Market Overview - On September 25, the Tianjin state-owned enterprise reform sector fell by 0.72% compared to the previous trading day, with Jintou Chengkai leading the decline [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Stock Performance - The following stocks in the Tianjin state-owned enterprise reform sector showed notable performance: - Baili Electric (600468) closed at 6.73, up 4.02% with a trading volume of 1.021 million shares and a turnover of 693 million yuan [1] - Jintou Chengkai (600322) closed at 2.35, down 6.37% with a trading volume of 868,900 shares and a turnover of 210 million yuan [2] - Other stocks such as Tianjin Port (600717) and Taida Co. (000652) also experienced declines of 1.28% and 1.45% respectively [1][2] Capital Flow Analysis - The Tianjin state-owned enterprise reform sector saw a net outflow of 38.27 million yuan from main funds, while speculative funds had a net inflow of 53.41 million yuan, and retail investors experienced a net outflow of 15.13 million yuan [2] - Specific stock capital flows included: - Baili Electric had a net inflow of 20.84 million yuan from main funds, while retail investors saw a net outflow of 4.25 million yuan [3] - Tianjin Port had a net inflow of 9.34 million yuan from speculative funds, but a net outflow of 9.81 million yuan from retail investors [3]

Group 1 - Tianbao Infrastructure experienced a decline of 5.08% on September 18, with a stock price of 4.30 yuan per share, a trading volume of 268 million yuan, a turnover rate of 5.48%, and a total market capitalization of 4.772 billion yuan [1] - The company, established on September 30, 1998, and listed on April 6, 2000, is primarily engaged in real estate development, property leasing, and property management, with revenue composition as follows: 85.93% from real estate sales, 6.21% from property leasing, 6.20% from property management, 1.47% from hotel income, and 0.20% from pharmaceutical sales [1] Group 2 - Among the top ten circulating shareholders of Tianbao Infrastructure, a fund under Southern Fund holds a position. The Southern CSI Real Estate ETF Initiated Link A (004642) increased its holdings by 52,100 shares in the second quarter, totaling 7.0786 million shares, which represents 0.64% of the circulating shares. The estimated floating loss today is approximately 1.6281 million yuan [2] - The Southern CSI Real Estate ETF Initiated Link A (004642) was established on August 24, 2017, with a latest scale of 173 million yuan. Year-to-date returns are 10.07%, ranking 3590 out of 4222 in its category; the one-year return is 38.56%, ranking 2980 out of 3804; and since inception, it has incurred a loss of 38.66% [2]

Core Viewpoint - The company, Tianjin Tianbao Infrastructure Co., Ltd., is providing a guarantee for its wholly-owned subsidiary Tianjin Tianbao Shengyuan Real Estate Development Co., Ltd. to secure a loan of RMB 500 million from Huaxia Bank, which exceeds 50% of the company's latest audited net assets and involves a borrower with an asset-liability ratio over 70% [2][3][11]. Group 1: Guarantee Overview - The subsidiary Tianjin Tianbao Shengyuan is applying for a fixed asset loan of RMB 500 million with a three-year term, secured by unsold residential and commercial properties [3]. - The company is providing a joint liability guarantee for this loan, with the guarantee amount also set at RMB 500 million and a guarantee period of three years [3][7]. Group 2: Approval Process - The guarantee amount was approved during the company's board meeting on August 25, 2025, and the fourth extraordinary general meeting of shareholders on September 11, 2025, bringing the total guarantee amount for Tianbao Shengyuan to RMB 1 billion [4]. Group 3: Financial and Credit Status - Tianjin Tianbao Shengyuan has a good credit status and is not a subject of enforcement actions [6]. - The company holds 100% equity in Tianjin Tianbao Shengyuan, which has a registered capital of RMB 1.5 billion [5][8]. Group 4: Guarantee Agreement Details - The guarantee covers the principal, interest, overdue interest, penalties, and other related costs incurred by the bank to realize its claims [9]. - The guarantee period starts based on the maturity of the secured debt [10]. Group 5: Board Opinion - The board believes that this guarantee will help meet the subsidiary's operational funding needs and reduce financial costs, aligning with the company's overall interests [11]. Group 6: Cumulative Guarantee Amount - After this guarantee, the total external guarantee balance provided by the company and its subsidiaries will be RMB 416.77 million, which is 76.61% of the latest audited net assets [12].

Summary of Key Points Core Viewpoint - Tianjin Tianbao Infrastructure Co., Ltd. is providing a guarantee for its wholly-owned subsidiary Tianbao Shengyuan Real Estate Development Co., Ltd. to secure a loan of RMB 500 million from Huaxia Bank, which exceeds 50% of the company's latest audited net assets and involves a borrower with a debt ratio exceeding 70% [2][3]. Group 1: Guarantee Overview - The company is providing a joint liability guarantee for Tianbao Shengyuan's loan application of RMB 500 million, with a loan term of three years [3][4]. - The guarantee amount provided by the company for Tianbao Shengyuan will increase to RMB 1 billion after this transaction, with no remaining guarantee capacity for Tianbao Shengyuan [3][4]. Group 2: Financial Data - The total external guarantee balance after this transaction will be RMB 416,772.90 million, which is 76.61% of the company's latest audited net assets [5]. - The company has no overdue guarantees or guarantees involving litigation [5]. Group 3: Company and Subsidiary Information - Tianbao Shengyuan was established on May 17, 2018, with a registered capital of RMB 1.5 billion and is fully owned by Tianjin Tianbao Infrastructure Co., Ltd. [3][4]. - The main business of Tianbao Shengyuan includes real estate development, interior decoration, engineering management services, and daily life services [3]. Group 4: Board Opinion - The board believes that this guarantee will help meet the daily operational funding needs of the subsidiary and reduce financial costs, aligning with the overall interests of the company [4].

Core Viewpoint - Tianbao Infrastructure announced that the company and its controlling subsidiaries do not have any overdue guarantees or litigation-related guarantees [2] Group 1 - The company confirmed the absence of overdue guarantees [2] - There are no ongoing litigation guarantees involving the company [2]

截至发稿，天保基建市值为49亿元。 每经AI快讯，天保基建（SZ 000965，收盘价：4.44元）9月15日晚间发布公告称，本次担保提供后，公 司及其控股子公司对外担保总余额约为41.68亿元（其中：公司对控股子公司提供的对外担保余额约为 37.68亿元），占公司最近一期经审计净资产的76.61%。公司及其控股子公司对合并报表以外的单位提 供的担保金额为4亿元，占公司最近一期经审计净资产的7.35%。 每经头条（nbdtoutiao）——重大突破！中国这款新药，中美官方都认定有突破性疗效！世界肺癌大会 沸腾了 2025年1至6月份，天保基建的营业收入构成为：房地产开发与经营业占比85.93%，物业出租收入占比 6.21%，物业管理收入占比6.2%，酒店收入占比1.47%，医药销售占比0.2%。 （记者 曾健辉） ...

1 二、相关担保额度审议情况 证券代码：000965 证券简称：天保基建 公告编号：2025-44 天津天保基建股份有限公司 关于为子公司申请借款提供担保的公告 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。 特别提示： 天津天保基建股份有限公司（以下简称"公司"）及控股子 公司对外提供的担保金额超过公司最近一期经审计净资产 50%， 且本次担保为对资产负债率超过 70%的被担保对象提供担保，敬 请投资者充分关注担保风险。 一、担保情况概述 为满足子公司日常经营资金需要，公司全资子公司天津天保 盛源房地产开发有限公司（以下简称"天保盛源"）向华夏银行 股份有限公司天津南开支行（以下简称"华夏银行天津南开支行"） 申请人民币 50,000 万元额度的固定资产借款，借款期限为三年。 天保盛源以其持有的上城观景项目未售住宅及商业房产作抵押 担保。同时，公司为天保盛源本次借款提供连带责任保证担保， 担保金额为人民币 50,000 万元，保证期间为三年。 公司于 2025 年 8 月 25 日召开的第九届董事会第二十七次会 议、2025 年 9 月 11 日召开的 20 ...

天津天保基建股份有限公司 对外担保管理制度 （于 2025 年 9 月 11 日经公司 2025 年第四次临时股东大会审议通过） 第六条 公司董事会或股东会是对外担保的决策机构，公司一切对外担保行 为，必须按程序经公司董事会或股东会批准。 第二章 对外担保的审批权限和程序 第一章 总 则 第七条 公司可以为具有独立法人资格并满足以下条件之一的对象提供担保： 第一条 为依法规范天津天保基建股份有限公司（以下简称"本公司"或"公 司"）的对外担保行为，防范财务风险，确保本公司稳健经营，根据《中华人民 共和国公司法》《中华人民共和国民法典》《上市公司监管指引第 8 号——上市 公司资金往来、对外担保的监管要求》《深圳证券交易所股票上市规则》（以下 简称"《上市规则》"）等法律、法规、规范性文件及《天津天保基建股份有限 公司章程》（以下简称"公司章程"） 的有关规定，制定本制度。 第二条 本制度所称对外担保，是指公司以自有资产或信誉为他人提供的保 证、资产抵押、质押或者其他形式的担保。公司为下属全资子公司、控股子公司 （以下简称"下属子公司"）提供的担保视同对外担保。 1 第三条 公司及下属子公司按照房地产开发企业的 ...

天津天保基建股份有限公司 章 程 (经公司 2025 年第四次临时股东大会审议通过) 二○二五年九月十一日 | 第一章 | 总 | 则 | | 2 | | --- | --- | --- | --- | --- | | 第二章 | | 经营宗旨和范围 | 3 | | | 第三章 | 股 | 份 | | 3 | | 第一节 | | 股份发行 | | 3 | | 第二节 | | 股份增减和回购 | 4 | | | 第三节 | | 股份转让 | | 5 | | 第四章 | | 股东和股东会 | | 5 | | 第一节 | | 股东的一般规定 | 5 | | | 第二节 | | 控股股东和实际控制人 | | 7 | | 第三节 | | 股东会的一般规定 | 8 | | | 第四节 | | 股东会的召集 | 10 | | | 第五节 | | 股东会的提案与通知 | | 11 | | 第六节 | | 股东会的召开 | 12 | | | 第七节 | | 股东会的表决和决议 | | 14 | | 第五章 | 党总支 | | | 17 | | 第六章 | 董事会 | | | 18 | | 第一节 | | 董事的一般规定 | 1 ...

天津天保基建股份有限公司 关联交易管理制度 （于 2025 年 9 月 11 日经公司 2025 年第四次临时股东大会审议通过） 第一章 总 则 第一条 为规范天津天保基建股份有限公司（以下简称"公司"）关联交易 行为，加强对公司关联交易的内部控制，根据《中华人民共和国公司法》《中华 人民共和国证券法》《上市公司治理准则》《深圳证券交易所股票上市规则》和《天 津天保基建股份有限公司章程》（以下简称"《公司章程》"）等有关规定，结合公 司的实际情况，制定本制度。 第二条 本制度适用于公司及各控股子公司。 第二章 关联交易和关联人 第三条 公司的关联交易是指公司或公司控股子公司与公司关联人之间发 生的转移资源或义务的事项，包括以下交易： 1、购买或出售资产； 2、对外投资（含委托理财、对子公司投资等）； 3、提供财务资助（含委托贷款等）； 4、提供担保（含对控股子公司担保等）； 5、租入或租出资产； 6、委托或者受托管理资产和业务； 7、赠与或受赠资产； 1 13、销售产品、商品； 14、提供或接受劳务； 15、委托或受托销售； 8、债权或债务重组； 9、转让或者受让研发项目； 10、签订许可协议； 11、放弃权 ...