Core Viewpoint - The company, Zhuzhou Tianqiao Crane Co., Ltd., is participating in an online investor communication event to enhance interaction with investors and discuss its semi-annual performance for 2025 [1][2]. Group 1 - The event is organized by the Hunan Securities Regulatory Bureau, Hunan Listed Companies Association, and Shenzhen Panorama Network Co., Ltd. [1] - The online event will take place on September 19, 2025, from 14:00 to 17:00 [1]. - Investors can participate through the "Panorama Roadshow" website, WeChat public account, or by downloading the Panorama Roadshow APP [1]. Group 2 - The company assures that the information disclosed is true, accurate, and complete, with no false records or misleading statements [1]. - The company encourages investors to actively participate in the communication and express their concerns [1].

关于参加 2025 年湖南辖区上市公司投资者网上集体接待日暨半年 度业绩说明会活动的公告 证券代码：002 52 3 证券简称：天桥起重 公告编号：202 5 -0 20 株洲天桥起重机股份有限公司 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。 为进一步加强与投资者的互动交流，株洲天桥起重机股份有限公司（以下简称公 司）将参加由湖南证监局、湖南省上市公司协会与深圳市全景网络有限公司联合举办 的"资本聚三湘 楚光耀新程——2025 年湖南辖区上市公司投资者网上集体接待日暨 半年度业绩说明会"活动，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参与 本次互动交流，活动时间为 2025 年 9 月 19 日（星期五）14:00-17:00。届时公司将 在线就投资者关心的问题进行沟通与交流，欢迎广大投资者踊跃参与！ 株洲天桥起重机股份有限公司 董事会 2025 年 9 月 16 日 特此公告。 ...

Company Overview - Tianqiao Crane Co., Ltd. is located in Zhuzhou, Hunan Province, and was established on November 26, 1999. The company was listed on December 10, 2010. Its main business involves the research, development, manufacturing, and sales of various lifting equipment [1][2]. Financial Performance - For the first half of 2025, Tianqiao Crane achieved operating revenue of 795 million yuan, representing a year-on-year growth of 15.42%. The net profit attributable to the parent company was 43.91 million yuan, showing a significant increase of 71.68% year-on-year [2]. - Since its A-share listing, the company has distributed a total of 395 million yuan in dividends, with 63.75 million yuan distributed over the past three years [2]. Shareholder Information - As of July 18, 2025, the number of shareholders for Tianqiao Crane was 59,800, a decrease of 6.49% from the previous period. The average number of circulating shares per shareholder increased by 6.94% to 23,599 shares [2]. - As of June 30, 2025, Hong Kong Central Clearing Limited was the ninth largest circulating shareholder, holding 6.4945 million shares as a new shareholder [2]. Market Activity - On August 27, Tianqiao Crane's stock price fell by 3.03%, with a trading volume of 201 million yuan. The financing buy-in amount for that day was 18.87 million yuan, while the financing repayment was 14.89 million yuan, resulting in a net financing buy-in of 3.98 million yuan [1]. - The total balance of margin trading for Tianqiao Crane as of August 27 was 242 million yuan, accounting for 4.45% of its circulating market value, which is above the 80th percentile level over the past year, indicating a high level of financing [1].

Group 1 - As of the end of June, Zhuzhou Youruike Nonferrous Equipment Co., Ltd., a subsidiary of Tianqiao Crane, has over 2 million yuan in overdue bills [1] - Tianqiao Crane clarified that the payment was completed on the due date, and the overdue information is mainly due to the time lag in the bill clearing process [1] - The related bills do not pose any overdue or credit risk according to Tianqiao Crane [1]

Core Viewpoint - Tianqiao Hoisting (002523) reported strong financial performance for the first half of 2025, with significant increases in revenue and net profit compared to the previous year [1] Financial Performance Summary - Total revenue for the first half of 2025 reached 795 million yuan, a year-on-year increase of 15.42% [1] - Net profit attributable to shareholders was 43.91 million yuan, up 71.68% year-on-year [1] - In Q2 2025, total revenue was 502 million yuan, reflecting an 8.49% increase year-on-year [1] - Q2 net profit attributable to shareholders was 21.11 million yuan, a 2.62% increase year-on-year [1] Key Financial Metrics - Gross margin was 22.86%, down 10.74% year-on-year [1] - Net margin improved to 4.85%, a 69.55% increase year-on-year [1] - Total operating expenses (selling, administrative, and financial) amounted to 112 million yuan, accounting for 14.03% of revenue, down 20.15% year-on-year [1] - Earnings per share (EPS) increased to 0.03 yuan, a 72.22% rise year-on-year [1] - Cash flow per share was -0.1 yuan, a decrease of 176.9% year-on-year [1] Balance Sheet Insights - Accounts receivable stood at 1.171 billion yuan, a slight decrease of 1.62% year-on-year [1] - Interest-bearing debt decreased significantly by 50.45% to 115 million yuan [1] - Cash and cash equivalents increased by 4.80% to 685 million yuan [1] Operational Insights - The company's return on invested capital (ROIC) was 0.91%, indicating weak capital returns [1] - Historical data shows a median ROIC of 3.04% over the past decade, suggesting generally weak investment returns [1] - The business model relies heavily on research and marketing efforts, necessitating further investigation into these drivers [1]

Core Viewpoint - Tianqiao Crane reported a decrease in the number of shareholders and an increase in average shareholding quantity, indicating a shift in shareholder composition despite a slight increase in stock price during the reporting period [1][4]. Group 1: Shareholder Statistics - As of July 18, 2025, the number of shareholders for Tianqiao Crane was 59,812, a decrease of 4,150 or 6.49% from June 30, 2025 [1][2]. - The average number of shares held per shareholder increased from 22,100 to 23,700 shares [1][2]. - The average market value of shares held per shareholder was 89,300 yuan, which is below the industry average of 193,200 yuan [1][2]. Group 2: Stock Price Performance - From June 30, 2025, to July 18, 2025, Tianqiao Crane's stock price increased by 3.57% [1]. - The stock price performance over the previous months showed fluctuations, with a notable increase of 11.04% on May 9, 2025, and a decrease of 10.47% on April 10, 2025 [2]. Group 3: Capital Flow - During the period from June 30, 2025, to July 18, 2025, the net outflow of funds from major investors was 23.56 million yuan, while retail investors saw a net inflow of 73.19 million yuan [4].

Core Insights - The company, Zhuzhou Tianqiao Crane Co., Ltd., reported a revenue of approximately 795 million yuan for the first half of 2025, representing a year-on-year growth of 15.42%, and a net profit attributable to shareholders of approximately 36.35 million yuan, which is a significant increase of 109.32% [1][2] Group 1: Company Performance - The company has delivered multiple products to clients in various industries such as non-ferrous metals, ports, and hydropower, leading to notable increases in sales revenue and profit metrics [1] - The company is integrating advanced technologies like artificial intelligence to enhance product performance, with expectations of releasing more significant results in the future [1][2] Group 2: Market Demand and Supply Dynamics - The demand for non-ferrous metals is rising due to the explosion of the new energy industry, prompting smelting enterprises to increase their procurement of handling equipment [2] - The supply side is experiencing a transition as handling equipment from 2019 to 2020 is being gradually replaced, with smelting enterprises simultaneously conducting capacity replacement and technological upgrades, leading to a noticeable increase in demand for advanced, energy-efficient handling equipment [2] Group 3: Future Developments - The company is developing new products that integrate crane robotics with artificial intelligence technology, having completed version iterations and is working on constructing industrial models for special application environments [2] - The company aims to enhance its intelligent system solutions for the non-ferrous industry, summarizing relevant standards and promoting technologies such as precise anti-sway, AI recognition, and centralized control scheduling from aluminum smelting to other fields [2]

Core Insights - The company reported a total operating revenue of 795 million yuan, an increase of 106 million yuan compared to the same period last year, achieving a year-on-year growth of 15.42% [1] - The net profit attributable to shareholders reached 43.91 million yuan, up by 18.33 million yuan from the same period last year, marking a year-on-year increase of 71.68% [1] - The company experienced a negative net cash flow from operating activities of 136 million yuan [1] Financial Metrics - The latest debt-to-asset ratio stands at 44.68%, a decrease of 0.49 percentage points from the same period last year [3] - The gross profit margin is reported at 22.86%, an increase of 0.94 percentage points from the previous quarter [3] - The return on equity (ROE) is 1.78%, which is an increase of 0.67 percentage points compared to the same period last year [3] - The diluted earnings per share (EPS) is 0.03 yuan, an increase of 0.01 yuan from the same period last year, reflecting a year-on-year growth of 72.22% [3] - The total asset turnover ratio is 0.17 times, an increase of 0.02 times from the same period last year, achieving a year-on-year growth of 10.88% [3] - The inventory turnover ratio is reported at 0.81 times [3] Shareholder Structure - The number of shareholders is 64,000, with the top ten shareholders holding a total of 588 million shares, accounting for 41.54% of the total share capital [3] - The largest shareholder is Zhuzhou State-owned Assets Investment Holding Group Co., Ltd., holding 24.77% of the shares [3] - Other significant shareholders include CRRC Industry Investment Co., Ltd. (5.00%) and Chalco International Engineering Co., Ltd. (3.80%) [3]

Meeting Details - The 11th meeting of the 6th Supervisory Board of Zhuzhou Tianqiao Crane Co., Ltd. was held on August 15, 2025, via communication means [1] - The meeting was attended by all 5 supervisors, and it was chaired by Mr. Liu Chunlei [1] Resolution Summary - The Supervisory Board unanimously approved the "2025 Semi-Annual Report and its Summary" with a voting result of 5 votes in favor, 0 against, and 0 abstentions [1] - The procedures for preparing and reviewing the semi-annual report comply with relevant laws, regulations, and the requirements of the China Securities Regulatory Commission [1] - The report accurately reflects the company's actual situation without any false records, misleading statements, or significant omissions [1]

Financial Overview - The company did not undergo an audit for its semi-annual financial report [1] - Total assets decreased from 4,694,759,462.62 yuan to 4,597,160,999.04 yuan [1][2] - Total liabilities decreased from 2,210,982,759.52 yuan to 2,054,017,572.60 yuan [2][3] - Total equity increased from 2,483,776,703.10 yuan to 2,543,143,426.44 yuan [2][3] Asset Composition - Current assets decreased from 3,560,586,795.85 yuan to 3,430,526,535.51 yuan [1] - Cash and cash equivalents decreased from 904,773,950.94 yuan to 685,108,129.82 yuan [1] - Inventory increased from 733,218,479.77 yuan to 785,805,070.73 yuan [1] Liabilities Breakdown - Current liabilities decreased from 2,141,672,477.86 yuan to 1,993,300,053.64 yuan [2] - Short-term borrowings decreased from 87,729,472.40 yuan to 74,647,817.95 yuan [1][2] - Accounts payable decreased from 867,757,474.48 yuan to 779,421,312.59 yuan [1][2] Equity Changes - Retained earnings increased from 645,565,196.76 yuan to 687,013,030.08 yuan [2] - Other comprehensive income increased from 189,767,216.78 yuan to 207,429,923.48 yuan [2] Revenue and Profitability - Total operating revenue for the first half of 2025 was 795,485,831.73 yuan, up from 689,187,321.59 yuan in the same period of 2024 [3][4] - Total operating costs increased from 678,066,758.25 yuan to 778,484,426.97 yuan [3][4] - Net profit for the first half of 2025 was 38,560,603.08 yuan, compared to 19,703,942.02 yuan in the first half of 2024 [4] Cash Flow Analysis - Net cash flow from operating activities was -136,133,325.49 yuan for the first half of 2025, compared to -49,163,430.65 yuan in the same period of 2024 [5] - Cash flow from investing activities was -40,549,600.60 yuan for the first half of 2025, compared to -20,290,896.99 yuan in the same period of 2024 [5][6] - Cash flow from financing activities was -23,597,979.87 yuan for the first half of 2025, compared to -116,102,152.03 yuan in the same period of 2024 [5][6]