证券代码：603668 证券简称：天马科技 公告编号：2026-007 福建天马科技集团股份有限公司 关于公司对外担保的进展公告 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： 担保对象及基本情况 | | 被担保人名称 | 福建天马科技集团股份有限公司 （以下简称"公司"或"本公司"） | | | | --- | --- | --- | --- | --- | | | | 全资子公司 | | | | 担保对象一 | 本次担保金额 | 5,000.00 | 万元 | | | | 实际为其提供的担保余额 | 169,302.72 万元 | | | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | 本次担保是否有反担保 | □是 | 否 | □不适用：_________ | | 担保对象二 | 被担保人名称 | 公司控股子公司 | | | | | 本次担保金额 | 万元 16,100.00 | | | | | 实际为其提供的担保余额 | 90,348.45 万元 | | ...

（文章来源：每日经济新闻） 2月3日，2026年中央一号文件发布。文件提出，粮食产量稳定在1.4万亿斤左右，加力实施新一轮千亿 斤粮食产能提升行动；促进人工智能与农业发展相结合，拓展无人机、物联网、机器人等应用场景，加 快农业生物制造关键技术创新；全面开展第二轮土地承包到期后再延长三十年整省试点；推动金融机构 加大对农业农村领域资金投放，加大对涉农企业和农户贷款展期、续贷支持力度；科学有序推进农业转 移人口市民化，推行由常住地登记户口提供基本公共服务制度。 广发证券解读认为，中央一号文件发布，加快建设农业强国，农业农村现代化大有可为。国家高度重视 粮食安全与育种创新，龙头种业公司具备育种研发优势，并有望充分受益于生物育种产业化。 2月4日，农业板块红盘震荡，截至13点23分，农业ETF华夏（516810）红盘向上，持仓股农发种业涨超 5%，海大集团、牧原股份、天马科技、登海种业等跟涨。近5日，该ETF获得资金净流入1939万元，板 块关注度有所提升。 ...

从资金流向上来看，当日饲料板块主力资金净流出9992.05万元，游资资金净流入4675.29万元，散户资金 净流入5316.76万元。饲料板块个股资金流向见下表： 证券之星消息，2月3日饲料板块较上一交易日上涨0.34%，天马科技领涨。当日上证指数报收于 4067.74，上涨1.29%。深证成指报收于14127.1，上涨2.19%。饲料板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603668 | 天马科技 | 15.52 | 4.51% | 15.82万 | 2.42亿 | | 002548 | 金新农 | 6.60 | 2.33% | 32.63万 | 2.13亿 | | 000702 | 正虹科技 | 6.98 | 1.90% | 8.67万 | 5977.83万 | | 001366 | 播恩集团 | 14.19 | 1.28% | 4.13万 | 5815.10万 | | 688156 | 路德科技 | 19.13 | 1.22% | 1.74万 | 3323. ...

Core Viewpoint - Tianma Technology Group Co., Ltd. is expected to report a net profit loss of 120 million to 180 million yuan for 2025 due to macroeconomic fluctuations, industry cyclical adjustments, and intensified market competition [1] Group 1: Financial Performance - The company's performance is significantly impacted by macroeconomic fluctuations, industry cyclical adjustments, and increased market competition, leading to a downward trend in sales prices for live and grilled eel [1] - The eel industry is currently in a downturn, with losses reported in both the farming and grilled eel food sectors [1] - The feed segment has experienced a decline in gross profit due to market structural adjustments and intensified competition, compounded by increased period expenses and asset impairment provisions [1] Group 2: Industry Position and Strategy - Despite the temporary fluctuations in annual performance, Tianma Technology has established a comprehensive industrial chain from seedling to food, which solidifies its leading position in the eel industry and enhances its core competitiveness [1] - The eel industry is undergoing a critical phase of structural optimization and value reassessment, where the company's full industrial chain synergy advantages will gradually become apparent [1] - Tianma Technology has built large-scale industrial clusters and two major breeding bases across eight provinces, forming a complete industrial ecosystem covering seedlings, feed, farming, processing, sales, and brand operation [1] Group 3: Market Expansion and Innovation - The company is advancing a "dual circulation" strategy in response to changes in the global eel trade landscape, having obtained direct export qualifications for live eels to Japan and South Korea, and successfully air-freighting live eels to Japan [2] - Tianma's eel products are now sold in over 70 countries and regions globally, with a continued diversification of export markets [2] - Domestically, brands such as "Eel Hall" and "Little Eel Hall" have successfully penetrated supermarkets, restaurants, e-commerce, and new retail channels, while also developing innovative products like hot pot eel slices and grilled eel skewers to meet domestic consumption scenarios [2] - The eel industry is experiencing a profound transformation from "resource dependence" to "technology-driven," from "export-led" to "balanced domestic and international," and from "raw material export" to "brand management" [2] - The company aims to optimize strategic layouts, expand sales channels for farming and processing products, explore innovative business models, and drive technological innovation to build new competitive advantages for future recovery and growth [2]

Core Viewpoint - The company, Fujian Tianma Technology Group Co., Ltd., anticipates a significant loss for the fiscal year 2025, with projected net profit attributable to shareholders ranging from -180 million to -120 million yuan, indicating a downturn compared to the previous year [1][2]. Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025 [1]. - The expected net profit attributable to shareholders for 2025 is projected to be between -180 million and -120 million yuan, representing a loss compared to the previous year's net profit of 26.03 million yuan [2]. - The anticipated net profit, excluding non-recurring gains and losses, is expected to be between -200 million and -140 million yuan [1][2]. Previous Year Performance - In 2024, the net profit attributable to shareholders was 26.03 million yuan, with a net profit of 9.85 million yuan after excluding non-recurring gains and losses [2]. Reasons for Performance Change - The decline in performance is attributed to macroeconomic fluctuations, cyclical adjustments in the industry, and intensified market competition. Additionally, an increase in supply expectations due to a bumper harvest of Japanese eel fry has led to a downward trend in sales prices for live and grilled eel, placing the eel industry in a low point [4]. - Despite maintaining a stable output of live eels and grilled eel product sales, the company faces pressure on product sales prices and rising production costs due to the cyclical downturn in the industry. The feed sector is also experiencing declining gross margins due to market structural adjustments and increasing competition, compounded by rising period expenses and asset impairment provisions, resulting in a temporary loss for the company [4].

Core Viewpoint - Tianma Technology (603668.SH) anticipates a net profit loss of 120 million to 180 million yuan for 2025 due to macroeconomic fluctuations and industry cyclical adjustments, yet maintains its leading position and core competitiveness in the global eel industry [1] Group 1: Short-term Challenges and Long-term Strengths - Despite short-term performance pressures, the overall operational foundation of the company remains solid, with steady growth in aquaculture and food businesses, achieving historical highs in live eel output and grilled eel product sales [2] - As the only A-share listed company covering the entire eel industry chain in China, Tianma Technology has established large-scale industrial clusters and two major breeding bases across eight provinces, forming a complete industrial ecosystem from seedling to food [2] - The company is actively adjusting its seedling structure to capitalize on the price window for Japanese eel seedlings, establishing a new breeding pattern focused on Japanese eel, which positions it to maintain high output levels in the future [2] Group 2: Dual Market Strategy and Brand Development - Tianma Technology is advancing its "domestic and international dual circulation" strategy, having obtained direct export qualifications for live eels to Japan and South Korea, and launched its own brand "Reward Eel" in Tokyo, enhancing its international influence and brand premium [3] - The company's eel products are now sold in over 70 countries and regions globally, with a diversified export market [3] - Domestically, brands like "Eel Hall" and "Little Eel" have successfully penetrated supermarkets, restaurants, e-commerce, and new retail channels, while innovating products to meet domestic consumption scenarios [3] Group 3: Industry Upgrade and Value Reassessment - The eel industry is undergoing a profound transformation from "resource dependence" to "technology-driven," and from "export-led" to "balanced domestic and international focus," with Tianma Technology transitioning from "scale expansion" to "structural optimization" [4] - With the deepening trend of domestic consumption upgrades and continuous exploration of the domestic market, the company is expected to play a leading role in the new growth cycle of the industry [4] - The company aims to enhance its core competitiveness and solidify its leading position through strategic layout optimization, channel expansion, and innovation in operations and technology, preparing for future recovery and growth [4]

Core Viewpoint - Tianma Technology (603668.SH) is expected to report a net loss attributable to shareholders of the listed company ranging from -180 million to -120 million yuan for the fiscal year 2025, indicating a decline compared to the previous year [1] Financial Performance - The projected net profit excluding non-recurring gains and losses for 2025 is estimated to be between -200 million and -140 million yuan [1] - The company is facing a challenging financial outlook due to macroeconomic fluctuations, cyclical adjustments in the industry, and intensified market competition [1] Industry Context - The eel industry is currently in a downturn, with a decrease in sales prices for live eels and grilled eel products due to an expected increase in supply from Japan's abundant eel fry production in 2025 [1] - The company has experienced losses in both the farming and grilled eel food segments as a result of these industry challenges [1] Operational Insights - Despite the adverse market conditions, the company has managed to maintain stable output of live eels and sales volume of grilled eel products [1] - However, the company is facing pressure on product sales prices and rising production costs, leading to a decline in gross margins for the feed segment [1] - Increased operating expenses and provisions for asset impairment have also contributed to the company's projected losses for the year [1]

Core Viewpoint - Tianma Technology expects a significant net loss for the fiscal year 2025, projecting a loss between 120 million to 180 million yuan, compared to a net profit of 26.03 million yuan in the same period last year [1] Financial Performance - The company anticipates a net profit attributable to shareholders, excluding non-recurring gains and losses, to be a loss between 140 million to 200 million yuan for 2025 [1] Industry Context - The company cites macroeconomic fluctuations, cyclical adjustments in the industry, and intensified market competition as contributing factors to its financial outlook [1] - The eel industry is currently experiencing a downturn, with a decrease in sales prices for live eels and grilled eels due to an expected increase in market supply from a bumper harvest of eel fry in Japan [1] - Both the farming sector and the grilled eel food segment are facing losses during this low point in the industry [1]

Financial Performance Forecast - The company expects a net profit attributable to shareholders for 2025 to be between -180 million and -120 million CNY, indicating a loss compared to the previous year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between -200 million and -140 million CNY for 2025[4]. - In 2024, the net profit attributable to shareholders was 26.03 million CNY, with a net profit of 9.85 million CNY after deducting non-recurring gains and losses[5]. Factors Affecting Performance - The decline in performance is attributed to macroeconomic fluctuations, industry cyclical adjustments, and intensified market competition, leading to a decrease in sales prices for eel products[6]. - The company has seen stable growth in the volume of live eel and grilled eel products, but overall sales prices are under pressure due to industry downturns[6]. - Increased production costs and rising expenses, along with asset impairment provisions, have contributed to the company's operational losses for the year[7]. Forecast Data Considerations - The performance forecast is based on preliminary calculations by the company's finance department and has not been audited by an accounting firm[8]. - Investors are advised to consider the preliminary nature of the forecast data, which will be finalized in the audited annual report[9].

Core Viewpoint - Tianma Technology has announced an annual performance forecast indicating a significant expected net loss for 2025, primarily due to macroeconomic fluctuations, industry cyclical adjustments, and intensified market competition [1] Financial Performance - The company anticipates a net profit attributable to shareholders of between -120 million to -180 million yuan for 2025, with a non-recurring profit forecast of -140 million to -200 million yuan [1] - This represents a substantial decline compared to the previous year's profit of 26.03 million yuan [1] Industry Context - The eel industry is currently experiencing a downturn, influenced by an increase in supply expectations due to a bumper harvest of eel fry in Japan, leading to a downward trend in sales prices for live and grilled eel [1] - The company is facing losses in both the farming and grilled eel food sectors due to these market conditions [1] Operational Challenges - Despite maintaining a steady output of live eels and grilled eel product sales, the company is under pressure from declining product prices and rising production costs [1] - The feed segment is also experiencing reduced gross margins due to market structural adjustments and increasing competition [1] - Additional factors contributing to the expected losses include increased operating expenses and provisions for asset impairment [1]