Investment Rating - The investment rating for the company is "Buy" (maintained) [1][9] Core Views - The company reported a 28% year-on-year increase in net profit attributable to shareholders in Q2, aligning with expectations, and demonstrated strong performance in orders and cash flow [2] - In the first half of 2025, the company achieved total revenue of 3.4 billion yuan, a 20% year-on-year increase, and a net profit of 640 million yuan, reflecting a 30% year-on-year growth [2] - The growth is attributed to increased investment in the oil and gas industry in the Middle East, sustained high demand for oil service equipment, and strong orders from major clients like Saudi Aramco and ADNOC [2] - The company has a robust order backlog, with contract liabilities of 500 million yuan in the first half of 2025, a 123% year-on-year increase, and a net cash ratio of 1.4, showing improvement [2] Financial Performance - The company maintained a high gross margin of 35.8% in the first half of 2025, with a net profit margin of 18.9%, reflecting a year-on-year increase of 1.5 percentage points [3] - The company’s expense ratio decreased to 12.0%, benefiting from economies of scale and improved operational efficiency [3] - The company launched a stock incentive plan in July 2025, aimed at motivating key employees and demonstrating confidence in long-term growth [4] Financial Forecasts - The company’s revenue is projected to grow from 6.238 billion yuan in 2024 to 10.423 billion yuan in 2027, with a compound annual growth rate of approximately 17.32% [1][10] - Net profit attributable to shareholders is expected to increase from 1.156 billion yuan in 2024 to 2.064 billion yuan in 2027, with a compound annual growth rate of approximately 16.62% [1][10] - The latest diluted EPS is forecasted to rise from 1.50 yuan in 2024 to 2.69 yuan in 2027 [1][10]

Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2025, indicating strong financial performance [2] Financial Performance - The company achieved operating revenue of 3,404,288,234.56 yuan, representing a year-on-year growth of 19.96% [2] - The net profit attributable to shareholders of the listed company was 636,597,878.46 yuan, reflecting a year-on-year increase of 30.44% [2]

Core Viewpoint - The announcement from Nuwai Co., Ltd. regarding the approval of the 2025 semi-annual report and summary by the board of directors highlights the company's ongoing commitment to transparency and governance [2] Group 1 - Nuwai Co., Ltd. held the 31st meeting of its fifth board of directors on August 21, where multiple proposals were reviewed and approved [2] - The key agenda included the discussion and approval of the 2025 semi-annual report and its summary [2]

证券日报网讯 8月21日晚间，纽威股份发布公告称，公司第五届监事会第二十四次会议审议通过了《关 于公司2025年半年度报告及摘要的议案》等多项议案。 （文章来源：证券日报） ...

Core Viewpoint - The company, Niuwei Co., announced a profit distribution plan for the mid-term of 2025, proposing a cash dividend of 5.80 yuan per 10 shares to all shareholders, which reflects a significant return to investors [1] Summary by Relevant Sections - **Dividend Distribution** The company plans to distribute a cash dividend of 5.80 yuan (including tax) for every 10 shares held by shareholders [1] - **Total Shares and Dividend Amount** As of June 30, 2025, the total share capital of the company is 768,573,661 shares, leading to a total proposed cash dividend distribution of 445,772,723.38 yuan (including tax) [1] - **Net Profit Allocation** The proposed dividend distribution accounts for 70.02% of the net profit attributable to the parent company as per the consolidated financial statements [1]

公司上市以来历次分配方案一览 | 日期 | 分配方案 | 派现金额合计（亿元） | 股息率（%） | | --- | --- | --- | --- | | 2025.06.30 | 10派5.8元（含税） | 4.46 | 2.14 | | 2024.12.31 | 10派11.4元（含税） | 8.76 | 6.06 | | 2024.06.30 | 10派3.8元（含税） | 2.89 | 2.25 | | 2023.12.31 | 10派5.2元（含税） | 3.95 | 3.82 | | 2022.12.31 | 10派3.6元（含税） | 2.70 | 3.78 | | 2021.12.31 | 10派2.5元（含税） | 1.87 | 2.18 | | 2020.12.31 | 10派4.6元（含税） | 3.45 | 3.16 | | 2019.12.31 | 10派4元（含税） | 2.98 | 3.22 | | 2018.12.31 | 10派6.7元（含税） | 4.98 | 4.38 | | 2017.12.31 | 10派1.6元（含税） | 1.20 | 0.94 | | 2016 ...

Group 1 - Xiamen Tungsten's revenue for the first half of 2025 reached 19.178 billion yuan, an increase of 11.75% year-on-year [1] - Xiamen Tungsten's net profit attributable to shareholders decreased by 4.37% year-on-year to 972 million yuan [1] - Xiamen Tungsten plans to distribute a cash dividend of 1.84 yuan per 10 shares [1] Group 2 - Sinopec's revenue for the first half of 2025 was 1.41 trillion yuan, a decrease of 10.6% year-on-year [1][2] - Sinopec's net profit attributable to shareholders fell by 39.8% year-on-year to 21.483 billion yuan [1][2] - Sinopec's basic earnings per share were 0.177 yuan [1] Group 3 - Xinhua Department Store's revenue for the first half of 2025 was 3.254 billion yuan, a decrease of 0.99% year-on-year [3][4] - Xinhua Department Store's net profit attributable to shareholders decreased by 2.52% year-on-year to 86.08 million yuan [3][4] - Xinhua Department Store plans to distribute a cash dividend of 1 yuan per 10 shares [3] Group 4 - Huaqin Technology's revenue for the first half of 2025 reached 516 million yuan, an increase of 6.44% year-on-year [5][6] - Huaqin Technology's net profit attributable to shareholders decreased by 32.45% year-on-year to 146 million yuan [5][6] - Huaqin Technology plans to distribute a cash dividend of 1.3 yuan per 10 shares [5] Group 5 - Tianhao Energy's revenue for the first half of 2025 was 1.372 billion yuan, a decrease of 32.15% year-on-year [7] - Tianhao Energy's net profit attributable to shareholders decreased by 32.08% year-on-year to 69.01 million yuan [7] - Tianhao Energy's basic earnings per share were 0.0798 yuan [7] Group 6 - Wanliyang's revenue for the first half of 2025 reached 2.812 billion yuan, an increase of 2.69% year-on-year [8][9] - Wanliyang's net profit attributable to shareholders increased by 50.24% year-on-year to 277 million yuan [8][9] - Wanliyang's basic earnings per share were 0.21 yuan [8] Group 7 - Kede CNC's revenue for the first half of 2025 was 295 million yuan, an increase of 15.24% year-on-year [10] - Kede CNC's net profit attributable to shareholders increased by 1.27% year-on-year to 49.06 million yuan [10] - Kede CNC's basic earnings per share were 0.4582 yuan [10] Group 8 - Saifutian's revenue for the first half of 2025 reached 1.06 billion yuan, an increase of 62.41% year-on-year [11] - Saifutian achieved a net profit of 3.08 million yuan, recovering from a loss of 12.49 million yuan in the previous year [11] - Saifutian's basic earnings per share were 0.01 yuan [11] Group 9 - Funeng's revenue for the first half of 2025 was 6.369 billion yuan, a decrease of 4.44% year-on-year [13][14] - Funeng's net profit attributable to shareholders increased by 12.48% year-on-year to 1.337 billion yuan [13][14] - Funeng plans to distribute a cash dividend of 0.73 yuan per 10 shares [13] Group 10 - Ningbo Shipping reported a net loss of 39.23 million yuan for the first half of 2025 [15][16] - Ningbo Shipping's revenue for the first half of 2025 was 1.157 billion yuan, an increase of 11.33% year-on-year [15][16] - Ningbo Shipping's basic earnings per share were a loss of 0.0325 yuan [15] Group 11 - Samsung Medical's revenue for the first half of 2025 reached 7.972 billion yuan, an increase of 13.93% year-on-year [17][18] - Samsung Medical's net profit attributable to shareholders increased by 6.93% year-on-year to 1.23 billion yuan [17][18] - Samsung Medical plans to distribute a cash dividend of 4.85 yuan per 10 shares [17] Group 12 - Huiding Technology's revenue for the first half of 2025 was 2.251 billion yuan, a decrease of 0.20% year-on-year [20] - Huiding Technology's net profit attributable to shareholders increased by 35.74% year-on-year to 431 million yuan [20] - Huiding Technology plans to distribute a cash dividend of 0.15 yuan per share [20] Group 13 - Baihua Pharmaceutical's revenue for the first half of 2025 reached 202 million yuan, an increase of 2.95% year-on-year [21] - Baihua Pharmaceutical's net profit attributable to shareholders increased by 12.45% year-on-year to 25.48 million yuan [21] - Baihua Pharmaceutical's basic earnings per share were 0.0663 yuan [21] Group 14 - Stanley's revenue for the first half of 2025 was 6.391 billion yuan, an increase of 12.66% year-on-year [22][23] - Stanley's net profit attributable to shareholders increased by 18.9% year-on-year to 607 million yuan [22][23] - Stanley plans to distribute a cash dividend of 0.45 yuan per 10 shares [22] Group 15 - Duoli Technology's revenue for the first half of 2025 reached 1.734 billion yuan, an increase of 13.15% year-on-year [24] - Duoli Technology's net profit attributable to shareholders decreased by 28.13% year-on-year to 157 million yuan [24] - Duoli Technology's basic earnings per share were 0.51 yuan [24] Group 16 - Datang Telecom reported a net loss of 81.17 million yuan for the first half of 2025 [25][26] - Datang Telecom's revenue for the first half of 2025 was 275 million yuan, a decrease of 3.32% year-on-year [25][26] - Datang Telecom's basic earnings per share were a loss of 0.0623 yuan [25] Group 17 - Niuwei Co.'s revenue for the first half of 2025 reached 3.404 billion yuan, an increase of 19.96% year-on-year [27][28] - Niuwei Co.'s net profit attributable to shareholders increased by 30.44% year-on-year to 637 million yuan [27][28] - Niuwei Co. plans to distribute a cash dividend of 5.8 yuan per 10 shares [27] Group 18 - ST Zhiyun reported a net loss of 106 million yuan for the first half of 2025 [29][30] - ST Zhiyun's revenue for the first half of 2025 was 89.13 million yuan, a decrease of 63.59% year-on-year [29][30] - ST Zhiyun's basic earnings per share were a loss of 0.37 yuan [29] Group 19 - Huace Testing's revenue for the first half of 2025 reached 2.96 billion yuan, an increase of 6.05% year-on-year [31] - Huace Testing's net profit attributable to shareholders increased by 7.03% year-on-year to 467 million yuan [31] - Huace Testing plans to distribute a cash dividend of 0.5 yuan per 10 shares [31] Group 20 - Taixiang's revenue for the first half of 2025 was 219 million yuan, an increase of 6.57% year-on-year [32] - Taixiang's net profit attributable to shareholders increased by 16.12% year-on-year to 25.30 million yuan [32] - Taixiang's basic earnings per share were 0.2533 yuan [32] Group 21 - Huayi Technology applied for a credit line of up to 165 million yuan from HSBC [33][34] - Huayi Technology will use real estate as collateral for the credit line [33][34] Group 22 - Hengong Precision plans to use up to 70 million yuan of idle raised funds for cash management [35][36] - Hengong Precision will invest in high-security, high-liquidity products with a term not exceeding 12 months [35][36] Group 23 - Tianhe's financial assistance to its associate company has not been repaid [37] - Tianhe provided 243,200 yuan in financial assistance to its associate company [37] Group 24 - Spring and Autumn Electronics' revenue for the first half of 2025 reached 1.926 billion yuan, an increase of 2.62% year-on-year [38] - Spring and Autumn Electronics' net profit attributable to shareholders increased by 248.44% year-on-year to 93.31 million yuan [38] - Spring and Autumn Electronics' basic earnings per share were 0.21 yuan [38] Group 25 - Kingsoft Office's revenue for the first half of 2025 was 2.657 billion yuan, an increase of 10.12% year-on-year [39][40] - Kingsoft Office's net profit attributable to shareholders increased by 3.57% year-on-year to 747 million yuan [39][40] Group 26 - Yanjinpuzi's revenue for the first half of 2025 reached 2.941 billion yuan, an increase of 19.58% year-on-year [41] - Yanjinpuzi's net profit attributable to shareholders increased by 16.70% year-on-year to 373 million yuan [41] Group 27 - Muyuan's revenue for the first half of 2025 was 76.463 billion yuan, an increase of 34.46% year-on-year [43][44] - Muyuan's net profit attributable to shareholders increased by 1169.77% year-on-year to 10.53 billion yuan [43][44] - Muyuan plans to distribute a cash dividend of 9.32 yuan per 10 shares [43][44] Group 28 - Tianwei Food is planning to issue H-shares and apply for listing on the Hong Kong Stock Exchange [45][46] Group 29 - Alloy Investment's shareholder plans to reduce their stake by no more than 3% [47] - Alloy Investment's shareholder plans to sell up to 11.5531 million shares [47] Group 30 - Rongzhi Rixin's controlling shareholder plans to reduce their stake by no more than 3% [48] - Rongzhi Rixin's controlling shareholder plans to sell up to 1.2318 million shares [48] Group 31 - Yijiahe's shareholders plan to reduce their stake by no more than 2% [49] - Yijiahe's shareholders plan to sell up to 409.72 million shares [49] Group 32 - Dongfeng Group adjusted the upper limit of its share repurchase price to 6.28 yuan per share [50] Group 33 - Jingu's revenue for the first half of 2025 reached 2.123 billion yuan, an increase of 10.04% year-on-year [51] - Jingu's net profit attributable to shareholders increased by 45.36% year-on-year to 30.27 million yuan [51] Group 34 - Yibai Pharmaceutical reported a net loss of 19.9 million yuan for the first half of 2025 [52] - Yibai Pharmaceutical's revenue for the first half of 2025 was 999 million yuan, a decrease of 14.99% year-on-year [52] Group 35 - Yonghui Supermarket reported a net loss of 241 million yuan for the first half of 2025 [53] - Yonghui Supermarket's revenue for the first half of 2025 was 29.948 billion yuan, a decrease of 20.73% year-on-year [53] Group 36 - Suotong Development's net profit increased by 1568.52% year-on-year to 523 million yuan [54] - Suotong Development's revenue for the first half of 2025 was 8.306 billion yuan, an increase of 28.28% year-on-year [54]

Core Viewpoint - Niuwei Co., Ltd. (603699.SH) reported a strong performance in the first half of 2025, with significant growth in both revenue and net profit [1] Financial Performance - The company achieved an operating revenue of 3.404 billion yuan, representing a year-on-year increase of 19.96% [1] - The net profit attributable to shareholders reached 637 million yuan, marking a year-on-year growth of 30.44% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 615 million yuan, reflecting a year-on-year increase of 27.37% [1] - Basic earnings per share were reported at 0.83 yuan [1]

Core Viewpoint - Nuwei Co., Ltd. (603699) reported strong financial performance for the first half of 2025, with significant growth in revenue and net profit, indicating a positive outlook for the company and its operations in the nuclear valve sector [1] Financial Performance - The company achieved operating revenue of 3.404 billion RMB, representing a year-on-year increase of 19.96% [1] - The net profit attributable to shareholders reached 637 million RMB, reflecting a year-on-year growth of 30.44% [1] - Basic earnings per share were reported at 0.83 RMB [1] Dividend Distribution - The company plans to distribute a cash dividend of 5.8 RMB (including tax) for every 10 shares to all shareholders [1] Operational Highlights - Nuwei Co., Ltd. set a new record for the delivery volume of nuclear-grade valves in the first half of 2025 [1] - The company anticipates further enhancement of nuclear valve production capacity with the launch of its intelligent manufacturing production line in the second half of 2025 [1]

证券代码：603699 证券简称：纽威股份 公告编号：临 2025-056 苏州纽威阀门股份有限公司 第五届监事会第二十四次会议决议的公告 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（以下简称"公司"）第五届监事会第二十四次会 议于 2025 年 08 月 11 日以电子邮件、电话通知的方式发出会议通知，于 2025 年 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： 表决结果：同意 3 票，反对 0 票，弃权 0 票。 议案》； 表决结果：同意 3 票，反对 0 票，弃权 0 票。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 监事会 特此公告。 苏州纽威阀门股份有限公司 ...