Group 1 - Tianlu Technology's stock increased by 5.04%, reaching 28.98 CNY per share, with a trading volume of 60.28 million CNY and a turnover rate of 3.35%, resulting in a total market capitalization of 3.197 billion CNY [1] - Suzhou Tianlu Optical Technology Co., Ltd. was established on November 9, 2010, and went public on August 13, 2021. The company's main business involves the research, production, and sales of light guide plates, with revenue composition being 97.85% from light guide plates and 2.15% from other sources [1] Group 2 - Among Tianlu Technology's top ten circulating shareholders, a fund under Dacheng Fund holds a position. The Dacheng CSI 360 Internet + Index A (002236) reduced its holdings by 13,800 shares in the third quarter, now holding 640,800 shares, which accounts for 1% of circulating shares. The estimated floating profit today is approximately 890,800 CNY [2] - The Dacheng CSI 360 Internet + Index A (002236) was established on February 3, 2016, with a latest scale of 788 million CNY. Year-to-date returns are 36.11%, ranking 1392 out of 4216 in its category; one-year returns are 44.66%, ranking 944 out of 3889; and since inception, returns are 221.01% [2] Group 3 - The fund manager of Dacheng CSI 360 Internet + Index A (002236) is Xia Gao, who has been in the position for 10 years and 333 days. The total asset scale under management is 2.494 billion CNY, with the best fund return during the tenure being 225.08% and the worst being -71.74% [3]

证券代码：301045 证券简称：天禄科技 公告编号：2025-078 苏州天禄光科技股份有限公司 关于控股股东、实际控制人及其一致行动人 减持计划实施完毕的公告 公司控股股东、实际控制人梅坦先生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。 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、本次权益变动系控股股东、实际控制人之一梅坦先生履行此前披露的股 份减持计划所致，不触及要约收购。 2、本次权益变动后，梅坦先生及其一致行动人合计持有公司股份 49,186,234 股，占公司总股本比例为 44.5857%。 3、本次权益变动不会导致公司控股股东及实际控制人发生变更，不会对公 司治理结构及持续经营产生重大影响。 苏州天禄光科技股份有限公司（以下简称"公司"）于 2025 年 7 月 23 日披 露了《关于控股股东、实际控制人之一减持股份预披露公告》（公告编号： 2025-042），公司控股股东、实际控制人之一梅坦先生拟自减持公告披露之日起 15 个交易日后 3 个月内（即 2025 年 8 月 14 日-20 ...

Core Viewpoint - Tianlu Technology (301045) demonstrated strong profitability and operational resilience in Q3 2025, achieving a net profit of 10.099 million yuan, a significant year-on-year increase of 106% despite industry cyclical adjustments and external challenges [1][2]. Financial Performance - In Q3 2025, the company reported an operating income of 151 million yuan, with a notable increase in net profit and a 125.87% growth in non-recurring net profit, indicating substantial improvement in core business profitability [2]. - The net cash flow from operating activities surged to 90.6104 million yuan, reflecting a year-on-year increase of 468.16%, showcasing effective capital turnover and cost control [2]. - As of September 30, 2025, total assets reached 1.486 billion yuan, a 9.28% increase from the previous year, while equity attributable to shareholders grew by 3.07% to 1.025 billion yuan [2]. Strategic Initiatives - The company has extended its focus beyond light guide plates to adjacent segments in the display industry, establishing Anhui Jiguang New Materials Co., Ltd. to specialize in the research, production, and sales of TAC film [3]. - TAC film is a critical raw material for display panels, playing a vital role in protecting polarizers and adjusting optical properties, positioning the company for a "second growth curve" [3]. R&D and Capacity Expansion - Tianlu Technology has maintained steady R&D investment, with expenses reaching 26.7604 million yuan, reflecting a commitment to technological innovation [4]. - The ongoing construction projects have increased by 45.09% since the beginning of the year, primarily due to the continuous advancement of optical plate and TAC film projects, indicating future capacity release and product structure optimization [4]. - Analysts note that the company has achieved counter-cyclical growth in a complex market environment, with improved cash flow and asset structure, making its future performance in high-end display materials promising [4].

Core Insights - Tianlu Technology (301045.SZ) reported a revenue of 447 million yuan for the first three quarters of 2025, representing a year-on-year decrease of 9.93% [1] - The net profit attributable to shareholders of the listed company was 25.27 million yuan, showing a year-on-year increase of 26.56% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 20.70 million yuan, reflecting a year-on-year growth of 14.19% [1] - The basic earnings per share stood at 0.23 yuan [1]

Core Viewpoint - Tianlu Technology (301045.SZ) reported a decline in revenue for the first three quarters of 2025, while net profit showed an increase, indicating a mixed financial performance [1] Financial Performance - The company achieved an operating income of 447 million yuan, a year-on-year decrease of 9.93% [1] - Net profit attributable to shareholders was 25.27 million yuan, reflecting a year-on-year increase of 26.56% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 20.70 million yuan, up 14.19% year-on-year [1] - Basic earnings per share stood at 0.23 yuan [1]

证券代码：301045 证券简称：天禄科技 公告编号：2025-075 苏州天禄光科技股份有限公司 第四届董事会第二次会议决议公告 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。 一、董事会会议召开情况 苏州天禄光科技股份有限公司（以下简称"公司"）第四届董事会第二次会 议的通知于 2025 年 10 月 24 日以邮件、即时通讯工具等方式发出。本次会议于 2025 年 10 月 29 日在公司会议室以现场结合通讯的方式召开。本次会议应出席 董事 7 人，实际出席董事 7 人。会议由公司董事长梅坦先生主持，公司高级管理 人员列席了会议。本次会议的召集、召开和表决程序符合有关法律、法规和《公 司章程》的规定。 二、董事会会议审议情况 1、审议通过《2025 年第三季度报告》 表决结果：7 票同意，0 票反对，0 票弃权。 2、审议通过《关于 2025 年第三季度计提资产减值准备的议案》 经审议，董事会同意 2025 年第三季度公司计提各项减值准备金额合计 -2,378,520.15 元（损失以"-"号表示），其中计提应收账款坏账准备-323,685.33 元，转 ...

Revenue and Profitability - The company's revenue for Q3 2025 was ¥150,830,750.29, a decrease of 12.79% compared to the same period last year[5] - Net profit attributable to shareholders increased by 106.00% to ¥10,098,587.24 for the quarter, while year-to-date net profit rose by 26.56% to ¥25,271,171.74[5] - Basic and diluted earnings per share for the quarter were both ¥0.09, reflecting a 125.00% increase year-on-year[5] - Total operating revenue decreased to ¥446,926,634.57 from ¥496,214,059.96, representing a decline of approximately 9.1% year-over-year[19] - Net profit increased to ¥21,731,895.88 from ¥18,099,576.53, reflecting a growth of approximately 20.5% year-over-year[20] - Profit attributable to shareholders of the parent company rose to ¥25,271,171.74 from ¥19,967,113.20, an increase of around 26.5% year-over-year[20] - Basic and diluted earnings per share improved to ¥0.23 from ¥0.18, marking a growth of approximately 27.8% year-over-year[21] - The company reported a comprehensive income total of ¥21,732,776.09 compared to ¥18,100,719.33, indicating an increase of about 20.5% year-over-year[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,485,550,805.66, representing a 9.28% increase from the previous year[5] - The total assets increased to ¥1,485,550,805.66 from ¥1,359,420,316.10, indicating growth in the company's asset base[17] - The company's long-term borrowings increased by 34.02% to ¥89,064,079.99, primarily due to loans for the optical board factory project[10] - Total liabilities increased to ¥306,733,506.21 from ¥277,897,354.84, an increase of about 10.4% year-over-year[18] - The total liabilities decreased, with short-term borrowings at ¥36,509,358.90, down from ¥50,372,917.82[17] Cash Flow - Cash flow from operating activities showed a significant increase of 468.16% year-to-date, totaling ¥90,610,381.74[5] - The net cash flow from operating activities was ¥90,610,381.74, a significant increase of 468.16% compared to the previous period, primarily due to the gradual consumption of inventory and a decrease in the price of optical board materials[11] - The net cash flow from investing activities was -¥228,656,779.82, reflecting a decrease of 608.93%, mainly due to expenditures on the optical board factory construction and the Anhui Jiguang TAC film project[11] - The net cash flow from financing activities was ¥75,977,109.06, a decrease of 42.70%, attributed to changes in minority shareholder investments and bank borrowings[11] - Net cash flow from operating activities was $90.61 million, a significant improvement from a net outflow of $24.61 million in the previous period[24] - Total cash inflow from investment activities was $339.24 million, compared to $476.18 million in the prior period, indicating a decrease of approximately 29%[24] - Cash outflow from investment activities totaled $567.89 million, up from $508.44 million, reflecting an increase of about 11.6%[24] - Net cash flow from financing activities was $75.98 million, down from $132.59 million, representing a decline of approximately 42.5%[24] - The ending cash and cash equivalents balance was $285.60 million, down from $448.88 million, indicating a decrease of about 36.4%[24] - Cash inflow from operating activities totaled $515.90 million, slightly up from $507.56 million, showing a modest increase of about 0.7%[24] - Cash outflow for purchasing goods and services was $290.81 million, down from $406.39 million, reflecting a decrease of approximately 28.5%[24] - Cash paid for employee compensation was $93.35 million, consistent with $93.16 million in the previous period, showing stability in labor costs[24] - Cash received from investment recoveries was $337.34 million, down from $463.54 million, indicating a decrease of about 27.2%[24] - The company’s cash flow from financing activities included $80 million from new investments, which was consistent with the previous period[24] Shareholder Information - The total number of common shareholders at the end of the reporting period was 7,978, with no preferred shareholders having restored voting rights[13] - The largest shareholder, Meitan, holds 25.71% of the shares, amounting to 28,360,341 shares, with 21,270,256 shares under lock-up[13] Inventory and Other Financial Metrics - The inventory decreased to ¥77,918,583.56 from ¥98,657,213.29, reflecting a reduction in stock levels[17] - The company's long-term investments in other debt instruments decreased to ¥113,087,314.66 from ¥161,907,063.59[17] - The company's financial expenses decreased by 33.76% to -¥3,151,483.33, attributed to reduced interest income and exchange gains[10] - The company’s other income increased by 81.10% to ¥2,801,067.66, mainly due to an increase in VAT deductions[10] - Total operating costs decreased to ¥423,403,834.54 from ¥473,785,848.53, a reduction of about 10.6% year-over-year[20]

证券代码：301045 证券简称：天禄科技 公告编号：2025-077 苏州天禄光科技股份有限公司 关于 2025 年第三季度计提资产减值准备的公告 | 组合名称 | 确定组合的依据 | 计提方法 | | --- | --- | --- | | 1：账龄组合 | 本公司根据以往的历史经验对 应收账款计提比例作出最佳估 | 按账龄与整个存续期预期信用损 | | 组合 | 计，参考应收账款的账龄进行信 | 失率对照表，计算预期信用损失。 | | | 用风险组合分类。 | | | 组合 2：合并范围 | 根据业务性质，除非有客观证据 表明发生坏账损失，否则不计提 | 通过违约风险敞口和整个存续期 预计信用损失率，计算预期信用损 | | 内单位往来组合 | 坏账准备。组合核算内容包括： | 失。 | | | 合并范围内单位往来组合。 | | （二）存货跌价准备 本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。 苏州天禄光科技股份有限公司（以下简称"公司"）于 2025 年 10 月 29 日 召开第四届董事会第二次会议，审议通过了《关于 2025 年第三季度计提资产减 ...

Group 1 - Tianlu Technology conducted a block trade of 749,300 shares on October 22, with a transaction value of 16.48 million yuan, accounting for 20.98% of the total trading volume for the day [1][2] - The transaction price was set at 22 yuan, representing a discount of 19.12% compared to the market closing price of 27.2 yuan [1][2] - The buyer was Dongwu Securities Co., Ltd., while the seller was Zhongtai Securities Co., Ltd. [2]

证券代码：301045 证券简称：天禄科技 公告编号：2025-074 苏州天禄光科技股份有限公司 关于控股股东、实际控制人及其一致行动人 权益变动触及 1%及 5%整数倍的提示性公告 公司控股股东、实际控制人梅坦先生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。 1、本次权益变动系控股股东、实际控制人之一梅坦先生履行此前披露的股 份减持计划所致，不触及要约收购。 2、本次权益变动后，梅坦先生及其一致行动人合计持有公司股份 49,643,234 股，占公司总股本比例为 44.99998%，持股比例触及 1%及 5%的整数倍。 3、本次权益变动不会导致公司控股股东及实际控制人发生变更，不会对公 司治理结构及持续经营产生重大影响。 一、本次权益变动基本情况 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： 公司于 2025 年 7 月 23 日披露了《关于控股股东、实际控制人之一减持股份 预披露公告》（公告编号：2025-042），公司控股股东、实际控制人之一梅坦先 生拟自减持公告披露之日起 15 个交易日后 3 个月 ...