Core Insights - The data center industry in China is experiencing significant growth driven by "new infrastructure" initiatives and the increasing demand for computing power, with the total number of operational racks expected to reach 10.85 million by June 2025, doubling from the end of 2021 [1][11] - The power supply system is critical for data centers, typically consisting of the grid, UPS, and diesel generators, where UPS provides short-term power backup and diesel generators ensure longer operational continuity [1][2] - The demand for diesel generators in data centers is projected to increase significantly, with an expected need for 4,555 units in 2024, representing a year-on-year growth of 66.9%, and over 5,600 units anticipated in 2025 [1][12] Industry Overview - Diesel engines are essential for data centers, providing backup power to prevent service interruptions and data loss during outages [2][4] - The construction cost of data centers is divided into IT hardware (60%), supporting infrastructure (30%), and civil engineering (10%), with diesel generators accounting for 6-7% of the total construction cost [4][5] Market Demand - The demand for high-end diesel generators is surging due to the ongoing construction of data centers, with a notable increase in the need for diesel engines [1][12] - The market for diesel engines in data centers is currently dominated by foreign companies like Cummins and MTU, which have established a duopoly, while domestic companies like Weichai Heavy Machinery play a minor role [1][12] Competitive Landscape - The foreign dominance in the diesel engine market is attributed to their technological advantages and established market presence, but domestic manufacturers are improving their capabilities and competitiveness [1][12] - Domestic companies are focusing on R&D and have made significant advancements in engine performance metrics, positioning themselves to capture a larger market share [1][12] Future Trends - The diesel engine market for data centers is expected to grow, with demand projected to exceed 7,000 units by 2027, driven by the increasing reliability requirements for power supply due to the rise of cloud computing and AI [1][12] - The industry is also moving towards higher efficiency and lower carbon emissions in line with environmental regulations, which will shape the future development of diesel engines [1][12]

Core Viewpoint - Tianrun Industrial announced the postponement of its board of directors' election to ensure continuity and stability in its governance structure [2] Group 1 - The sixth term of Tianrun Industrial's board of directors will expire on November 17, 2025 [2] - The company is actively preparing for the election of the new board of directors [2] - The terms of the board's specialized committees and senior management will also be extended accordingly [2]

Group 1 - The company is postponing the election of its new board of directors to ensure continuity and stability in its operations, with the current board's term set to expire on November 17, 2025 [2] - The terms of the company's specialized committees and senior management will also be extended in line with the board's postponement [2] - The company assures that the postponement will not affect its normal production and operations, and it will actively promote the board's election process while fulfilling disclosure obligations [2] Group 2 - The company currently has nine board members, including three independent directors, with one independent director's term set to expire on November 17, 2025, after serving the maximum six-year term [3] - The departure of the independent director will result in the number of independent directors falling below the required one-third of the board members [3] - The independent director will continue to fulfill her responsibilities until a new independent director is elected by the shareholders [3]

证券代码：002283 证券简称：天润工业 公告编号：2025-059 天润工业技术股份有限公司 关于董事会延期换届及部分独立董事任期届满的提示性公告 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。 续履行其独立董事及董事会相关专门委员会委员职责，直至公司股东会 选举产生新的独立董事。 一、董事会延期换届 天润工业技术股份有限公司（以下简称"公司"）第六届董事会任期 将于 2025 年 11 月 17 日届满，鉴于公司新一届董事会换届工作尚在积 极筹备中，为确保公司董事会相关工作的连续性及稳定性，公司董事会 的换届选举工作将适当延期，公司董事会各专门委员会、高级管理人员 的任期亦将相应顺延。 在新一届董事会换届选举完成前，公司第六届董事会成员、董事会 各专门委员会委员及高级管理人员将依照法律法规和《公司章程》等相 关规定继续履行相应的职责和义务。公司延期换届不会影响公司的正常 生产经营，公司将积极推进董事会换届工作，并按照相关规定及时履行 信息披露义务。 二、部分独立董事任期届满 根据《上市公司独立董事管理办法》《公司章程》等相关规定，上 市公司独立董事占董事 ...

证券代码：002283 证券简称：天润工业 公告编号：2025-058 天润工业技术股份有限公司 关于回购公司股份的进展公告 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。 天润工业技术股份有限公司（以下简称"公司"）于 2025 年 3 月 10 日 召开第六届董事会第十七次会议，审议通过了《关于回购公司股份方案的 议案》，同意公司使用自有资金及股票回购专项贷款资金以集中竞价交易 方式回购部分公司已发行的人民币普通股（A 股）股票，用于后续实施股 权激励计划或员工持股计划。本次回购资金总额不低于人民币 2,500 万元 （含），且不超过人民币 5,000 万元（含），回购价格不超过人民币 9.82 元/股（含），本次回购期限为自公司董事会审议通过回购股份方案之日起 不超过 12 个月。具体内容详见公司分别于 2025 年 3 月 11 日、2025 年 3 月 18 日在《证券时报》、《中国证券报》、《上海证券报》、《证券日 报》和巨潮资讯网（www.cninfo.com.cn）上披露的《关于回购公司股份方 案暨取得股票回购专项贷款承诺函的公告》（公告编号： ...

Core Points - Tianrun Industrial announced the release of a portion of shares pledged by its controlling shareholder, Tianrun United Group Co., Ltd. [1] - The number of shares released from pledge amounts to 40,000,000 shares [1]

Core Points - Tianrun Industrial announced the release of 40,000,000 shares from pledge by its controlling shareholder Tianrun United Group, accounting for 22.86% of its holdings and 3.51% of the company's total share capital [1] - The pledged shares were originally pledged on December 29, 2023, and the release date is set for October 30, 2025 [1] - As of the announcement date, Tianrun United has a total of 72,500,000 shares pledged, which represents 41.43% of its holdings and 6.36% of the company's total share capital [1]

Core Points - Tianrun Industrial announced the release of 40 million shares by its controlling shareholder Tianrun United, which accounts for 22.86% of its holdings and 3.51% of the company's total share capital [1] - The pledge was released on October 30, with the pledgee being Weihai Commercial Bank, Wendeng Branch [1] - As of the announcement date, Tianrun United and its concerted parties have a total of 72.5 million pledged shares, representing 20.98% of their holdings and 6.36% of the company's total share capital [1] - There is currently no risk of forced liquidation of the pledged shares, and this will not lead to a change in the actual control of the company or have adverse effects [1]

证券代码：002283 证券简称：天润工业 公告编号：2025-057 天润工业技术股份有限公司 关于控股股东部分股份解除质押的公告 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。 天润工业技术股份有限公司（以下简称"公司"）于 2025 年 10 月 31 日接到控股股东天润联合集团有限公司（以下简称"天润联合"）通知， 获悉天润联合将其持有的本公司部分股份解除质押，具体事项如下： 下： | 已质押股份 | 未质押股份 | 情况 | 情况 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 占 | 合计 | 合计 | 已质押 | 累计被 | 已 | | | | | | | | | 占其 | 占公 | 股份限 | 持股数量 | 持股 | 质押股 | 质 | 未质押股 | 占未 | 股东名称 | 所持 | 司总 | 售和冻 | | （股） | 比例 | 份数量 | 押 | 份限售和 | 质押 | 股份 | 股本 ...

Core Insights - Tianrun Industrial is the largest crankshaft manufacturer in China, with a production capacity of 1.6 million heavy-duty engine crankshafts, 3 million light-duty engine crankshafts, and 1 million medium-duty engine crankshafts annually, showcasing its leading technology in the domestic market [1] Financial Performance - In Q3 2025, Tianrun Industrial achieved a revenue of 2.9 billion yuan, ranking 22nd among 103 companies in the industry, while the industry leader, Weichai Power, reported a revenue of 170.571 billion yuan [2] - The net profit for the same period was 277 million yuan, placing the company 18th in the industry, with Weichai Power's net profit at 10.852 billion yuan [2] Financial Ratios - As of Q3 2025, Tianrun Industrial's debt-to-asset ratio was 26.75%, down from 29.45% year-on-year and below the industry average of 39.06%, indicating strong solvency [3] - The gross profit margin for the same period was 23.25%, slightly lower than the previous year's 23.74%, but higher than the industry average of 21.53%, reflecting good profitability [3] Management Compensation - The chairman, Xing Yunbo, received a salary of 699,400 yuan in 2024, a slight increase from 2023, while the general manager, Xu Chengfei, earned 886,000 yuan, also showing a modest increase [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 16.20% to 58,200, with an average holding of 17,200 circulating A-shares, which decreased by 13.94% [5] - The fifth-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 16.706 million shares, an increase of 3.0172 million shares from the previous period [5] Growth Prospects - The company is expected to benefit from industry beta driving revenue growth and scale effects enhancing gross profit margins [5] - The main business is developing steadily, with large crankshaft and connecting rod products gaining traction and orders from well-known engine manufacturers [5] - The acquisition of Shandong Altai is anticipated to strengthen R&D and production capabilities in lightweight products, accelerating entry into the passenger vehicle market [5]