Financial Performance - The company's operating revenue for the third quarter reached ¥495,459,006.91, an increase of 32.63% compared to the same period last year[4] - Total profit for the third quarter was ¥22,736,417.59, reflecting a significant increase of 788.12% year-over-year[4] - Net profit attributable to shareholders for the third quarter was ¥21,738,831.11, up 347.57% from the previous year[4] - The net profit excluding non-recurring gains and losses for the third quarter was ¥21,454,376.67, an increase of 732.59% year-over-year[4] - The basic earnings per share for the third quarter was ¥0.11, a rise of 450.00% compared to the same period last year[5] - The diluted earnings per share for the third quarter was also ¥0.11, reflecting a 450.00% increase year-over-year[5] - Total operating revenue for the first three quarters of 2025 reached ¥1,201,749,894.28, an increase of 18.63% compared to ¥1,013,101,711.23 in the same period of 2024[21] - Net profit for the first three quarters of 2025 was ¥75,266,951.54, representing a significant increase of 114.36% compared to ¥35,082,795.93 in 2024[22] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.38, compared to ¥0.18 in the same period of 2024[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,395,426,142.22, representing a 5.13% increase from the end of the previous year[5] - The total assets of the company amounted to ¥2,395,426,142.22, an increase from ¥2,278,462,651.43 in the previous year[19] - Total liabilities increased to ¥767,334,058.40 from ¥673,558,259.08, reflecting a rise of 13.93%[19] - The company's total equity reached ¥1,628,092,083.82, up from ¥1,604,904,392.35, indicating a growth of 1.45%[19] Shareholder Information - Total number of common shareholders at the end of the reporting period is 14,878[12] - The largest shareholder, Zhang Shihua, holds 34,223,657 shares, representing 16.97% of total shares[12] - The company’s major shareholders have no pledged, marked, or frozen shares[12] - There are no significant changes in the participation of major shareholders in margin trading and securities lending[15] Cash Flow and Investments - The company's cash and cash equivalents as of September 30, 2025, amount to ¥218,881,896.39, down from ¥348,442,912.62 as of December 31, 2024[17] - Cash inflow from operating activities for the first three quarters of 2025 was CNY 1,230,171,358.20, an increase of 11.6% compared to CNY 1,102,711,298.29 in the same period of 2024[24] - Net cash outflow from operating activities was CNY -113,092,918.94, an improvement from CNY -141,905,143.48 in the previous year[25] - Cash inflow from investment activities totaled CNY 201,005,467.73, up from CNY 172,742,882.99 in 2024, marking a 16.3% increase[25] - Net cash flow from investment activities was CNY 15,270,544.63, a significant recovery from CNY -59,673,678.09 in the prior year[25] - Cash inflow from financing activities decreased to CNY 114,070,000.00 from CNY 177,000,000.00, a decline of 35.6%[25] - Net cash outflow from financing activities was CNY -32,816,313.06, worsening from CNY -7,254,342.86 in 2024[25] - The total cash and cash equivalents at the end of the period stood at CNY 210,824,159.47, compared to CNY 188,170,956.20 at the end of Q3 2024, reflecting a 12% increase[25] Operational Costs and Expenses - Total operating costs for the first three quarters of 2025 were ¥1,155,400,077.33, up 17.77% from ¥980,847,049.63 in the previous year[21] - Research and development expenses increased to ¥57,194,467.90, up from ¥53,028,740.53, showing a growth of 7.67%[21] - The company reported a significant decrease in financial expenses, with a net financial income of -¥766,393.74 compared to -¥2,260,334.84 in the previous year[21] - Cash paid for purchasing goods and services was CNY 1,047,364,600.04, an increase of 24.4% from CNY 842,495,048.41 in 2024[24] - Cash paid to employees increased to CNY 176,457,320.96 from CNY 166,293,163.16, reflecting a growth of 6.5%[24] Revenue Drivers - The significant increase in revenue and profit is attributed to economic recovery and an increase in orders, along with a decrease in impairment losses on receivables[9] Investment and Equity - The company has a long-term equity investment valued at ¥73,016,663.22, up from ¥68,400,898.03[17] - Investment income for the first three quarters of 2025 was ¥45,501,926.06, a recovery from a loss of ¥3,047,622.00 in the same period of 2024[21]

Group 1 - On October 21, Ning Shui Group executed a block trade of 800,000 shares, with a transaction value of 9.624 million yuan, accounting for 18.04% of the total trading volume for the day [1] - The transaction price was 12.03 yuan, which was in line with the market closing price of 12.03 yuan [1]

Group 1 - Ning Shui Group's stock rose by 1.44%, closing at 11.95 yuan on October 15 [1] - A block trade occurred with a total volume of 245,000 shares and a transaction amount of 2.597 million yuan, with a transaction price of 10.60 yuan per share, reflecting a premium rate of -11.30% [1] - The buyer was CITIC Securities Co., Ltd. and the seller was Industrial Securities Co., Ltd. [1] Group 2 - In the last three months, the stock has recorded two block trades with a total transaction amount of 17.5654 million yuan [1] - Over the past five trading days, the stock has increased by 0.42%, while the net outflow of main funds totaled 898,000 yuan [1]

Group 1 - On October 15, Ning Shui Group executed a block trade of 245,000 shares, with a transaction amount of 2.597 million yuan, accounting for 7.26% of the total transaction volume for the day [1][2] - The transaction price was 10.6 yuan, which represents an 11.3% discount compared to the market closing price of 11.95 yuan [1][2]

Core Insights - Ningbo Water Meter (Group) Co., Ltd. has launched a significant upgrade of its smart module manufacturing workshop, marking a milestone in the company's "smart manufacturing upgrade" strategy and enhancing its production capacity to meet global demand for high-quality and fast-delivery smart water meters [1][2]. Group 1 - The upgrade of the smart module manufacturing workshop is seen as a new engine for production capacity breakthroughs, allowing for full control from core electronic modules to complete machine integration, thus providing customers with high-quality service [1][2]. - The president of the company, Chen Xiang, emphasized three core principles for workshop operations: ensuring "zero defects" through a stringent quality control system, optimizing production processes for efficiency, and strengthening team skills and innovation to cultivate specialized talent in smart manufacturing [2]. - The chairman, Zhang Lin, highlighted the multi-faceted significance of the upgrade, including substantial improvements in production efficiency, shortened production cycles, and enhanced product quality assurance [2]. Group 2 - The newly upgraded smart module manufacturing workshop is expected to achieve an annual production capacity of 10 million units, injecting new momentum into the production system and significantly enhancing the company's core competitiveness in the smart water meter sector [3]. - The automated production process includes various stages such as SMT, programming, testing, welding, communication testing, module assembly, automatic sealing, pressure resistance, performance testing, and packaging, showcasing the advanced capabilities of the new production line [3].

公司已向中国证券登记结算有限责任公司上海分公司递交了上述调整股票 期权行权价格及注销 938,750 份股票期权的申请，经其审核确认，上述事宜已办 理完毕。 本次行权价格调整与注销部分股票期权事宜符合公司 2024 年股票期权激励 计划及相关法律法规、规范性文件的规定，不会影响本激励计划的继续实施，不 会影响公司股本结构，不会对公司财务状况和经营成果产生实质性影响，不存在 证券代码：603700 证券简称：宁水集团 公告编号：2025-054 宁波水表（集团）股份有限公司 关于 2024 年股票期权激励计划行权价格调整及部分 股票期权注销完成的公告 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。 宁波水表（集团）股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日召开第九届董事会第四次会议和第九届监事会第四次会议，审议通过了《关于 调整 2024 年股票期权激励计划行权价格的议案》《关于 2024 年股票期权激励计 划第一个行权期行权条件未成就及注销部分股票期权的议案》，同意将公司 2024 年股票期权激励计划（ ...

Core Insights - The smart instrument industry in China is experiencing significant growth, driven by rapid economic development, urbanization, and advancements in industrial automation, with the market size projected to increase from 492.4 billion yuan in 2018 to 708.4 billion yuan in 2024, representing a compound annual growth rate (CAGR) of 6.25% [1][10][11] - The future of smart instruments is expected to focus on increased intelligence, integration, high precision, and the fusion of multiple technologies, enhancing their role in industrial internet and smart city applications [1][11][17][18][19] Industry Overview - Smart instruments are high-tech products that integrate modern information and sensing technologies, capable of data collection, processing, and display, widely used in various fields such as industrial automation, environmental monitoring, medical diagnostics, and aerospace [1][10] - The classification of smart instruments includes temperature, pressure, and flow smart instruments, and they can be categorized by output methods such as local display, remote transmission, and network connection [3][4] Market Growth - The smart instrument market in China is projected to reach 757.3 billion yuan by 2025, indicating a continuous upward trend in demand due to urban management, energy monitoring, and water resource management [1][11] - The smart water meter market is expected to grow from 4.92 billion yuan in 2017 to 13.188 billion yuan in 2024, with a CAGR of 15.13% [11][12] - The smart electric meter market is also expanding, with the number of tenders increasing from 38.1875 million units in 2017 to 89.33 million units in 2024 [12][13] - The smart gas meter market is projected to grow from 5.636 billion yuan in 2017 to 10 billion yuan in 2024, with a CAGR of 8.54% [13] Industry Policies - The Chinese government has implemented various policies to support the development of the smart instrument industry, including initiatives aimed at innovation in manufacturing and quality improvement [7][10] Industry Structure - The smart instrument industry is characterized by intense competition, with companies categorized into two main types: those focusing on industrial automation solutions and those specializing in water and gas management [14] - Key players in the industry include Chuan Yi Automation, Hanwei Technology, and others, with a clear tiered structure based on revenue and market presence [14][15] Development Trends - The industry is moving towards deeper intelligence, with future smart instruments expected to incorporate AI algorithms for self-learning and predictive maintenance [17] - Integration is a key trend, with devices becoming more compact and multifunctional, enhancing operational efficiency [18] - High precision and the fusion of technologies such as IoT and big data are critical for meeting the demands of high-end manufacturing and environmental monitoring [19]

二、需债权人知晓的相关信息 鉴于本次回购注销 2024 年员工持股计划第一期未解锁股份后将导致公司注 册资本减少，根据《中华人民共和国公司法》等相关法律、法规的规定，公司债 权人自接到公司通知起 30 日内、未接到通知者自本公告披露之日起 45 日内，均 有权凭有效债权文件及相关凭证要求公司清偿债务或者提供相应担保。债权人如 逾期未向公司申报债权，不会因此影响其债权的有效性，相关债务（义务）将由 公司根据原债权文件的约定继续履行，上述注销将按照法定程序继续实施。 证券代码：603700 证券简称：宁水集团 公告编号：2025-053 宁波水表（集团）股份有限公司 关于注销回购股份并减少注册资本暨通知债权人的 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、通知债权人的原由 宁波水表（集团）股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日召开公司第九届董事会第四次会议、第九届监事会第四次会议，并于 2025 年 9 月 15 日召开公司 2025 年第二次临时股东大会，审议通过了《关于 2024 年员 ...

北京市中伦（深圳）律师事务所 关于宁波水表（集团）股份有限公司 2025 年第二次临时股东大会的 法律意见书 二〇二五年九月 | 四、结论意见 7 | | --- | 北京市中伦（深圳）律师事务所 关于宁波水表（集团）股份有限公司 2025 年第二次临时股东大会的 法律意见书 致：宁波水表（集团）股份有限公司 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》以及中国证券监督管理委员会（以下简称"中国证监会"）发布 的《上市公司股东会规则》的规定，北京市中伦（深圳）律师事务所（以下简称 "本所"）接受宁波水表（集团）股份有限公司（以下简称"公司"）的委托， 指派本所律师列席公司 2025 年第二次临时股东大会（以下简称"本次股东大 会"），本所指派的律师通过现场和实时视频方式对本次股东大会的相关事项进 行见证并出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的包括但不限于如下相关文 件： 1. 公司现行有效的公司章程； 2. 公司于 2025 年 8 月 29 日刊登于巨潮资讯网（www.cninfo.com.cn）的第 九届董事会第四次会议决议公告； 5. 公司 ...

证券代码：603700 证券简称：宁水集团 公告编号：2025-052 宁波水表（集团）股份有限公司 2025年第二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：2025 年 9 月 15 日 (二)股东大会召开的地点：宁波市江北区北海路 358 号宁波水表（集团）股份有 限公司 1504 行政会议室 (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 | 71 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 60,741,691 | | 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（%） | 30.3870 | 注:有表决权股份总数不包含公司回购专户账户中的股份。 (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。 本次会议由董事会召集，董事长张琳女士主持。采 ...