Core Viewpoint - The second largest shareholder of Tianhai Defense, China Great Wall Asset Management Co., plans to reduce its stake, which has attracted market attention [1]. Summary by Relevant Sections Shareholder Reduction Plan - China Great Wall Asset holds 106,429,235 shares of Tianhai Defense, accounting for 6.16% of the total share capital [1]. - The plan involves reducing up to 25,920,000 shares, representing 1.50% of the total share capital, within three months after the announcement [1]. - The reduction is attributed to operational and funding arrangements, with shares sourced from capital reserves during Tianhai Defense's bankruptcy restructuring [1]. Reduction Timing and Method - The reduction period will commence 15 trading days after the announcement and will last for three months, adhering to specified trading windows [1]. - If conducted through centralized bidding, the total shares reduced cannot exceed 1% of the total shares within any 90 consecutive days; if through block trading, it cannot exceed 2% [1]. - The reduction price will be determined based on market conditions [1]. Compliance and Governance - As of the announcement date, China Great Wall Asset is fulfilling its commitments made during the company's restructuring in December 2020 [2]. - The reduction plan will not lead to a change in control of the company, nor will it adversely affect the governance structure or ongoing operations [2]. - The board of directors will oversee the legal and compliant execution of the reduction plan and ensure timely information disclosure [2].

特别提示： 天海融合防务装备技术股份有限公司 关于持股5%以上股东减持股份预披露公告 中国长城资产管理股份有限公司保证向本公司提供的信息内容真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 证券代码：300008 证券简称：天海防务 公告编号：2025-024 公司第二大股东中国长城资产管理股份有限公司（以下简称"长城资产"）持有天海融合防 务装备技术股份有限公司（以下简称"天海防务"或"公司"）股份 106,429,235 股，占公司现有 总股本比例 6.16%。长城资产计划在本减持计划公告发布之日起 15 个交易日后的 3 个月内， 通过集中竞价或大宗交易方式减持公司股份不超过 25,920,000 股（占公司现有总股本比例 1.50%）。 近日，公司收到第二大股东长城资产出具的《股份减持计划的告知函》，现将有关情况公 告如下： 4、减持期间： （1）通过集中竞价交易方式进行减持的，减持期间为本减持计划公告之日起 15 个交易日 后的 3 个月内（在规定的窗口期内不减持）； 一、股东基本情况 1、股东名称：中国长城资产管理股份有限公司 2、持股数量：截至本公告披露日，长城资产持有公司股份 106, ...

证券代码：300008 证券简称：天海防务 公告编号：2025-023 天海融合防务装备技术股份有限公司 关于控股股东部分股份质押及解除质押的公告 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。 近日，天海融合防务装备技术股份有限公司（以下简称"天海防务"或"公司"）接到控 股股东厦门隆海重能投资合伙企业（有限合伙）（以下简称"隆海重能"）的通知，隆海重能 将所持有的部分公司股份办理了质押及解除质押手续，具体事项如下： 一、股东股份质押及解除质押基本情况 | 1、本次股份质押基本情况 | | --- | | 股东名称 | | 是否为控 股股东或 | 本次质 | 占其所 | 占公司 | 是否 | 是否 为补 | | 质押到期 | | 质押用 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 第一大股 | | 押数量 | 持股份 | 总股本 | 为限 | 充质 | 质押起始日 | 日 | 质权人 | 途 | | | 东及其一 | | （股） | 比例 | ...

Core Viewpoint - Tianhai Defense's subsidiary, Jiangsu Jinhaiyun Technology Co., Ltd., has had part of its bank accounts frozen due to a legal dispute stemming from a high-premium acquisition made in 2015 [1][2]. Group 1: Acquisition Details - In June 2015, Tianhai Defense acquired 100% of Jinhaiyun for a total transaction price of 1.355 billion yuan, which included issuing 50 million shares and cash payment of 657 million yuan [1]. - The acquisition price was significantly higher than Jinhaiyun's net asset fair value of 171 million yuan, resulting in a premium rate of 1659.31% [1]. - The high premium was based on trust in the original management team's forecast of Jinhaiyun's future performance, with the excess amount recognized as goodwill [2]. Group 2: Performance Issues and Legal Disputes - From 2015 to 2017, Tianhai Defense repeatedly requested actual operating data from Jinhaiyun's original management team, which was consistently denied [3]. - After the performance commitment period, Jinhaiyun's revenue plummeted, with a net profit of only 3.2875 million yuan in 2018, far below the forecast of 16.7 million yuan [3]. - Regulatory scrutiny followed, leading to a 2022 administrative penalty against Jinhaiyun for fabricating trade business to inflate profits by 39.4644 million yuan in 2017 [3]. - In January 2024, Tianhai Defense sued the original management team for 37.5611 million yuan due to compensation contract disputes, with a court ruling in February 2025 ordering the team to pay this amount [3]. - Additionally, Tianhai Defense filed another lawsuit in March 2024 for 172 million yuan in goodwill losses, claiming the original management team's actions significantly devalued the acquired assets [3].

证券代码：300008 证券简称：天海防务 公告编号：2025-022 天海融合防务装备技术股份有限公司 关于全资子公司部分银行账户被冻结的公告 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。 天海融合防务装备技术股份有限公司（以下简称"公司"或"天海防务"） 财务人员于 近日通过查询银行账户获悉，公司全资子公司江苏金海运科技有限公司（以下简称"金海运"） 部分银行账户部分资金被泰州市高港区人民法院冻结，现将相关情况公告如下： 一、银行账户被冻结情况 | 序号 | 账户名称 | 开户行 | 银行账号 | 账户性质 | 申请冻结金 额（元） | 实际冻结金 额（元） | | --- | --- | --- | --- | --- | --- | --- | | 1 | 江苏金海运科技有限公司 | 中国银行泰州分 行营业部 | 53***********18 | 基本户 | 13,708,485. | 190,691.50 | | 2 | 江苏金海运科技有限公司 | 招商银行股份有 | 52***********28 | 一般户 | 30 | 100.28 | | ...

Core Insights - The Chinese shipbuilding industry is experiencing rapid development under strong policy support, with significant growth in key metrics such as completed shipbuilding volume, new orders, and backlog orders in 2024 [1][11][21] Industry Overview - The shipbuilding industry is a strategic sector crucial for national economic development and defense security, providing essential technical equipment for marine development, transportation, and national defense [3][11] - The industry has seen a variety of ship classifications based on materials, navigation areas, power systems, propulsion methods, and purposes [4][3] Current Development Status - In 2024, the shipbuilding industry in China is projected to maintain a positive growth trend, with completed shipbuilding volume reaching 48.18 million deadweight tons, a year-on-year increase of 13.8% [11] - New orders received amounted to 113.05 million deadweight tons, marking a 58.8% increase, while the backlog of orders reached 208.72 million deadweight tons, up 49.7% [11][13] Competitive Landscape - The shipbuilding industry is characterized by a concentrated market structure, with leading enterprises like China Shipbuilding Group dominating the sector due to their technological and financial advantages [15] - The second tier includes companies like Jiangsu Yangzijiang Shipbuilding Group, which have mature shipbuilding technologies and robust supply chains [15] Industry Trends - The industry is moving towards green shipbuilding, focusing on minimizing environmental impact and promoting sustainable development [21] - There is a strong push for automation and smart technologies to enhance production efficiency and reduce reliance on manual labor, particularly in welding processes [22] - Internationalization is a key trend, with Chinese shipbuilding companies securing a significant share of global orders, indicating their competitive strength in international markets [23]

证券代码：300008 证券简称：天海防务 公告编号：2025-021 天海融合防务装备技术股份有限公司 关于为子公司保函事项提供反担保 及子公司为孙公司提供担保的公告 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。 因经营需要，近日，天海融合防务装备技术股份有限公司（以下简称"天海防务"或"公 司"）拟为全资子公司委外开具保函事项提供反担保，及全资子公司为孙公司申请银行综合授 信提供担保。具体情况如下： 一、概述 （一）基本情况 1、公司的全资子公司江苏大津重工有限公司（以下简称"大津重工"）与安徽国贸海畅 贸易有限公司（以下简称"国贸海畅"）签署了 2 艘 5200DWT 多用途杂货船项目（SEACON SHIPPING）建造合同及对应的《船舶出口合作协议》（以下简称"主合同"）。公司拟为大 津重工就上述主合同涉及保函向国贸海畅提供合计不超过 1,065 万美元的反担保，预计担保总 额折合人民币约为 7,644.78 万元（以 2025 年 3 月 31 日汇率折算，实际担保金额将以担保发生 时汇率进行折算），并与国贸海畅签署了《担保（保证）合同》。该反担 ...

Market Overview - The Shanghai Composite Index fell by 0.46% on March 31, with four sectors rising, led by telecommunications and home appliances, which increased by 0.58% and 0.37% respectively [1] - The sectors with the largest declines were electric power equipment and national defense industry, which dropped by 1.94% and 1.81% respectively [1] - Overall, there was a net outflow of 40.409 billion yuan in the main funds across the two markets, with five sectors experiencing net inflows [1] Sector Performance - The public utilities sector had the largest net inflow of funds, totaling 311 million yuan, while it rose by 0.15% [1] - The steel sector also saw a net inflow of 283 million yuan despite a decline of 1.45% [1] - A total of 26 sectors experienced net outflows, with electric power equipment leading at 5.832 billion yuan, followed by machinery equipment with 5.311 billion yuan [1] National Defense Industry - The national defense industry saw a decline of 1.81% with a net outflow of 2.175 billion yuan [2] - Out of 139 stocks in this sector, 22 rose while 115 fell, including one stock that hit the daily limit down [2] - The top three stocks with net inflows were Yaxing Anchor Chain (22.978 million yuan), Zhongke Haixun (21.664 million yuan), and Aopu Optoelectronics (15.279 million yuan) [2] National Defense Industry Outflows - The top three stocks with the largest net outflows were Guangqi Technology (-24.526 million yuan), Jingjiawei (-13.736 million yuan), and Tianhai Defense (-13.063 million yuan) [4] - Other notable outflows included China Shipbuilding (-8.134 million yuan) and AVIC Heavy Machinery (-9.586 million yuan) [4]

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、概述 近日，因业务发展及经营需要，天海融合防务装备技术股份有限公司（以下简称"天海防 务"或"公司"）以自有资金 500 万元设立了子公司泰州市隆海特种装备科技有限公司（以下 简称"隆海特装"），持股比例为 100%。隆海特装已完成工商注册登记，并取得泰州医药高 新技术产业开发区（泰州市高港区）数据局颁发的《营业执照》。 根据《深圳证券交易所创业板股票上市规则》、《上市公司重大资产重组管理办法》和《公 司章程》等有关规定，本次成立全资子公司不构成重大资产重组，亦不构成关联交易，不存在 重大法律障碍，无需提交公司董事会、股东大会审议。 证券代码：300008 证券简称：天海防务 公告编号：2025-020 天海融合防务装备技术股份有限公司 关于设立全资子公司并完成工商注册登记的公告 经营范围：一般项目：技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广； 销售代理；特种设备销售；特种设备出租；贸易经纪（除依法须经批准的项目外，凭营业执照 依法自主开展经营活动） 股权结构：天海防务持股 100%。 第 1 ...

（一）基本情况 1、公司的全资二级子公司江苏佳美海洋工程装备有限公司（以下简称"佳美海洋"）拟 以其所拥有的部分机器设备作为租赁标的物，与邦银金融租赁股份有限公司开展售后回租融资 业务，融资金额为人民币 5,000 万元，期限不超过 24 个月。公司将为上述融资租赁业务所产 生的租金总额（含租息）共计 5,337.75 万元提供不可撤销的连带责任担保，并签署《保证合同》， 具体内容以实际签署的保证合同为准。 证券代码：300008 证券简称：天海防务 公告编号：2025-018 天海融合防务装备技术股份有限公司 关于为子公司提供担保及接受子公司担保的公告 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。 因经营需要，近日，天海融合防务装备技术股份有限公司（以下简称"天海防务"或"公 司"）拟为全资子公司开展售后回租融资业务提供担保，及全资子公司拟为公司申请银行综合 授信提供担保。具体情况如下 一、概述 2、公司拟向北京银行股份有限公司上海分行申请额度不超过（含）8,000 万元人民币的综 合授信，期限不超过（含）2 年，主要用于补充生产、经营中的流动资金及开具保 ...