Core Viewpoint - Tianli Technology announced a reduction in shareholding by key stakeholders, indicating a shift in ownership dynamics within the company [1] Summary by Relevant Sections Shareholding Changes - Qian Yongyao and his concerted action parties, Jiangyin Xinyuan Investment Co., Ltd. and Tianjin Zhihui Investment Partnership (Limited Partnership), reduced their holdings in the company through centralized bidding and block trading [1] - After the equity change, the total number of shares held by these parties is 29,630,098 shares, decreasing their ownership percentage from 18.42% to 15.00% [1] - Specifically, Qian Yongyao reduced his holdings by 1,898,400 shares, lowering his stake from 13.26% to 12.30% [1] - Tianjin Zhihui no longer holds any shares in the company [1] Control and Restrictions - The equity change does not involve a change in the company's controlling shareholder or actual controller [1] - The shares held by these parties are free from any pledges, freezes, or other rights restrictions [1]

Group 1 - The internet insurance sector experienced a decline of 1.43%, ranking among the top losers in concept sectors, with notable declines from Tianli Technology, Xinhua Insurance, and Jiayun Technology [1] - The main funds in the internet insurance sector saw a net outflow of 1.301 billion yuan, with 10 stocks experiencing net outflows, and 7 stocks seeing outflows exceeding 10 million yuan [2] - The stock with the highest net outflow was Dongfang Caifu, which had a net outflow of 1.230 billion yuan, followed by Weining Health, Jinzhen Shares, and China Ping An [2] Group 2 - Among the stocks in the internet insurance sector, the top gainers included Aishida, Tongfang Shares, and Qitian Technology, with increases of 1.04%, 0.80%, and 0.27% respectively [1][3] - The stocks with the highest net outflows included Dongfang Caifu (-1.85%), Weining Health (-1.81%), and Jinzhen Shares (-1.97%) [2][3] - The net inflow leaders in the sector were Tongfang Shares, Xinhua Insurance, and Xinzhisoft, with net inflows of 69.77 million yuan, 10.51 million yuan, and 5.81 million yuan respectively [2][3]

Core Viewpoint - Tianli Technology is a specialized provider of mobile information application solutions, with advantages in mobile information services and internet insurance business [1] Group 1: Business Overview - Tianli Technology was established on January 18, 2006, and listed on the Shenzhen Stock Exchange on October 9, 2014, with its registered and office address in Shangrao City, Jiangxi Province [1] - The main business includes mobile information services and internet insurance, collaborating with telecom operators to provide services [1] - The company belongs to the Shenwan industry classification of Computer - IT Services II - IT Services III, and is associated with sectors such as fintech and internet finance [1] Group 2: Financial Performance - For Q3 2025, Tianli Technology reported revenue of 346 million yuan, ranking 86th out of 131 in the industry, with the industry leader, Digital China, generating 102.365 billion yuan [2] - The revenue composition shows that insurance product services accounted for 80.45% (186 million yuan), while mobile information services contributed 19.53% (45.11 million yuan) [2] - The net profit for the same period was 5.7345 million yuan, ranking 68th in the industry, with the top performer, Unisplendour, achieving a net profit of 1.723 billion yuan [2] Group 3: Financial Ratios - As of Q3 2025, Tianli Technology's debt-to-asset ratio was 6.90%, down from 8.43% the previous year, significantly lower than the industry average of 38.93% [3] - The gross profit margin for Q3 2025 was 3.04%, slightly down from 3.21% year-on-year, and also below the industry average of 29.96% [3] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 23.83% to 32,000, while the average number of circulating A-shares held per account increased by 31.29% to 6,183.67 [5] Group 5: Leadership - The chairman of the company is Gao Lei, aged 48, who has been in office since June 2019 and is also the general manager of Shangrao Investment Holding Group [4]

Summary of Key Points Core Viewpoint - On October 28, Tianli Technology executed a block trade of 80,000 shares at a transaction price of 25.79 yuan, which represents a discount of 12.4% compared to the market closing price of 29.44 yuan, with a total transaction value of 2.0632 million yuan, accounting for 0.37% of the total trading volume for the day [1][2]. Group 1: Transaction Details - The block trade involved 80,000 shares of Tianli Technology, with a transaction price of 25.79 yuan per share [2]. - The total transaction amount was 2.0632 million yuan, which is a small fraction (0.37%) of the total trading volume on that day [1][2]. - The trade was conducted by an institutional buyer through the brokerage firm, China Merchants Securities [2].

Market Overview - On October 27, the IT services sector rose by 1.09%, with Haixia Innovation leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Top Performers - Haixia Innovation (300300) closed at 7.66, with a significant increase of 20.06% and a trading volume of 1.7959 million shares, totaling a transaction value of 1.292 billion [1] - Huibo Yuntong (301316) saw a rise of 10.70%, closing at 55.64 with a transaction value of 1.315 billion [1] - Luqiao Information (920748) increased by 8.16%, closing at 45.98 with a transaction value of 181 million [1] Underperformers - Qiming Information (002232) experienced a decline of 5.97%, closing at 20.48 with a trading volume of 303.8 thousand shares and a transaction value of 625 million [2] - Liandi Information (920790) fell by 4.60%, closing at 65.66 with a transaction value of 91.6477 million [2] - Huichan Co., Ltd. (688500) decreased by 3.25%, closing at 70.63 with a transaction value of 214 million [2] Capital Flow - The IT services sector saw a net inflow of 230 million from institutional investors, while retail investors experienced a net inflow of 33.9954 million [2][3] - Major stocks like Haixia Innovation and Huasheng Tiancheng attracted significant institutional investment, with net inflows of 166 million and 149 million respectively [3] Summary of Individual Stock Performance - Haixia Innovation led with a net institutional inflow of 166 million, but faced a retail outflow of 62.8714 million [3] - Huasheng Tiancheng had a net institutional inflow of 149 million, with retail outflows totaling 124 million [3] - Other notable stocks included Hande Information (300170) with a net institutional inflow of 77.3047 million [3]

Core Insights - Tianshi Technology (300399.SZ) reported a total operating revenue of 346 million yuan for Q3 2025, with a net profit attributable to shareholders of 5.82 million yuan, an increase of 13.66 million yuan compared to the same period last year [1] Financial Performance - The company experienced a net cash outflow from operating activities of 51.02 million yuan [1] - The latest debt-to-asset ratio stands at 6.90%, a decrease of 1.53 percentage points from the same period last year [3] - The gross profit margin is reported at 3.04%, reflecting an increase of 0.06 percentage points from the previous quarter, marking two consecutive quarters of growth [3] - Return on equity (ROE) is at 1.13%, up by 2.68 percentage points compared to the same period last year [3] - The diluted earnings per share (EPS) is 0.03 yuan, an increase of 0.07 yuan from the same period last year [3] - Total asset turnover ratio is 0.62 times, while inventory turnover ratio is 20.68 times [3] Shareholder Structure - The number of shareholders is 32,000, with the top ten shareholders holding a total of 95.24 million shares, accounting for 48.20% of the total share capital [3] - The largest shareholder is Shangrao Digital and Financial Industry Investment Group Co., Ltd., holding 30.00% of the shares [3]

Core Insights - Tianli Technology (300399.SZ) reported a revenue of 346 million yuan for the first three quarters of 2025, representing a year-on-year decrease of 8.66% [1] - The net profit attributable to shareholders of the listed company was 5.82 million yuan, showing a significant year-on-year increase of 174.24% [1] - The net loss attributable to shareholders after deducting non-recurring gains and losses was 14.23 million yuan [1] - The basic earnings per share stood at 0.03 yuan [1]

Financial Performance - The company's operating revenue for Q3 2025 was ¥114,566,646.11, a decrease of 17.49% compared to the same period last year[4] - The net profit attributable to shareholders was -¥2,201,807.14, representing a decline of 121.87% year-on-year[4] - The company's basic earnings per share were -¥0.01, a decrease of 120.00% compared to the same period last year[4] - Total operating revenue for the current period is CNY 345,543,466.48, a decrease of 8.68% from CNY 378,292,363.95 in the previous period[20] - Net profit for the current period is CNY 5,734,521.75, compared to a net loss of CNY 8,076,329.08 in the previous period[21] - Earnings per share for the current period is CNY 0.03, recovering from a loss of CNY 0.04 in the previous period[21] Cash Flow - The net cash flow from operating activities was -¥51,017,605.49, a significant decrease of 886.23% compared to the previous year[11] - Cash inflow from operating activities totaled $448,980,611.21, a decrease from $472,716,640.86 in the previous period[25] - Cash outflow from operating activities was $499,998,216.70, compared to $466,227,718.93 previously, resulting in a net cash flow from operating activities of -$51,017,605.49, down from $6,488,921.93[25] - Cash inflow from investing activities reached $635,043,245.20, significantly higher than $103,588,872.99 in the prior period[25] - Cash outflow from investing activities was $587,538,244.13, compared to $360,435,865.05 previously, leading to a net cash flow from investing activities of $47,505,001.07, a recovery from -$256,846,992.06[25] - Cash inflow from financing activities was $4,687,702.76, with cash outflow totaling $14,101,691.41, resulting in a net cash flow from financing activities of -$9,413,988.65[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥559,258,255.39, down 0.86% from the end of the previous year[4] - Total current assets at the end of the reporting period amount to 539,072,507.03 RMB, a slight decrease from 543,017,049.86 RMB at the beginning of the period[18] - Total non-current assets decreased from 21,087,533.28 RMB to 20,185,748.36 RMB[18] - Total liabilities amount to CNY 38,607,821.85, slightly up from CNY 38,058,302.39 in the previous period[19] - Total equity attributable to shareholders of the parent company is CNY 513,267,487.77, down from CNY 517,328,814.62 in the previous period[19] - The company has a total of CNY 520,650,433.54 in total equity, down from CNY 526,046,280.75 in the previous period[19] Shareholder Information - Total number of common shareholders at the end of the reporting period is 31,952[13] - The largest shareholder, Shangrao Digital and Financial Industry Investment Group Co., Ltd., holds 30.00% of shares, totaling 59,280,000 shares[13] - The second-largest shareholder, Qian Yongyao, holds 13.19% of shares, totaling 26,064,121 shares[13] Inventory and Contract Liabilities - The company's inventory increased by 25,122.77% to ¥32,277,769.87, mainly due to pending settlements for certain business transactions[8] - The company's contract liabilities rose by 85.73% to ¥21,955,477.89, attributed to pending settlements for certain business transactions[8] Investment Income - The company reported a 3332.51% increase in investment income, amounting to ¥19,668,505.13, primarily due to gains from the disposal of stocks held by a subsidiary[10] - The company has reported a significant increase in investment income of CNY 19,668,505.13 compared to CNY 573,006.41 in the previous period[20] Other Financial Details - The company’s deferred tax liabilities decreased to CNY 379,244.04 from CNY 5,364,852.17 in the previous period[19] - The company has a total of 79,383,674.38 RMB in cash and cash equivalents, down from 92,310,267.45 RMB[18] - The ending cash and cash equivalents balance was $74,283,273.69, down from $110,570,940.91 in the previous period[26] - The company reported a significant increase in cash received from investment recoveries, totaling $578,036,384.68 compared to $102,000,000.00 previously[25] - The company experienced a decrease in cash paid for employee compensation, which was $28,585,162.25, slightly up from $28,090,045.57[25] - The third quarter financial report was not audited[27]

地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于江西天利科技股份有限公司 2025 年第二次临时股东会的 法律意见书 上海市锦天城律师事务所 关于江西天利科技股份有限公司 2025 年第二次临时股东会的 法律意见书 致：江西天利科技股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受江西天利科技股份有限 公司（以下简称"公司"、"天利科技"）的委托，就公司召开 2025 年第二次临时 股东会的有关事宜，根据《中华人民共和国公司法》（以下简称"《公司法》"） 《中华人民共和国证券法》（以下简称"《证券法》"）及《江西天利科技股份有 限公司章程》（以下简称"《公司章程》"）的有关规定，出具本法律意见书。 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业 务管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履 行了法定职责，遵循了勤勉尽责和诚实信用原则，对本次股东会所涉及的相关 事项进行了必要的核查和验证 ...

证券代码：300399 证券简称：天利科技 公告编号：2025-081 江西天利科技股份有限公司 2025 年第二次临时股东会决议公告 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。 特别提示： 1、本次股东会无新增、变更、否决议案的情形； 2、本次股东会无涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 1、召开时间 （1）现场会议召开时间：2025 年 10 月 13 日（星期一）14:30； （2）网络投票时间为：2025 年 10 月 13 日（星期一）。其中通过深交所交 易系统进行网络投票的具体时间为：2025 年 10 月 13 日 9:15-9:25、09:30-11:30、 13:00-15:00；通过深交所互联网投票系统进行网络投票的具体时间为：2025 年 10 月 13 日 9:15 至 15:00 期间的任意时间； 2、现场会议召开地点：江西省上饶市信州区吉阳中路 580 号青龙湖国际公 馆 1 号楼 13 楼 1305 室。 3、会议召开方式：现场投票与网络投票相结合的方式。 4、召集人：公司董事会。 7、会议的出席情况： （ ...