香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | | | | | | | 年初至報 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 本報告期 | | | | 告期末比 | | | | | | 比上年同 | | | | 上年同期 | | | 本報告期 | | 上年同期 | 期增減 (%) | 年初至報告期末 | | 上年同期 | 增減 (%) | | | | 調整前 | 調整後 | 調整後 | | 調整前 | 調整後 | 調整後 | | 營業收入 | 18,958,088,111.21 | 21,760,232,444.98 | 21,765,842,114.90 | -12.90 | 54,937,588,768.60 | 61,459,598,528.30 | 61,478,897,601.72 | -10.64 | | 歸屬於天山材料股東的淨利潤 | ...

Core Viewpoint - Tianshan Co., Ltd. reported a narrowing net loss of 1.18 billion yuan for Q3 2025, despite weak market demand and a challenging industry environment, attributed to effective cost control and a focus on green transformation [1][2]. Group 1: Financial Performance - As of the end of Q3 2025, the company achieved operating revenue of 54.938 billion yuan, with a net profit loss reduced by 68.50% year-on-year [1]. - The company's cash flow from operating activities was 4.869 billion yuan, with a weighted average return on equity of -1.44% [2]. - The gross profit margin for the first three quarters was 17.6%, with a quarterly net profit showing year-on-year growth [2]. Group 2: Cost Management and Efficiency - The company implemented a "Three Precision Management" model to enhance cost efficiency and operational effectiveness amid a declining market [2]. - Measures included centralized procurement, direct sourcing, and online platform purchasing, leading to reduced costs in cement and concrete production [2]. - The company focused on optimizing production processes and reducing energy consumption through technical improvements [2]. Group 3: Green Transformation Initiatives - Tianshan Co., Ltd. integrated green development and technological innovation into its operations, aiming to become a benchmark for sustainability in the cement industry [3]. - The company is advancing energy transition, product innovation, and carbon capture technologies, aligning with national policies for green transformation [3]. - The goal is to minimize environmental impact while achieving economic benefits, contributing to the sustainable development of the industry [3]. Group 4: Industry Context and Opportunities - The cement industry is currently in a deep adjustment phase, with a 5.2% year-on-year decline in national cement production from January to September 2025 [4]. - Despite the industry's challenges, structural opportunities are emerging in the infrastructure sector, supported by government policies aimed at stabilizing growth [4]. - Increased funding and the commencement of major projects in various regions are expected to accelerate construction activities in the fourth quarter [4]. Group 5: Market Outlook - Analysts predict that cement prices may rise due to seasonal production adjustments and marginal improvements in demand [5]. - The ongoing optimization of industry supply is expected to alleviate supply-demand imbalances, potentially restoring profitability for leading regional enterprises [5].

Group 1 - Tianshan Co., Ltd. announced the convening of its ninth board meeting on October 23, 2025, which will be held in a hybrid format of in-person and video [1] - For the first half of 2025, Tianshan's revenue composition shows that cement accounts for 96.95% of total revenue, while other businesses contribute 3.05% [1] - As of the report date, Tianshan's market capitalization stands at 44.6 billion yuan [1]

1、基本信息 特别提示： 天山材料股份有限公司本次拟续聘会计师事务所符合财政部、国 务院国资委、证监会印发的《国有企业、上市公司选聘会计师事务所 管理办法》（财会〔2023〕4 号）的规定。 天山材料股份有限公司（简称"公司"或"本公司"）于 2025 年 10 月 23 日召开第九届董事会第八次会议，审议通过了《关于拟续 聘会计师事务所的议案》，拟续聘大华会计师事务所（特殊普通合伙） （简称"大华事务所"）为公司 2025 年度财务报告及内部控制的审 计机构，该事项尚需提交公司股东会审议。现将有关事项公告如下： 证券代码：000877 证券简称：天山股份 公告编号：2025-064 一、 拟续聘会计师事务所的基本情况 天山材料股份有限公司 关于拟续聘会计师事务所的公告 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）机构信息 企业名称：大华会计师事务所（特殊普通合伙） 成立日期：2012 年 2 月 9 日（由大华会计师事务所有限公司转 制为特殊普通合伙企业） 公司类型：特殊普通合伙企业 注册地址：北京市海淀区西四环中路 16 号院 7 号楼 1101 ...

证券代码：000877 证券简称：天山股份 公告编号：2025-065 天山材料股份有限公司 关于召开 2025 年第五次临时股东会的通知 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 1、股东会届次：2025 年第五次临时股东会 投票规则：公司股东应严肃行使表决权，投票表决时，同一股份只能选 择现场投票、深圳证券交易所交易系统投票、深圳证券交易所互联网系统投 票中的一种，不能重复投票。具体规则为：同一表决权出现重复表决的以第 一次投票结果为准。 6、会议的股权登记日：2025 年 11 月 3 日 7、出席对象： 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《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》等法律、行政法规、部门规章、规范性文件及《公司 章程》的有关规定。 4、会议时间： （1）现场会议时间：2025 年 11 月 10 日 14:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间 为 2025 年 11 ...

证券代码：000877 证券简称：天山股份 公告编号：2025-062 天山材料股份有限公司 第九届董事会第八次会议决议公告 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。 3、本次会议应出席董事 9 人，实际出席董事 9 人，董事赵新军、 刘标、范丽婷、满高鹏、薄克刚、沈军、陆正飞、孔伟平、李琛亲自 出席了会议。 4、会议主持人为董事长赵新军，公司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《2025 年第三季度报告》 本议案表决情况：9 票同意，0 票反对，0 票弃权。 本议案已经公司董事会审计委员会审议通过。 具体内容详见《2025 年第三季度报告》（公告编号：2025-063）。 本议案无需提交公司股东会审议。 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 2025 年 10 月 17 日 以书面、邮件的方式发出召开第九届董事会第八次会议的通知。 2、公司第九届董事会第八次会议于 2025 年 10 月 23 日以现场结 ...

Core Viewpoint - Tianshan Co., Ltd. experienced a significant block trade on October 22, with a transaction volume of 9.3926 million shares at a price of 6.17 yuan, reflecting a discount of 4.49% compared to the closing price of 6.46 yuan on the same day [2] Trading Activity - The block trade amounted to 57.9525 million yuan, with the buyer being Guolian Minsheng Securities Co., Ltd. and the seller being Zheshang Securities Co., Ltd. [2] - The stock closed at 6.46 yuan, marking an increase of 1.10% for the day, with a turnover rate of 0.83% and a total trading volume of 382 million yuan [2] Fund Flow - The net outflow of funds for Tianshan Co. was 630,400 yuan for the day, with a cumulative decline of 3.87% over the past five days, resulting in a total net outflow of 34.8649 million yuan [2] - The latest margin financing balance for the stock is 412 million yuan, which has decreased by 26.6754 million yuan over the past five days, representing a decline of 6.07% [2] Company Background - Tianshan Materials Co., Ltd. was established on November 18, 1998, with a registered capital of 7.110491694 billion yuan [2]

Group 1: Market Performance - The cement sector increased by 0.46% compared to the previous trading day, with Guotong Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Group 2: Individual Stock Performance - Guotong Co., Ltd. (002205) closed at 15.16, up 10.01% with a trading volume of 158,100 shares and a transaction value of 233 million [1] - Other notable performers include Shangfeng Cement (000672) with a closing price of 11.11, up 2.40%, and Hanjian Heshan (603616) at 5.52, up 2.22% [1] - The overall trading volume and transaction values for various stocks in the cement sector were significant, with Shangfeng Cement achieving a transaction value of 479 million [1] Group 3: Capital Flow Analysis - The cement sector saw a net inflow of 5.77 million from institutional investors, while retail investors contributed a net inflow of 46.47 million [2][3] - Notably, Guotong Co., Ltd. had a net inflow of 68.52 million from institutional investors, despite a net outflow of 45.34 million from retail investors [3] - The overall capital flow indicates a mixed sentiment, with institutional investors showing confidence in certain stocks while retail investors exhibited caution [2][3]

Market Overview - The cement sector increased by 0.68% on October 21, with Qingsong Jianhua leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Individual Stock Performance - Qingsong Jianhua (600425) closed at 4.89, up 4.26% with a trading volume of 1.0134 million shares and a transaction value of 493 million [1] - Other notable performers include: - Meiao Zhonghui (601992) at 1.79, up 3.47% [1] - Sifang New Materials (605122) at 13.65, up 2.40% [1] - Sanhe Yingshao (003037) at 8.18, up 2.25% [1] - Huazhong Construction (002302) at 7.11, up 2.01% [1] Fund Flow Analysis - The cement sector saw a net inflow of 27.126 million in main funds, while retail funds experienced a net outflow of 69.5445 million [2] - Retail investors contributed a net inflow of 42.4185 million [2] Major Fund Flows by Company - Conch Cement (600585) had a main fund net inflow of 39.9722 million, but retail funds saw a net outflow of 39.5986 million [3] - Qingsong Jianhua (600425) experienced a main fund net inflow of 32.3374 million, with retail funds also seeing a net outflow of 28.9664 million [3] - Tianshan Shares (000877) had a main fund net inflow of 12.2423 million, with retail funds showing a net inflow of 1.03418 million [3]

Core Viewpoint - Tianshan Co. stated on October 20 that shareholder information outside of regular reporting periods is not mandatory for disclosure, and the company will provide such information in regular reports to ensure fairness for investors [1] Group 1 - The company responded to investor inquiries on an interactive platform regarding shareholder information disclosure [1] - Tianshan Co. emphasized adherence to information disclosure regulations [1] - The company aims to maintain fairness in information access for investors [1]