2月9日，苏州天脉涨0.17%，成交额2.02亿元。两融数据显示，当日苏州天脉获融资买入额2814.30万 元，融资偿还2597.49万元，融资净买入216.81万元。截至2月9日，苏州天脉融资融券余额合计9.65亿 元。 机构持仓方面，截止2025年9月30日，苏州天脉十大流通股东中，香港中央结算有限公司位居第七大流 通股东，持股31.26万股，相比上期减少26.04万股。南方中证1000ETF（512100）退出十大流通股东之 列。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 责任编辑：小浪快报 资料显示，苏州天脉导热科技股份有限公司位于苏州市吴中区甪直镇汇凯路68号，成立日期2007年7月 25日，上市日期2024年10月24日，公司主营业务涉及导热散热材料及元器件的研发、生产及销售。主营 业务收入构成为：热管理材料及器件98.37%，其他1.63%。 截至9月30日，苏州天脉股东户数1.08万，较上期增加6.39%；人均流 ...

Core Viewpoint - Suzhou Tianmai's thermal management product manufacturing project has received preliminary approval for environmental assessment, with a total investment of 600 million yuan [1]. Group 1: Project Details - The environmental assessment approval for Suzhou Tianmai's thermal management product intelligent manufacturing base was disclosed by regulatory authorities on January 6, 2026 [1]. - The total investment for the project is 600 million yuan [1]. Group 2: Company Overview - Suzhou Tianmai is primarily engaged in the research, development, production, and sales of thermal management materials and components [3]. Group 3: Financial Performance - The company's market capitalization is 21.112 billion yuan [4]. - Projected operating revenue for 2023 is 943 million yuan, with a net profit attributable to the parent company of 1.498 billion yuan [4]. - The gross profit margin is expected to be 40.48% for 2023 [4].

Group 1 - The consumer electronics sector experienced a decline of 0.84% on January 28, with Suzhou Tianmai leading the drop [1] - The Shanghai Composite Index closed at 4151.24, up 0.27%, while the Shenzhen Component Index closed at 14342.9, up 0.09% [1] - Notable gainers in the consumer electronics sector included Tonglian Precision, which rose by 10.58% to a closing price of 57.69, and Kechuan Technology, which increased by 9.99% to 62.07 [1] Group 2 - Suzhou Tianmai saw a significant decline of 7.92%, closing at 179.53, with a trading volume of 32,000 shares and a turnover of 590 million [2] - Other notable decliners included Beilong Precision, down 5.28% to 50.28, and ST Boda, down 4.99% to 4.19 [2] - The consumer electronics sector experienced a net outflow of 3.729 billion in main funds, while retail investors saw a net inflow of 3.309 billion [2][3] Group 3 - Major inflows were observed in stocks like Gongfu Lian, which had a net inflow of 309 million, and Yidong Electronics with a net inflow of 207 million [3] - Conversely, stocks like Xiechuang Data and Feirongda experienced significant net outflows of 109 million and 40.47 million, respectively [3] - The overall market sentiment indicated a mixed response, with retail investors showing a preference for certain stocks despite the overall sector decline [3]

Core Viewpoint - Suzhou Tianmai (301626) has clarified its main product categories and applications in response to investor inquiries, highlighting its focus on thermal management solutions [1] Product Categories - The company’s primary products are divided into three major categories: heat dissipation devices, thermal materials, and thermal modules [1] - Key products include temperature equalization plates, thermal interface materials, heat pipes, thermal modules, and graphite thermal films [1] Application Scenarios - The temperature equalization plates are primarily used in various fields such as smartphones, laptops, communication servers, automotive electronics, communication base stations, projectors, and drones [1]

Core Viewpoint - Suzhou Tianmai (301626.SZ) has categorized its main products into three major categories: heat dissipation devices, thermal materials, and heat dissipation modules [1] Product Categories - The core products include temperature equalization plates, thermal interface materials, heat pipes, heat dissipation modules, and graphite heat dissipation films [1] - The temperature equalization plates are primarily used in various applications such as smartphones, laptops, communication servers, automotive electronics, communication base stations, projectors, and drones [1]

格隆汇1月14日丨苏州天脉(301626.SZ)在投资者互动平台表示，公司目前与北美大客户合作稳定，新产 品导入测试和协作进展良好，每个验证周期节点均按期完成，目前已进入量产化前验证的后期阶段。 ...

Core Viewpoint - Suzhou Tianmai's operating performance and gross margin have improved due to the revenue growth and margin increase of its core product, the uniform temperature plate, despite a decline in overseas revenue caused by specific customer demand adjustments [1][2]. Group 1: Operating Performance and Gross Margin - Suzhou Tianmai's main business revenue for the reporting period was 828.96 million yuan, 914.86 million yuan, 932.77 million yuan, and 806.86 million yuan, with net profits of 116.70 million yuan, 154.19 million yuan, 185.43 million yuan, and 142.57 million yuan respectively [2]. - The comprehensive gross margins were 29.32%, 32.86%, 40.48%, and 39.55% during the same periods [2]. - The uniform temperature plate, as the core product, accounted for 46.55%, 63.38%, 66.47%, and 65.35% of revenue, with its gross margin significantly increasing from 17.35% in 2022 to 38.56% in 2024 [2]. Group 2: Overseas Revenue and Market Dynamics - The proportion of overseas revenue decreased from 39.46% to 30.90%, primarily due to reduced procurement from key customer Samsung and its component suppliers [3]. - The gross margin for overseas sales is slightly higher than domestic sales, attributed to the application of products in mid-to-high-end models and favorable exchange rates [3]. - The company has implemented measures to mitigate exchange rate risks, with an estimated impact of ±3% fluctuation in USD/CNY exchange rate affecting total profit by approximately 5.28% [3]. Group 3: Product Demand and Inventory Management - Demand for heat pipes has declined due to technological iteration, with sales revenue dropping from 155.42 million yuan in 2022 to 1.72 million yuan in the first nine months of 2025 [4]. - Conversely, revenue from cooling modules has increased, reaching 70.79 million yuan in the first nine months of 2025, driven by higher penetration in laptops and automotive electronics [4]. - As of September 2025, inventory balance was 211.46 million yuan, a 28.12% increase year-on-year, primarily due to increased orders, with 89.05% of inventory aged less than one year [4]. Group 4: Fundraising and Investment Projects - The company plans to raise 786 million yuan for high-end uniform temperature plate capacity construction, adding an annual production capacity of 30 million pieces [5]. - The project is expected to have a post-tax internal rate of return of 16.76% and a payback period of 4.39 years, which is below the industry average [5]. - The existing capacity utilization rate for uniform temperature plates remains above 80%, with a projected global market growth rate of 14.21% annually from 2024 to 2032 [5]. Group 5: Compliance and Financial Health - As of September 2025, the company’s trading financial assets amounted to 355.49 million yuan, all in structured deposits, complying with regulatory requirements [7]. - The verification of overseas revenue shows a customer confirmation response rate of 91.66%, with a minimal discrepancy from customs export data [7]. - The company maintains a low debt ratio of 12.37% and has sufficient cash and financial assets to cover bond principal and interest payments [5][7].

国泰海通证券股份有限公司 关于 苏州天脉导热科技股份有限公司 创业板向不特定对象发行可转换公司债券 国泰海通证券股份有限公司 关于苏州天脉导热科技股份有限公司 之 发行保荐书 保荐人（主承销商） 中国（上海）自由贸易试验区商城路 618 号 二〇二六年一月 苏州天脉导热科技股份有限公司 发行保荐书 创业板向不特定对象发行可转换公司债券之发行保荐书 国泰海通证券股份有限公司（以下简称"保荐人"或"国泰海通"）接受 苏州天脉导热科技股份有限公司（以下简称"发行人"或"公司"或"苏州天 脉"）的委托，担任苏州天脉本次向不特定对象发行可转换公司债券（以下简 称"本项目"）的保荐人，孟庆虎、张晓伟作为具体负责推荐的保荐代表人， 特此向深圳证券交易所（以下简称"深交所"）出具本项目发行保荐书。 保荐人及指定的保荐代表人根据《中华人民共和国公司法》《中华人民共 和国证券法》等有关法律、法规和中国证券监督管理委员会、深交所的有关规 定，诚实守信，勤勉尽责，严格按照依法制订的业务规则、行业执业规范和道 德准则出具发行保荐书，并保证所出具文件的真实性、准确性和完整性。 本发行保荐书如无特别说明，相关用语具有与《苏州天脉导热科技股 ...

证券代码：301626 证券简称：苏州天脉 公告编号：2026-002 苏州天脉导热科技股份有限公司 关于申请向不特定对象发行可转换公司债券的审核问询函 特此公告。 苏州天脉导热科技股份有限公司 董事会 2026 年 1 月 12 日 回复及申请文件更新的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 苏州天脉导热科技股份有限公司（以下简称"公司"）于 2025 年 12 月 28 日收到深圳证券交易所出具的《关于苏州天脉导热科技股份有限公司申请向不特 定对象发行可转换公司债券的审核问询函》（审核函[2025]020084 号）（以下 简称"审核问询函"），深圳证券交易所上市审核机构对公司向不特定对象发行 可转换公司债券的申请文件进行了审核，并形成审核问询问题。 公司按照审核问询函的要求，会同相关中介机构对审核问询函所列的问题进 行了认真研究和逐项回复，并对相关申请文件进行了相应的补充和修订。现根据 要求对审核问询函回复予以披露，具体回复内容详见公司于同日在巨潮资讯网披 露的相关公告。公司将在审核问询函的回复报告和更新后的申请文件披露后，通 过深圳 ...

国浩律师（深圳）事务所 关于 苏州天脉导热科技股份有限公司 创业板向不特定对象发行可转换公司债券 之 补充法律意见书（一） 深圳市深南大道 6008 号特区报业大厦 24、31、41、42 楼 邮编：518034 24/F、31/F、41/F、42/F, Tequbaoye Building, 6008 Shennan Avenue, Shenzhen, Guangdong Province 518034, China 电话/Tel: (+86)(755) 8351 5666 传真/Fax: (+86)(755) 8351 5333 网址/Website: http://www.grandall.com.cn 二〇二六年一月 | 第一节 声明事项 | 4 | | --- | --- | | 第二节 正文 | 5 | | 第一部分 | 《问询函》回复 5 | | 一、《问询函》问题 | 1 5 | | 二、《问询函》问题 | 2 15 | | 第三节 签署页 | 21 | 国浩律师（深圳）事务所 补充法律意见书（一） 国浩律师（深圳）事务所 关于苏州天脉导热科技股份有限公司 创业板向不特定对象发行可转换公司债券 ...