证券代码：000877 证券简称：天山股份 公告编号：2025-038 第九届董事会第四次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、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 1、天山材料股份有限公司(简称"公司")于 2025 年 4 月 21 日 以书面、邮件的方式发出召开第九届董事会第四次会议的通知。 2、根据《公司章程》，经全体董事同意豁免会议通知时间要求， 公司第九届董事会第四次会议于 2025 年 4 月 25 日以现场结合视频 方式召开。 3、本次会议应出席董事 9 人，实际出席董事 9 人，董事赵新军、 薄克刚、于月华、范丽婷、张继武、沈军、陆正飞、孔伟平、李琛亲 自出席了会议。 4、会议主持人为董事长赵新军，公司监事和部分高级管理人员 列席了本次会议。 5、会议召开符合有关法律、行政法规、部门规章、规范性文件 和公司章程的规定。 天山材料股份有限公司 二、董事会会议审议情况 天山材料股份有限公司董事会 （一）审议通过了《关于对外投资（海外）的议案》 2025 年 4 月 28 日 本议案表决情况：9 票同意，0 票反对，0 票弃权。 具体内容 ...

Investment Strategy - The report emphasizes the strategic importance of Xinjiang in the context of national energy security and the Belt and Road Initiative, highlighting its transition from a geographical hinterland to a frontline hub [9][10] - The coal chemical industry in Xinjiang is poised for growth due to favorable external conditions, including rising coal prices and a shift towards resource-rich western regions [9][10] - The report suggests focusing on two main investment themes: coal chemical investments and state-owned enterprise reforms in Xinjiang [9][10] Xinjiang Index Situation - The Xinjiang index stands at 101.14, reflecting a week-on-week increase of 1.75%, while the coal chemical investment index is at 100.21, up 3.98% [16] - The top three performing companies this week include Fostda (603173.SH) with a 26.22% increase, followed by Sanwei Chemical (002469.SZ) at 21.83%, and Tianfu Energy (600509.SH) at 12.32% [16][17] Key Data Tracking - Key prices in Xinjiang include Q5000 mixed coal at 140 CNY/ton, Q5200 mixed coal at 225 CNY/ton, and urea at 1638 CNY/ton, with significant year-on-year production increases noted [21][29] - In March 2025, coal railway shipments from state-owned key coal mines reached 3.24 million tons, a year-on-year decrease of 16.9%, while raw coal production was 51.46 million tons, up 24.13% year-on-year [21][29] Key News and Company Announcements - The Ministry of Ecology and Environment has accepted the environmental impact assessment for the National Energy Group's 2 billion cubic meters per year coal-to-gas project, which will produce natural gas and several by-products [35][39] - Recent announcements from companies like Guanghui Energy indicate significant revenue declines, with a 40.72% drop in total revenue for 2024 compared to the previous year [38] Project Overview - The report outlines several key coal chemical projects in Xinjiang, including the National Energy Group's coal-to-gas project with an investment of 250 billion CNY and a production capacity of 40 billion cubic meters per year [41] - The total planned capacity for coal-to-gas, coal-to-oil, coal-to-olefins, and coal-to-methanol projects in Xinjiang is projected to reach 9,203 billion CNY in investments [41][43]

天山材料股份有限公司部分董事及高级管理人员发生变更的关注公告 天山材料股份有限公司（以下简称"公司"）委托联合资信评估股份有限公司（以下简称"联 合资信"）对公司主体及相关债项进行了信用评级。除评级委托关系外，联合资信、评级人员与公 司不存在任何影响评级行为独立、客观、公正的关联关系。 根据联合资信最近的评级结果，公司个体信用等级为 aaa，无外部支持调整项，主体长期信用等 级为 AAA，评级展望为稳定；公司委托联合资信评级的相关债项评级结果详见下表，评级有效期为 相关债项存续期。 表 1 截至本公告出具日公司委托联合资信进行信用评级的存续期内公开发行债券情况 | 债券代码 | 债券简称 | | 上次主体评级结果上次债项评级结果 上次评级时间 | | 债券余额 | 到期日 | | --- | --- | --- | --- | --- | --- | --- | | 148071.SZ | 22 天山 01 | AAA/稳定 | AAA/稳定 | 2025/01/09 | 20.00 亿元 | 2025/09/22 | | 148712.SZ | 24 天山 K1 | AAA/稳定 | AAA/稳定 | 20 ...

Group 1: Precious Metals - Gold - The short-term volatility of gold prices is expected to increase, while the medium to long-term outlook remains positive [2][6] - As of April 25, the COMEX gold futures contract decreased by 0.33% to $3,330.2 per ounce, and the SPDR Gold ETF fell by 0.6% to 946.27 tons [2][6] - Market expectations are being adjusted due to the fluctuating policies of Trump, which is likely to continue impacting gold prices [2][6] Group 2: Industrial Metals - Copper - As of April 25, the SHFE copper futures contract rose by 1.7% to 77,440 yuan per ton, with domestic copper social inventory at 181,700 tons, a decrease of 51,700 tons [3] - The market sentiment is recovering marginally, but remains relatively low due to uncertainties surrounding Trump's policies [3] - The demand for copper is expected to improve as domestic policies are implemented, with a tightening supply trend anticipated [3][6] Group 3: Industrial Metals - Aluminum - As of April 25, the SHFE aluminum futures contract increased by 1.7% to 20,030 yuan per ton, with domestic aluminum social inventory at 658,000 tons, down by 31,000 tons [4][5] - The traditional consumption peak season is approaching, leading to an increase in operating rates among downstream processing enterprises [5] - The aluminum price is expected to rise in the second quarter due to improved demand expectations from both domestic and overseas markets [5][6] Group 4: Investment Recommendations - The company suggests focusing on gold, copper, and aluminum sectors, with specific recommendations for Chifeng Gold, Zijin Mining, and Tianshan Shares [6]

其 他 报 告 2025年04月28日 晨会纪要 | 国内市场 | | 涨跌幅（%） | | | --- | --- | --- | --- | | 指数 | 收盘 | 1日 | 上周 | | 上证综合指数 | 3295 | -0.07 | 0.56 | | 深证成份指数 | 9917 | 0.39 | 1.38 | | 沪深300指数 | 3787 | 0.07 | 0.38 | | 创业板指数 | 1947 | 0.59 | 1.74 | | 上证国债指数 | 224 | 0.00 | 0.01 | | 上证基金指数 | 6776 | 0.19 | 0.71 | | | | 资料来源:同花顺iFinD | | | 海外市场 | | 涨跌幅（%） | | | --- | --- | --- | --- | | 指数 | 收盘 | 1日 | 上周 | | 中国香港恒生指数 | 21981 | 0.32 | 2.74 | | 中国香港国企指数 | 8081 | 0.29 | 2.32 | | 中国台湾加权指数 | 19873 | 2.02 | 2.46 | | 道琼斯指数 | 40114 | 0.05 | 2. ...

Core Insights - The article discusses the journey of a prominent trader known as "Chao Gu Yang Jia," detailing his evolution from initial losses to becoming a well-known figure in the A-share market, ultimately amassing a fortune of 1 billion yuan during the 2015 bull market [2][3][7]. Early Stage - In the early years from 2006 to 2008, the trader experienced initial success with a profit of 400,000 yuan during a bull market but faced significant losses during the 2008 bear market, reducing his capital from 900,000 yuan to below 400,000 yuan [3][6]. Learning and Exploration Phase - During the mid-phase, the trader engaged with various trading forums and sought mentorship from experienced traders to refine his short-term trading strategies, although he still faced challenges in execution [5][6]. Enlightenment and Success Phase - The trader experienced a breakthrough after studying influential trading philosophies, which led to a doubling of his capital and significant investments from his wife, ultimately resulting in a capital increase to 1 billion yuan during the 2015 bull market [7][12]. Trading Strategies - The trader employs several key strategies, including: - Quick entry and exit to capture short-term market fluctuations [16]. - Following market trends and focusing on strong stocks to maximize returns [17][18]. - Strict stop-loss measures to manage risk effectively [19]. - Rational capital management to diversify and mitigate risks [20]. - Maintaining a calm and stable mindset to make informed decisions [21]. Investment Philosophy - The trader emphasizes the importance of adapting strategies based on market conditions, such as buying strong stocks in bullish phases and seeking undervalued opportunities in bearish phases [24][26]. - He advocates for a disciplined approach to trading, including controlling drawdowns and being aware of market sentiment [28][30]. Recommendations for New Traders - New traders are advised to gain experience through market cycles, observe various sectors, and avoid over-reliance on technical indicators or predictions [35][36].

Group 1 - The core viewpoint of the article highlights the financial performance of Tianshan Materials Co., Ltd. in the first quarter of 2025, showing a significant decline in cement clinker sales but an increase in net profit compared to the same period last year [1][3]. - In Q1 2025, the company sold 37.7 million tons of cement clinker, 13.89 million cubic meters of ready-mixed concrete, and 20.46 million tons of aggregates, with a notable 15.38% decrease in cement clinker sales compared to the previous year [1]. - The company's revenue for Q1 2025 was 14.947 billion yuan, representing an 8.64% decrease year-on-year, while the net cash flow from operating activities fell by 56.39% [3]. Group 2 - Tianshan Materials reported a net profit of -1.494 billion yuan for Q1 2025, which is a 22.33% increase compared to the same period last year, marking the first instance of revenue decline coupled with profit increase in four years [3]. - The company’s main business includes the manufacturing and sales of cement, ready-mixed concrete, and aggregates, with cement revenue accounting for over 60% of total revenue [3]. - As of the end of the reporting period, Tianshan Materials had an aggregate production capacity of 230 million tons, with a production volume of 174 million tons and sales exceeding 130 million tons, generating approximately 4.756 billion yuan in sales revenue with a gross margin of 37.21% [3].

中信证券股份有限公司 关于天山材料股份有限公司 发行股份及支付现金购买资产并募集配套资金暨关联交易之 部分限售股解禁并上市流通的核查意见 中信证券股份有限公司（以下简称"中信证券"、"独立财务顾问"）作为天山 材料股份有限公司（曾用名"新疆天山水泥股份有限公司"，以下简称"天山股份"、 "上市公司"或"公司"）发行股份及支付现金购买资产并募集配套资金暨关联交易 项目（以下简称"本次重组"）的独立财务顾问，根据《上市公司重大资产重组管理 办法》《上市公司并购重组财务顾问业务管理办法》《深圳证券交易所股票上市规则》 等相关法律法规和规范性文件的要求，对天山股份本次交易购买资产发行部分限售股 解禁并上市流通事项进行了核查，具体核查情况如下： 一、本次解除限售股份的基本情况及公司股本变化 2021年9月9日，上市公司收到中国证券监督管理委员会下发的《关于核准新疆天 山水泥股份有限公司向中国建材股份有限公司等发行股份购买资产并募集配套资金的 批复》（证监许可[2021]2921号），核准公司向中国建材股份有限公司（以下简称 "中国建材"）发行6,841,280,667股股份、向农银金融资产投资有限公司发行 46,685 ...

中国国际金融股份有限公司 关于天山材料股份有限公司 发行股份及支付现金购买资产并募集配套资金暨关联交易之 部分限售股解禁并上市流通的核查意见 中国国际金融股份有限公司（以下简称"中金公司"、"独立财务顾问"）作为天山 材料股份有限公司（曾用名"新疆天山水泥股份有限公司"，以下简称"天山股份"、 "上市公司"或"公司"）发行股份及支付现金购买资产并募集配套资金暨关联交易项目 （以下简称"本次重组"）的独立财务顾问，根据《上市公司重大资产重组管理办法》 《上市公司并购重组财务顾问业务管理办法》《深圳证券交易所股票上市规则》等相 关法律法规和规范性文件的要求，对天山股份本次交易购买资产发行部分限售股解禁 并上市流通事项进行了核查，具体核查情况如下： 一、本次解除限售股份的基本情况及公司股本变化 2021年9月9日，上市公司收到中国证券监督管理委员会下发的《关于核准新疆天 山水泥股份有限公司向中国建材股份有限公司等发行股份购买资产并募集配套资金的 批复》（证监许可[2021]2921号），核准公司向中国建材股份有限公司（以下简称 "中国建材"）发行6,841,280,667股股份、向农银金融资产投资有限公司发行 46 ...

证券代码：000877 证券简称：天山股份 公告编号：2025-037 天山材料股份有限公司 关于发行股份及支付现金购买资产并募集配套资金暨关联交易 之部分限售股解禁并上市流通的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1、本次申请解除股份限售共涉及一名股东即中国建材股份有限 公司（简称"中国建材"）。 2、本次解除限售的股份数量为 5,288,349,547 股，占公司当前 总股本的 74.3739%，上市日期为 2021 年 11 月 2 日。 3、本次解除限售股份的上市流通日期为 2025 年 5 月 6 日（星 期二）。 一、本次解除限售股份的基本情况及公司股本变化情况 1、本次解除限售股份的基本情况 2021 年 9 月 9 日，天山材料股份有限公司（简称"本公司"、 "公司"或"天山股份"，曾用名"新疆天山水泥股份有限公司"） 收到中国证券监督管理委员会下发的《关于核准新疆天山水泥股份 有限公司向中国建材股份有限公司等发行股份购买资产并募集配套 资金的批复》（证监许可[2021]2921 号），核准公司向中国建材发 行 ...