Fujian Tianma Science and Technology Group Co Ltd

Fujian Tianma Technology Group Co., Ltd. announced on October 8 that the company and its subsidiaries had failed to fulfill some debt repayment obligations on time. As of October 7, overdue principal on loans from financial institutions and bills totaled 230 million yuan, accounting for 10.90% of the company's most recent audited net assets. Of this, overdue principal on loans from financial institutions was 160 million yuan, and overdue principal on bills was 70.1446 million yuan. The company cautioned that the overdue debts may lead to higher financial expenses and weaker financing capacity. If not properly resolved later, the company may face risks such as litigation, arbitration, performance of guarantee obligations, frozen bank accounts, and frozen assets, which could affect this year's performance. The company is working through multiple channels to broaden financing options, raise funds for repayment, and negotiate with creditors on extensions and adjusted repayment plans. On the same day, the company also disclosed that part of the shares held by controlling shareholder and actual controller Chen Qingtang had been frozen pending rotation. Chen Qingtang holds 85.2038 million shares of the company, representing 16.85% of total share capital. The shares frozen pending rotation this time amount to 4.4479 million shares, representing 5.22% of his holdings and 0.88% of total share capital. As of the disclosure date, Chen Qingtang and his concert parties together hold 147 million shares of the company, representing 29.12% of total share capital. Among these, a cumulative 2.9338 million shares have been judicially frozen, representing 1.99% of their holdings and 0.58% of total share capital, and a cumulative 7.8236 million shares have been frozen pending rotation, representing 5.31% of their holdings and 1.55% of total share capital. The company said the current freeze pending rotation will not have a material impact on daily production and operations or corporate governance, nor will it cause a change in the controlling shareholder or actual controller. However, if related debt disputes cannot be properly resolved with creditors in the future, the frozen shares may be subject to forced transfer or judicial auction. Tianma Technology was founded in 2005 and listed on the main board of the Shanghai Stock Exchange in January 2017. Its main businesses include specialty aquaculture, animal husbandry, marine food, and marine seed industries. In the first half of 2026, it achieved revenue of 3.132 billion yuan, up 5.34% year on year, while net profit attributable to shareholders of the listed company was 12.3279 million yuan, down 79.53% year on year.

Tianma Technology released its 2026 interim report. Total operating revenue was 3.132 billion yuan, and net profit attributable to the parent company was 12.3279 million yuan, down 79.53% from the same period last year. Net cash inflow from operating activities was 187 million yuan. The asset-liability ratio was 72.05%, gross margin was 8.28%, and diluted earnings per share was 0.02 yuan. The number of shareholders was 20,300, and the top ten shareholders held 44.64% of total share capital.

Tianma Technology disclosed its 2026 semi-annual report on the evening of August 30. During the reporting period, the company achieved operating revenue of 3.132 billion yuan, up 5.34% year on year, but net profit attributable to shareholders of the listed company was 12.3279 million yuan, down 79.53% year on year. Facing low eel market prices, the company proactively adjusted its harvesting pace, and the feed business became an important support. Sales revenue from specialty aquatic feed was about 771 million yuan, up 84.43% year on year, while the livestock and poultry feed business achieved operating revenue of about 1.649 billion yuan, up 5.29% year on year. In the food business, grilled eel sales reached 3,680.90 tonnes, up 0.53% year on year, setting a record high, and the proportion of eels used in-house rose to 75.90%. The company said that as eel prices recover and the peak consumption season approaches, the synergistic value of the industry chain is expected to become more evident.

Tianma Technology issued an earnings forecast, expecting net profit attributable to shareholders of the listed company for the first half of 2026 to be between 10.5 million yuan and 15.5 million yuan, a year-on-year decline of 74.26% to 82.56%.