证券代码：603699 证券简称：纽威股份 公告编号：临 2024-085 苏州纽威阀门股份有限公司 第五届监事会第十七次会议决议公告 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个别及连带责任。 苏州纽威阀门股份有限公司（以下简称"公司"）第五届监事会第十七次会议 于 2024 年 10 月 31 日以现场结合通讯表决方式召开，本次会议应到监事 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）审议《关于调整 2024 年限制性股票激励计划授予价格的议案》。 监事会认为：鉴于公司 2024 年半年度利润分配方案已实施完毕，每股派发 现金红利 0.38 元（含税），根据公司 2024 年第五次临时股东大会的授权，董事 会同意将 2024 年限制性股票激励计划的授予价格由 10.88 元/股调整为 10.50 元/ 股。本次授予价格的调整符合《上市公司股权激励管理办法》（以下简称"《管理 办法》"）等相关法律、法规的规定，不存在损害股东利益的情形。 ...

苏州纽威阀门股份有限公司 监事会关于公司 2024 年限制性股票激励计划 激励对象名单（授予日）的核查意见 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个别及连带责任。 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国 证券法》（以下简称"《证券法》"）、《上市公司股权激励管理办法》（以下简称"《管 理办法》"）以及《公司章程》等有关法律法规及规范性文件的规定，苏州纽威阀 门股份有限公司（以下简称"公司"）监事会对公司本次限制性股票激励计划授 予日的激励对象名单进行审核。现发表核查意见如下： 1、本激励计划激励对象人员名单与公司 2024 年第五次临时股东大会审议通 过的《苏州纽威阀门股份有限公司 2024 年限制性股票激励计划（草案）》中规定 的激励对象一致。 （4）具有《公司法》规定的不得担任公司董事、高级管理人员情形的； （5）法律法规规定不得参与上市公司股权激励的； 1 （6）中国证监会认定的其他情形。 综上，监事会认为本次激励计划激励对象具备《公司法》、《证券法》等法律、 法规和规范性文件以及《公司章 ...

苏州纽威阀门股份有限公司（以下简称"公司"）第五届董事会第十二次会 议、2023 年年度股东大会审议通过了《关于使用部分闲置募集资金及自有资金 购买理财产品的议案》，在确保不影响募集资金项目建设、生产经营过程中对募 集资金及自有资金使用的情况下，公司及公司子公司拟使用合计不超过 7 亿元人 民币闲置募集资金及自有资金购买理财产品。其中闲置募集资金总额度不超过 1 亿元人民币（含本数）购买最长不超过 1 年（含 1 年）的低风险、流动性高的理 财产品；自有资金总额度不超过 6 亿元人民币（含本数）购买最长不超过 1 年（含 1 年）的理财产品。所购理财产品的发行主体仅为银行、证券公司或信托公司等 金融机构。以上资金额度在决议有效期内可以滚动使用。详见本公司于上海证券 交易所网站(www.sse.com.cn)披露的《苏州纽威阀门股份有限公司关于使用部分 闲置募集资金及自有资金购买理财产品的公告》）（临 2024-024）。 公司监事会、保荐机构已分别对此发表了同意的意见。 证券代码：603699 证券简称：纽威股份 公告编号：临 2024-087 苏州纽威阀门股份有限公司 关于使用部分闲置募集资金 进行委托理财 ...

苏州纽威阀门股份有限公司 2024 年限制性股票激励计划首次授予激励对象名单 （授予日） | | | | | | 占本激励 | | --- | --- | --- | --- | --- | --- | | | | | 获授的限制 | 占本激励计划授 | 计划公告 | | 序号 | 姓名 | 职务 | 性股票数量 | 予限制性股票总 | 时公司股 | | | | | （万股） | 数的比例 | 本总额的 | | | | | | | 比例 | | 1 | 鲁良锋 | 董事长 | 82.59 | 6.72% | 0.11% | | 2 | 冯银龙 | 董事，总经理 | 80.00 | 6.51% | 0.11% | | 3 | 陆建红 | 副总经理 | 57.12 | 4.65% | 0.08% | | 4 | 庄益军 | 副总经理 | 43.80 | 3.56% | 0.06% | | 5 | 程学来 | 副总经理 | 32.57 | 2.65% | 0.04% | | 6 | 陈斌 | 副总经理 | 29.39 | 2.39% | 0.04% | | 7 | 凌蕾菁 | 财务总监,董秘 | 26.12 | 2 ...

Investment Rating - The report assigns a "Buy" rating for Nuwei Co., Ltd. (603699.SH) for its overseas market expansion and improved profitability [1]. Core Views - Nuwei Co., Ltd. reported a revenue of 4.455 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 5.09%, while the net profit attributable to shareholders reached 828 million yuan, up 40.69% year-on-year [1]. - The company benefits from declining raw material prices, which have significantly boosted its gross profit margin, with a gross margin of 36.72% for the first three quarters of 2024, an increase of 5.78 percentage points year-on-year [1]. - Nuwei is expanding its precision casting capacity, with plans to invest 220 million yuan to increase production capacity, which is expected to enhance its market competitiveness [1][2]. Summary by Sections Financial Performance - For Q3 2024, Nuwei achieved a revenue of 1.617 billion yuan, a decrease of 10.98% year-on-year, while the net profit was 340 million yuan, an increase of 34.88% year-on-year [1]. - The company’s net profit growth is primarily attributed to changes in sales revenue and gross profit [1]. Market and Production Capacity - The company is actively expanding its precision casting capacity, with an expected annual output of 5,000 tons each for carbon steel and stainless steel precision castings, leading to an estimated annual output value of 260 million yuan [1]. - Nuwei is broadening its market reach into various downstream application industries, including oil and gas equipment, wind energy equipment, and petrochemical pressure vessels [1]. Cost Management and Profitability - Nuwei has effectively controlled its expense ratios, with a sales gross margin of 38.89% in Q3 2024, up 6.30 percentage points year-on-year, and a net profit margin of 21.08%, up 7.14 percentage points year-on-year [2]. - The company’s overall expense management remains strong, with a total expense ratio of 11.94%, a slight decrease of 0.29 percentage points year-on-year [2]. Earnings Forecast - The company is projected to achieve revenues of 6.524 billion yuan, 7.689 billion yuan, and 8.704 billion yuan for 2024, 2025, and 2026, respectively, with corresponding EPS of 1.20 yuan, 1.43 yuan, and 1.66 yuan [3]. - The current stock price corresponds to a PE ratio of 19.5, 16.4, and 14.1 for the years 2024, 2025, and 2026, respectively, supporting the "Buy" investment rating [3].

[Table_StockInfo] 2024 年 10 月 25 日 证券研究报告•2024 年三季报点评 买入 （维持） 当前价：23.23 元 纽威股份（603699）机械设备 目标价：——元（6 个月） 24Q3 业绩高增长，盈利能力再提升 [Table_Summary] 事件：公司发布 2024年三季报，2024Q1-Q3实现营收 44.6亿元，同比+5.1%； 实现归母净利润 8.3亿元，同比+40.7%；单 2024Q3实现营收 16.2亿元，同比 -11.0%，环比+9.4%；实现归母净利润 3.4亿元，同比+34.9%，环比+16.7%。 24Q3 业绩高增长，盈利能力显著提升。 产品结构优化、经营效率提升，公司盈利能力持续提高。2024Q1-Q3公司综合 毛利率为 36.7%，同比+5.8pp，毛利率提升主要系工业产品结构优化、2024年 以来钢材等原材料价格下降、公司优化生产流程等降本增效措施推进；净利率 为 18.7%，同比+4.3pp；期间费用率为 12.9%，同比+1.3pp；其中，销售、管 理、研发和财务费用率分别为 7.0%、3.8%、2.1%、0.01%，分别同比-0.05pp ...

Investment Rating - The report maintains an "Accumulate" rating for the company, with a target price adjusted to 29.04 CNY based on a 2024 PE of 22 times [4][9]. Core Views - The company is a leading player in the industrial valve sector, with a continuous increase in global market share. The downstream sectors such as oil and gas extraction, refining, marine engineering, LNG, nuclear power, and water treatment are experiencing high demand, indicating sustained growth potential for the company [3][4]. Financial Performance Summary - For the first three quarters of 2024, the company achieved a revenue of 4.455 billion CNY, representing a year-on-year increase of 5.09%. The net profit attributable to shareholders was 828 million CNY, up 40.69% year-on-year, while the net profit excluding non-recurring items was 816 million CNY, reflecting a 29.66% increase [4][5]. - In Q3 2024, the company reported a revenue of 1.62 billion CNY, down 10.98% year-on-year, primarily due to high shipment volumes and revenue recognition in Q3 2023. The net profit for Q3 was 340 million CNY, an increase of 34.88% year-on-year, driven by a significant improvement in gross margin [4][5]. Profitability and Market Position - The company's gross margin for Q3 2024 was 38.9%, an increase of 6.3 percentage points year-on-year, attributed to a higher proportion of overseas revenue, product structure upgrades, and declining raw material prices. The net profit margin for Q3 was 21.0%, up 7.1 percentage points year-on-year [4]. - The company’s domestic market share is approximately 2%, while its global market share stands at around 0.5%. The company is positioned as a leading domestic industrial valve brand expanding internationally, with over 65% of its revenue coming from overseas [4][5]. Future Outlook - The company has raised its EPS forecasts for 2024-2026 to 1.32 CNY, 1.59 CNY, and 1.89 CNY respectively, from previous estimates of 1.22 CNY, 1.42 CNY, and 1.71 CNY. The expected revenue growth rates for 2024, 2025, and 2026 are 6.2%, 20.3%, and 19.9% respectively [4][5].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company's revenue growth was impacted by a high base from the previous year, but profit growth exceeded expectations, with a 41% year-on-year increase in net profit attributable to shareholders for the first three quarters of 2024 [2] - The company achieved a significant improvement in gross margin, reaching 38.9% in Q3 2024, an increase of 6.3 percentage points year-on-year [3] - The new management team has been incentivized effectively, leading to accelerated business expansion and a focus on overseas markets, particularly benefiting from the "Belt and Road" initiative [4] Financial Performance Summary - For 2024, the company is projected to achieve total revenue of 61.81 billion yuan, a year-on-year increase of 11.48% [1] - The net profit attributable to shareholders is expected to reach 1,013.19 million yuan in 2024, reflecting a 40.37% year-on-year growth [1] - The earnings per share (EPS) is forecasted to be 1.33 yuan for 2024, with a price-to-earnings (P/E) ratio of 17.44 based on the current market price [1] Market Data - The closing price of the company's stock is 23.23 yuan, with a market capitalization of approximately 17.67 billion yuan [5] - The company has a price-to-book (P/B) ratio of 4.49 [5] Basic Data - The company's total assets are projected to reach 9.095 billion yuan by 2024, with a debt-to-asset ratio of 50.08% [6] - The company has a total share capital of 760.85 million shares [6]

证券代码：603699 证券简称：纽威股份 公告编号：临 2024-079 苏州纽威阀门股份有限公司 第五届董事会第十九次会议决议的公告 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个别及连带责任。 1 本议案提交董事会审议前，已经过公司第五届董事会审计委员会 2024 年度 第四次会议审议通过，委员一致同意将本议案提交董事会审议。 表决结果：7 票同意，0 票反对，0 票弃权。 具体内容详见上海证券交易所网站： http://www.sse.com.cn 。 特此公告。 苏州纽威阀门股份有限公司 董事会 2024 年 10 月 26 日 苏州纽威阀门股份有限公司（以下简称"公司"）第五届董事会第十九次会议 于 2024 年 10 月 25 日以现场结合通讯表决方式召开。本次会议应到董事 7 名， 亲自出席会议的董事 7 名。会议由董事长鲁良锋先生主持。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。 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、 审议并通过《关于公司 2024 年第三季度报 ...

证券代码：603699 证券简称：纽威股份 公告编号：临 2024-080 苏州纽威阀门股份有限公司 第五届监事会第十六次会议决议的公告 一、审议并通过《关于公司 2024 年第三季度报告的议案》； 表决结果：3 票同意，0 票反对，0 票弃权。 具体内容详见上海证券交易所网站： http://www.sse.com.cn 。 特此公告。 苏州纽威阀门股份有限公司 监事会 2024 年 10 月 26 日 1 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个别及连带责任。 苏州纽威阀门股份有限公司（以下简称"公司"）第五届监事会第十六次会议 于 2024 年 10 月 25 日以现场结合通讯表决方式召开，本次会议应到监事 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。 会议审议了以下议案： ...