△图片来源：天马科技2025年半年度报告 天马科技财报数据显示，经过2025年上半年的采购加码，其日本鳗和美洲鳗投苗量和存池量均位居全球第一。但产能疯狂扩张的背面，是37亿的短债缺口 （包含27亿的短期借款以及10亿的"一年内到期的非流动负债"）和远超行业水平的资产负债率。 就鳗鱼的特性看，大肆囤苗的行为本身不算冒进，但具体到天马科技的业务结构、现金流和负债情况，就让此举多了些不确定的意味。 坐上全球鳗鱼存池量的头把交椅，代价是什么？ 对于天马科技而言，答案或许就写在那张高达27亿元的短期借款表上。 | 项目 | 附注 | 2025年6月30日 | 2024年12月31日 | | --- | --- | --- | --- | | 流动负债: | | | | | 短期借款 | 七、32 | 2.698.310.965.19 | 2.211.423.714.59 | | 向中央银行借款 | | | | | 拆入资金 | | | | | 交易性金融负债 | | | | | 衍生金融负债 | 七、34 | 58,340.00 | | | 应付票据 | 七、35 | 829,746,640.49 | 746,887, ...

格隆汇11月24日丨三木集团(000632.SZ)在投资者互动平台表示，公司鳗鱼出口地区主要为美国、日 本、欧洲等。 ...

Core Viewpoint - Japanese restaurant brands are experiencing significant success in the Chinese market, with Sushi Ramen's parent company reporting record sales and operating profits, increasing by 19% and 54.4% respectively [4][5]. Group 1: Market Performance - Sushi Ramen and Bin Sushi have become extremely popular, often leading to long queues in shopping malls, indicating a surge in consumer interest in Japanese cuisine [5][9]. - Sushi Ramen's new stores in Shanghai are fully booked for two weeks in advance, showcasing the high demand for affordable sushi chains [7][9]. - The rapid expansion of local sushi brands and the entry of more Japanese brands into China have intensified competition in the Japanese cuisine sector [5][10]. Group 2: Competitive Landscape - Several Japanese brands are setting ambitious goals for expansion in China, with some aiming for "hundred-store" targets [11]. - Local restaurant giants, such as Haidilao, are entering the sushi market, indicating a trend towards localization in the Japanese cuisine sector [22]. - The competitive landscape is expected to become more intense as local brands adopt similar pricing strategies to attract consumers [21][22]. Group 3: Consumer Trends - The perception of Japanese cuisine has shifted, with consumers now more focused on price and value rather than just the origin of ingredients [17][25]. - The trend of "localization" in Japanese cuisine is growing, with domestic suppliers increasingly providing ingredients, reducing reliance on Japanese imports [23][25]. - The market for Japanese cuisine in China is projected to continue growing, with estimates suggesting a market size of 70 billion yuan by 2025 [24].

从本周监测数据显示：本周海产品价格较上周基本持平，从农贸市场和超市了解到，受个别超市打折促 销和新鲜度影响，超市鲅鱼、虾、销量较上周略有上涨，集市销量较上周大体持平，从加工企业了解 到，受客户订单需求增加的影响，本周鳗鱼出口量较上周涨幅明显，鲳鱼本周无出口量。目前以民生需 求为主的海产品资源供给充足、品类丰富。 中国发展网讯为及时掌握青岛市海产品产销和价格情况，加强价格监测预警，青岛市价格认证和监测中 心选取本市有代表性的海产品生产企业和销售单位共7家为全市海产品应急价格监测定点单位，其中包 括：3家大型超市、3家农贸市场和1家海产品加工企业，所监测品种分别为带鱼、鲅鱼、虾、虾皮、干 海带、牡蛎、鳗鱼、鲳鱼等，监测内容为品种价格和销售量。 虾类零售价格：农贸市场海明虾平均价格为34元，较上周持平，超市为27.87元，较上周持平，农贸市 场总销量1520斤，较上周下降2.56%，超市总销量607.32斤，较上周上涨32.03%。 海产干货类零售价格：农贸市场虾皮平均价格35元，较上周持平，超市为57.3元，较上周持平，农贸市 场总销售量850斤，较上周下降15.84%，超市总销量71斤,较上周上涨1.56倍；农 ...

Core Points - The company reported a total eel output of approximately 1,732.99 tons for October 2025, with 680.47 tons for export and 1,052.52 tons for internal use [2] - Cumulative eel output from January to October 2025 reached approximately 15,218.73 tons, with 8,478.82 tons for export and 6,739.90 tons for internal use [2] - The sales price range for eels in October was between 55,000 yuan/ton and 100,000 yuan/ton, while the cumulative price range from January to October was between 50,000 yuan/ton and 130,000 yuan/ton [2][5] Output Specifications - The eel output specifications are categorized by the number of eels per kilogram, referred to as "P" numbers [3] - The data provided is preliminary and unaudited, and may differ from figures disclosed in regular reports [3][6] - Price fluctuations in October were attributed to a small quantity of live eel exports to Japan and South Korea, which had different pricing compared to domestic sales [5] Additional Information - The data presented is based on internal statistics and is intended to provide investors with timely insights into the company's eel farming operations [6] - The company does not make any commitments or guarantees regarding future operational performance based on this data [6]

Core Viewpoint - Tianma Technology (603668) positions itself as a leading global aquaculture group driven by technology, focusing on the integration of various agricultural sectors and promoting the development of eight major aquaculture industry clusters [1] Group 1: Company Overview - Tianma Technology operates across the entire modern agricultural aquaculture value chain, including smart breeding, food processing, aquatic seed industry, animal nutrition, and feed [1] - The company emphasizes a technology-driven approach, leveraging AI to create smart aquaculture solutions and enhance the synergy between aquaculture and solar energy [1] Group 2: Strategic Focus - The company is concentrating on marine economy, green economy, and digital economy, aiming to revitalize the industry through its unique eel industry [1] - Tianma Technology's initiatives are aligned with rural revitalization efforts, contributing to farmers' income growth and striving to achieve the goal of "one eel swimming worldwide" [1]

Key Points - 华盛锂电's production and operations have not undergone significant changes, but the company faces risks of performance decline or losses due to uncertainties in the downstream lithium battery industry and ongoing cost reduction efforts [4] - 莎普爱思 has received approval for clinical trials of a drug aimed at maintaining dilation during cataract surgery, which may enhance its product offerings in the ophthalmology sector [5] - 奥比中光 has completed over 10 chip tape-outs, including iToF and dToF sensing chips, indicating strong progress in its chip development for 3D vision technology [6][7] - 利欧股份 has provided a joint liability guarantee of 420 million yuan for its wholly-owned subsidiary, indicating financial support amidst the subsidiary's reported losses [8] - 瀚川智能's controlling shareholder is facing judicial auction of 2.67% of its shares, which could impact the company's ownership structure [9] - 天汽模 is planning a cash acquisition of 50% of 东实股份, which would make it a controlling subsidiary, although the transaction is still in the planning stage [10] - 我武生物 has decided to terminate the development of a specific drug project, indicating a strategic shift in its R&D focus [11] - 航天机电's subsidiary has won an arbitration case for nearly 191.71 billion Korean won, which may have implications for the company's financials [12] - 长源电力's subsidiary has received approval for a 100MW wind power project, reflecting ongoing investments in renewable energy [13] Performance Overview - 天马科技 reported a total eel output of approximately 1732.99 tons in October 2025, with a sales price range of 55,000 to 100,000 yuan per ton [14] - 中国建筑 signed new contracts worth 3.61 trillion yuan in the first ten months of 2025, showing a year-on-year growth of 1% [15] - 赣粤高速's vehicle toll service revenue for October 2025 was 266 million yuan [16] - 中国中冶's new contract amount for the first ten months of 2025 was 845.07 billion yuan, a year-on-year decrease of 11.8% [17] - 中煤能源's coal sales in October 2025 were 21.88 million tons, a year-on-year decrease of 12.8% [18] - 上海机场's Pudong International Airport passenger throughput increased by 12.46% year-on-year in October 2025 [19] - 中国神华's coal production in October 2025 was 26.4 million tons, a year-on-year decrease of 7.4% [20] Shareholding Changes - 骆驼股份's chairman plans to reduce his stake by up to 0.6137% due to personal financial needs [21] - 清源股份's controlling shareholder has reduced its holdings of convertible bonds by 13.71% [22] - 永兴股份's shareholder plans to reduce its stake by up to 1% due to funding needs [23]

智通财经APP讯，天马科技(603668.SH)发布公告，2025年10月，公司鳗鱼出池约1732.99吨，其中外销 约680.47吨，自用约1,052.52吨，本月鳗鱼出池规格主要在1P-5P之间，销售价格区间为5.5万元/吨-10.0 万元/吨。2025年1-10月，公司鳗鱼累计出池约15,218.73吨，其中外销约8,478.82吨，自用约6,739.90 吨，本期鳗鱼出池规格主要在1P-5P之间，销售价格区间为5.0万元/吨-13.0万元/吨。 ...

Core Viewpoint - The company, Tianma Technology, reported its eel output for October 2025, indicating a significant production and sales performance in the eel industry [1] Group 1: October 2025 Eel Output - In October 2025, the company reported an eel output of approximately 1,732.99 tons, with external sales accounting for about 680.47 tons and self-use for approximately 1,052.52 tons [1] - The main specifications of the eels produced in October were between 1P-5P, with sales prices ranging from 55,000 yuan/ton to 100,000 yuan/ton [1] Group 2: Cumulative Output for January to October 2025 - From January to October 2025, the company’s cumulative eel output reached approximately 15,218.73 tons, with external sales of about 8,478.82 tons and self-use of approximately 6,739.90 tons [1] - The specifications for the cumulative output during this period were also primarily in the 1P-5P range, with sales prices varying from 50,000 yuan/ton to 130,000 yuan/ton [1]

人民财讯11月14日电，天马科技（603668）11月14日公告，2025年10月，公司鳗鱼出池约1732.99吨， 其中外销约680.47吨，自用约1052.52吨，销售价格区间为5.5万元/吨~10万元/吨。 2025年1~10月，公司鳗鱼累计出池约15218.73吨，销售价格区间为5万元/吨~13万元/吨。 ...