同时，随着大湾区高品质供水的持续发展，对于高性能水表产品的需求持续扩大，超声波水表的市场也 持续拓展。展会期间，公司2.0产品事业部部长封小刚发表了题为《超声波水表应用痛点方案》的主题 报告，系统阐述了超声波水表在智慧水务中的应用优势、核心痛点及解决方案。 多年来，公司始终坚持"一业为主，做精做强"的经营方针，持续聚焦智慧水务领域。在供水计量方面， 公司拥有1000多种产品型号，涵盖民用、工业用冷、热机械水表、智能水表及多参数水表等系列，服务 了国内超2300家水务公司，出口80多个国家和地区。本次展会公司与深圳环境水务集团合作研发的NB- IoT无线远传水表受到湾区嘉宾的广泛关注。 11月14日—16日，在深圳市科技创新局、深圳市水务局指导下，依托第二十七届高交会平台，由深圳市 环境水务集团有限公司主办的"2025环境水务产业科技博览会"（以下简称"水博会"）于深圳国际会展中 心顺利召开。宁波水表（集团）股份有限公司（以下简称"宁水集团（603700）"或"公司"）作为水计量 行业领军企业，由公司党委书记、董事长张琳带队精彩亮相本次水博会，与粤港澳大湾区各地涉水企业 展开深度交流与探讨，共同描绘湾区水务发展 ...

Core Points - Ningbo Water Meter (Group) Co., Ltd. has developed an electromagnetic water meter that has been recognized as an "Excellent Industrial Product" in Zhejiang Province for 2025, highlighting its technical performance and market application [1] - The electromagnetic water meter features a design without mechanical moving parts, offering high precision, low power consumption, wide measurement range, and reliability, with an IP68 protection rating [1] - The product addresses issues found in traditional water meters, such as high pressure loss, clogging, and inability to measure low flow rates, making it suitable for various applications including urban water supply and agricultural irrigation [1] - The recognition reflects the company's ongoing investment in research and development in the electromagnetic water meter field, with positive user feedback from multiple municipal water projects [1] - The company plans to continue focusing on water measurement, enhancing product reliability and technical services, and advancing smart water solutions for industry clients [2]

Core Viewpoint - Ning Shui Group (603700.SH) announced a share reduction by a major shareholder, Wang Zonghui, which has implications for the company's stock performance and shareholder structure [1] Summary by Relevant Sections - **Shareholder Activity** - Wang Zonghui, a shareholder holding over 5% of the company, notified the company about a share reduction that touched the 1% threshold [1] - On October 15, 2025, Wang reduced his holdings by 245,000 shares through block trading [1] - Between October 21 and November 3, 2025, he further reduced his holdings by 166,200 shares through centralized bidding, totaling a reduction of 411,200 shares [1] - This reduction represents 0.2039% of the company's total share capital, decreasing his ownership from 6.20% to 6.00% [1]

证券代码：603700 证券简称：宁水集团 公告编号：2025-057 宁波水表（集团）股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度的提示性 公告 股东王宗辉先生保证向本公司提供的信息真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 | 信息披露义务人名称 | | 投资者身份 | 统一社会信用代码 | | --- | --- | --- | --- | | 王宗辉 | □ | 控股股东/实控人 | | | | □ | 控股股东/实控人的一致 | □ _____________ | | | 行动人 | | 不适用 ☑ | | | ☑ | 其他直接持股股东 | | 重要内容提示： 权益变动方向 比例增加□ 比例减少☑ 权益变动前合计比例 6.20% 权益变动后合计比例 6.00% 本次变动是否违反已作出的承 诺、意向、计划 是□ 否☑ 是否触发强制要约收购义务 是□ 否☑ 一、 信息披露义务人及其一致行动人的基本信息 1.身份类别 | | □控股股东/实际控制人及其一致行动人 | | --- | --- | | | ☑其他 5%以上大股东及其一致行动人 | | 投资者及其一致行动人的身份 | ...

Company Overview - Ning Shui Group was established on January 1, 1958, and listed on the Shanghai Stock Exchange on January 22, 2019. The company is a leading manufacturer of water meters in China, focusing on the research, production, and sales of mechanical and smart water meters, with a strong technical foundation and full industry chain advantages [1] Financial Performance - As of Q3 2025, Ning Shui Group reported revenue of 1.202 billion yuan, ranking 10th among 61 companies in the industry. The top competitor, Chuan Yi Co., achieved 4.89 billion yuan in revenue, while the industry average was 655 million yuan [2] - The net profit for the same period was 75.267 million yuan, placing the company 20th in the industry. The leading company, Chuan Yi Co., had a net profit of 469 million yuan, with the industry average at 58.967 million yuan [2] Financial Ratios - The company's debt-to-asset ratio as of Q3 2025 was 32.03%, an increase from 28.64% in the previous year and above the industry average of 27.43% [3] - The gross profit margin for the same period was 20.58%, down from 22.10% year-on-year and below the industry average of 43.50% [3] Executive Compensation - The chairman, Zhang Lin, received a salary of 751,400 yuan in 2024, a decrease of 139,100 yuan from 2023. The general manager, Chen Xiang, earned 1,285,700 yuan, an increase of 6,000 yuan from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 18.22% to 14,900, while the average number of circulating A-shares held per shareholder increased by 22.27% to 13,600 [5] Future Outlook - According to Yongxing Securities, Ning Shui Group's performance in Q1 2025 was stable, with revenue of 266 million yuan, a year-on-year increase of 5.85%, and a net profit of 28 million yuan, up 141.62% year-on-year, primarily due to the disposal of a subsidiary. The company is expected to achieve revenues of 1.709 billion, 1.979 billion, and 2.329 billion yuan from 2025 to 2027, with corresponding net profits of 62 million, 73 million, and 88 million yuan [6]

Core Insights - Ning Shui Group (603700.SH) reported a revenue of 1.202 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 18.62% [1] - The company's net profit attributable to shareholders reached 75.37 million yuan, showing a significant year-on-year increase of 114.2% [1] - The non-recurring net profit was 32.01 million yuan, reflecting a year-on-year growth of 29.10% [1] - Basic earnings per share stood at 0.38 yuan [1]

Major Events - Shanghai Zhiyuan Hengyue Technology completed the tender offer for Shangwei New Materials, acquiring 58.6232% of the shares, with trading resuming on October 30, 2025 [4] - Peking University Pharmaceutical's chairman and president Xu Xiren has been detained for criminal investigation, but the company's control and operations remain normal [5] - China Unicom's chairman Chen Zhongyue resigned due to work adjustments, effective October 29, 2025 [6][7] - CITIC Financial Assets increased its stake in Hangyang Co., Ltd. to 5% through a block trade, reflecting confidence in the company's future [8] - Haoshi Electromechanical's subsidiary plans to invest 232 million yuan in a high-end equipment intelligent manufacturing project [9] - Zhejiang Xiantong's second shareholder Li Qifu plans to invest 130 million yuan in Qiteng Robotics to enhance production capacity [10] - Qianjiang Biochemical's subsidiary has completed a project for bio-pesticide production, with an annual capacity of 3,261 tons [11] - Dongni Electronics will face risk warnings and a one-day suspension due to an administrative penalty [12] - Jindao Technology signed a strategic cooperation agreement with Hangcha Group to develop robotic joint modules [14] Performance Overview - Kweichow Moutai reported Q3 net profit of 19.224 billion yuan, a 0.48% increase year-on-year, with total revenue of 39.064 billion yuan [15] - Huibai New Materials achieved a Q3 net profit of 27.1307 million yuan, a 3066.26% increase year-on-year, with revenue growth of 49.59% [16] - Zangzi Island reported a Q3 net loss of 42.5226 million yuan, with revenue down 19.92% [17] - OFILM reported a Q3 net profit of 40.8235 million yuan, a 411.91% increase year-on-year, with revenue growth of 21.15% [18] - China Rare Earth's Q3 net profit was 30.4752 million yuan, down 26.43% year-on-year, with revenue declining 22.4% [19] - Tianqi Lithium reported a Q3 net profit of 95.4855 million yuan, turning a profit after previous losses [20] - New Yisheng's Q3 net profit was 2.385 billion yuan, a 205.38% increase year-on-year, driven by AI-related sales growth [21] - Industrial Fulian's Q3 net profit increased by 49% year-on-year [22] - CICC's Q3 net profit grew by 130% year-on-year [23] - Tianpu Co., Ltd. reported a Q3 net profit increase of 33% [24] - BlueFocus reported a Q3 net profit of 99.2389 million yuan, a 265.47% increase year-on-year [25] - Ningshui Group's Q3 net profit was 21.7388 million yuan, a 347.57% increase year-on-year [26] - Shoukai Co. reported a Q3 net loss of 3.105 billion yuan [27] - Xiamen Xiangyu's Q3 net profit was 601 million yuan, a 443.17% increase year-on-year [29] - Huaneng Intelligent reported a Q3 net loss of 53.8408 million yuan, a significant decline [30] - Zhongjin Gold's Q3 net profit increased by 39.18% year-on-year [31] - Shandong Gold's Q3 net profit increased by 92% year-on-year [32] - Yahua Group's Q3 net profit was 198 million yuan, a 278.06% increase year-on-year [33] - Western Gold's Q3 net profit increased by 168% year-on-year [34] - Laobai Gan Liquor reported a 28% decline in net profit for the first three quarters [35] - Kaiying Network's Q3 net profit was 633 million yuan, a 34.51% increase year-on-year [36] - Tongchen Beijian reported a Q3 net profit of 171 million yuan, turning a profit from previous losses [37] - Nanshan Holdings' Q3 net profit increased by 203.51% year-on-year [38] - China Merchants Bank's Q3 net profit was 38.842 billion yuan, a 1.04% increase year-on-year [39] - Huahong Technology's Q3 net profit increased by 7111% year-on-year [40] - Fangda Special Steel's Q3 net profit increased by 1368.1% year-on-year [41] Shareholding Changes - WuXi AppTec's controlling shareholder plans to reduce its stake by up to 2% [43] - Hecai Technology's major shareholder Bosch China plans to reduce its stake by up to 3% [44] Major Contracts - China Electric Power Construction signed a contract worth 6.568 billion yuan for a hospital project in Peru [45] - Lanshi Heavy Industry signed a significant contract in the nuclear energy sector worth 581 million yuan [46] - Guoke Military Industry's subsidiary signed a major sales contract worth 466 million yuan [48]

Core Viewpoint - Ning Shui Group (603700.SH) reported significant growth in its third-quarter financial results, indicating strong operational performance and profitability improvements [1] Financial Performance - The company achieved a revenue of 495 million yuan in the third quarter, representing a year-on-year increase of 32.63% [1] - The net profit attributable to shareholders reached 21.7388 million yuan, marking a substantial year-on-year growth of 347.57% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 21.4544 million yuan, reflecting an impressive year-on-year increase of 732.59% [1] - Basic earnings per share stood at 0.11 yuan [1]

一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第三季度的经 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。 证券代码：603700 证券简称：宁水集团 公告编号：2025-056 宁波水表（集团）股份有限公司 关于召开 2025 年第三季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： 投资者可于 2025 年 11 月 11 日（星期二）至 11 月 17 日（星期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 zqb@chinawatermeter.com 进行提问。公司将在说明会上对投资者普遍关注的问 题进行回答。 宁波水表（集团）股份有限公司（以下简称"公司"）已于 2025 年 10 月 30 日发布了公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 11 月 18 日下午 ...

证券代码：603700 证券简称：宁水集团 公告编号：2025-055 宁波水表（集团）股份有限公司 关于 2025 年第三季度计提减值准备的公告 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、计提减值准备情况概述 宁波水表（集团）股份有限公司（以下简称"公司"）依据《企业会计准则》 以及公司相关会计政策的规定，为更加真实、准确地反映公司截至 2025 年 9 月 30 日的财务状况、资产状况以及 2025 年第三季度经营成果，对公司各类资产进 行了全面检查和减值测试，并基于谨慎性原则，对其中存在减值迹象的资产计提 了减值准备。 2025 年 7 月 1 日至 2025 年 9 月 30 日，公司计提信用减值及资产减值损失 共计 919.95 万元，具体明细如下表所示： | | 项目 | 计提减值金额（元） | | --- | --- | --- | | 信用减值损失 | 应收账款坏账准备 | 8,014,246.17 | | | 其他应收款坏账准备 | 956,675.55 | | | 小计 | 8,970,921.7 ...