证券代码：603699 证券简称：纽威股份 公告编号：临 2024-068 苏州纽威阀门股份有限公司 关于召开 2024 年半年度业绩说明会的公告 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。 重要内容提示： 本次投资者说明会以网络互动形式召开，公司将针对 2024 年半年度的经营 成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范 围内就投资者普遍关注的问题进行回答。 会议召开时间：2024 年 10 月 16 日(星期三) 上午 11:00-12:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 二、 说明会召开的时间、地点 （一） 会议召开时间：2024 年 10 月 16 日 上午 11:00-12:00 （二） 会议召开地点：上证路演中心 （三） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 10 月 09 日(星期三) 至 10 月 15 日(星期二)16:00 前登录上 证 ...

证券代码：603699 证券简称：纽威股份 公告编号：临 2024-069 苏州纽威阀门股份有限公司 关于使用部分闲置募集资金 进行委托理财到期赎回的公告 金额：人民币万元 | 序号 | 理财产品类型 | 实际投入金额 | 实际收回本金 | 实际收益 | 尚未收 回本金 金额 | | --- | --- | --- | --- | --- | --- | | 1 | 银行理财 | 6,600.00 | 6,600.00 | 48.07 | | | 2 | 银行理财 | 2,000.00 | 2,000.00 | 14.31 | | | 3 | 银行理财 | 6,000.00 | 6,000.00 | 45.75 | | | 4 | 银行理财 | 1,800.00 | 1,800.00 | 13.42 | | | 5 | 银行理财 | 2,000.00 | 2,000.00 | 21.16 | | | 6 | 银行理财 | 3,000.00 | 3,000.00 | 43.23 | | | 7 | 银行理财 | 1,500.00 | | | 1,500.00 | | 8 | 银行理财 | 1,600.00 | ...

Investment Rating - The report gives a "Buy" rating for the company, marking its first coverage [3][5][7]. Core Viewpoints - The company is positioned as a leading player in the domestic industrial valve market, benefiting from globalization, high-end product demand, and multiple downstream sectors [1][2]. - The industrial valve industry has a global market size projected to reach $134.7 billion by 2032, with a CAGR of 7.2% from 2023 [1][2]. - The company has shown strong financial growth, with a 5-year CAGR of 15% in revenue and 21% in net profit, alongside a geometric ROE of 17% [1][2][25]. Financial Summary - The company’s revenue for 2023 was 5.544 billion yuan, with a year-on-year growth of 36.6% [20]. - The net profit for 2023 was 722 million yuan, reflecting a 54.9% increase year-on-year [20]. - Forecasted net profits for 2024, 2025, and 2026 are 931 million yuan, 1.069 billion yuan, and 1.239 billion yuan, respectively, with growth rates of 29%, 15%, and 16% [3][4][7]. Market and Industry Analysis - The global industrial valve market reached $72.2 billion in 2023, with a 5.8% year-on-year growth [1][2]. - The domestic market size for industrial valves was $10.2 billion in 2023, growing by 5.6% [1][2]. - The competitive landscape is fragmented, with major players in high-end valves located in North America, Japan, and Germany, while many domestic manufacturers focus on low-end products [1][2]. Company Advantages - The company has a global presence with nearly 100 distributors across over 80 countries, enhancing its service capabilities [2]. - It has established a strong supply chain with multiple manufacturing facilities, ensuring innovation in valve technology and materials [2][21]. - The company has received various international certifications, allowing it to provide comprehensive solutions for mid to high-end valves [2][21]. Growth Potential - The company’s global market share is approximately 1%, indicating significant growth potential compared to leading competitors [2]. - The expected growth in downstream sectors such as oil and gas, marine engineering, and renewable energy is anticipated to drive demand for industrial valves [1][9][10].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company's 2023 restricted stock incentive plan has been successfully implemented, with a total of 11.33 million shares granted at a price of 7.33 CNY per share to executives and key personnel [2] - The new management team, characterized by younger executives, is expected to drive long-term growth through high compensation and stock incentives, aligning their interests with the company's development [3] - The new management has revitalized operations, with significant order growth in various sectors, including oil and gas, marine engineering, and water treatment, indicating a robust expansion strategy [3] - The company is actively exploring international markets, particularly in the Middle East and Africa, with substantial order increases in these regions [3] - Profit forecasts for 2024-2026 are maintained at 9.5 billion, 12.0 billion, and 14.8 billion CNY respectively, with corresponding valuations of 16, 12, and 10 times earnings [3] Financial Projections - Total revenue is projected to grow from 5,544 million CNY in 2023 to 9,422 million CNY in 2026, reflecting a compound annual growth rate (CAGR) of approximately 17.95% [1][8] - Net profit attributable to shareholders is expected to increase from 721.80 million CNY in 2023 to 1,479.99 million CNY in 2026, with a CAGR of about 23.64% [1][8] - The earnings per share (EPS) is forecasted to rise from 0.95 CNY in 2023 to 1.95 CNY in 2026 [1][8] Market Data - The closing price of the stock is 19.54 CNY, with a market capitalization of approximately 14.87 billion CNY [4] - The stock has a price-to-earnings (P/E) ratio of 20.60 based on the latest diluted EPS [9]

证券代码：603699 证券简称：纽威股份 公告编号：临 2024-067 苏州纽威阀门股份有限公司 关于 2023 年限制性股票激励计划 预留授予结果公告 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。 重要内容提示： 苏州纽威阀门股份有限公司（以下简称"公司"）于 2024 年 4 月 12 日召开了 第五届董事会第十二次会议、第五届监事会第十次会议，审议通过了《关于向 2023 年限制性股票激励计划激励对象预留授予限制性股票的议案》，公司监事 会对激励对象名单进行了核查并发表了同意的意见。根据公司 2023 年限制性股 票激励计划（以下简称"激励计划"）的规定和公司 2023 年第二次临时股东大会 授权，公司董事会已完成限制性股票的授予登记工作，限制性股票的授予登记情 况如下： （一）限制性股票预留授予的具体情况 1、预留授予日：2024 年 4 月 15 日。 2、预留授予数量：61.7303 万股。 3、股票来源：向激励对象定向发行公司 A 股普通股股票。 4、首次授予对象：为在公司（含子公司，下同）任职中层管 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company, Nuwei Co., Ltd., is a leading domestic industrial valve manufacturer benefiting from the expansion of Chinese EPC contractors into overseas markets, particularly in the oil service industry [2][3] - The company has a strong competitive edge due to its comprehensive product offerings across various downstream sectors, including oil and gas extraction, chemical, and marine engineering [2][3] Summary by Sections 1. Company Overview - Nuwei Co., Ltd. specializes in the design, manufacturing, and sales of valves, establishing itself as a leading industrial valve supplier in China since its inception [2][3] - The company has a diverse product range, including gate valves, globe valves, check valves, ball valves, butterfly valves, control valves, and nuclear valves, with over 5,000 specifications [2][3] 2. Market Dynamics - The industrial valve market is characterized by a fragmented competitive landscape, with significant growth driven by the oil and gas extraction and marine engineering sectors [2][3] - The company’s revenue is closely linked to the capital expenditure of major oil companies, which influences its profitability [2][3] 3. International Expansion - The deepening of the "Belt and Road" initiative has facilitated the overseas expansion of Chinese EPC contractors, creating new market opportunities for the company in the Middle East [2][3] - The company has established long-term partnerships with global energy giants, enhancing its market presence and customer loyalty [2][3] 4. Financial Performance - The report projects significant revenue growth, with total revenue expected to reach 6,869 million yuan in 2024, reflecting a year-on-year increase of 23.89% [1] - The net profit forecast for 2024 is set at 953.16 million yuan, indicating a 32.05% increase compared to the previous year [1] 5. Competitive Advantages - The company has a complete qualification and extensive experience in product safety applications, which are critical competitive advantages in the high-end market [2][3] - Nuwei Co., Ltd. has successfully integrated its supply chain, reducing the impact of raw material price fluctuations on profitability [2][3]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for the next six months [1]. Core Insights - The company reported a revenue of 2.84 billion yuan for the first half of 2024, representing a year-on-year increase of 17.1%, and a net profit attributable to shareholders of 490 million yuan, up 45.0% year-on-year [1]. - The business structure has been optimized, leading to significant improvements in profitability, with a gross margin of 35.5% and a net margin of 17.4% in the first half of 2024 [1]. - The company has successfully expanded its customer base and product offerings, enhancing its competitive position in the industrial valve market [2]. Summary by Sections Financial Performance - In Q2 2024, the company achieved a revenue of 1.48 billion yuan, a year-on-year increase of 11.1% and a quarter-on-quarter increase of 8.7%, with a net profit of 290 million yuan, up 22.2% year-on-year and 48.0% quarter-on-quarter [1]. - The comprehensive gross margin for H1 2024 was 35.5%, an increase of 5.8 percentage points year-on-year, while the net margin was 17.4%, up 3.3 percentage points year-on-year [1]. Business Development - The company has a diverse product range, including various types of valves and has achieved full coverage of API6D certification for key products [2]. - It has established deep collaborations with major players in the oil and gas sector, such as SHELL and TOTAL, and is expanding into clean energy projects [2]. Profit Forecast and Valuation - The company is projected to achieve net profits of 900 million yuan, 1.04 billion yuan, and 1.18 billion yuan for 2024, 2025, and 2026, respectively, with a compound annual growth rate of 18% [2]. - The current stock price corresponds to a price-to-earnings ratio of 16, 14, and 12 for the next three years [2].

证券代码：603699 证券简称：纽威股份 公告编号：临 2024-066 苏州纽威阀门股份有限公司 2024 年第四次临时股东大会决议公告 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)股东大会召开的时间：2024 年 8 月 30 日 (二)股东大会召开的地点：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： | 1、出席会议的股东和代理人人数 | 130 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 567,209,469 | | 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 | 74.5946 | | 份总数的比例（%） | | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 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。 ( ...

江苏合展兆丰律师事务所 H&Z L!W FIRM 江苏合展兆丰律师事务所 关于苏州纽威阀门股份有限公司 2024 年第四次临时股东大会的 法律意见书 苏兆证字（2024）第 0830 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，指派张知烈律师、吴开征 律师（以下简称"本所律师"）出席了公司 2024 年第四次临时股东大 会（以下简称"本次股东大会"）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，就本次股东大会的有关 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、副 ...

证券代码：603699 证券简称：纽威股份 公告编号：临 2024-065 苏州纽威阀门股份有限公司 关于使用部分闲置募集资金购买理财产品的公告 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。 重要内容提示： 委托理财受托方：澳门国际银行股份有限公司（以下简称"澳门国际银 行"） 本次委托理财金额：两笔理财金额分别为 800 万元人民币和 1,500 万元 人民币 委托理财产品名称：800 万元理财为"澳银财富"结构性存款（三层结构） 第 728 期、1,500 万元理财为"澳银财富"结构性存款（三层结构）第 729 期 2.闲置资金使用情况 经中国证券监督管理委员会《关于核准苏州纽威阀门股份有限公司首次公开 发行股票的批复》（证监许可[2013]1653 号文）核准，公司于 2014 年 1 月 14 日 在上海证券交易所以人民币 17.66 元/股的发行价格公开发行 82,500,000 股人民 币普通股（A 股），其中公司公开发行新股 50,000,000 股，募集资金总额计人民 币 883,000,000.00 ...