Core Insights - The report highlights that 1,144 secretaries in the A-share market earn over one million yuan annually, accounting for over 21% of the total [1] - The total salary for secretaries in the A-share market reached 4.086 billion yuan in the previous year, with an average salary of 754,300 yuan [1] Group 1: Salary Distribution - A total of 9 companies paid their secretaries annual salaries of one million yuan or more, with the highest being Meikailong at 5.1451 million yuan and the lowest being Guoguang Chain at 204,700 yuan [2] - The salary disparity among secretaries is significant, with Meikailong's secretary earning approximately 25.13 times more than Guoguang Chain's secretary [1][2] Group 2: Salary Changes - Among companies that did not change their secretaries, most increased their salaries, with Meikailong's secretary experiencing the largest increase of 90.33% [2] - ZTE Commercial's secretary saw the largest salary decrease of 49.94% and is set to leave the company in May 2025 [2] Group 3: Company Performance - Despite Meikailong's high secretary salary, the company's performance has declined, with total revenue of 7.821 billion yuan, down 32.08%, and a net loss of 2.983 billion yuan, worsening from a loss of 2.216 billion yuan the previous year [3] - Tianhong's secretary received a salary of 1.3663 million yuan, but the company reported a revenue decline of 2.49% to 11.786 billion yuan and a net profit drop of 66.16% [3] - Fusenmei paid its secretary 1.12 million yuan, yet the company faced a revenue decline of 6.18% to 1.43 billion yuan and a net profit decrease of 14.39% [3] - Gongsiao Daji paid its secretary 1.022 million yuan but reported a loss of 1.324 billion yuan in 2024 [4]

Group 1 - The stock price of Tianhong Co., Ltd. closed at 5.69 yuan on August 4, 2025, down by 0.01 yuan, a decrease of 0.18% from the previous trading day [1] - The trading volume on that day was 134,676 lots, with a transaction amount of 0.76 billion yuan [1] - Tianhong Co., Ltd. operates in the commercial retail sector, with 97.6% of its revenue coming from commercial activities in 2024, while other businesses account for 2.4% [1] Group 2 - As of July 31, 2025, the company has not implemented any share repurchase plan [1] - On August 4, the net outflow of main funds was 6.7348 million yuan, with a cumulative net outflow of 56.0743 million yuan over the past five trading days [1]

证券代码：002419 证券简称：天虹股份 公告编号：2025-036 天虹数科商业股份有限公司 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、回购公司股份的基本情况 天虹数科商业股份有限公司（以下简称"公司"）第六届董事会第三十次会 议以及2025年第一次临时股东大会审议通过了《关于回购公司股份的方案》，将 以集中竞价交易方式回购公司已发行的人民币普通股股票（A股），用于减少公 司注册资本，回购股份的资金总额不低于1.5亿元（含）且不超过2亿元（含）， 回购股份的价格不高于7.54元/股。 具体内容详见公司于2025年4月16日、7月19日、7月25日在《证券时报》和 巨潮资讯网（http://www.cninfo.com.cn）刊登的相关公告。 二、回购公司股份的进展情况 根据《上市公司股份回购规则》、《深圳证券交易所上市公司自律监管指引 第 9 号——回购股份》等相关规定，现将公司回购股份的进展情况公告如下： 截至 2025 年 7 月 31 日，公司暂未回购公司股份。 三、其他说明 公司后续将根据市场情况继续在回购期限内实施本次回购方案，并根据相 ...

2024年1至12月份，天虹股份的营业收入构成为：商业占比97.6%，其他业务占比2.4%。 （文章来源：每日经济新闻） 天虹股份（SZ 002419，收盘价：5.69元）8月4日晚间发布公告称，截至2025年7月31日，公司暂未回购 公司股份。 ...

证券代码：002419 证券简称：天虹股份 公告编号：2025-036 天虹数科商业股份有限公司 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。 一、回购公司股份的基本情况 天虹数科商业股份有限公司（以下简称"公司"）第六届董事会第三十次会 议以及2025年第一次临时股东大会审议通过了《关于回购公司股份的方案》，将 以集中竞价交易方式回购公司已发行的人民币普通股股票（A股），用于减少公 司注册资本，回购股份的资金总额不低于1.5亿元（含）且不超过2亿元（含）， 回购股份的价格不高于7.54元/股。 具体内容详见公司于2025年4月16日、7月19日、7月25日在《证券时报》和 巨潮资讯网（http://www.cninfo.com.cn）刊登的相关公告。 二、回购公司股份的进展情况 根据《上市公司股份回购规则》、《深圳证券交易所上市公司自律监管指引 第 9 号——回购股份》等相关规定，现将公司回购股份的进展情况公告如下： 截至 2025 年 7 月 31 日，公司暂未回购公司股份。 三、其他说明 公司后续将根据市场情况继续在回购期限 ...

Group 1 - The core announcement is about the procurement results for the employee cafeteria food project at China Merchants Bank, specifically for fresh pork [1][2]. - The procurement method used was competitive negotiation [2]. - The selected suppliers for the project include Tianhong Shuke Commercial Co., Ltd. and Shenzhen Nongchuan Meiyi Meat Industry Co., Ltd. [3]. Group 2 - The procurement project is identified as the "Head Office Employee Cafeteria Food Project" with a specific focus on fresh pork [1]. - A total of 12 suppliers responded to the procurement request, indicating a competitive bidding environment [2]. - The announcement was made by the Procurement Management Department of China Merchants Bank on August 2, 2025 [4].

Group 1 - The company Tianhong Co., Ltd. (002419) reported that as of July 31, 2025, the number of shareholders is 35,930 [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。 一、项目背景 证券代码：002419 证券简称：天虹股份 公告编号：2025-035 天虹数科商业股份有限公司 开展消费基础设施公募REITs申报发行工作的进展公告 二○二五年七月二十九日 1 天虹数科商业股份有限公司（以下简称"公司"）第六届董事会第二十一次 会议和 2023 年度股东大会审议通过了《公司开展消费基础设施公募 REITs 申报 发行工作暨关联交易的议案》，同意公司以下属全资子公司苏州市天虹商业管理 有限公司持有的苏州相城天虹购物中心为底层资产，申请发行公开募集基础设施 领域不动产投资信托基金（以下简称"公募 REITs 项目"）。有关公募 REITs 项目情况详见公司于 2024 年 3 月 15 日在《证券时报》和巨潮资讯网 （http://www.cninfo.com.cn）刊登的《公司开展消费基础设施公募 REITs 申报 发行工作暨关联交易的公告》（2024-009）。 二、项目进展 公司公募 REITs 项目已向中国证券监督管理委员会（以下简称"中国证监 会"）和深圳证券交易所提交申报 ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - From July 21 - 25, 2025, the CSI REITs Total Return Index closed at 1087.36 points, down 1.56% for the week, breaking below the 1100 - point mark, with a relatively large overall correction. The total market capitalization of the REITs market reached 204.7 billion yuan with 69 listed projects after the listing of CICC Principal Agricultural REIT [1][8]. - In terms of major asset classes, commodities and equities generally rose in July, while REITs had negative returns. Commodities performed strongly this week, with coking coal up 35%, and coke, lithium carbonate, polysilicon, soda ash, and glass up over 15%. The equity market rose between 1.5 - 3.5%, and indices such as the CSI 300, CSI 500, CSI 1000, Hang Seng Tech, and CSI Convertible Bond all outperformed REITs [1][8]. Summary by Related Catalogs Secondary Market Price: The Rental Housing Sector Had the Largest Decline - All seven REITs sectors declined this week, with rental housing having the largest decline of 3.23%. Industrial parks and warehousing logistics were relatively more resilient. Eight rental housing REITs generally fell 3 - 5%. Some previously high - performing rental housing REITs like CRIC Wanke Shenzhen Rental Housing had a decline of about 3% this week. The average cash distribution rate of rental housing is 2.76%. REITs with high distribution rates such as Shanghai Real Estate Rental Housing and Chengtou Kuanting Rental Housing can be continuously monitored [2][13]. - In the highway sector, there were still differences among projects in June. Projects in the eastern economically active regions had better year - on - year performance in traffic volume and toll revenue. Huaxia Nanjing Traffic Highway REIT had the largest decline this week, but its operation has good resilience. Projects like China Merchants Highway and CICC Anhui Expressway had good fundamentals and can be continuously monitored [2][15]. Liquidity: Trading Activity Recovered - The overall market trading was relatively active this week, with the average daily trading volume of 583 million yuan, the average daily trading volume of 129 million shares, and the average daily turnover rate of 0.63%, up 17.72%, 15.22%, and 0.08 pct respectively from the previous week [20]. - By sector, the sectors with the highest average daily turnover rates this week were municipal environmental protection (1.06%), rental housing (0.78%), and consumer facilities (0.73%). Most sectors' turnover rates continued to decline compared with last week, except for consumer facilities and warehousing logistics, whose turnover rates slightly increased [23]. - Five projects were lifted from lock - up in July. With a large number of projects approaching the end of their lock - up periods from the second half of 2025 to the first half of 2026, potential trading pressure from recent lock - up expirations needs to be monitored [28]. Valuation: The Overall Decline Led to Valuation Adjustment - The overall decline of REITs this week led to valuation adjustments, and the distribution rate increased slightly. In terms of ChinaBond valuation yields, the energy infrastructure sector had the largest change in yield but still had the lowest yield among all sectors. The traffic (5.69%), warehousing logistics (5.09%), and industrial park (4.81%) sectors had relatively high yields [31]. - In terms of cash distribution rates, energy - related projects still had the largest change, with the average rising to 8.28%. For concession - based projects, the principal recovery situation should be considered when looking at the cash distribution rate. Among equity - based projects, industrial parks (4.33%), warehousing (4.11%), and consumer facilities (3.79%) had relatively high distribution rates, while the average distribution rate of rental housing was only 2.76% [31]. Primary Market Initial Offering: China Aerospace Tianhong Consumer REIT Has Been Filed - On July 22, 2025, China Aerospace Tianhong Consumer Closed - end Infrastructure Securities Investment Fund was filed with the Shenzhen Stock Exchange. Tianhong Co., Ltd. has three major brands: "Tianhong", "Junshang", and "sp@ce", targeting the mid - to high - end consumer market [3][35]. - As of July 25, 2025, there were about 7 - 10 potential issuance projects remaining this year. There are 4 projects that have been approved and are waiting to be listed, 10 projects that have received feedback from the exchange, and 1 project that has been filed [35].

Core Viewpoint - The company plans to repurchase its shares to enhance shareholder value and confidence, with a total fund allocation between 150 million yuan and 200 million yuan, and a maximum repurchase price of 7.54 yuan per share [1][3][4]. Group 1: Repurchase Plan Details - The repurchase will be conducted through the Shenzhen Stock Exchange within 12 months from the approval date by the shareholders' meeting [1][4]. - The purpose of the repurchase is to reduce registered capital, increase earnings per share, and improve long-term company value [3][8]. - The estimated number of shares to be repurchased ranges from approximately 19,893,899 shares (1.70% of total shares) to 26,525,198 shares (2.27% of total shares) based on the maximum repurchase price [4][6]. Group 2: Financial Impact and Conditions - The repurchase funds will be sourced from the company's cash flow and deposits, with the total repurchase amount not significantly increasing the company's financial risk [4][8]. - The company's total assets and net assets are reported at 2.83 billion yuan and 4.098 billion yuan respectively, indicating that the repurchase funds will constitute about 0.71% of total assets [8][9]. - The company has committed to notifying creditors as required by law to protect their interests during the repurchase process [9][11]. Group 3: Shareholder Actions and Compliance - A major shareholder, Five Dragon Trading Co., plans to reduce its holdings by up to 35,065,432 shares (3.00% of total shares) starting from June 23, 2025 [2][9]. - The board of directors and management have been authorized to adjust the repurchase plan as necessary, ensuring compliance with relevant regulations [10][11]. - The company has confirmed that there have been no insider trading or market manipulation activities by its directors or major shareholders in the six months prior to the repurchase decision [11].