天山材料股份有限公司 关联交易决策制度 第一章 总 则 第一条 为了规范天山材料股份有限公司（简称"公司"）的关 联交易业务，确保公司的关联交易行为不损害公司及股东的合法权益， 保证公司与关联方之间订立的关联交易合同符合公开、公平、公允的 原则，根据《中华人民共和国公司法》《中华人民共和国证券法》（简 称"《证券法》"）《深圳证券交易所股票上市规则》（简称"《上 市规则》"）《深圳证券交易所上市公司自律监管指引第 7 号——交 易与关联交易》等法律、行政法规、规范性文件以及《天山材料股份 有限公司章程》（简称"《公司章程》"）的有关规定，结合公司的 实际情况，制定本制度。 第二条 公司关联交易应遵循诚实信用、平等、自愿、公平、公 开、公允的原则，保证关联交易的合法合规性、必要性和公允性，保 持公司的独立性，不得利用关联交易调节财务指标，损害公司利益。 交易各方不得隐瞒关联关系或者采取其他手段，规避公司的关联交易 审议程序和信息披露义务。 第三条 公司及其下属控股子公司在发生交易活动时，相关责任 人应审慎判断是否构成关联交易。如果构成关联交易，应履行关联交 易相关决策程序后实施。 第四条 公司与关联人之间的关联 ...

天山材料股份有限公司 独立董事工作制度 第一章 总 则 第一条 为进一步规范天山材料股份有限公司（简称"公司"） 独立董事议事程序，依据《中华人民共和国公司法》（简称"《公司 法》"）、《中华人民共和国证券法》《上市公司治理准则》《上市 公司独立董事管理办法》《深圳证券交易所股票上市规则》《深圳证 券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》 （"简称《主板上市公司规范运作》"）等相关法律、行政法规、规 范性文件及《天山材料股份有限公司章程》（简称"《公司章程》"） 的有关规定，制定本制度。 第二条 独立董事是指不在公司担任除董事外的其他职务，并与 公司及公司主要股东、实际控制人不存在直接或者间接利害关系，或 者其他可能影响其进行独立客观判断关系的董事。 独立董事应当独立履行职责，不受公司及其主要股东、实际控制 人等单位或者个人的影响。 第三条 独立董事对公司及全体股东负有忠实与勤勉义务，并应 当按照相关法律、行政法规、中国证券监督管理委员会（简称"中国 证监会"）规定、深圳证券交易所业务规则和《公司章程》的规定， 认真履行职责，在董事会中发挥参与决策、监督制衡、专业咨询作用， （三）具有 ...

Group 1 - The company expects a net loss of 800 million to 1 billion yuan for the current reporting period, compared to a loss of approximately 341.37 million yuan in the same period last year [1] - The net loss after deducting non-recurring gains and losses is projected to be between 900 million and 1.2 billion yuan, compared to a loss of about 368.64 million yuan in the previous year [1] - The basic earnings per share are expected to be a loss of 0.1125 to 0.1406 yuan per share, compared to a loss of 0.3940 yuan per share in the same period last year [1] Group 2 - The main reason for the performance change is attributed to the increase in cement sales prices and the decrease in costs of cement and ready-mixed concrete, leading to improved operational efficiency compared to the previous year [1] - The company has focused on precise management, cost reduction, and optimizing both pricing and costs, resulting in a significant reduction in net loss attributable to shareholders compared to the previous year [1] - National statistics indicate that from January to May 2025, the cumulative cement production in the country was 659 million tons, a year-on-year decrease of 4%, with the decline rate widening by 1.2 percentage points compared to January to April, and a 5.8 percentage point decrease compared to the same period last year [1]

Group 1 - The core viewpoint of the article is that Tianshan Co. (000877) is expected to significantly reduce its losses in the first half of 2025, with a projected net loss of 800 million to 1 billion yuan, compared to the same period last year [1] - Tianshan Co. attributes this improvement to meticulous management, cost control, and a dual focus on price recovery and cost optimization, resulting in a year-on-year increase in cement sales prices and a decrease in sales costs [1] - National statistics indicate that from January to May 2025, the total cement production in the country was 659 million tons, a year-on-year decrease of 4%, with the decline rate widening by 1.2 percentage points compared to the previous month [1] Group 2 - The cement industry is experiencing a narrowing of demand decline, with prices showing a trend of high initially and low later, leading to improved industry efficiency [1] - The China Cement Association has issued guidelines to promote high-quality development in the cement industry, emphasizing the importance of capacity replacement policies for structural optimization and transformation [1] - The industry is expected to see a normalization of market competition and a return of cement prices to reasonable levels, which will enhance sales prices and gross margins for cement products [2]

证券代码：000877 证券简称：天山股份 公告编号：2025-050 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 6 月 30 日。 （二）业绩预告情况：预计净利润为负值 | 项目 | | 本报告期 | | 上年同期 | | | --- | --- | --- | --- | --- | --- | | 归属于上市公司股东 的净利润 | 亏损：80,000 | 万元-100,000 | 万元 | 亏损：341,368.90 | 万元 | | 扣除非经常性损益后 的净利润 | 亏损：90,000 | 万元-120,000 | 万元 | 亏损：368,639.54 | 万元 | | 基本每股收益 | 亏损：0.1125 | 元/股-0.1406 | 元/股 | 亏损：0.3940 | 元/股 | 二、与会计师事务所沟通情况 本次业绩预告相关数据是公司财务部门初步测算的结果，未经会 计师事务所预审计。 天山材料股份有限公司 2025 年半年度业绩预告 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、本期业绩预计情况 公司不存在其他影响本次 ...

Group 1: Industry Overview - The construction materials industry has seen a significant increase in attention since July 1, driven by unexpected changes on the supply side and a focus on demand upgrades for the end of 2024 [1][2] - The cement industry is experiencing a "de-involution" policy expectation, with a focus on limiting overproduction and improving regulatory oversight [2][10] - The demand side is shifting, with AI-related demand expected to accelerate, positively impacting various segments of the industry [3][27] Group 2: Consumer Building Materials - The consumer building materials sector is witnessing a rare price increase in the waterproofing industry, indicating a potential recovery in profitability [4][5] - Companies like Sanke Tree and Dongfang Yuhong are showing improved profitability through cost reduction and price increases, validating earlier industry reports [4][5] - The outlook for 2025 suggests that profitability recovery will outpace revenue growth, with expectations of reduced price competition and improved cost management [4][5] Group 3: Cement Industry - The cement industry is expected to see a recovery in profitability as supply-side adjustments take effect, with a focus on limiting production and improving cash flow [10][12] - Major companies like Conch Cement and Huaxin Cement are expected to maintain strong cash flow and dividend policies, indicating long-term investment value [11][16][17] - The industry's overall profitability is anticipated to improve as demand stabilizes and production constraints are implemented [12][15] Group 4: Glass Industry - The float glass market is experiencing price fluctuations due to supply-demand imbalances, with expectations of cash losses for many companies [19][20] - Companies like Xinyi Glass and Qibin Group are facing challenges but are expected to maintain stable profitability in their automotive glass segments [21][22] - The photovoltaic glass sector is entering a cash loss phase, prompting accelerated cold repairs and production adjustments [25][26] Group 5: Fiber Industry - The fiberglass sector is seeing stable demand for mainstream electronic yarns, with a focus on high-end products like low-dielectric cloth [27][28] - Companies like China Jushi are expanding production capacity overseas to mitigate trade risks and maintain growth [29][30] - The carbon fiber market is showing signs of recovery in wind power demand, with expectations of improved profitability in Q2 [32]

天山材料股份有限公司 （住所：新疆维吾尔自治区乌鲁木齐市达坂城区白杨沟村） 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） 2024 年度受托管理事务报告 债券受托管理人 （住所：北京市朝阳区建国门外大街 1 号国贸大厦 2 座 27 层及 28 层） 二〇二五年六月 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》（以下简称《执业行为准则》）、证券交 易所公司债券上市规则（以下简称"上市规则"）或证券交易所公司债券挂牌转 让规则（以下简称"挂牌转让规则"）、发行人与中国国际金融股份有限公司（以 下简称"中金公司"或"受托管理人"）签订的债券受托管理协议（以下简称"受 托管理协议"）及其它相关信息披露文件以及天山材料股份有限公司（以下简称 "发行人"或"公司"）出具的相关说明文件和提供的相关资料等，由受托管理 人中金公司编制。中金公司编制本报告的内容及信息均来源于天山材料股份有限 公司提供的资料或说明。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜作出独立判断，而不应将本报告 ...

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 天山材料股份有限公司 公司债券受托管理事务报告 （2024年度） 发行人 天山材料股份有限公司 （新疆维吾尔自治区乌鲁木齐市达坂城区白杨沟村） 债券受托管理人 （广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座） 2025 年 6 月 重要声明 中信证券股份有限公司（以下简称"中信证券"）编制本报告的内容及信息均 来源于天山材料股份有限公司（以下简称"天山股份"、"发行人"或"公司"）对 外披露的《天山材料股份有限公司 2024 年年度报告》等相关公开信息披露文件、 发行人提供的证明文件以及第三方中介机构出具的专业意见。本报告中的"报告期" 是指 2024 年 4 月 24 日至 2024 年 12 月 31 日。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将本报告中的任何内容据以作为中信证券所作的承诺 或声明。 2 | 目录 | | --- | | 第一节 | 公司债券概况······························· ...

Group 1 - The company held its ninth board meeting, where several governance-related proposals were approved [1][2][3] - The board approved amendments to the Articles of Association to enhance corporate governance, including clarifying the responsibilities of controlling shareholders and optimizing shareholder meeting procedures [1][2] - The company will no longer have a supervisory board, as its functions will be transferred to the audit committee of the board [2][3] Group 2 - The board approved revisions to the rules governing shareholder meetings and board meetings, which will require special resolutions for final approval by the shareholders [2][3] - The company has established a three-year dividend return plan for 2025-2027 to enhance transparency in profit distribution and protect minority shareholders' rights [4][6] - The board approved the appointment of a new securities affairs representative, effective until the end of the current board's term [6][7]

Core Viewpoint - The company has established a three-year shareholder dividend return plan for 2025-2027 to enhance transparency in profit distribution and ensure the protection of minority shareholders' rights [1] Group 1: Principles of the Plan - The plan emphasizes a continuous, stable, and scientific profit distribution policy, considering the opinions of shareholders, especially minority shareholders, and independent directors [2] - The company aims to balance short-term and long-term interests of shareholders while ensuring sustainable development [2] Group 2: Profit Distribution Methods - The profit distribution methods include cash, stock, or a combination of both, with a priority on cash dividends [3] - The board must complete the distribution of dividends within two months after the shareholders' meeting decision [3] Group 3: Cash Dividend Conditions and Proportions - The company will distribute cash dividends of no less than 50% of the distributable profits for each year from 2025 to 2027, subject to the board's proposal based on annual profitability and future funding plans [4] Group 4: Decision-Making and Supervision - The board and shareholders' meeting will consider the opinions of shareholders and independent directors during the profit distribution decision-making process [4] - The company will provide a platform for online voting and disclose reasons for not proposing profit distribution in regular reports [4] Group 5: Conditions for Stock Dividends - The company may issue stock dividends if cash dividend conditions are met and it is deemed beneficial for all shareholders, with specific ratios to be approved by the board and submitted for shareholder approval [5] Group 6: Differentiated Cash Dividend Policy - The board will propose differentiated cash dividend policies based on industry characteristics, development stages, and other factors, with minimum cash dividend ratios set at 80%, 40%, and 20% for different scenarios [5] Group 7: Planning Cycle and Decision Mechanism - The shareholder return plan will be reviewed every three years, with adjustments made as necessary due to significant changes in the external or internal business environment [6] Group 8: Other Matters - The plan will be executed in accordance with relevant laws and regulations, taking effect upon approval by the shareholders' meeting [6]