Core Insights - The company reported a third-quarter revenue of 860 million, a year-on-year decrease of 9.89% [1] - The net profit for the third quarter was 152 million, reflecting a year-on-year decline of 1.62% [1] - For the first three quarters, the total revenue reached 2.916 billion, showing a slight year-on-year decrease of 0.49% [1] - The net profit for the first three quarters was 588 million, indicating a significant year-on-year increase of 54.23% [1] Financial Performance - Third-quarter revenue: 860 million, down 9.89% year-on-year [1] - Third-quarter net profit: 152 million, down 1.62% year-on-year [1] - Year-to-date revenue: 2.916 billion, down 0.49% year-on-year [1] - Year-to-date net profit: 588 million, up 54.23% year-on-year [1]

证券代码：002233 证券简称：塔牌集团 公告编号：2025-046 广东塔牌集团股份有限公司 一、以 3 票同意、0 票反对、0 票弃权审议通过《关于〈2025 年第三季度报告〉的议案》。 监事会认为：董事会编制和审核公司《2025 年第三季度报告》的程序符合法律、行政法 规和中国证监会的规定，报告内容真实、准确、完整地反映了公司的实际情况，不存在任何虚 假记载、误导性陈述或者重大遗漏。 《2025 年第三季度报告》（公告编号：2025-047）详见 2025 年 10 月 28 日中国证券报、 上海证券报、证券时报、证券日报及巨潮资讯 http://www.cninfo.com.cn。 特此公告 广东塔牌集团股份有限公司监事会 2025 年 10 月 27 日 1 第六届监事会第十三次会议决议公告 本公司及监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。 广东塔牌集团股份有限公司（以下简称"公司"）于 2025 年 10 月 20 日以信息方式向全体 监事及董事会秘书、证券事务代表发出《关于召开第六届监事会第十三次会议的通知》。第六 届监事会第十三次会议于 202 ...

证券代码：002233 证券简称：塔牌集团 公告编号：2025-045 广东塔牌集团股份有限公司 第六届董事会第二十次会议决议公告 广东塔牌集团股份有限公司董事会 2025 年 10 月 27 日 1 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。 根据《广东塔牌集团股份有限公司章程》（以下简称"《公司章程》"）以及《董事会议事规 则》的相关规定，广东塔牌集团股份有限公司（以下简称"公司"）于 2025 年 10 月 20 日以 信息方式向全体董事发出了《关于召开第六届董事会第二十次会议的通知》。2025 年 10 月 27 日，公司在总部办公楼四楼会议室以现场会议与视频会议相结合的方式召开了第六届董事 会第二十次会议。会议由公司董事长钟朝晖先生主持。本次会议应出席董事 9 位，实际出席董 事 9 位，公司全体监事、高级管理人员列席了本次会议，会议的召集、召开符合法律、法规、 规章及《公司章程》的规定。 与会董事经认真审议并表决通过如下决议： 一、以 9 票同意、0 票反对、0 票弃权审议通过《关于〈2025 年第三季度报告〉的议案》。 公司董事、监事及高级管 ...

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]

Market Overview - The cement sector increased by 0.24% on October 20, with Hanjian Heshan leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Individual Stock Performance - Hanjian Heshan (603616) closed at 5.30, up 2.51% with a trading volume of 105,700 shares and a turnover of 55.47 million yuan [1] - Fujian Cement (600802) closed at 5.75, up 1.77% with a trading volume of 187,500 shares and a turnover of 108 million yuan [1] - Other notable performers include Sanhe Yingshao (003037) at 8.00 (+1.65%), Longquan Co. (002671) at 5.09 (+1.19%), and Xibu Construction (002302) at 6.97 (+1.16%) [1] Capital Flow Analysis - The cement sector experienced a net outflow of 121 million yuan from institutional investors, while retail investors saw a net inflow of 102 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Detailed Capital Flow for Selected Stocks - Conch Cement (600585) had a net inflow of 18.35 million yuan from institutional investors, but a net outflow of 5.47 million yuan from retail investors [3] - Jinyu Group (000401) saw a significant net inflow of 10.42 million yuan from institutional investors, while retail investors had a net outflow of 13.28 million yuan [3] - Qing Song Jianhua (600425) reported a net inflow of 8.90 million yuan from institutional investors, with retail investors also experiencing a net outflow of 12.95 million yuan [3]

Core Viewpoint - The stock price of Tapai Group has experienced fluctuations, with a recent decline of 2.03% on October 16, 2023, while the company has shown a year-to-date increase of 26.75% in stock price [1][2]. Financial Performance - For the first half of 2025, Tapai Group achieved a revenue of 2.056 billion yuan, representing a year-on-year growth of 4.05%. The net profit attributable to shareholders was 435 million yuan, marking a significant increase of 92.47% [2]. - Cumulatively, Tapai Group has distributed 6.393 billion yuan in dividends since its A-share listing, with 1.254 billion yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, Tapai Group had 42,600 shareholders, a decrease of 1.57% from the previous period. The average number of circulating shares per shareholder increased by 1.60% to 27,999 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited and Fortune China Securities Dividend Index Enhanced A/B, with both reducing their holdings compared to the previous period [3]. Market Activity - On October 16, 2023, Tapai Group's stock traded at 9.16 yuan per share, with a total market capitalization of 10.921 billion yuan. The trading volume was 70.6216 million yuan, with a turnover rate of 0.64% [1]. - The net outflow of main funds was 12.6746 million yuan, with large orders accounting for 5.94% of purchases and 23.89% of sales [1]. Business Overview - Tapai Group, established on June 29, 1995, and listed on May 16, 2008, primarily engages in the production and sale of various types of silicate cement and ready-mixed concrete. The revenue composition includes 90.95% from cement, 2.61% from environmental disposal, and smaller percentages from other products [2]. - The company is categorized under the building materials industry, specifically in cement manufacturing, and is associated with concepts such as social security heavy positions and solid waste treatment [2].

Core Insights - The cement sector experienced a 2.26% increase on October 15, with Huaxin Cement leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] Cement Sector Performance - Huaxin Cement (600801) closed at 21.28, up 6.45% with a trading volume of 411,100 shares and a transaction value of 864 million [1] - Other notable performers include: - Qingsong Jianhua (600425) at 4.92, up 2.71% with a transaction value of 409 million - Conch Cement (600585) at 24.49, up 2.47% with a transaction value of 1.253 billion [1] - The overall trading volume and transaction values for various cement stocks indicate strong market activity [1][2] Capital Flow Analysis - The cement sector saw a net inflow of 349 million from institutional investors, while retail investors experienced a net outflow of 243 million [2] - Specific stock capital flows include: - Conch Cement with a net inflow of 250 million from institutional investors [3] - Huaxin Cement with a net inflow of approximately 41.69 million from institutional investors [3] - The data indicates a divergence in capital flow, with institutional investors showing confidence while retail investors withdrew [2][3]

Core Viewpoint - The performance growth of Tapai Group in the first half of 2025 is largely attributed to low base effects, non-recurring gains, and short-term cost reduction measures rather than substantial improvement in core business demand [1][2][6]. Financial Performance - Tapai Group reported a revenue of 2.056 billion yuan, a year-on-year increase of 4.05%, and a net profit attributable to shareholders of 435 million yuan, a significant year-on-year increase of 92.47% [1][2]. - The non-recurring gains accounted for 44.6% of the net profit, with 163 million yuan from fair value changes of financial assets and 47 million yuan from asset disposals, indicating that non-core factors contributed more to profits than core business improvements [6][8]. Industry Context - The cement industry is facing weak demand, with national cement production declining by 4.3% year-on-year to 815 million tons in the first half of 2025, and cement consumption in Guangdong dropping by 4.95% [9][10]. - The decline in real estate investment, which fell by 11.2% nationally and 16.3% in Guangdong, directly impacts cement demand, as the industry is closely linked to real estate [10][11]. Operational Challenges - Tapai Group's production capacity utilization rate is under pressure, with a forecasted utilization rate of over 75% for 2025, down from 77.33% in 2024 [10][11]. - The implementation of staggered production policies in Guangdong, requiring significant downtime for production lines, further constrains capacity release and production efficiency [11]. Competitive Landscape - Tapai Group faces increasing competition from regional players like Conch Cement and China Resources Cement, which are expanding their market share in the Guangdong region [12]. - The influx of cement from Guangxi and Fujian, which is priced lower than local products, exacerbates the competitive pressure on Tapai Group [12][13]. Strategic Responses - The company has initiated cost reduction and efficiency improvement measures since June 2022, which have yielded short-term benefits but may not be sustainable in the long run [16]. - The third-largest shareholder, Xu Yongshou, plans to reduce his stake by 1%, raising concerns about the company's future prospects [16].

Core Viewpoint - The company, Tapai Group, has conducted a share buyback, acquiring a total of 6.1177 million shares, which represents 0.5131% of its total share capital [1] Summary by Relevant Sections - **Share Buyback Details** - The company has repurchased shares through a dedicated securities account via centralized bidding [1] - The highest transaction price was 8.96 CNY per share, while the lowest was 8.65 CNY per share [1] - The total amount paid for the buyback was 54,085,773.00 CNY, excluding transaction fees [1]

Core Viewpoint - The company, Tapai Group, has conducted a share buyback, acquiring a total of 6.1177 million shares, which represents 0.5131% of its total share capital, indicating a strategic move to enhance shareholder value [1] Summary by Categories Share Buyback Details - The company has repurchased shares through a dedicated securities account via centralized bidding [1] - The highest transaction price for the repurchased shares was 8.96 CNY per share, while the lowest was 8.65 CNY per share [1] - The total amount paid for the share buyback was 54,085,773.00 CNY, excluding transaction fees [1]