Core Viewpoint - The company reported a significant improvement in its offshore engineering segment, with third-quarter revenue of 660 million, up from 210 million in the first half of the year, indicating a positive trend in business performance [1] Group 1: Company Performance - The offshore engineering segment's revenue for the first half of the year was 210 million, while the third-quarter revenue reached 660 million, showing a clear improvement [1] - The company has successfully transitioned to offshore wind power business and is gradually getting back on track [1] Group 2: Industry Outlook - Both the European and Chinese offshore wind markets are experiencing steady growth, which bodes well for the company's future prospects [1] - The company expresses confidence in further increasing its market share in the offshore wind sector [1]

Financial Performance - The group's revenue for the first three quarters of 2025 reached 3.72 billion CNY, a year-on-year increase of 4.56% [1] - The net profit attributable to shareholders was 69.71 million CNY, a year-on-year decrease of 76.1% [1] - In Q3 2025, revenue was 1.53 billion CNY, with a net profit of 15.88 million CNY [1] Business Segment Performance - Revenue from the offshore engineering equipment segment was 870 million CNY [1] - Revenue from the onshore wind energy equipment segment was 1.73 billion CNY [1] - Revenue from the power generation segment was 960 million CNY [1] Challenges and Strategic Moves - The decline in Q3 net profit was attributed to high credit impairment due to delayed accounts receivable and lower wind volumes affecting overall revenue and profit [1] - A strategic investor will be introduced at the subsidiary level by December 2024, resulting in an estimated minority shareholder loss of over 70 million CNY this year [1] Project Developments - The 200MW project in Puyang, Henan, was fully connected to the grid by the end of September [1] - The company currently operates approximately 1.8GW of power stations and has 500MW of projects under construction [1] - New project indicators are primarily concentrated in Hubei and Guangxi provinces [1] Market Outlook and Strategy - The offshore wind market in southern China, particularly in Guangdong, is expected to have a potential scale of nearly 15GW over the next three years [2] - The company aims to focus on high-quality development in offshore business, which is projected to significantly enhance profit margins compared to other segments [2] - Long-term goals include operating 3-5GW of wind power stations and optimizing asset structure through securitization [2][3] European Market Insights - The company is optimistic about the European offshore wind market, despite potential local production barriers and tariffs [2][3] - Historical trends suggest that reasonable local industry protection is likely, but challenges such as coastline and labor shortages may mitigate immediate risks [2][3] Future Development Plans - The company plans to become a leading player in the offshore wind sector within the next decade [3] - Immediate goals include accelerating strategic transformation and expanding offshore business through market engagement and order acquisition [3]

Core Insights - TianShun Wind Power (002531.SZ) reported its Q3 2025 results, revealing that 26 institutional investors hold a total of 1.033 billion shares, representing 57.48% of the company's total equity [1] - The top ten institutional investors collectively own 55.58% of the shares, with a slight increase of 0.27 percentage points compared to the previous quarter [1] Institutional Holdings - The top institutional investors include Shanghai TianShun Investment Management Co., Ltd., REAL FUN HOLDINGS LIMITED, and several major banks and funds [1] - The increase in holdings among the top ten institutional investors indicates a growing confidence in the company [1] Public Fund Activity - Three public funds increased their holdings, while four funds reduced their stakes, with a total decrease of 0.11% [2] - Nine new public funds disclosed their holdings, indicating a diversification of investment interest in TianShun Wind Power [2] - A total of 129 public funds did not disclose their holdings this quarter, suggesting potential shifts in investment strategies [2] Foreign Investment Trends - One foreign fund, Hong Kong Central Clearing Limited, reduced its holdings, reflecting a slight decline in foreign investment interest [2]

Core Insights - The company reported a revenue of 1,533,157,636.30 yuan for the third quarter of 2025, representing a year-on-year increase of 17.80% [1] - The net profit attributable to shareholders of the listed company was 15,884,761.78 yuan, showing a significant year-on-year decline of 79.01% [1] Financial Performance - Revenue for Q3 2025: 1,533,157,636.30 yuan, up 17.80% year-on-year [1] - Net profit for Q3 2025: 15,884,761.78 yuan, down 79.01% year-on-year [1]

Core Viewpoint - The company reported a revenue of 3.723 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 4.56%. However, the net profit attributable to shareholders decreased significantly by 76.10% to 69.7078 million yuan, indicating potential challenges in profitability despite revenue growth [1]. Financial Performance - The company's operating revenue for the first three quarters reached 3.723 billion yuan, which is a 4.56% increase compared to the previous year [1]. - The net profit attributable to shareholders was 69.7078 million yuan, showing a substantial decline of 76.10% year-on-year [1]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 57.988 million yuan, representing a decrease of 80.35% compared to the same period last year [1].

天顺风能（苏州）股份有限公司 董事、高级管理人员持有和买卖本公司股票管理制度 第一章 总则 第一条 为加强对天顺风能（苏州）股份有限公司（简称"公司"或"本公司"）董 事、高级管理人员所持本公司股份及其变动的管理，进一步明确管理程序，根据《中华人 民共和国公司法》（简称"《公司法》"）、《中华人民共和国证券法》（简称"《证券 法》"）、《上市公司董事和高级管理人员所持本公司股份及其变动管理规则》《深圳证 券交易所上市公司自律监管指引第 10 号--股份变动管理》等有关法律、行政法规、部门 规章、规范性文件（统称"法律法规"），及《天顺风能（苏州）股份有限公司章程》（简 称"公司章程"）的相关规定，并结合公司实际情况，制定本制度。 第二条 本制度适用于本公司董事、高级管理人员及本制度第十五条规定的自然人、 法人或其他组织持有及买卖本公司股票的管理。 高级管理人员是指公司总经理、副总经理、董事会秘书、财务总监。 第三条 公司董事和高级管理人员所持本公司股份，是指登记在其名下的和利用他人 账户持有的所有本公司股份；从事融资融券交易的，还包括记载在其信用账户内的本公司 股份。 第四条 公司董事和高级管理人员在买卖本公 ...

天顺风能（苏州）股份有限公司 （六）收购人及其他权益变动主体； （七）重大资产重组、再融资、重大交易、破产事项等有关各方； （八）为前述主体提供服务的中介机构及其相关人员； （九）法律法规及中国证监会规定的对上市、信息披露、停牌、复牌、退市 等事项承担相关义务的其他主体。 信息披露事务管理制度 第一章 总则 第一条 为了规范天顺风能（苏州）股份有限公司（简称"公司"）的信息 披露行为，加强信息披露事务管理，保护投资者合法权益，根据《中华人民共和 国公司法》《中华人民共和国证券法》《上市公司信息披露管理办法》《上市公 司信息披露暂缓与豁免管理规定》《深圳证券交易所股票上市规则》《深圳证券 交易所上市公司自律监管指引第 5 号——信息披露事务管理》等法律、行政法规、 部门规章、规范性文件、证券监管规则（统称"法律法规"）及《天顺风能（苏 州）股份有限公司章程》（简称"《公司章程》"）的有关规定，制订本制度。 第二条 本制度所称"信息"是指，所有可能对公司股票及其衍生品种交易 价格产生重大影响的信息，以及深圳证券交易所、中国证券监督管理委员会（简 称"深交所""中国证监会"，统称"证券监管部门"）要求披露的信息。 ...

天顺风能（苏州）股份有限公司 市值管理制度 第一章 总则 第一条 为加强天顺风能（苏州）股份有限公司（以下简称"公司"）市值 管理工作，切实推动公司提升投资价值，增强投资者回报，有效维护公司、全体 投资者特别是中小投资者及其他利益相关者的合法权益，实现可持续发展，根据 《中华人民共和国公司法》《中华人民共和国证券法》《国务院关于加强监管防 范风险推动资本市场高质量发展的若干意见》《上市公司信息披露管理办法》《上 市公司监管指引第10号——市值管理》和《天顺风能（苏州）股份有限公司章程》 （以下简称"《公司章程》"）等规定，并结合公司实际情况，制定本制度。 第二条 本制度所称市值管理，是指以提高公司质量为基础，为提升公司投 资价值和股东回报能力而实施的战略管理行为。 第三条 公司应当牢固树立回报股东意识，采取措施保护投资者尤其是中小 投资者利益，诚实守信、规范运作、专注主业、稳健经营，以新质生产力的培 育和运用，推动经营水平和发展质量提升，并在此基础上做好投资者关系管理， 增强信息披露质量和透明度，必要时积极采取措施提振投资者信心，推动公司 投资价值合理反映公司质量。 第二章 市值管理的目的和基本原则 第四条 ...

天顺风能（苏州）股份有限公司 关于举行2025年三季度网上业绩说明会的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导性 陈述或重大遗漏。 证券代码：002531 证券简称：天顺风能 公告编号：2025-069 衷心感谢广大投资者对公司的关注与支持，欢迎积极参加本次网上业绩说明会。 天顺风能（苏州）股份有限公司董事会 2025 年 10 月 29 日 参与方式一：在微信小程序中搜索"约调研"后，点击"网上说明会"，搜索"天顺风能" 参与交流； 参与方式二：微信扫一扫以下二维码，参与交流； 天顺风能（苏州）股份有限公司（"公司"）已于2025年10月29日在巨潮资讯网 （www.cninfo.com.cn）上披露了《2025年三季度报告》。为便于广大投资者进一步了解公司 2025年第三季度经营情况，公司定于2025年11月04日（星期二）下午15:00至16:30时在"约调 研"小程序上举行2025年三季度网上业绩说明会。 本次网上说明会将采用网络远程的方式举行，投资者可登录"约调研"小程序参与互动交 流。出席本次网上业绩说明会的人员有：公司董事长、总经理严俊旭先生，独立董事邓璠 ...

证券代码：002531 证券简称：天顺风能 公告编号：2025-067 天顺风能（苏州）股份有限公司 关于计提减值准备的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、本次计提减值准备情况概述 为真实反映天顺风能（苏州）股份有限公司（"公司"）的财务状况及经 营成果，根据《企业会计准则》《深圳证券交易所股票上市规则》等相关规定， 公司对截至2025年09月30日合并报表范围内的各类资产进行了减值测试，对可能 存在减值迹象的资产计提相应减值准备。 （一）计提减值准备的资产范围、总金额 （一）信用减值损失7,851.91万元 公司根据《企业会计准则第22号—金融工具确认与计量》的规定，对应收票 据、应收账款、其他应收款、长期应收款、其他流动资产等各类项的应收账款的 信用风险特征，在单项或组合基础上计提预期信用减值损失。公司根据历史信用 损失，结合当前状况、对未来经济的预测以及综合考虑前瞻性因素调整，考虑不 同客户的信用风险特征，确定存续期的预期信用损失率、计提预期信用损失。2025 年1月至9月，公司对应收账款、其他应收款、长期应收账款、应收票据、其他流 ...