证券代码：002419 证券简称：天虹股份 公告编号：2024-040 天虹数科商业股份有限公司 2024 年第二次临时股东大会决议公告 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。 1.本次股东大会没有出现否决议案的情形。 2.本次股东大会没有涉及变更前次股东大会的决议。 一、会议召开和出席情况 （一）会议召开情况 特别提示： 1.召开时间：2024 年 11 月 11 日（星期一）下午 14:30。 网络投票日期、时间：2024 年 11 月 11 日。其中，通过深圳证券交易所交 易系统进行网络投票的具体时间为：2024 年 11 月 11 日 9:15-9:25，9:30－11:30 和 13:00－15:00；通过深圳证券交易所互联网投票系统投票的具体时间为：2024 年 11 月 11 日 9:15－15:00。 2.现场会议召开地点：深圳市南山区中心路（深圳湾段）3019 号天虹大厦 18 楼 2 号会议室。 3.召开方式：本次股东大会采取现场表决与网络投票相结合的方式。 4.股权登记日：2024 年 11 月 4 日。 5.会议召集人：天虹数科 ...

Investment Rating - The report maintains a "Buy" rating for the company [2][3][7] Core Views - The company is accelerating its store upgrade transformation, expecting a recovery in performance. The first SP@CE3.0 store opened in Shenzhen, achieving a sales increase of 196% year-on-year and 121% quarter-on-quarter on its opening day without promotional activities [2] - The company's performance has fallen below previous expectations, primarily due to pressure on its department store segment amid intense competition in the offline retail industry. As a result, profit forecasts for 2024, 2025, and 2026 have been revised down by 35%, 40%, and 42% to 121 million, 120 million, and 122 million yuan respectively [2][3] Financial Summary - For the first three quarters of 2024, the company reported a revenue of 9.047 billion yuan, a decrease of 2.22% year-on-year, and a net profit attributable to shareholders of 118 million yuan, down 47.32% year-on-year. The adjusted net profit was 62 million yuan, a decline of 48.66% year-on-year [3][4] - The comprehensive gross margin for the first three quarters of 2024 was 36.50%, a decrease of 0.99 percentage points year-on-year. The expense ratio for the same period was 34.52%, down 2.04 percentage points year-on-year [3][4] - The company’s revenue and net profit projections for 2024E, 2025E, and 2026E are 11.826 billion, 11.784 billion, and 11.886 billion yuan respectively, with net profits of 121 million, 120 million, and 122 million yuan [4][13]

Investment Rating - The report maintains a rating of "Buy" for Tianhong Co., Ltd. [6] Core Views - The company experienced operational fluctuations in Q3, but the upgrade of its first supermarket store yielded excellent results, with expectations for further promotion [3] - Revenue for the first three quarters was 9.05 billion yuan, down 2.22%, with a net profit attributable to shareholders of 118 million yuan, down 47.3% [3] - The forecast for EPS from 2024 to 2026 has been adjusted to 0.18, 0.22, and 0.25 yuan respectively, reflecting a growth rate of -8%, 23%, and 17% [3] - The target price has been revised down to 6.6 yuan, based on comparable company valuations [3][13] Financial Summary - Q3 revenue was 2.93 billion yuan, down 3.05%, with a net profit attributable to shareholders of -36 million yuan, a decrease of 458% [3] - The gross profit margin for the first three quarters was 36.5%, a decrease of 0.99 percentage points [3] - The company operated 41 shopping centers, 59 department stores, and 112 supermarkets as of Q3 [4] - The operating cash flow for the first three quarters was 1.24 billion yuan, down 42.1% [3] Business Performance - The shopping center segment saw revenue of 536 million yuan in Q3, an increase of 4.12%, while department stores and supermarkets experienced declines of 11.5% and 2.34% respectively [4] - The first SP@CE3.0 supermarket opened on September 6 in Shenzhen, achieving a sales increase of 196% on its opening day [4] - Digital membership reached 50 million, indicating rapid development in digital transformation [4] Valuation - The reasonable valuation for the company's stock is estimated at 6.6 yuan, based on a PE ratio of 30 for 2025 [13] - The average PE for comparable companies in 2024-2025 is projected at 34 and 29.5 times respectively [13]

Investment Rating - The report maintains a "Buy" rating for Tianhong Co., Ltd. (002419) [4][5][6] Core Views - The company reported a decline in revenue and net profit for the first three quarters of 2024, with revenue of 9.05 billion yuan, down 2.22% year-on-year, and a net profit of 118 million yuan, down 47.32% year-on-year [4][5] - Despite the pressure on profitability, the company is focusing on transforming its offline business and upgrading its supermarket stores, which has shown positive results in customer traffic and sales [5] - The company is accelerating its digital transformation by developing an AI model to enhance retail operations and customer experience [5] Summary by Sections Market Data - Closing price: 5.06 yuan - One-year high/low: 6.10/3.93 yuan - Price-to-book ratio: 1.4 - Dividend yield: 3.16% - Circulating A-share market value: 5,914 million yuan [1] Financial Data - Total revenue for 2024E is projected at 12.25 billion yuan, with a year-on-year growth rate of 1.3% [6] - Net profit for 2024E is expected to be 173 million yuan, a decrease of 23.5% year-on-year [6] - Gross margin for 2024E is projected at 37.2% [6] Performance Comparison - The company's stock price has shown a decline compared to the market index over the past year [3] Operational Highlights - The company has upgraded its store formats, resulting in an 8.8% increase in customer traffic and improved rental rates for shopping centers and department stores [5] - The gross margin has faced pressure, but effective cost control measures have been implemented, leading to a decrease in expense ratios [5] - The launch of the SP@CE3.0 store format has resulted in significant sales growth, with one store achieving over 1 million yuan in sales on its opening day [5]

天虹数科商业股份有限公司 关于召开2024年第二次临时股东大会的通知 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。 天虹数科商业股份有限公司（以下简称"公司"）第六届董事会第二十六次 会议审议通过了《关于提议召开公司2024年第二次临时股东大会的议案》，将于 2024年11月11日（星期一）召开公司2024年第二次临时股东大会，现将有关事项 通知如下： 一、召开会议基本情况 1.股东大会届次：2024年第二次临时股东大会。 证券代码：002419 证券简称：天虹股份 公告编号：2024-039 2.会议召集人：公司第六届董事会。 3.会议召开合法合规性：本次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。 4.现场会议召开日期、时间：2024年11月11日（星期一）14:30。 网络投票日期、时间：2024年11月11日。其中，通过深圳证券交易所交易系 统进行网络投票的具体时间为：2024年11月11日9:15-9:25，9:30－11:30，13:00 －15:00；通过深圳证券交易所互联网投票系统投票的具体时间为：2024年1 ...

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。 特别提示： 1. 拟聘请的会计师事务所：容诚会计师事务所（特殊普通合伙）。 证券代码：002419 证券简称：天虹股份 公告编号：2024-038 天虹数科商业股份有限公司 关于聘请会计师事务所的公告 2. 原聘请的会计师事务所：大华会计师事务所（特殊普通合伙）。 3. 变更会计师事务所的原因：根据国有企业对于选聘会计师事务所的相关 规定，综合考虑公司业务发展和审计需求等实际情况，经综合评估及审慎研究， 公司拟聘请容诚会计师事务所（特殊普通合伙）为公司2024年度财务报表和内部 控制审计机构。 机构名称：容诚会计师事务所（特殊普通合伙） 成立日期：由原华普天健会计师事务所（特殊普通合伙）更名而来，初始成 立于 1988 年 8 月，2013 年 12 月 10 日改制为特殊普通合伙企业 组织形式：特殊普通合伙 注册地址：北京市西城区阜成门外大街 22 号 1 幢外经贸大厦 901-22 至 1 901-26 首席合伙人：肖厚发 天虹数科商业股份有限公司（以下简称"公司"）第六届董事会第二十六次 会议审议通过了《公 ...

一、董事会会议召开情况 天虹数科商业股份有限公司(以下简称"公司")第六届董事会第二十六次会 议于2024年10月24日在深圳市南山区中心路（深圳湾段）3019号天虹大厦20楼总 办会议室以现场和视频相结合的方式召开，会议通知已于2024年10月19日以书面 及电子邮件方式发出。本次会议由公司董事长主持，会议应到董事9名，实际出 席董事9名，部分监事和高级管理人员列席了会议。本次会议的召开符合《公司 法》、《公司章程》及《公司董事会议事规则》的有关规定。 二、董事会会议审议情况 （一）会议审议通过了《关于增补公司第六届董事会专门委员会委员的议 案》 同意选举万颖女士为公司第六届董事会审计委员会委员、郭高航先生为公司 第六届董事会战略与ESG委员会委员，任期自本次董事会通过之日起至第六届董 事会届满之日止。 证券代码：002419 证券简称：天虹股份 公告编号：2024-035 天虹数科商业股份有限公司 第六届董事会第二十六次会议决议公告 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。 1 登的《公司 2024 年第三季度报告（2024-037）》。 （三）会议 ...

Financial Performance - The company's operating revenue for Q3 2024 was ¥2,927,881,962.04, a decrease of 3.05% compared to the same period last year[3]. - The net profit attributable to shareholders for Q3 2024 was a loss of ¥35,513,333.97, representing a decline of 457.56% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥54,241,580.66, down 210.18% year-on-year[3]. - The company's overall sales revenue for the third quarter was 832,250,000 yuan, a decrease of 3.97% year-on-year[11]. - The comparable store sales revenue decreased by 4.92% to 808,738,000 yuan, while new store sales revenue increased by 241% to 23,511,000 yuan[12]. - The net profit for Q3 2024 was CNY 118,998,092.33, a decrease of 46.9% compared to CNY 224,195,970.58 in the same period last year[24]. - The total comprehensive income for the period was CNY 119,037,132.36, compared to CNY 224,339,808.81 in the prior year, representing a decline of approximately 47%[24]. - The company reported a total profit of CNY 171,857,800.16 for Q3 2024, down from CNY 303,147,275.84 in the same quarter last year, reflecting a decline of approximately 43.4%[24]. - The basic earnings per share for Q3 2024 was CNY 0.1012, compared to CNY 0.1922 in the same period last year, a decrease of about 47.4%[24]. Assets and Liabilities - The company's total assets as of the end of Q3 2024 were ¥26,688,380,124.71, a decrease of 6.35% from the end of the previous year[3]. - The total assets decreased to CNY 26,688,380,124.71 from CNY 28,497,099,631.74, a decline of 6.3%[22]. - Total liabilities decreased to CNY 22,538,234,549.32 from CNY 24,278,975,548.71, a reduction of 7.2%[22]. - The equity attributable to shareholders of the parent company was CNY 4,139,838,704.20, down from CNY 4,208,470,205.40, a decrease of 1.6%[22]. - The company reported a decrease in accounts payable to CNY 1,763,852,374.05 from CNY 2,505,761,338.40, a significant drop of 29.5%[22]. - The total current assets as of September 30, 2024, were approximately RMB 4.64 billion, down from RMB 9.38 billion at the start of the year[20]. - The company's cash and cash equivalents decreased by 857.27% year-on-year, primarily due to increased time deposits[9]. - As of September 30, 2024, the company's cash and cash equivalents amounted to approximately RMB 3.07 billion, a decrease from RMB 5.30 billion at the beginning of the year[20]. - The cash and cash equivalents decreased to CNY 5,944,908,967.52 from CNY 1,623,105,865.33, indicating a shift in liquidity management[22]. Cash Flow - Cash flow from operating activities for the year-to-date was ¥1,241,374,445.44, down 42.12% year-on-year[3]. - The net cash flow from operating activities was CNY 1,241,374,445.44, significantly lower than CNY 2,144,832,803.62 in the previous year, indicating a decrease of about 42.1%[26]. - The total cash outflow from financing activities was CNY 1,603,658,810.48, compared to CNY 1,389,329,464.38 in the previous year, indicating an increase of approximately 15.4%[27]. - The company experienced a net cash outflow from investing activities of CNY 1,897,956,190.11, compared to a smaller outflow of CNY 457,230,024.47 in the previous year, reflecting a significant increase in cash outflow[26]. Operational Highlights - The company signed a new project in Hangzhou with an area of 56,000 square meters and a lease term of 20 years[11]. - The digital industrialization business is rapidly developing, with the company obtaining 3 new invention patents and 12 software registrations[10]. - The company is focusing on digital transformation and cost control to enhance operational efficiency amid a challenging retail environment[10]. - The company is focusing on market expansion and new product development as part of its strategic initiatives for future growth[23]. - The company plans to enhance its technology capabilities through ongoing investments in data resources and innovation[23]. Shareholder Information - The top shareholder, AVIC International Holdings, holds 44.56% of the shares, with a total of 36,445 common shareholders[17]. - The company has not disclosed any changes in the relationships among the top shareholders, nor if they are considered acting in concert under relevant regulations[18]. - The company’s major shareholder, Wulong Trading Co., Ltd., signed a termination agreement with AVIC International on August 9, 2024[19]. - The company has appointed new board members and supervisors following the resignation of previous members, enhancing its governance structure[19].

证券代码：002419 证券简称：天虹股份 公告编号：2024-036 天虹数科商业股份有限公司 第六届监事会第十一次会议决议公告 本公司及监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、监事会会议召开情况 天虹数科商业股份有限公司(以下简称"公司")第六届监事会第十一次会议 于 2024 年 10 月 24 日以通讯形式召开，会议通知已于 2024 年 10 月 19 日以书面 及电子邮件方式发送全体监事及董事会秘书。本次会议应到监事 3 名，实到 3 名。本次会议的召开符合《公司法》、《公司章程》及《公司监事会议事规则》的 有关规定。 二、监事会会议审议情况 （一）会议审议通过了《关于选举公司监事会主席的议案》 同意选举胡敏女士为公司监事会主席，任期自公司本次监事会通过之日起至 公司第六届监事会届满之日止。 表决结果：3 票同意，0 票反对，0 票弃权。 （二）会议审议通过了《公司 2024 年第三季度报告》 经审核，监事会认为董事会编制和审核《公司 2024 年第三季度报告》的程 序符合法律、法规和中国证监会的规定，报告内容真实、准确、完整地反应了公 司的实 ...

北京市中伦（深圳）律师事务所 关于天虹数科商业股份有限公司 2024 年第一次临时股东大会的 法律意见书 二〇二四年十月 北京市中伦（深圳）律师事务所 关于天虹数科商业股份有限公司 2024 年第一次临时股东大会的 法律意见书 提供的文件和所作的陈述和说明是完整、真实和有效的，无任何隐瞒、疏漏之处。 本法律意见书仅就本次股东大会的召集和召开程序、出席本次股东大会人员 的资格、召集人资格、会议表决程序是否符合中国相关法律、法规及《公司章程》 的规定以及表决结果是否合法有效发表意见，并不对本次股东大会所审议的议案 内容以及该等议案所表述的相关事实或数据的真实性、准确性或合法性发表意见。 本法律意见书仅供见证本次股东大会相关事项合法性之目的而使用，未经本 所书面同意，任何人不得将其用做其他任何目的。 本所律师根据法律的要求，按照律师行业公认的业务标准、道德规范和勤勉 尽责的精神，对公司所提供的相关文件和相关事实进行了核查和验证，现出具法 律意见如下： 法律意见书 致：天虹数科商业股份有限公司 北京市中伦（深圳）律师事务所（下称"本所"）接受天虹数科商业股份有 限公司(下称"公司"/"天虹股份")的委托，指派律师对公 ...