Market Performance - On August 28, the professional engineering sector rose by 0.85% compared to the previous trading day, with Zhenhai Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Individual Stock Performance - Zhenhai Co., Ltd. (603637) closed at 11.78, with a gain of 7.97% and a trading volume of 274,900 shares, amounting to a transaction value of 318 million yuan [1] - Other notable performers included: - ShenlvdA (000032) at 27.93, up 7.01%, with a trading volume of 1,030,200 shares [1] - Tianwo Technology (002564) at 8.35, up 6.51%, with a trading volume of 667,000 shares [1] - Shenghui Integration (603163) at 40.50, up 6.02%, with a trading volume of 81,100 shares [1] Capital Flow Analysis - The professional engineering sector experienced a net outflow of 229 million yuan from institutional investors, while retail investors saw a net inflow of 154 million yuan [2] - Notable capital flows included: - Deep Sanda A (000032) with a net inflow of 206 million yuan from institutional investors [3] - Tianwo Technology (002564) with a net inflow of 25 million yuan from institutional investors [3] - Precision Steel Structure (600496) with a net inflow of 724,680 yuan from institutional investors [3]

Market Overview - The professional engineering sector increased by 1.04% on August 26, with Yaxiang Integration leading the gains [1] - The Shanghai Composite Index closed at 3868.38, down 0.39%, while the Shenzhen Component Index closed at 12473.17, up 0.26% [1] Top Gainers in Professional Engineering Sector - Yaxiang Integration (603929) closed at 42.45, up 10.00% with a trading volume of 77,900 shares and a transaction value of 329 million [1] - Sentai Co., Ltd. (603098) closed at 16.20, up 9.98% with a trading volume of 460,500 shares and a transaction value of 733 million [1] - Rishang Group (002593) closed at 5.64, up 9.94% with a trading volume of 679,200 shares and a transaction value of 373 million [1] Other Notable Performers - Aiman Co., Ltd. (605289) closed at 49.88, up 7.57% with a trading volume of 95,400 shares [1] - Nenghuizhi (301046) closed at 22.69, up 4.51% with a trading volume of 86,400 shares [1] - Shenghui Integration (603163) closed at 40.56, up 4.46% with a trading volume of 124,900 shares [1] Decliners in Professional Engineering Sector - Shikong Technology (605178) closed at 25.07, down 4.89% with a trading volume of 54,100 shares and a transaction value of 138 million [2] - Tongguan Mining Construction (920019) closed at 24.93, down 3.33% with a trading volume of 47,700 shares and a transaction value of 120 million [2] - Yongfu Co., Ltd. (300712) closed at 26.60, down 2.67% with a trading volume of 48,200 shares and a transaction value of 129 million [2] Capital Flow Analysis - The professional engineering sector saw a net inflow of 172 million from main funds, while retail funds experienced a net outflow of 82.72 million [2] - Notable net inflows from main funds included Rishang Group (1.22 million) and Shensanda A (1.03 million) [3] - Significant net outflows from retail funds were observed in Rishang Group (-6.23 million) and Shensanda A (-7.60 million) [3]

Group 1 - The core viewpoint of the news is that Tianwo Technology (002564) has shown a decline in stock price and a mixed performance in its latest financial results, indicating potential challenges ahead [1][3]. - As of August 25, 2025, Tianwo Technology's stock closed at 7.77 yuan, down 0.51%, with a turnover rate of 4.88% and a trading volume of 419,000 hands, amounting to 325 million yuan [1]. - The company experienced a net outflow of main funds amounting to 20.66 million yuan, which represents 6.36% of the total transaction amount, with significant outflows from large orders [1]. Group 2 - For the latest financial period ending in mid-2025, Tianwo Technology reported total operating revenue of 1.241 billion yuan, reflecting a year-on-year growth of 3.61%, while net profit attributable to shareholders decreased by 158.43% to 9.0621 million yuan [1]. - The company's non-recurring net profit was 1.4067 million yuan, showing a substantial year-on-year increase of 104.81% [1]. - Financial ratios indicate a current ratio of 1.606, a quick ratio of 1.259, and a debt-to-asset ratio of 93.18%, suggesting a high level of leverage [1]. Group 3 - Tianwo Technology, established in 2001 and located in Suzhou, primarily engages in the timber engineering construction industry, with a registered capital of approximately 858.90 million yuan [1][2]. - The company has made investments in 19 enterprises and participated in 81 bidding projects, showcasing its active engagement in the market [2]. - Tianwo Technology holds 34 trademark registrations and 105 patents, along with 11 administrative licenses, indicating a focus on intellectual property and regulatory compliance [2].

Core Viewpoint - Tianwo Technology (002564) reported mixed financial results for the first half of 2025, with revenue growth but significant losses in net profit, indicating challenges in the competitive market and potential cash flow issues [1][3]. Financial Performance Summary - Total revenue for the first half of 2025 reached 1.241 billion yuan, a year-on-year increase of 3.61% compared to 1.198 billion yuan in 2024 [1]. - The net profit attributable to shareholders was -9.0621 million yuan, a decline of 158.43% from a profit of 15.5084 million yuan in the previous year [1]. - The second quarter alone saw total revenue of 636 million yuan, up 12.16% year-on-year, but the net profit was -27.4546 million yuan, a staggering drop of 4288.85% [1]. - Gross margin decreased to 17.02%, down 1.65% year-on-year, while net margin fell to 0.85%, a decrease of 26.2% [1]. - Total receivables reached 1.17 billion yuan, representing a 5.66% increase from 1.1107 billion yuan in 2024, with receivables accounting for 4867.58% of net profit [1][3]. Cash Flow and Debt Analysis - Cash and cash equivalents decreased by 37.15% due to loan repayments [2]. - Short-term borrowings decreased by 42.53%, while long-term borrowings increased by 3.15% as part of financing structure adjustments [2]. - Financial expenses dropped by 47.21% due to a reduction in interest-bearing debt and financing costs [2]. - Operating cash flow increased by 41.72%, attributed to improved sales collections [2]. Asset and Liability Management - The company reported a significant increase in credit impairment losses, down 295.09%, due to provisions for bad debts [3]. - Asset impairment losses rose by 240.94%, reflecting changes in inventory write-downs [3]. - The company’s return on invested capital (ROIC) was 4.01%, indicating weak capital returns historically, with a median ROIC of 3.53% over the past decade [3]. Business Model and Operational Insights - The company relies heavily on research and marketing for its performance, necessitating a thorough examination of these driving factors [3]. - The financial health indicators suggest concerns regarding cash flow, debt levels, and receivables management, with cash flow to current liabilities at only 38.21% [3].

Group 1 - The company Tianwo Technology (002564.SZ) reported a revenue of 1.241 billion yuan for the first half of the year, representing a year-on-year increase of 3.61% [1] - The company incurred a net loss of 9.06 million yuan, while the net profit attributable to shareholders after deducting non-recurring gains and losses was 1.4067 million yuan, indicating a turnaround from loss to profit year-on-year [1] - The basic earnings per share were reported at -0.0106 yuan [1]

证券代码：002564 证券简称：天沃科技 公告编号：2025-043 苏州天沃科技股份有限公司 关于 2025 年半年度计提资产减值准备的公告 公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 （一）应收款项及合同资产减值准备的计提办法 本公司对于以摊余成本计量的金融资产、合同资产等，以预期信用损失为基 础确认损失准备。 对于应收票据、应收账款及合同资产，无论是否存在重大融资成分，本公司 均按照整个存续期的预期信用损失计量损失准备。 对于存在客观证据表明存在减值，以及其他适用于单项评估的应收票据、应 收账款、其他应收款、应收款项融资、合同资产及长期应收款等单独进行减值测 根据《企业会计准则》及《深圳证券交易所上市公司自律监管指引第 1 号 ——主板上市公司规范运作》等相关规定的要求，苏州天沃科技股份有限公司（以 下简称"公司"）为真实、准确地反映截至 2025 年 6 月 30 日的财务状况、资产价 值及经营成果，基于谨慎性原则，对公司及下属子公司的各类资产进行了全面检 查和减值测试，2025 年上半年拟计提各项资产减值准备共计-1,124.94 万元（正 数代 ...

苏州天沃科技股份有限公司 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 单位：人民币万元 | 非经营性资 | | 占用方与上市公司的 | 上市公司核算 | 2025 | 年期初占用 | 2025 年半年度 | 2025 年半年度 | 2025 年半年 | 2025 年半年度 | 占用形 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 资金占用方名称 | | | | | 占用累计发生金 | 占用资金的利息 | 度偿还累计发 | 期末占用资金 | | 占用性质 | | 金占用 | | 关联关系 | 的会计科目 | | 资金余额 | 额（不含利息） | （如有） | 生金额 | 余额 | 成原因 | | | 控股股东、实 | | | | | | | | | | | | | 际控制人及 | - | | - | - | - | - | - | - | | - - | - | | 其附属企业 | | | | | | | | | | | | | 小计 | - | | - | - | - | ...

苏州天沃科技股份有限公司 2025 年半年度财务报告全文 2025 年半年度财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 | 流动资产合计 | 3,870,852,860.12 | 4,267,680,262.48 | | --- | --- | --- | | 非流动资产： | | | | 发放贷款和垫款 | | | | 债权投资 | | | | 其他债权投资 | | | | 长期应收款 | | | | 长期股权投资 | 22,977,145.88 | 22,977,145.88 | | 其他权益工具投资 | | | | 其他非流动金融资产 | | | | 投资性房地产 | | | | 固定资产 | 1,042,897,535.97 | 1,069,402,907.09 | | 在建工程 | 1,660,160.29 | 1,409,216.89 | | 生产性生物资产 | | | | 油气资产 | | | | 使用权资产 | 4,881,094.76 | 1,049,576.76 | | 无形资产 | 166,382,632.39 | 169,066 ...

苏州天沃科技股份有限公司 关于在上海电气集团财务有限责任公司办理金融业务的 风险持续评估报告 根据《深圳证券交易所上市公司自律监管指引第 7 号——交易与关联交易》 的规定，结合上海电气集团财务有限责任公司（以下简称"财务公司"）提供的 《金融许可证》《营业执照》等有关证件资料及财务资料，苏州天沃科技股份有 限公司（以下简称"公司"）对财务公司的经营资质、业务和风险状况进行了评 估。现将有关情况报告如下： 一、财务公司基本情况 公司名称：上海电气集团财务有限责任公司 法定代表人：冯淳林 注册资本：人民币 30 亿元 股东结构（截至 2025 年 06 月 30 日）： | | 股东名称 | 持股比例 | | --- | --- | --- | | 1 | 上海电气集团股份有限公司 | 74.625% | | 2 | 上海电气香港有限公司 | 8% | | 3 | 上海电气控股集团有限公司 | 5% | | 4 | 上海电气集团香港有限公司 | 4.75% | | 5 | 上海机电股份有限公司 | 2.625% | | 6 | 上海汽轮机厂有限公司 | 1.25% | | 7 | 上海电气集团上海电机厂有限公司 ...

证券代码：002564 证券简称：天沃科技 公告编号：2025-042 苏州天沃科技股份有限公司 第四届监事会第五十三次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 苏州天沃科技股份有限公司（以下简称"公司"）第四届监事会第五十三次会 议于2025年 8月 22日下午14:45以现场加通讯方式在上海市普陀区中山北路 1715 号浦发广场 E 座 3 楼 301 会议室召开。本次会议于 2025 年 8 月 12 日以电话或邮 件的形式通知全体监事，会议由监事会主席丁炜刚先生主持，会议应到监事 3 名， 实到监事 3 名。本次会议出席人数、召开程序、议事内容均符合《中华人民共和 国公司法》和《苏州天沃科技股份有限公司章程》的有关规定，会议合法有效。 二、监事会会议审议情况 经与会监事认真审议，充分讨论，会议审议通过了以下议案： 1. 以 3 票同意、0 票反对、0 票弃权的表决结果审议通过了《关于 2025 年半 年度计提资产减值准备的议案》。 具体内容详见公司于 2025 年 8 月 23 日分别在《中国证券报》《上海证 ...