证券代码：603699 证券简称：纽威股份 公告编号：临 2025-034 苏州纽威阀门股份有限公司 第五届董事会第二十八次会议决议的公告 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。 表决结果：7 票同意，0 票反对，0 票弃权。 2、 审议通过《关于补选公司第五届董事会董事的议案》； 一、董事会会议召开情况 苏州纽威阀门股份有限公司（以下简称"公司"）第五届董事会第二十八次会 议于 2025 年 04 月 18 日以电子邮件、电话通知的方式发出会议通知，于 2025 年 04 月 29 日下午在公司会议室以现场结合通讯表决方式召开。本次会议应参加董 事 7 名，实际参加董事 7 名。会议由董事长鲁良锋先生主持，公司全体监事、董 事会秘书及其他部分高级管理人员列席了会议。会议的召集、召开及表决程序符 合有关法律、法规、部门规章、规范性文件和公司章程的规定，会议程序合法、 有效。 二、董事会会议审议情况 本次会议经与会董事认真审议，以投票表决方式做出如下决议： 1、 审议通过《关于公司 2025 年第一季度报告的议案》； 本 ...

证券代码：603699 证券简称：纽威股份 公告编号：临 2025-036 苏州纽威阀门股份有限公司 关于补选第五届董事会董事的公告 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。 一、关于董事辞职的情况说明 审议。 特此公告。 苏州纽威阀门股份有限公司 董事会 2025 年 04 月 30 日 2 苏州纽威阀门股份有限公司（以下简称"公司"）董事会于 2025 年 4 月 23 日收到公司董事吴真林先生提交的书面辞职报告。吴真林先生因个人原因申请辞 去公司董事职务，同时辞去董事会审计委员会委员、董事会薪酬与考核委员会委 员职务，辞职后将不再担任本公司任何职务。公司董事会对吴真林先生在任职期 间对公司做出的贡献表示衷心的感谢。截至本公告披露日，吴真林先生未持有公 司股份。 根据《公司法》《公司章程》等有关规定，吴真林先生辞职不会导致公司董 事会成员低于法定最低人数，但其辞职将导致公司董事会审计委员会人数低于法 定人数。为确保董事会审计委员会的正常运作，吴真林先生的辞职申请将在公司 补选产生新任董事会审计委员会委员后生效。在此期 ...

苏州纽威阀门股份有限公司 2024 年年度股东大会 会议资料 二〇二五年五月 1 纽威股份 2024 年年度股东大会会议资料 | | | | 年年度股东大会须知 4 2024 | | --- | | 年年度股东大会会议议程 6 2024 | | 关于 年度董事会工作报告的议案 8 2024 | | 关于 2024 年度监事会工作报告的议案 19 | | 关于 2024 年度财务决算报告的议案 23 | | 关于 2025 年度财务预算报告的议案 30 | | 关于 2024 年度利润分配预案的议案 32 | | 关于 2025 年度中期利润分配预案的议案 33 | | 关于 年年度报告及摘要的议案 34 2024 | | 关于公司及子公司 年度向银行申请综合授信额度的议案 35 2025 | | 关于公司 年度为下属控股子公司提供担保额度的议案 39 2025 | | 关于公司使用自有资金购买理财产品的议案 41 | 2 纽威股份 2024 年年度股东大会会议资料 | 关于续聘容诚会计师事务所（特殊普通合伙）为公司审计机构及内部控制审计机构的议 | | | | --- | --- | --- | | 案 | ...

一、 股东大会有关情况 1. 股东大会的类型和届次： 2024年年度股东大会 证券代码：603699 证券简称：纽威股份 公告编号：临 2025-037 苏州纽威阀门股份有限公司 关于2024年年度股东大会增加临时提案的公告 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。 召开日期时间：2025 年 5 月 15 日 14 点 00 分 召开地点：江苏省苏州市高新区泰山路 666 号会议室 | 股份类别 | 股票代码 | 股票简称 | 股权登记日 | | --- | --- | --- | --- | | Ａ股 | 603699 | 纽威股份 | 2025/5/8 | 二、 增加临时提案的情况说明 公司已于2025 年 4 月 23 日公告了 2024 年年度股东大会召开通知，合计直 接持有53.28%股份的股东王保庆、程章文、陆斌、席超，在2025 年 4 月 29 日 提出临时提案并书面提交股东大会召集人。股东大会召集人按照《上市公司股东 大会规则》有关规定，现予以公告。 2. 股东大会召开日期：2025 年 5 月 15 ...

证券代码：603699 证券简称：纽威股份 公告编号：临 2025-035 具体内容详见公司同日披露于上海证券交易所网站（www.sse.com.cn）的《纽 威股份 2025 年第一季度报告》。 特此公告。 苏州纽威阀门股份有限公司（以下简称"公司"）第五届监事会第二十一次会 议于 2025 年 04 月 18 日以电子邮件、电话通知的方式发出会议通知，于 2025 年 04 月 29 日下午在公司会议室召开，应到监事 3 名，实到监事 3 名。会议由监 事会主席邹琴女士主持，会议的召开符合有关法律、行政法规、部门规章、规范 性文件和公司章程的规定。 二、监事会会议审议情况 会议审议了以下议案： 1. 审议通过《关于公司 2025 年第一季度报告的议案》； 表决结果：3 票同意，0 票反对，0 票弃权。 苏州纽威阀门股份有限公司 第五届监事会第二十一次会议决议的公告 本公司监事会及全体监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。 一、监事会会议召开情况 苏州纽威阀门股份有限公司 监事会 2025 年 04 月 30 日 1 ...

苏州纽威阀门股份有限公司2025 年第一季度报告 证券代码：603699 证券简称：纽威股份 苏州纽威阀门股份有限公司 2025 年第一季度报告 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 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、主要财务数据 (一) 主要会计数据和财务指标 2 / 12 苏州纽威阀门股份有限公司2025 年第一季度报告 | 支付费用 | | | --- | --- | | 对于现金结算的股份支付，在可行权日之后， | | | 应付职工薪酬的公允价值变动产生的损益 | | | 采用公允价值模式进行后续计量的投资性房地 | | | 产公允价值变动产生的损益 | | | 交易价格显失公允的交易产生的收益 | | | 与公司正常经营业务无关的 ...

Investment Rating - The investment rating for the company is "Accumulate" (首次覆盖) [3] Core Views - The company has achieved significant performance growth driven by breakthroughs in multiple high-end products, with a revenue of 6.238 billion yuan in 2024, representing a year-on-year increase of 12.5%, and a net profit attributable to shareholders of 1.156 billion yuan, up 60.1% year-on-year [3][5] - The company is positioned as a global leader in energy valves, making progress in technology innovation, product performance, quality control, and service capabilities [5] - The ongoing global energy transition and the Belt and Road Initiative are expected to provide continuous opportunities for the company in both domestic and international markets [5] Financial Performance Summary - In 2024, the company reported a revenue of 6.238 billion yuan, a 12.5% increase from the previous year, and a net profit of 1.156 billion yuan, reflecting a 60.1% growth [3][7] - The company forecasts net profits of 1.289 billion yuan, 1.449 billion yuan, and 1.637 billion yuan for 2025, 2026, and 2027 respectively, with corresponding P/E ratios of 15.7, 14.0, and 12.4 [5][7] - The company plans to maintain robust growth in its main valve and component business while achieving rapid growth in castings and forgings, with an expected increase in gross margin as high-end products continue to break through [5][7] Market Position and Competitive Landscape - The company has successfully broken the monopoly of foreign brands in the domestic high-end market by obtaining domestic certification for multiple products and achieving breakthroughs in emerging fields such as nuclear power, hydrogen energy, and energy storage [5] - The company is actively expanding its overseas market presence, benefiting from the rising investment climate in traditional and new energy sectors along the Belt and Road Initiative [5] Earnings Forecast Summary - The company is expected to continue increasing its R&D investment while expanding in traditional sectors and achieving breakthroughs in nuclear power, shipbuilding, deep-sea, fine chemicals, and energy storage [5][7] - The projected revenue growth rates for 2025, 2026, and 2027 are 14.99%, 11.01%, and 10.05% respectively, with net profit growth rates of 11.59%, 12.36%, and 13.01% [7][10]

Core Insights - Niuwei Co., Ltd. reported its best annual performance for 2024, achieving a revenue of 6.238 billion yuan, a year-on-year increase of 12.5%, and a net profit of 1.156 billion yuan, up 60.1% [1] - The company attributed its growth to increased sales revenue and the resulting economies of scale [1] Financial Performance - The company's core product, valves and parts, generated a revenue of 6.072 billion yuan in 2024, representing a year-on-year growth of 13.69% with a gross margin of 39.01%, an increase of 6.79 percentage points compared to 2023 [1] - Niuwei's operating cash flow significantly increased, reaching 1.112 billion yuan in 2024, a growth of 74.5% [2] - The company maintained a stable financial position with a debt-to-asset ratio of 49.31%, the lowest in four years, and cash on hand of 1.441 billion yuan [2] Dividend Policy - Niuwei announced a cash dividend of 11.4 yuan per 10 shares (including tax), resulting in a dividend yield of 4.67% based on the closing price of 24.43 yuan per share on April 22 [3] - The total cash dividend for 2024 exceeded 1.165 billion yuan, accounting for 100.84% of the company's net profit [3] - Since its listing, Niuwei has distributed a total of 4.148 billion yuan in cash dividends [3]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - In 2024, the company achieved total revenue of 6.2 billion yuan, a year-on-year increase of 13%, and a net profit attributable to shareholders of 1.16 billion yuan, up 60% year-on-year, with non-recurring net profit at 1.14 billion yuan, increasing by 53% [2] - The company reported a significant increase in gross margin to 38.10%, up 6.7 percentage points year-on-year, with a net profit margin of 18.7%, up 5.5 percentage points year-on-year [3] - The outlook for 2025 indicates stable growth in orders and performance, driven by geopolitical factors and increased investment in the oil and gas industry, particularly in the Middle East [4] Summary by Sections Financial Performance - Total revenue for 2023 was 5.54 billion yuan, projected to grow to 6.24 billion yuan in 2024, with a year-on-year growth rate of 12.50% [1] - The net profit attributable to shareholders for 2023 was 721.80 million yuan, expected to rise to 1.16 billion yuan in 2024, reflecting a growth rate of 60.10% [1] - The earnings per share (EPS) is projected to increase from 0.94 yuan in 2023 to 1.50 yuan in 2024 [1] Revenue Breakdown - In Q4, the company achieved total revenue of 1.78 billion yuan, a year-on-year increase of 37%, with net profit of 330 million yuan, up 146% year-on-year [2] - Revenue from exports reached 3.8 billion yuan, a 26% increase, accounting for 61% of total revenue, while domestic sales decreased by 3% to 2.4 billion yuan [2] Profitability Metrics - The sales gross margin for 2024 is projected at 38.10%, with a net profit margin of 18.7% [3] - The company’s cost control remains stable, with a total expense ratio of 13.1%, down 0.7 percentage points year-on-year [3] Market Outlook - The company is expected to benefit from high visibility in demand from the Middle East and strategic capacity expansion in new products [4] - Major clients such as Saudi Aramco and ADNOC are expected to contribute to significant order growth [4]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a strong expectation for future stock performance [1][10]. Core Views - The company achieved a total revenue of 6.2 billion yuan in 2024, representing a year-on-year growth of 13%, with a net profit attributable to shareholders of 1.16 billion yuan, up 60% year-on-year [2][10]. - The company reported a significant increase in Q4 revenue, with a 37% year-on-year growth, driven by overseas markets and expansion into emerging sectors [2]. - The company’s gross profit margin improved significantly to 38.1%, up 6.7 percentage points year-on-year, benefiting from structural optimization and lower steel prices [3]. - The outlook for 2025 is positive, with expectations of continued order growth and stable performance, particularly in the Middle East and emerging sectors like nuclear power and water treatment [4]. Financial Performance Summary - Total revenue projections for the company are as follows: 5.54 billion yuan in 2023, 6.24 billion yuan in 2024, and expected growth to 10.42 billion yuan by 2027, with a compound annual growth rate of approximately 17.32% [1][11]. - The net profit attributable to shareholders is projected to grow from 721.8 million yuan in 2023 to 2.06 billion yuan by 2027, reflecting a robust growth trajectory [1][11]. - The earnings per share (EPS) are expected to increase from 0.94 yuan in 2023 to 2.69 yuan in 2027, indicating strong profitability growth [1][11].