[35](index=35&type=chunk) - The company is advancing the "Chizhou CNBM New Materials Co, Ltd Annual 40 Million Ton Aggregate Production Base Project" with a total investment of approximately **¥10.61 billion**, which is still under construction[35](index=35&type=chunk)[40](index=40&type=chunk) - Two major equity investments were completed: the acquisition of 100% of Xinjiang Bohai Cement for **¥994 million** and the establishment of Xinjiang Tianfeng Investment Co, Ltd with a **¥210 million** investment (70% stake)[38](index=38&type=chunk) - In H1 2024, the company raised **¥3 billion** by issuing two tranches of technology innovation corporate bonds, all of which was used to repay subsidiary debts[42](index=42&type=chunk)[43](index=43&type=chunk) [Risks and Countermeasures](index=23&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces risks from macroeconomic slowdown, carbon policies, and international operations, which it plans to mitigate through strategic initiatives - The company faces three core risks: 1 Demand fluctuation risk due to macroeconomic slowdown, especially the deep adjustment of the real estate market 2 Risk of increased environmental investment and accelerated inclusion in the national carbon trading market under "dual carbon" policies 3 Uncertainties in international operations, including political, economic, legal, and exchange rate risks[52](index=52&type=chunk)[53](index=53&type=chunk)[55](index=55&type=chunk) - Countermeasures include adhering to the "price-cost-profit" principle to promote price recovery, developing "Cement+" businesses (such as special cements) and international expansion to seek new growth, reducing costs through technological innovation and centralized procurement, and establishing a comprehensive dual-carbon planning and management system[53](index=53&type=chunk)[54](index=54&type=chunk)[56](index=56&type=chunk)[57](index=57&type=chunk) [Corporate Governance](index=25&type=section&id=Section%204%20Corporate%20Governance) This section details changes in directors and senior management, dividend policy, and employee incentive plans during the reporting period [Changes and Incentives for Directors, Supervisors, and Senior Management](index=25&type=section&id=II.%20Changes%20in%20the%20Company's%20Directors,%20Supervisors,%20and%20Senior%20Management) The company experienced board and management changes, decided against a semi-annual dividend, and continued its employee pension plan - During the reporting period, the company appointed Zhang Hua as Vice President, and independent director Zhan Lei resigned upon completing his six-year term, with Kong Weiping elected as the new independent director[60](index=60&type=chunk) - The company plans **not to distribute cash dividends**, issue bonus shares, or convert capital reserves into share capital for the first half of 2024[61](index=61&type=chunk) - As an employee incentive, the company implements an enterprise annuity plan, with **¥98.97 million** accrued during this reporting period[62](index=62&type=chunk) [Environmental & Social Responsibility (ESG)](index=27&type=section&id=Section%205%20Environmental%20and%20Social%20Responsibility) This section outlines the company's performance and initiatives in environmental protection and social responsibility [Environmental Protection](index=27&type=section&id=I.%20Major%20Environmental%20Issues) The company, a key polluter, faced several environmental penalties but invested ¥520 million in protection and advanced its carbon reduction projects - The company and its subsidiaries are classified as key pollutant-discharging units, holding **311 valid pollutant discharge permits** and 269 fixed pollution source discharge registration receipts as of the period end[63](index=63&type=chunk)[65](index=65&type=chunk)[66](index=66&type=chunk) - During the reporting period, the company received **4 administrative penalties** for environmental issues, with total fines of approximately **¥0.99 million**, mainly related to dust control and excessive pollutant emissions[98](index=98&type=chunk) - In H1 2024, the company's environmental protection investment reached **¥520 million**, and it paid **¥66.87 million** in environmental taxes[96](index=96&type=chunk) - The company has made progress in carbon reduction, with Qingzhou Sinoma Cement commissioning the world's largest full-oxy combustion carbon capture demonstration line in the cement industry, capable of capturing **200,000 tons of CO₂ annually**[100](index=100&type=chunk) [Social Responsibility](index=56&type=section&id=II.%20Social%20Responsibility%20Situation) The company fulfilled its social duties through a 50.26% dividend payout ratio, employee development programs, and significant charitable contributions - The company values shareholder returns, implementing a dividend in May 2024 of **¥1.14 per 10 shares** (tax included), representing a **50.26% payout ratio** of net profit attributable to the parent company; cumulative dividends since listing are approximately ¥8.7 billion[102](index=102&type=chunk) - The company actively fulfilled its social responsibilities, with total donations of **¥29.02 million** in H1 2024 and an investment of **¥4.2 million** for poverty alleviation and rural revitalization[104](index=104&type=chunk)[106](index=106&type=chunk) [Important Matters](index=59&type=section&id=Section%206%20Important%20Matters) This section covers the status of commitments, major related-party transactions, significant contracts, and other key corporate actions [Commitment Performance](index=59&type=section&id=I.%20Commitments%20Fulfilled%20During%20the%20Reporting%20Period%20and%20Those%20Overdue%20at%20the%20End%20of%20the%20Reporting%20Period) The controlling shareholder requested an extension to resolve competition issues, while performance commitments from a 2021 asset restructuring were fulfilled - The controlling shareholder, China National Building Material Co, Ltd, and the actual controller, China National Building Material Group, have **postponed their commitment** to resolve the issue of inter-industry competition[108](index=108&type=chunk)[109](index=109&type=chunk) - The performance commitment and impairment test compensation plan for the 2021 major asset restructuring have been **fully implemented**, with the relevant parties completing share buybacks and cash compensation[109](index=109&type=chunk)[110](index=110&type=chunk) [Major Related-Party Transactions](index=69&type=section&id=XI.%20Major%20Related-Party%20Transactions) The company engaged in substantial transactions with related parties, including ¥10.78 billion in purchases and ¥22.85 billion in borrowings from its controlling shareholder Related-Party Transactions | Related Party | Transaction Type | Transaction Content | Amount (¥ million) | % of Similar Transactions | | :--- | :--- | :--- | :--- | :--- | | China National Building Material Group Co, Ltd and its affiliates | Purchase of goods, receipt of services | Purchase of goods, receipt of services | 10,781.36 | 32.15% | | China National Building Material Group Co, Ltd and its affiliates | Sale of goods, provision of services | Sale of goods, provision of services | 374.49 | 0.94% | - The company has significant related-party borrowings with its controlling shareholder and actual controller; as of the period end, the outstanding loan balance from the controlling shareholder, China National Building Material Co, Ltd, was **¥22.85 billion**, and from the actual controller, China National Building Material Group, was **¥122 million**[123](index=123&type=chunk) - The company has substantial deposit and loan transactions with the related party, China National Building Material Group Finance Co, Ltd; as of the period end, the deposit balance was **¥6.57 billion** and the loan balance was **¥4.85 billion**[125](index=125&type=chunk) [Major Contracts and Guarantees](index=73&type=section&id=XII.%20Major%20Contracts%20and%20Their%20Performance) The company manages two cement firms under trust agreements and provided guarantees for subsidiaries totaling ¥7.44 billion, or 9.31% of its net assets - The company manages 100% equity of North Cement Co, Ltd and Gansu Qilianshan Cement Co, Ltd under trust, with a fixed annual management fee of **¥120 million** for Qilianshan Cement[134](index=134&type=chunk)[135](index=135&type=chunk) - As of the end of the reporting period, the company's total outstanding external guarantees (all for subsidiaries) amounted to **¥7.44 billion**, representing **9.31%** of the company's net assets[139](index=139&type=chunk) [Other Major Matters](index=80&type=section&id=XIII.%20Explanation%20of%20Other%20Major%20Matters) The company terminated a planned ¥9.27 billion convertible bond issuance and a major acquisition, potentially impacting future financing and expansion - The company has **terminated** its planned issuance of convertible corporate bonds to unspecified investors, which aimed to raise up to **¥9.27 billion**, and has withdrawn the application documents[145](index=145&type=chunk)[146](index=146&type=chunk) - The company has **terminated** the major related-party transaction involving the acquisition of a controlling stake in the cement business of Ningxia Building Materials Group Co, Ltd[130](index=130&type=chunk) [Share Capital Changes & Shareholder Information](index=83&type=section&id=Section%207%20Share%20Capital%20Changes%20and%20Shareholder%20Information) This section provides details on the company's shareholder structure, which is highly concentrated with its controlling shareholder holding 84.52% [Shareholder Information](index=84&type=section&id=III.%20Number%20of%20Company%20Shareholders%20and%20Shareholding%20Situation) As of the period end, the company had 85,441 shareholders, with a highly concentrated ownership structure dominated by institutional investors Top 10 Shareholders | Shareholder Name | Shareholder Type | Shareholding Ratio | Number of Shares | | :--- | :--- | :--- | :--- | | China National Building Material Co, Ltd | State-owned legal person | 84.52% | 7,322,283,976 | | Bank of Communications Financial Asset Investment Co, Ltd | State-owned legal person | 1.87% | 161,858,201 | | Anhui Conch Cement Co, Ltd | State-owned legal person | 0.86% | 74,074,074 | | Jiangxi Wannianqing Cement Co, Ltd | State-owned legal person | 0.56% | 48,091,895 | | ABC Financial Asset Investment Co, Ltd | State-owned legal person | 0.54% | 46,685,382 | | Hong Kong Securities Clearing Company Ltd | Overseas legal person | 0.50% | 43,119,550 | | Hebei Jinyu Dingxin Cement Co, Ltd | Domestic non-state-owned legal person | 0.43% | 37,037,037 | | Zhejiang Jianfeng Group Co, Ltd | Domestic non-state-owned legal person | 0.42% | 36,068,921 | | Beijing Huachen Century Investment Co, Ltd | Domestic non-state-owned legal person | 0.35% | 30,057,434 | | Wuhu Cinda Deleverage Investment Management Partnership | Domestic non-state-owned legal person | 0.34% | 29,629,629 | [Bond-Related Information](index=88&type=section&id=Section%209%20Bond-Related%20Information) This section details the company's outstanding bonds and debt instruments, totaling ¥8.4 billion, with all issues maintaining stable credit ratings [Corporate Bonds and Non-financial Enterprise Debt Financing Instruments](index=88&type=section&id=II.%20Corporate%20Bonds) As of the period end, the company and its subsidiaries had ¥8.4 billion in outstanding bonds and debt instruments, including ¥4 billion issued in H1 2024 Outstanding Bonds and Debt Instruments | Bond Name | Issue Date | Maturity Date | Outstanding Balance (¥ million) | Interest Rate | | :--- | :--- | :--- | :--- | :--- | | **Corporate Bonds** | | | | | | 22 Tianshan 01 | 2022-09-21 | 2025-09-22 | 2,000 | 2.68% | | 24 Tianshan K1 | 2024-04-22 | 2027-04-24 | 2,000 | 2.38% | | 24 Tiancai K3 | 2024-06-03 | 2029-06-05 | 1,000 | 2.44% | | 21 Nanfang 02 | 2021-04-08 | 2026-04-09 | 800 | 3.92% | | 21 Nanfang 05 | 2021-08-06 | 2024-08-09 | 800 | 3.07% | | 21 Nanfang 06 | 2021-08-06 | 2026-08-09 | 1,500 | 3.43% | | 23 Nanfang 01 | 2023-11-22 | 2026-11-23 | 500 | 2.95% | | 21 Xinan 02 | 2021-04-21 | 2026-04-22 | 600 | 3.94% | | **Non-financial Enterprise Debt Financing Instruments** | | | | | | 21 Xinan Cement MTN001 | 2021-08-19 | 2024-08-23 | 500 | 3.14% | | 23 Xinan Cement SCP003 | 2023-10-20 | 2024-07-19 | 500 | 2.52% | | 24 Xinan Cement MTN001 | 2024-05-30 | 2027-06-03 | 1,000 | 2.30% | [Financial Report](index=92&type=section&id=Section%2010%20Financial%20Report) This section presents the consolidated financial statements, including the balance sheet, income statement, and cash flow statement for the period [Consolidated Balance Sheet](index=92&type=section&id=Consolidated%20Balance%20Sheet) As of June 30, 2024, total assets were ¥294.94 billion, with a debt-to-asset ratio of 67.16% and a 4.94% decrease in equity due to current period losses Consolidated Balance Sheet Summary | Item | Closing Balance (Yuan) | Opening Balance (Yuan) | | :--- | :--- | :--- | | **Total Current Assets** | 65,424,599,583.38 | 65,894,439,296.16 | | **Total Non-current Assets** | 229,510,255,765.24 | 228,827,911,143.19 | | **Total Assets** | 294,934,855,348.62 | 294,722,350,439.35 | | **Total Current Liabilities** | 110,353,827,313.54 | 116,677,484,942.01 | | **Total Non-current Liabilities** | 87,731,746,562.67 | 77,502,883,045.77 | | **Total Liabilities** | 198,085,573,876.21 | 194,180,367,987.78 | | **Total Equity Attributable to Parent Company** | 79,993,132,711.32 | 84,147,177,984.63 | | **Total Equity** | 96,849,281,472.41 | 100,541,982,451.57 | [Consolidated Income Statement](index=97&type=section&id=Consolidated%20Income%20Statement) In H1 2024, the company's revenue was ¥39.7 billion, a 25.72% decrease, resulting in a net loss attributable to parent company shareholders of ¥3.41 billion Consolidated Income Statement Summary | Item | H1 2024 (Yuan) | H1 2023 (Yuan) | | :--- | :--- | :--- | | **Total Operating Revenue** | 39,699,366,083.32 | 53,443,149,245.54 | | **Total Operating Costs** | 43,345,051,778.94 | 53,717,444,409.45 | | Of which: Operating Costs | 35,178,275,456.54 | 45,380,093,633.91 | | **Operating Profit (Loss shown with "-")** | -3,559,386,222.57 | 404,898,747.74 | | **Total Profit (Total loss shown with "-")** | -3,589,608,818.72 | 472,251,043.29 | | **Net Profit (Net loss shown with "-")** | -3,727,758,546.39 | 63,595,025.35 | | **Net Profit Attributable to Parent Company Shareholders** | -3,413,688,995.56 | 141,747,878.89 | [Consolidated Cash Flow Statement](index=100&type=section&id=Consolidated%20Cash%20Flow%20Statement) Net cash from operating activities plummeted 82.30% to ¥1.52 billion, while net cash from financing activities increased, resulting in a net cash decrease of ¥1.13 billion Consolidated Cash Flow Statement Summary | Item | H1 2024 (Yuan) | H1 2023 (Yuan) | | :--- | :--- | :--- | | **Net Cash Flow from Operating Activities** | 1,524,362,206.38 | 8,610,510,795.59 | | **Net Cash Flow from Investing Activities** | -5,005,571,927.74 | -4,393,071,421.65 | | **Net Cash Flow from Financing Activities** | 2,349,774,089.22 | 1,465,593,706.36 | | **Net Increase in Cash and Cash Equivalents** | -1,128,637,688.86 | 5,679,528,501.37 |

关联方资金占用情况的专项说明 天山材料股份有限公司 2024 年 1-6 月非经营性资金占用及其他关联资金往来情况汇总表 编制单位：天山材料股份有限公司 单位： 元 | 非经营性 | | 占用方与上市公 | 上市公司核算 | 2024 年期 | 半年度占 2024 用累计发生金 | 半年度 2024 占用资金的 | 2024 半年度 | 2024 年 6 | 占用形成 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 资金占用 | 资金占用方名称 | 司的关联关系 | 的会计科目 | 初占用资 | 额（不含利 | 利息（如 | 偿还累计发 | 月末占用 | 原因 | 占用性质 | | | | | | 金余额 | 息） | 有） | 生金额 | 资金余额 | | | | 控股股东、实际 控制人及其附属 | | | | | | | | | | | | 企业 | | | | | | | | | | | | 小计 | — | — | — | | | | | | | — | | 前控股股东、实 际控制人及其附 | | | ...

证券代码：000877 证券简称：天山股份 公告编号：2024-068 天山材料股份有限公司 关于子公司向控股股东借款暨关联交易的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载，误导性陈述或重大遗漏。 2024 年 8 月 26 日，天山材料股份有限公司（简称"公司"）召开 第八届董事会第三十九次会议，以 3 票同意，0 票反对，0 票弃权的 表决结果，审议通过了《关于子公司向控股股东借款暨关联交易的议 案》，具体情况如下： 一、关联交易概述 1、交易内容：公司下属全资子公司云南天山水泥有限公司（简 称"云南水泥"）、贵州天山水泥有限公司（简称"贵州水泥"）欠公司 控股股东中国建材股份有限公司(简称"中国建材股份")借款余额分 别为 51.50 亿元及 70 亿元，上述两项借款为 2021 年 9 月 30 日公司 重组之前由西南水泥有限公司（简称"西南水泥"）向中国建材股份 申请的借款，由于公司内部股权整合，西南水泥将债务分别转移给云 南水泥及贵州水泥，上述借款无抵押无担保。 云南水泥及贵州水泥非中国建材股份全资子公司，基于权责对等、 风险可控的原则，公司拟为云南水泥及贵州水 ...

天山材料股份有限公司 关于召开 2024 年第六次临时股东大会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 一、召开会议的基本情况 证券代码：000877 证券简称：天山股份 公告编号:2024-072 （一）股东大会届次：2024 年第六次临时股东大会。 （二）股东大会的召集人：本次股东大会的召开经公司第八届董事会 第三十九次会议审议通过，由公司董事会召集。 （三）会议召开的合法、合规性：本次股东大会的召集程序符合有关 法律、行政法规、部门规章、规范性文件和《公司章程》的规定。 （四）会议召开的日期、时间 1、现场会议时间：2024 年 9 月 12 日 14:30 2、网络投票时间为：2024 年 9 月 12 日，其中，通过深圳证券交易所 交易系统投票的具体时间为：2024 年 9 月 12 日上午 9:15 至 9:25，9:30 至 11:30，下午 13:00 至 15:00；通过深圳证券交易所互联网投票的具体时 间为：2024 年 9 月 12 日 9:15 至 15:00 的任意时间。 （五）会议召开方式：现场表决与网络投票相结合。公 ...

证券代码：000877 证券简称：天山股份 公告编号：2024-066 天山材料股份有限公司 第八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的内容真实、准确、完整，没有虚 假记载，误导性陈述或重大遗漏。 一、董事会会议召开情况 1、天山材料股份有限公司(简称"公司")于 2024 年 8 月 16 日 以书面、邮件的方式发出召开第八届董事会第三十九次会议的通知。 2、公司第八届董事会第三十九次会议于 2024 年 8 月 26 日以现 场结合视频方式召开。 3、本次会议应出席董事 9 人，实际出席董事 9 人，董事刘燕、 王兵、蔡国斌、赵新军、隋玉民、印志松、孔祥忠、陆正飞、孔伟平 亲自出席了会议。 4、会议主持人为董事长刘燕，公司监事和部分高级管理人员列 席了本次会议。 5、会议召开符合有关法律、行政法规、部门规章、规范性文件 和公司章程的规定。 二、董事会会议审议情况 （一）审议通过了《关于计提资产减值准备的议案》 本议案表决情况：9 票同意，0 票反对，0 票弃权。 根据《企业会计准则》的相关规定，为真实、准确地反映公司的 资产和财务状况，公司及所属公司计提资产减值准备 16,9 ...