Group 1 - Suzhou Tianmai's stock increased by 5.33%, reaching 145.88 CNY per share, with a trading volume of 1.04 billion CNY and a turnover rate of 1.39%, resulting in a total market capitalization of 16.875 billion CNY [1] - Suzhou Tianmai Thermal Technology Co., Ltd. specializes in the research, production, and sales of thermal management materials and components, with 98.37% of its revenue coming from thermal management materials and components [1] - The company was established on July 25, 2007, and went public on October 24, 2024 [1] Group 2 - Among the top ten holdings, one fund from China Europe Fund holds shares in Suzhou Tianmai, specifically the China Europe Selected Mixed A Fund, which held 182,400 shares, accounting for 2.31% of the fund's net value [2] - The China Europe Selected Mixed A Fund has a total scale of 988 million CNY and has achieved a return of 28.44% this year, ranking 3250 out of 8150 in its category [2] - The fund manager, Wang Jian, has a tenure of 16 years and 12 days, with the best fund return during his tenure being 200.87% [2]

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 experienced a decline of 3.55% in stock price on October 17, with a trading volume of 156 million yuan, indicating a significant net outflow in financing activities [1] Financing Summary - On October 17, Suzhou Tianmai had a financing buy-in amount of 18.16 million yuan and a financing repayment of 61.95 million yuan, resulting in a net financing outflow of 43.78 million yuan [1] - As of October 17, the total financing and securities lending balance for Suzhou Tianmai was 448 million yuan, which accounts for 14.61% of its market capitalization [1] Securities Lending Summary - On October 17, Suzhou Tianmai had no shares repaid in securities lending, with 400 shares sold, amounting to 47,100 yuan based on the closing price [1] - The remaining securities lending volume was 3,100 shares, with a total balance of 365,100 yuan [1] Company Overview - Suzhou Tianmai Thermal Technology Co., Ltd. was established on July 25, 2007, and is located in Suzhou, specializing in the research, production, and sales of thermal management materials and components [1] - The main business revenue composition includes thermal management materials and components at 98.37%, with other revenues at 1.63% [1] Financial Performance - For the period from January to June 2025, Suzhou Tianmai reported a revenue of 508 million yuan, reflecting a year-on-year growth of 11.20% [1] - The net profit attributable to the parent company was 94.45 million yuan, showing a year-on-year decrease of 2.14% [1] Shareholder Information - As of June 30, 2025, the number of shareholders for Suzhou Tianmai was 10,200, a decrease of 28.70% from the previous period [2] - The average circulating shares per person increased by 66.00% to 2,561 shares [2] Dividend Information - Suzhou Tianmai has cumulatively distributed dividends amounting to 64.78 million yuan since its A-share listing [2] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the third-largest circulating shareholder, holding 573,000 shares, an increase of 270,600 shares from the previous period [2] - The Southern CSI 1000 ETF (512100) entered the top ten circulating shareholders with a holding of 216,500 shares [2]

Core Viewpoint - Suzhou Tianmai experienced a decline of 3.58% in stock price on September 25, with a trading volume of 312 million yuan, indicating market volatility and investor sentiment towards the company [1]. Financing Summary - On September 25, Suzhou Tianmai had a financing buy-in amount of 59.9854 million yuan, with a net financing purchase of 24.9661 million yuan after repaying 35.0193 million yuan [1]. - The total financing and securities balance for Suzhou Tianmai reached 568 million yuan, accounting for 16.15% of its market capitalization [1]. - In terms of securities lending, the company had no shares repaid on September 25, with 100 shares sold, amounting to 13,500 yuan at the closing price, and a remaining securities lending balance of 36,480 yuan [1]. Business Performance - Suzhou Tianmai, established on July 25, 2007, specializes in the research, production, and sales of thermal management materials and components, with 98.37% of its revenue derived from this core business [1]. - For the first half of 2025, the company reported a revenue of 508 million yuan, reflecting a year-on-year growth of 11.20%, while the net profit attributable to shareholders decreased by 2.14% to 94.454 million yuan [1]. Shareholder Information - As of June 30, 2025, Suzhou Tianmai had 10,200 shareholders, a decrease of 28.70% from the previous period, with an average of 2,561 circulating shares per shareholder, an increase of 66.00% [1]. - The company has distributed a total of 64.7808 million yuan in dividends since its A-share listing [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 573,000 shares, an increase of 270,600 shares from the previous period, while Southern CSI 1000 ETF is a new entrant with 216,500 shares [2].

Core Viewpoint - Suzhou Tianmai (301626) is actively engaging with institutional investors and is focusing on expanding its production capabilities to meet the growing market demand for thermal management materials and components. Group 1: Company Overview - Suzhou Tianmai specializes in the research, development, production, and sales of thermal management materials and components [6] - The company currently has production bases in Suzhou, Shengzhou (Zhejiang), and Bắc Ninh (Vietnam), with plans to acquire 100 acres of land for a new intelligent manufacturing base in Suzhou [2] Group 2: Financial Performance - In Q1 2025, the company reported a main revenue of 250 million yuan, a year-on-year increase of 5.72%, while the net profit attributable to shareholders decreased by 3.67% to approximately 54.4 million yuan [6] - The company's gross profit margin stands at 44.19%, with a debt ratio of 9.92% [6] Group 3: Future Outlook - The company anticipates a revenue growth of approximately 10% for 2025 compared to 2024, although this projection is subject to various uncertainties including industry competition and market demand [5] - The company is currently in the sample testing phase for entering the North American supply chain, with uncertain outcomes [4] Group 4: Employee Incentives - Prior to its IPO, the company implemented an equity incentive plan for senior management and key employees, with future plans for additional incentives based on operational and financial performance [3]