本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 会议延期后的召开时间：2025年11月25日 一、原股东会有关情况 1.原股东会的类型和届次 2025年第二次临时股东会 2.原股东会召开日期：2025年10月9日 3.原股东会股权登记日 ■ 二、股东会延期原因 网络投票的起止时间：自2025年11月25日 至2025年11月25日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股东会召开当日的交易时间 段，即9:15-9:25，9:30-11:30，13:00-15:00；通过互联网投票平台的投票时间为股东会召开当日的9:15- 15:00。 因统筹相关工作安排，经天津银龙预应力材料股份有限公司（以下简称"公司"）审慎研究，决定将2025 年第二次临时股东会延期至2025年11月25日15点召开，原股权登记日不变。 本次临时股东会的延期符合《上市公司股东会规则》和《上海证券交易所股票上市规则》等相关法律法 规和《天津银龙预应力材料股份有限公司章程》的规定。 三、延期后股东会的有关情况 1. ...

Group 1 - The law firm Beijing Zhonglun (Guangzhou) has been commissioned by Tianjin Yinlong Prestressed Materials Co., Ltd. to provide legal opinions for the company's 2025 first extraordinary general meeting of shareholders [1][2] - The legal opinions focus on the legality of the meeting's convening, procedures, attendance, and voting results, ensuring compliance with relevant laws and regulations [3][22] - The meeting was convened by the fifth board of directors, with a notice published on August 20, 2025, meeting the legal requirements for notification [4][5] Group 2 - A total of 15 shareholders attended the meeting in person, representing 21,388,259 shares, which is 2.4947% of the total voting shares [5][6] - The meeting was held on September 5, 2025, and was presided over by the financial director due to the chairman's absence [5][8] - The network voting involved 251 shareholders, representing 328,445,525 shares, which is 38.3097% of the total voting shares [6][8] Group 3 - The voting results for the proposals included significant support, with the proposal to change the company's registered capital receiving 99.9224% approval [9][11] - Other proposals, such as the cancellation of the supervisory board and amendments to the articles of association, also received over 99% approval [11][12] - All proposals were passed as special resolutions, meeting the requirement of two-thirds majority [9][12][22]

Core Viewpoint - The company reported a strong performance in H1 2025, with significant revenue and profit growth, driven by favorable market conditions and strategic positioning in key infrastructure sectors [1][2][3]. Group 1: Financial Performance - In H1 2025, the company achieved operating revenue of 1.473 billion yuan, representing a year-on-year increase of 8.85% [1]. - The net profit attributable to shareholders reached 172 million yuan, marking a substantial year-on-year growth of 70.98% [1]. - The company's prestressed materials generated revenue of 158 million yuan, accounting for 78.58% of total revenue, with a net profit of 130 million yuan, up 67.05% year-on-year [3]. Group 2: Market Conditions - The overall market sentiment is positive, with key engineering projects accelerating, particularly in bridge, railway, and water conservancy sectors [2]. - In H1 2025, a total of 220.7 kilometers of new urban rail transit lines were added, with six new operational lines and eleven new or extended segments [2]. - The National Development and Reform Commission announced that the water conservancy market is expected to reach 5 trillion yuan over the next five years, indicating a golden development period for the industry [2]. Group 3: Product and Industry Positioning - The company is a leading player in the prestressed steel wire market, with increasing penetration of ultra-high-strength products and a robust order book in rail plate production [3]. - The company has successfully applied its products in major projects such as the Pearl River Delta water resource allocation and the Yangtze River diversion project, showcasing its technical advantages in high-pressure and corrosion-resistant materials [2]. - The company is expected to benefit significantly from the upcoming construction of the Yajiang Hydropower Station, a national key project that will drive demand for its products [2]. Group 4: Future Outlook - The company forecasts revenues of 380 million yuan and 560 million yuan for 2025 and 2026, respectively, with corresponding price-to-earnings ratios of 23 and 15 [4].

Core Viewpoint - The article highlights the recent establishment of a specialized pharmaceutical industry fund by East China Pharmaceutical, emphasizing its strategic alignment with the company's innovation-driven growth and the strengthening of the biopharmaceutical ecosystem in Hangzhou [6][7][10]. Group 1: Company Overview - East China Pharmaceutical is a large pharmaceutical enterprise headquartered in Hangzhou, with business segments including pharmaceutical manufacturing, distribution, medical aesthetics, and industrial microbiology [7]. - The company reported a revenue of 21.675 billion yuan for the first half of 2025, representing a year-on-year growth of 3.39%, and a net profit of 1.815 billion yuan, up 7.01% year-on-year [7]. - The company has significantly increased its investment in innovative drug research and development, with innovative drug revenue growing by 59% year-on-year to 1.084 billion yuan in the first half of 2025 [7]. Group 2: Fund Establishment - On August 19, East China Pharmaceutical announced the establishment of a specialized pharmaceutical industry fund, the Hangzhou Fuguang Hongze Equity Investment Partnership, with a total scale of 2 billion yuan, where East China Pharmaceutical contributed 980 million yuan, accounting for 49% [6][10]. - The fund aims to invest in innovative drugs, medical aesthetics, health, and animal protection, aligning with the strategic development and industrial chain layout of East China Pharmaceutical [11]. - The establishment of the fund reflects the company's long-term strategy to consolidate its leading position in the industry through capital involvement and to reduce the upfront costs and risks associated with innovative projects [7][11]. Group 3: Regional Industry Context - The pharmaceutical industry in Hangzhou's Gongshu District has a strong industrial foundation, with significant investments in high-tech industries growing by 49% year-on-year from January to May 2025 [8]. - The district hosts major pharmaceutical companies, including top 10 Chinese pharmaceutical distribution companies and global leaders like AstraZeneca, contributing to a robust industrial ecosystem [8]. - The establishment of the fund aligns with the broader strategy of the "Yuan Da System," which emphasizes capital deployment in the pharmaceutical sector [8].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% within the next six months [6]. Core Insights - The company achieved a revenue of 1.473 billion yuan in H1 2025, representing a year-on-year increase of 8.85%, and a net profit attributable to shareholders of 172 million yuan, up 70.98% year-on-year, marking a historical high in profit scale [1]. - The growth in the pre-stressed materials segment is attributed to sales expansion, product structure optimization, and deepening in traditional markets [2]. - The concrete products for rail transit segment saw a significant gross margin of 49.56%, up 22.09 percentage points year-on-year, driven by major high-speed rail projects [3]. - The company is exploring the robot tendon business, leveraging its existing technology in pre-stressed materials, and conducting market research in emerging fields [4]. Financial Summary - For 2025, the company is projected to achieve a net profit of 347 million yuan, with corresponding P/E ratios of 24.80X, 19.49X, and 16.37X for the years 2025, 2026, and 2027 respectively [5]. - Revenue is expected to grow from 3.699 billion yuan in 2025 to 4.886 billion yuan in 2027, with a compound annual growth rate of 21.13% [5]. - The net profit margin is projected to increase from 9.4% in 2024 to 10.8% in 2027, indicating improving profitability [5].

Core Viewpoint - Silver Dragon Co., Ltd. reported significant growth in revenue and profit for the first half of 2025, driven primarily by its prestressed materials and rail transit concrete products [1][2] Group 1: Financial Performance - The company achieved operating revenue of 1.473 billion yuan, a year-on-year increase of 8.85% [1] - The net profit attributable to shareholders reached 171.7 million yuan, up 70.98% year-on-year [1] - The net profit after deducting non-recurring items was 172.2 million yuan, reflecting a growth of 71.52% compared to the previous year [1] - Basic earnings per share were reported at 0.20 yuan [1] Group 2: Core Business Performance - The prestressed materials segment generated operating revenue of 1.158 billion yuan, accounting for 78.58% of total revenue, with a net profit of 130 million yuan, an increase of 67.05% year-on-year [3] - The rail transit concrete products segment achieved operating revenue of 213 million yuan, representing 14.45% of total revenue, with a net profit of 43 million yuan, up 76.69% year-on-year [4] - The growth in both segments was attributed to increased sales volumes and the introduction of high-performance products [2][3][4] Group 3: Strategic Initiatives - The company is focusing on dual main business strategies, emphasizing the prestressed materials and rail transit concrete products while expanding into the renewable energy sector [1][5] - In the renewable energy sector, sales of prestressed materials increased by 59.72% year-on-year, driven by applications in wind power and solar energy projects [5] - The company is also investing in quality project development and partnerships, including a 150MW wind power project that has been approved and is under construction [5]

Group 1 - The company is revising its articles of association, changing "shareholders' meeting" to "shareholders' assembly" and making necessary adjustments to the numbering of clauses [1][2] - The revised articles of association require approval from the shareholders' assembly and authorization for the general manager's office to handle business registration changes [1][2] Group 2 - The company will hold its first extraordinary shareholders' meeting of 2025 on September 5, 2025, with both on-site and online voting options available [4][5] - The meeting will discuss several key proposals, including changes to the company's registered capital and the cancellation of the supervisory board [33][36] Group 3 - The company reported a total asset of 4.366 billion yuan and a total liability of 1.717 billion yuan, resulting in a debt-to-asset ratio of 39.33% [40] - The company achieved a revenue of 1.473 billion yuan, representing a year-on-year increase of 8.85%, and a net profit of 172 million yuan, up 70.98% year-on-year [40] Group 4 - The company plans to enhance its governance structure by revising several internal regulations in accordance with the latest legal requirements [2][31] - The company emphasizes shareholder value maximization and has distributed cash dividends amounting to 68.59 million yuan, representing 36.48% of the net profit attributable to shareholders [41][42]

Summary of Key Points Core Viewpoint - Tianjin Yinlong Prestressed Materials Co., Ltd. is participating in the establishment of a private equity investment fund to capitalize on opportunities in the renewable energy sector, while maintaining its core business focus on prestressed materials and concrete products for rail transit [2][43]. Group 1: Investment Overview - The investment target is the Tianjin Zhongyuan Botong New Energy Venture Capital Fund Partnership (Limited Partnership), with a total fund amount of 96 million RMB, of which Tianjin Yinlong will contribute 81.504 million RMB as a limited partner [2][4]. - The investment does not constitute a related party transaction or a major asset restructuring as defined by relevant regulations [2][6]. Group 2: Fund Structure and Management - The fund will be managed by Botong (Tianjin) Venture Capital Co., Ltd., which serves as the general partner and fund manager [8][15]. - The fund aims to invest primarily in the renewable energy and energy storage sectors, focusing on projects with innovative technologies and high growth potential [4][26]. Group 3: Decision-Making and Governance - The investment decision-making will be conducted by an investment decision committee composed of five members, ensuring a collaborative approach to investment decisions [30][29]. - The fund's operational and investment management will adhere to the regulations set forth by the China Securities Investment Fund Industry Association [15][26]. Group 4: Financial Implications - The investment is expected to enhance the company's competitive capabilities and support its sustainable growth without adversely affecting its financial status [43]. - The fund's establishment will utilize the company's own funds, ensuring no negative impact on the company's financial and operational conditions [43].

Core Viewpoint - The company, Tianjin Yinlong Prestressed Materials Co., Ltd., is participating in the establishment of a private equity investment fund, aiming to enhance its strategic development and industry synergy in the renewable energy sector [1][2][16]. Group 1: Investment Overview - The investment target is the Tianjin Zhongyuan Botong New Energy Venture Capital Fund Partnership (Limited Partnership), with a total investment amount of 96 million yuan, of which the company will contribute 81.504 million yuan [1][2]. - The investment does not constitute a related party transaction or a major asset restructuring as defined by relevant regulations [1][2]. Group 2: Investment Decision and Approval - The investment decision falls within the approval authority of the company's general manager and does not require board or shareholder approval [2][16]. - The fund will primarily invest in projects related to the renewable energy industry and energy storage [2][16]. Group 3: Fund Structure and Management - The fund will have a general partner, Botong (Tianjin) Venture Capital Co., Ltd., and limited partners including the company and Beijing Honghui International Energy Technology Development Co., Ltd. [2][3]. - The fund's duration is set for six years, with a four-year investment period followed by an exit period [4][7]. Group 4: Financial Implications - The investment is expected to leverage the management and resource advantages of the fund manager to enhance the company's competitive capabilities without adversely affecting its financial status [16][17]. - The company will use its own funds for this investment, ensuring no negative impact on its financial and operational conditions [16][17]. Group 5: Risk Analysis - The investment is characterized by a long investment cycle and low liquidity, subject to various risks including macroeconomic factors and management of the investment targets [16][17]. - The fund is still in the establishment phase and requires registration and approval from the China Securities Investment Fund Industry Association before commencing operations [16][17].

Core Viewpoint - Tianjin Yinlong Prestressed Materials Co., Ltd. announced a cash dividend of 0.08 RMB per share, totaling 68,587,520 RMB, following the approval of the profit distribution plan at the 2024 annual shareholders' meeting on May 15, 2025 [1][5]. Distribution Plan - The cash dividend will be distributed to all shareholders registered with China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the close of trading on July 11, 2025 [1][2]. - The total number of shares for the distribution is adjusted from 850,814,000 to 857,344,000 shares due to the company's restricted stock incentive plan [1]. Relevant Dates - The key dates for the dividend distribution are as follows: - Share registration date: July 11, 2025 - Last trading date: July 14, 2025 - Ex-dividend date: July 14, 2025 [2]. Implementation Method - Cash dividends for unrestricted circulating shares will be distributed through the clearing system of China Securities Depository and Clearing Corporation Limited, Shanghai Branch [2]. - Shareholders who have not completed designated transactions will have their dividends held by the clearing company until the transactions are completed [2]. Taxation Policies - For individual shareholders holding unrestricted circulating shares for over one year, the cash dividend is exempt from personal income tax, resulting in an actual distribution of 0.08 RMB per share [3]. - For shares held for less than one year, the tax will be calculated based on the holding period, with specific rates applied [3][4]. - For QFII shareholders, the company will withhold taxes according to relevant regulations, with a net distribution of 0.072 RMB per share after a 10% tax deduction [4]. Contact Information - For inquiries regarding the dividend distribution, shareholders can contact the board office at 022-26983538 [5].