Group 1 - The core point of the article is that Nuwai Co., Ltd. (SH 603699) held its first board meeting of the sixth session on December 24, 2025, to discuss the appointment of senior management personnel [1] - For the year 2024, Nuwai's revenue composition is reported to be 99.29% from industrial valves and 0.71% from other businesses [1] - As of the report, Nuwai's market capitalization stands at 39.6 billion yuan [1]

证券代码：603699 证券简称：纽威股份 公告编号：临 2025-102 苏州纽威阀门股份有限公司 关于董事会完成换届选举 及聘任高级管理人员的公告 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。 苏州纽威阀门股份有限公司（以下简称"公司"）于 2025 年 12 月 24 日召开 了 2025 年第六次临时股东会，审议通过了《关于选举董事的议案》《关于选举独 立董事的议案》。同日，公司召开了第六届董事会第一次会议，审议通过了《关 于选举公司第六届董事会董事长的议案》《关于选举公司第六届董事会专门委员 会委员的议案》《关于聘任公司高级管理人员的议案》。现将公司董事会换届选举 以及聘任高级管理人员具体情况公告如下： 一、公司第六届董事会组成情况 公司第六届董事会成员：鲁良锋先生、黎娜女士、冯银龙先生、高则伟先生、 周桂林先生、王世文先生、黄强先生、周玫芬女士、高钟先生。其中鲁良锋先生 担任公司董事长，高则伟先生、周桂林先生为职工董事，黄强先生、周玫芬女士、 高钟先生为独立董事。 董事会专门委员会组成如下： （1）鲁良锋先生、黎 ...

关于苏州纽威阀门股份有限公司 合 展 兆 丰 律 师 事 务 所 H&Z LAW FIRM 江苏合展兆丰律师事务所 2025 年第六次临时股东会的 法律意见书 苏兆证字（2025）第 1224 号 致：苏州纽威阀门股份有限公司 江苏合展兆丰律师事务所（以下简称"本所"）接受苏州纽威阀门股份有 限公司（以下简称"公司"）的委托，指派吴开征律师、郭新花律师（以下简 称"本所律师"）出席了公司 2025 年第六次临时股东会（以下简称"本次股东 会"）的现场会议，现本所根据《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"）、《上市公司股东大会 规则》等我国现行法律、法规以及《上海证券交易所上市公司股东大会网 络投票实施细则》等规范性文件和《苏州纽威阀门股份有限公司章程》（以 下简称"《公司章程》"）、上市公司股东大会规则的有关规定，就本次股东 会的有关事宜出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的有关文件及其复印 件，核对了其中相关文件的原件，并取得公司向本所作出的如下保证：公 司已向本所提供了出具本法律意见书所必须的、真实的、完整的原始书面 材料、 ...

证券代码：603699 证券简称：纽威股份 公告编号：临 2025-100 | 1、出席会议的股东和代理人人数 | 111 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 593,625,824 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 76.5449 | 苏州纽威阀门股份有限公司 2025年第六次临时股东会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 12 月 24 日 (二)股东会召开的地点：江苏省苏州市高新区泰山路 666 号会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： (四)表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次会议由公司董事长鲁良锋先生主持，本次会议的召集、召开程序符合《公 司法》及《公司章程》的规定，表决方式及表决结果合法、有效。 (五)公 ...

证券代码：603699 证券简称：纽威股份 公告编号：临 2025-101 苏州纽威阀门股份有限公司 第六届董事会第一次会议决议的公告 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。 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"）第六届董事会第一次会议于 2025 年 12 月 19 日以电子邮件、电话通知的方式发出会议通知，于 2025 年 12 月 24 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 9 名，实际参加董事 9 名。会议由鲁良锋先生主持，公司董事会秘书及其他高级 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《关于选举公司第六届董事会董事长的议案》； 根据《公司法》和《公司章程》的有关规定，选举鲁良锋先生为公司第六届 董事会董事长，任期自本次董事会审议通过之日起至第六届董事会任期届满之日 止。 ...

Group 1 - The core viewpoint of the news is that Nuwai Co., Ltd. has shown significant financial performance and trading activity, with a notable increase in stock price and trading volume on December 22 [1] - On December 22, Nuwai's stock price increased by 2.54%, with a trading volume of 274 million yuan, and a net financing purchase of 4.97 million yuan [1] - As of December 22, the total margin balance for Nuwai was 146 million yuan, with a financing balance of 144 million yuan, representing 0.38% of the circulating market value, indicating a high level of financing activity [1] Group 2 - As of September 30, Nuwai reported a total revenue of 5.603 billion yuan for the first nine months of 2025, reflecting a year-on-year growth of 25.76%, and a net profit attributable to shareholders of 1.114 billion yuan, up 34.54% year-on-year [2] - The number of shareholders for Nuwai increased by 10.65% to 13,800, while the average circulating shares per person decreased by 9.63% to 54,711 shares [2] - Nuwai has distributed a total of 4.598 billion yuan in dividends since its A-share listing, with 2.280 billion yuan distributed in the last three years [3]

Core Viewpoint - The announcement details the pledge of shares by the controlling shareholder of Suzhou Neway Valve Co., Ltd., indicating a total of 4.65 million shares pledged, which represents 0.60% of the company's total share capital [3][4]. Group 1: Shareholding Structure - As of the announcement date, the total share capital of Suzhou Neway Valve Co., Ltd. is 775,526,127 shares, with the controlling shareholders and their concerted actions holding a total of 486,259,648 shares, accounting for 62.70% of the total share capital [2]. - The common actual controllers of Neway Group are Mr. Wang Baoqing, Mr. Lu Bin, Mr. Cheng Zhangwen, and Mr. Xi Chao, with specific private equity funds having individual ultimate beneficiaries [2]. Group 2: Share Pledge Details - Mr. Wang Baoqing has pledged 4.65 million shares, which is 3.83% of his total holdings and 0.96% of the shares held by the controlling shareholders and their concerted actions [3][4]. - The pledged shares are used for financing guarantees with the Industrial and Commercial Bank of China, and the pledge registration has been completed [4]. Group 3: Future Pledge Status - Neway Group has no pledged shares, and Mr. Wang Baoqing has no shares maturing in the next six months to one year [5][6]. - Other controlling shareholders and their concerted actions, including Mr. Lu Bin, Mr. Xi Chao, and Mr. Cheng Zhangwen, also have no pledged shares [7][8]. Group 4: Financial Health and Impact - The controlling shareholders and their concerted actions have a good credit status and repayment ability, with repayment sources primarily from company dividends and investment income [8]. - The share pledge is not expected to impact the company's operations or governance, nor will it lead to a change in actual control [8].

Group 1 - The core point of the article is that Nuwei Co., Ltd. announced that its controlling shareholder and actual controller, along with their concerted actions, hold approximately 486 million shares, accounting for 62.7% of the total share capital of the company [1] - After the recent share pledge, Mr. Wang Baoqing has pledged a total of 4.65 million shares, which represents 3.83% of his total shareholding, 0.96% of the shares held by the controlling shareholder and its concerted actions, and 0.6% of the total share capital of the company [1] - As of the report date, Nuwei Co., Ltd. has a market capitalization of 39.2 billion yuan [1] Group 2 - For the year 2024, the revenue composition of Nuwei Co., Ltd. is projected to be 99.29% from industrial valves and 0.71% from other businesses [1] - The article also highlights a significant increase in sales of new energy heavy trucks, with November sales experiencing a year-on-year growth of 178%, indicating a strong demand in the market [1]

证券代码：603699 证券简称：纽威股份 公告编号：临 2025-099 苏州纽威阀门股份有限公司 关于控股股东部分股份质押的公告 本公司董事会、全体董事及相关股东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: 截至本公告日，苏州纽威阀门股份有限公司（以下简称"公司"）总股本 为 775,526,127 股，控股股东、实际控制人及其一致行动人持股情况如下： | 股东名称 | 持股数量（股） | 持股比例 | | --- | --- | --- | | 王保庆 | 121,564,912 | 15.68% | | 程章文 | 121,564,912 | 15.68% | | 陆斌 | 83,545,482 | 10.77% | | 席超 | 83,545,482 | 10.77% | | 北京恒德时代私募基金管理有限公司－ 注 1 恒德智信 20 号私募证券投资基金 | 38,019,430 | 4.90% | | 北京恒德时代私募基金管理有限公司－ 2 恒德远征金锐 号私募证券投资基金注 1 | 38,019,430 | 4.90 ...

Summary of Nuwei Co., Ltd. Conference Call Company Overview - Nuwei Co., Ltd. is transitioning from an oil and gas valve supplier to a player in the natural gas sector, with natural gas business growth reaching 33% of total revenue [2][16] - The company is expanding into the power and water treatment markets through platform-based strategies and acquisitions [2][5] Key Points and Arguments Industry Dynamics - The Middle East is undergoing an energy transition, moving from oil to natural gas, which presents significant opportunities for Nuwei [3][20] - Nuwei's orders are primarily driven by the oil and gas sector, with downstream oil and gas lines accounting for 70% of total orders, and gas orders growing at over 50% [12][16] Financial Performance - Nuwei's current valuation is at 16 times earnings, with an expected 40% growth in performance for 2026, making it attractive compared to other A-share companies [3] - The company has experienced a 20% stock price adjustment recently, raising concerns about natural gas prices due to geopolitical factors, but Nuwei's growth is primarily from the Middle East [3][25] Growth Drivers - Future growth will be supported by low operating leverage, a simple ownership structure, and a young, capable management team [4][9] - Capital expenditures are largely complete, and as depreciation decreases, profits are expected to increase, with revenue growth projected at 30% and profit growth at 40% for 2026 [4][25] Competitive Advantages - Nuwei has strong export capabilities, particularly in the Middle East, and a wealth of overseas sales experience [6] - The management team is innovative and experienced, which is crucial for the company's expansion into new markets [6][10] Market Opportunities - The company is focusing on high-end water valves and power valves, particularly in seawater desalination and AIDC (Automatic Identification and Data Capture) [2][8][23] - The demand for natural gas in the Middle East and the U.S. is robust, providing significant growth potential [8][21] Additional Insights Order Structure and Growth - Nuwei's order growth is approximately 32% year-to-date, with a significant increase in gas-related orders [12][16] - The company is well-positioned to capture market share from leading international firms like Saudi Aramco and ADNOC [5][8] Challenges and Risks - Chinese companies face challenges in the Middle East, such as long certification cycles and disproportionate investment returns, but the expanding capital expenditure in the region offers growth opportunities [18][19] Future Trends - The valve industry is characterized by a few large players, with Emerson holding about 4% market share; future growth will likely come from acquisitions and high-end applications [17] - The Middle East is expected to shift its energy structure, reducing oil-fired power generation and increasing natural gas usage [21] Financial Outlook - Nuwei's financial health is strong, with a fixed asset balance of 500 million yuan and annual depreciation exceeding 100 million yuan, leading to increased profits as depreciation declines [25] - The company anticipates a "Davis Double" effect, where both valuation and profit growth occur simultaneously, potentially reaching a market cap of 60 billion yuan by achieving 2.2 billion yuan in profits at a 25x P/E ratio [25]