Core Viewpoint - Suzhou Tianmai, a leading company in the thermal management materials sector, is set to be listed on the Shenzhen Stock Exchange on October 24, 2024, showcasing its significant technological advantages in the industry [1] Group 1: Business Performance - In Q3 2025, Suzhou Tianmai reported revenue of 818 million yuan, ranking 63rd among 88 companies in the industry, with the top company, Industrial Fulian, generating 603.93 billion yuan [2] - The main business revenue from thermal management materials and devices was 928 million yuan, accounting for 98.37% of total revenue, while other business revenue was 15.36 million yuan, making up 1.63% [2] - The net profit for the same period was 143 million yuan, placing the company 31st in the industry, with the leading company achieving a net profit of 22.52 billion yuan [2] Group 2: Financial Health - As of Q3 2025, Suzhou Tianmai's debt-to-asset ratio was 12.37%, down from 17.49% year-on-year, significantly lower than the industry average of 44.84%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 39.55%, slightly down from 40.53% year-on-year, but still well above the industry average of 19.47%, reflecting robust profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 6.39% to 10,800, with an average holding of 2,407.55 shares, a decrease of 6.00% [5] - The largest circulating shareholder, Hong Kong Central Clearing Limited, held 312,600 shares, a reduction of 260,400 shares from the previous period [5] Group 4: Management and Compensation - Chairman Xie Yi's compensation increased from 1.1424 million yuan in 2023 to 1.6864 million yuan in 2024, an increase of 544,000 yuan [4] - Xie Yi, born in August 1984, has been the chairman and general manager since January 2018 and was previously awarded the title of Young Technology Entrepreneur by Dongwu [4] Group 5: Future Outlook - The company maintains a "buy" rating with a target price of 185.7 yuan, expecting EPS growth of 62.0%, 138.4%, and 59.1% for 2025-2027 [5] - Key growth drivers include performance targets for stock incentives, advancements in steel-copper composite VC technology, and increasing market penetration in both high-end and mid-range Android devices [5]

Group 1 - Suzhou Tianmai experienced a 5% decline in stock price, trading at 132.52 CNY per share with a total market capitalization of 15.33 billion CNY as of the report date [1] - The company specializes in the research, production, and sales of thermal management materials and components, with 98.37% of its revenue coming from this core business [1] - The company was established on July 25, 2007, and went public on October 24, 2024 [1] Group 2 - Vanguard Fund holds a significant position in Suzhou Tianmai, with its Vanguard Quantitative Selected A fund reducing its holdings by 8,400 shares, now holding 10,000 shares, representing 3.24% of the fund's net value [2] - The Vanguard Quantitative Selected A fund has a total size of 38.25 million CNY and has achieved a year-to-date return of 23.06% [2] - The fund manager, Zeng Jie, has been in position for 2 years and 308 days, with the best fund return during this period being 68.52% [2]

Core Viewpoint - Suzhou Tianmai (301626.SZ) plans to issue convertible bonds to raise up to 786 million yuan for the construction of its intelligent manufacturing base for thermal conductive products [1][2][3] Group 1: Convertible Bond Issuance - The total amount to be raised from the issuance of convertible bonds is expected to be no more than 786 million yuan, which will be used for the construction of the Suzhou Tianmai intelligent manufacturing base [1][2] - The bonds will have a term of six years from the date of issuance, with interest paid annually and principal returned at maturity [2][3] - The bonds will be offered to a wide range of investors, including individuals and institutions, with priority given to existing shareholders [3] Group 2: Financial Performance - For the first three quarters of 2025, Suzhou Tianmai reported revenue of 818.44 million yuan, an increase of 18.42% year-on-year, and a net profit attributable to shareholders of 142.57 million yuan, up 1.54% [4][5] - The company’s net cash flow from operating activities was 129.11 million yuan, a decrease of 27.45% compared to the previous year [4][5] - In 2024, the company achieved revenue of 942.91 million yuan, a growth of 1.62%, and a net profit of 185.43 million yuan, reflecting a 20.26% increase year-on-year [6]

Core Points - Suzhou Tianmai's stock price decreased by 0.95% on October 28, with a trading volume of 506 million yuan [1] - The company recorded a net financing purchase of 17.16 million yuan on the same day, with a total financing balance of 629 million yuan, accounting for 8.50% of its market capitalization [1] - For the period from January to September 2025, Suzhou Tianmai achieved a revenue of 818 million yuan, representing a year-on-year growth of 18.42%, and a net profit attributable to shareholders of 143 million yuan, with a growth of 1.54% [1] Financing and Margin Trading - On October 28, Suzhou Tianmai had a financing purchase of 92.60 million yuan and a repayment of 75.44 million yuan [1] - The company had a margin trading balance of 30.93 thousand yuan with a remaining short selling volume of 2,200 shares [1] Shareholder Information - As of September 30, 2025, the number of shareholders for Suzhou Tianmai increased by 6.39% to 10,800, while the average circulating shares per person decreased by 6.00% to 2,407 shares [1] - The company has distributed a total of 64.78 million yuan in dividends since its A-share listing [2] - Hong Kong Central Clearing Limited is the seventh largest circulating shareholder, holding 312,600 shares, a decrease of 260,400 shares from the previous period [2]

登录新浪财经APP 搜索【信披】查看更多考评等级 苏州天脉导热科技股份有限公司（证券简称：苏州天脉，证券代码：301626）10月28日发布公告称，公 司因拟向不特定对象发行可转换公司债券，对最近五年合规情况进行自查，结果显示期间未受到证券监 管部门和证券交易所的处罚或监管措施。 点击查看公告原文>> 声明：市场有风险，投资需谨慎。 本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 责任编辑：小浪快报 公告披露，公司自成立以来严格遵守《中华人民共和国公司法》《中华人民共和国证券法》《深圳证券 交易所创业板股票上市规则》等法律法规及公司章程要求，通过持续完善治理结构、健全内部控制体系 规范运营，保障公司持续稳定健康发展。根据本次可转债发行相关监管要求，公司对近五年合规情况开 展专项 ...

证券代码：301626 证券简称：苏州天脉 公告编号：2025-050 苏州天脉导热科技股份有限公司 第三届董事会第十四次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，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 苏州天脉导热科技股份有限公司（以下简称"公司"）第三届董事会第十四 次会议于 2025 年 10 月 27 日在公司会议室以现场和通讯相结合的方式召开。会 议通知于 2025 年 10 月 22 日以电子邮件等方式发出。本次会议应出席董事 7 人， 实际出席董事 7 人（其中部分董事通过通讯方式参加会议），会议由董事长谢毅 先生主持。本次会议的召集、召开程序符合相关法律、行政法规、部门规章、规 范性文件和《苏州天脉导热科技股份有限公司章程》（以下简称"《公司章程》"） 的规定。 二、董事会审议情况 经与会董事认真审议，形成了如下决议： 1、审议通过《关于公司符合向不特定对象发行可转换公司债券条件的议案》 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》"）、《上市公司证券发行注册管理办 法》（以下简称 ...

证券代码：301626 证券简称：苏州天脉 苏州天脉导热科技股份有限公司 向不特定对象发行可转换公司债券 论证分析报告 一、本次发行证券选择的品种 本次发行证券的种类为可转换为公司 A 股股票的可转换公司债券。该可转 债及未来转换的 A 股股票将在深圳证券交易所创业板上市。 二、本次发行实施的必要性 二〇二五年十月 第一节 本次发行证券及其品种选择的必要性 苏州天脉导热科技股份有限公司（以下简称"公司"）结合自身情况，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》"）、《上市公司证券发行注册管理办法》（以下简称"《注 册管理办法》"）等相关法律、法规和规范性文件的规定，拟通过向不特定对象发 行可转换公司债券（以下简称"可转债"）的方式募集资金。 本次向不特定对象发行可转换公司债券募集资金投资项目均经过公司谨慎 论证，符合国家相关的产业政策以及公司战略发展方向，项目的实施有利于进一 步提升公司的核心竞争力，增强公司的可持续发展能力，符合公司和全体股东的 利益，具备可行性及必要性。具体分析详见公司同日公告的《苏州天脉导热科技 股份有限公司关于向不特定对象 ...

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 10 月 27 日召开第三届董事会第十四次会议，审议通过了公司向不特定对象发行可转换公 司债券的相关议案。《苏州天脉导热科技股份有限公司向不特定对象发行可转换 公 司 债 券 预 案 》 及 相 关 文 件 已 在 指 定 信 息 披 露 媒 体 及 巨 潮 资 讯 网 （www.cninfo.com.cn）上披露，敬请投资者注意查阅。 公司本次向不特定对象发行可转换公司债券预案的披露事项不代表审批机 关对于本次发行相关事项的实质性判断、确认、批准或核准，预案所述公司本次 向不特定对象发行可转换公司债券相关事项的生效和完成尚待公司股东会审议、 深圳证券交易所发行上市审核并报经中国证监会注册后方可实施，且最终以中国 证监会注册的方案为准。敬请投资者注意投资风险。 特此公告。 苏州天脉导热科技股份有限公司 证券代码：301626 证券简称：苏州天脉 公告编号：2025-045 苏州天脉导热科技股份有限公司 关于向不特定对象发行可转换公司债券预案披露的 ...

证券代码：301626 证券简称：苏州天脉 苏州天脉导热科技股份有限公司 向不特定对象发行可转换公司债券预案 一、本公司及董事会全体成员保证公告内容真实、准确、完整，并确认不存 在虚假记载、误导性陈述或重大遗漏，并对本预案内容的真实性、准确性、完整 性承担个别和连带的法律责任。 二〇二五年十月 二、本次向不特定对象发行可转换公司债券完成后，公司经营与收益的变化 由公司自行负责；因本次向不特定对象发行可转换公司债券引致的投资风险由投 资者自行负责。 三、本预案是公司董事会对本次向不特定对象发行可转换公司债券的说明， 任何与之相反的声明均属不实陈述。 苏州天脉导热科技股份有限公司 向不特定对象发行可转换公司债券预案 四、投资者如有任何疑问，应咨询自己的经纪人、律师、专业会计师或其他 专业顾问。 发行人声明 六、本预案中如有涉及投资效益或业绩预测等内容，均不构成公司对任何投 资者或相关人士的承诺，投资者及相关人士应当理解计划、预测或承诺之间的差 异，并注意投资风险。 1 | （一）本次发行证券的类型 5 | | --- | | （二）发行规模 5 | | （三）票面金额和发行价格 5 | | （四）债券期限 5 | ...

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 变更部分募投项目实施地点的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通证券"或"保荐人"）作 为苏州天脉导热科技股份有限公司（以下简称"苏州天脉"或"公司"）的持续 督导保荐机构，根据《证券发行上市保荐业务管理办法》《深圳证券交易所创业 板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上 市公司规范运作》等有关法律法规和规范性文件的要求，对苏州天脉变更部分募 投项目实施地点的事项进行了核查，具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意苏州天脉导热科技股份有限公司首次 公开发行股票注册的批复》（证监许可[2024]479 号）同意注册，公司首次公开发 行人民币普通股（A 股）2,892.00 万股，每股面值为人民币 1.00 元，发行价格为 人民币 21.23 元/股。本次募集资金总额为人民币 61,397.16 万元，扣除发行费用 人民币 6,904.54 万元（不含增值税）后，公司本次实际募集资金净额为人民币 54,492.62 万元。 上述募集资金已于 2024 年 10 月 21 日 ...