Core Viewpoint - The company is preparing for its 2024 annual shareholder meeting, where it will discuss various proposals including financial results, profit distribution, and the authorization for the board to issue shares to specific investors. Group 1: Meeting Procedures - The shareholder meeting will ensure the protection of shareholders' rights and maintain order during discussions [1][2] - Only authorized personnel, including shareholders and board members, will be allowed to attend the meeting [2][3] - Voting will be conducted both in-person and online, with specific time frames for each method [3] Group 2: Financial Performance - The total assets of the company for 2024 are reported at approximately 2.76 billion yuan, a 9.50% increase from 2023 [5][8] - Total liabilities increased by 24.28% to approximately 972.51 million yuan, while equity rose by 2.86% to about 1.79 billion yuan [5][8] - The company reported a net profit of approximately 85.60 million yuan for 2024, a decrease of 39.90% compared to 2023 [5][8] Group 3: Profit Distribution Proposal - The board proposes a cash dividend of 1.4 yuan per 10 shares, which represents 31.72% of the net profit attributable to shareholders [9][10] - The total number of shares eligible for the dividend is 194.67 million [9] Group 4: Share Issuance Authorization - The board seeks authorization to issue shares to specific investors, with a total financing amount not exceeding 300 million yuan [24][25] - The issuance will be limited to no more than 30% of the company's total shares prior to the issuance [25][26] - The funds raised will be used for business-related projects and to supplement working capital [28]

2024 年年度股东大会会议资料 证券代码：688377 证券简称：迪威尔 南京迪威尔高端制造股份有限公司 2024年年度股东大会会议资料 二〇二五年五月 2024 年年度股东大会会议资料 2024 年年度股东大会会议资料 目录 | 2024 | 年年度股东大会会议须知 2 | | --- | --- | | 2024 | 年年度股东大会表决办法说明 3 | | 2024 | 年年度股东大会会议议程 4 | | 2024 | 年年度股东大会会议议案 5 | | 议案 | 1：关于公司 2024 年度财务决算的议案 5 | | 议案 | 2：关于公司 2024 年年度利润分配方案的议案 10 | | 议案 | 3：关于公司 年年度报告全文及摘要的议案 2024 11 | | 议案 | 4：关于公司 2024 年度董事会工作报告的议案 12 | | 议案 | 5：关于公司 2024 年度监事会工作报告的议案 17 | | 议案 | 6：关于公司董事、监事及高级管理人员 2025 年度薪酬的议案 19 | | 议案 | 7：关于聘请 2025 年度会计师事务所的议案 20 | | 议案 | 8：关于提请股东大会授权 ...

Core Viewpoint - The company reported lower-than-expected financial performance for 2024 and Q1 2025, primarily due to slower growth in the oil and gas production system components business, but anticipates potential market opportunities from upcoming projects [1][4]. Financial Performance - In 2024, the company achieved revenue of 1.124 billion yuan, a year-on-year decrease of 7.12%, and a net profit attributable to shareholders of 86 million yuan, down 39.90% year-on-year [1]. - For Q1 2025, revenue was 271 million yuan, a decline of 5.36% year-on-year, with a net profit of 21 million yuan, down 25.40% year-on-year [1]. - The annual report's performance was below expectations, with a forecasted net profit of 104 million yuan [1]. Profitability and Cost Structure - The gross margin for 2024 was 18.80%, a decrease of 3.18 percentage points, attributed to delays in downstream oil and gas projects and a decline in deep-sea product sales [2]. - In Q1 2025, the gross margin was 18.96%, showing a year-on-year decrease of 0.54 percentage points but an increase of 0.62 percentage points from the previous quarter [2]. - The total expense ratio for 2024 was 9.47%, an increase of 0.58 percentage points year-on-year, driven by higher management expenses due to the acquisition of a Singapore subsidiary [2]. Market Outlook and Opportunities - The offshore oil and gas exploration and development sector remains robust, with deep-sea product orders expected to rebound as international oil prices remain high [2]. - According to Clarkson's forecast, global capital expenditure for offshore oil and gas projects is expected to exceed 100 billion dollars in 2025, representing a year-on-year increase of over 20% [2]. - The company is a key supplier of specialized components in the deep-sea equipment sector for major players like TechnipFMC, SLB, and Baker Hughes, positioning it to benefit from the structural recovery in deep-sea markets [2]. Investment Projects and Future Growth - The company has been advancing its multi-directional forging project for over a decade, targeting the domestic replacement of high-end large valves, with leading global forging technology [3]. - The project is on schedule, having completed critical phases such as equipment installation and main equipment debugging, indicating a potential for substantial returns from high capital expenditures [3]. Profit Forecast and Valuation - The company has revised down its net profit forecasts for 2025 and 2026 by 14% and 2% respectively, estimating net profits of 150 million yuan and 245 million yuan [4]. - The estimated net profit for 2027 is projected to be 296 million yuan [4]. - The company is assigned a target price of 21.58 yuan for 2025, based on a price-to-earnings ratio of 28 times, reflecting a premium due to its leading technology in investment projects [4].

迪威尔 20250428 摘要 • 2025 年一季度，迪威尔营收 2.7 亿元，净利润 2,105 万元，扣非净利润 1980 万元，同比分别下降 5.36%、25.4%和 21.36%，主要受行业资本 开支需求增长缓慢、市场竞争激烈、成本上升等因素影响，需关注成本控 制和市场策略调整。 • 2024 年深海设备专用件占主营收入 42%，毛利率 33%；井口件占比 37%，毛利率 8%；压裂件收入占比 18%，毛利率 12%；钻采件占比 4%，毛利率 18%。深海设备专用件订单占比接近 60%，高毛利率产品订 单增加或将改善盈利能力。 • 公司完成对新加坡 HME 100%股权的收购，旨在提升产能，实现协同效 应，加强公司的综合实力和核心竞争力，以更好地满足国际市场需求，预 计今年收入和利润将较往年增加约 20%。 • 募投项目已完成设备安装、产品工艺设计等环节，客户已进行考察交流， 项目建成后将增强公司在油气领域覆盖产品品类，并适时参与到航空、核 电等其他高端装备行业零部件制造领域。 Q&A 迪威尔公司 2024 年度报告及 2025 年一季报的主要财务表现如何？ 迪威尔公司在 2024 年度报告期内实现 ...

Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of RMB 21.58 [7][8]. Core Views - The company reported a revenue of RMB 1.124 billion for 2024, a year-on-year decrease of 7.12%, and a net profit attributable to the parent company of RMB 0.856 billion, down 39.90% year-on-year. The first quarter of 2025 saw a revenue of RMB 0.271 billion, a decline of 5.36%, and a net profit of RMB 0.021 billion, down 25.40% year-on-year. The underperformance is attributed to slower growth in the oil and gas production system components business [1]. - The company is expected to benefit from the recovery in deep-sea product orders as the international oil price remains high, and upstream exploration and development investments are increasing. Global capital expenditure for offshore oil and gas projects is projected to exceed USD 100 billion in 2025, representing a year-on-year increase of over 20% [3]. - The company has been advancing its multi-directional forging project, which aims at high-end large valve localization, and is expected to enter a period of substantial returns following years of high capital expenditure [4]. Summary by Sections Financial Performance - The company's gross margin for 2024 was 18.80%, a decrease of 3.18 percentage points year-on-year, primarily due to delays in downstream oil and gas projects and a decline in deep-sea product sales proportion. However, there was a notable increase in orders for cladding and precision machining, which is expected to gradually improve profitability [2]. - The total operating revenue for 2025 is projected to be RMB 1.387 billion, with a year-on-year growth of 23.39%. The net profit attributable to the parent company is expected to be RMB 1.500 billion, reflecting a 75.17% increase compared to 2024 [6]. Market Outlook - The company is positioned as a key supplier of specialized components in the deep-sea equipment sector for major players like TechnipFMC, SLB, and Baker Hughes, which is expected to enhance its market share as the deep-sea sector experiences structural recovery [3]. - The company’s multi-directional forging products are anticipated to have high visibility in downstream demand, with potential markets in aviation and nuclear power being particularly promising [4]. Profitability and Valuation - The company has adjusted its net profit forecasts for 2025 and 2026 downwards by 14% and 2% respectively, now estimating RMB 1.500 billion and RMB 2.450 billion. The estimated net profit for 2027 is RMB 2.960 billion. The adjustments are due to anticipated increases in costs and expense ratios [5]. - The company is assigned a price-to-earnings (PE) ratio of 28 times for 2025, reflecting a premium valuation due to its leading global technology in manufacturing processes and equipment [5].

Core Viewpoint - Nanjing Diweier High-end Manufacturing Co., Ltd. reported a significant decline in financial performance for 2024, with net profit down 39.90% and cash flow from operating activities down 47.89%, indicating challenges in the market environment and operational efficiency [1][2][3]. Revenue and Profitability - Revenue for 2024 was 1,123,895,642.59 yuan, a decrease of 7.12% from 2023's 1,210,066,911.38 yuan, primarily due to a decline in orders for deep-sea equipment components amid a weak global economic recovery [2]. - Net profit attributable to shareholders was 85,602,699.18 yuan, down 39.90% from 142,432,629.62 yuan in 2023, influenced by reduced revenue and declining profit margins on high-value products [3]. - Deducted non-recurring gains, the net profit was 82,649,807.79 yuan, a 39.70% decrease from 137,055,635.14 yuan in 2023, indicating weakened core business profitability [4]. Earnings Per Share - Basic earnings per share fell to 0.44 yuan, a decline of 40.54% from 0.74 yuan in 2023, reflecting reduced shareholder returns due to lower profitability [5]. - Deducted non-recurring gains, the earnings per share was 0.43 yuan, down 39.44% from 0.71 yuan in 2023, highlighting challenges in core business performance [6]. Expense Management - Management expenses increased by 9.67% to 52,955,247.64 yuan, driven by higher personnel costs and acquisition-related expenses, necessitating attention to cost control [7][9]. - Research and development expenses decreased by 9.83% to 38,920,796.42 yuan, which may impact future innovation capabilities [11][12]. Cash Flow Analysis - Cash flow from operating activities was 103,924,442.40 yuan, down 47.89% from 199,422,928.38 yuan in 2023, indicating operational pressure due to declining sales and increased inventory [14][15]. - Cash flow from investing activities showed a reduction in outflows, suggesting a strategic adjustment in investment pace [17]. - Cash flow from financing activities turned positive at 121,199,432.73 yuan, primarily due to increased bank borrowings for acquisitions, raising concerns about debt levels [18]. R&D and Human Resources - R&D personnel increased from 130 to 149, with a diverse educational background, which could enhance R&D capabilities despite reduced investment [13]. - The decrease in R&D spending may hinder technological innovation and product competitiveness in the long term [12].

证券代码：688377 证券简称：迪威尔 公告编号：2025-008 南京迪威尔高端制造股份有限公司 关于召开2024年年度股东大会的通知 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 一、 召开会议的基本情况 （一） 股东大会类型和届次 2024年年度股东大会 （二） 股东大会召集人：董事会 （三） 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 （四） 现场会议召开的日期、时间和地点 召开日期时间：2025 年 5 月 20 日 14 点 00 分 召开地点：江苏省南京市江北新区迪西路 8 号 公司三楼 1 号会议室 至2025 年 5 月 20 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 股东大会召开日期：2025年5月20日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过互联 网投票平台的投票时间为股东大会召开当日的 9: ...

证券代码：688377 证券简称：迪威尔 公告编号：2025-007 南京迪威尔高端制造股份有限公司 第六届监事会第六次会议决议公告 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、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 南京迪威尔高端制造股份有限公司（以下简称"公司"）第六届监事会第六次会 议于 2025 年 4 月 25 日以现场方式召开，现场会议在公司会议室举行。本次会议的 通知于 2025 年 4 月 15 日以书面通知方式送达全体监事。本次会议应出席监事 3 人， 实际出席监事 3 人，会议由监事会主席何蓉主持。会议的召集和召开程序符合有关 法律法规、规范性文件和公司章程的规定，会议决议合法、有效。 二、监事会会议审议情况 表决结果：同意 3 票，反对 0 票，弃权 0 票。 本议案尚需提交股东大会审议。 3、审议通过《关于公司 2024 年年度报告全文及摘要的议案》 公司监事会认为：公司 2024 年年度报告的编制和审议程序符合相关法律法规和 《公司章程》等内部规章制度的规定，公允的反映了公司 2024 年度的财务状况和经 营 ...

本次利润分配以实施权益分派股权登记日登记的总股本扣除股份回购专户 内股票数量为基数，具体日期将在权益分派实施公告中明确。 在实施权益分派的股权登记日前公司总股本发生变动的，拟维持分配总额不 变，相应调整每股分配比例，并将另行公告具体调整情况。 不会触及《上海证券交易所科创板股票上市规则》第 12.9.1 条第一款第（八） 项规定的可能被实施其他风险警示的情形。 一、利润分配方案内容 （一）利润分配方案具体内容 证券代码：688377 证券简称：迪威尔 公告编号：2025-005 南京迪威尔高端制造股份有限公司 2024 年年度利润分配方案公告 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： 每股分配比例：每股派发现金红利 0.14 元（含税），不进行资本公积转增股 本，不送红股。 1 如在本公告披露之日起至实施权益分派股权登记日期间，因可转债转股/回购股份/ 股权激励授予股份回购注销/重大资产重组股份回购注销等致使公司总股本发生变动的， 公司拟维持分配总额不变，相应调整每股分配比例。如后续总股本发生变化，将另行 ...

证券代码：688377 证券简称：迪威尔 公告编号：2025-011 南京迪威尔高端制造股份有限公司 关于提请股东大会授权董事会以简易程序 向特定对象发行股票的公告 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。 南京迪威尔高端制造股份有限公司（以下简称"公司"）于 2025 年 4 月 25 日 召开的第六届董事会第六次会议审议通过了《关于提请股东大会授权董事会以简易 程序向特定对象发行股票的议案》。本议案尚需提交公司股东大会审议通过。具体 情况如下： 根据《上市公司证券发行注册管理办法》等相关规定，公司董事会提请股东大 会授权董事会决定公司择机向特定对象发行融资总额不超过人民币三亿元且不超过 最近一年末净资产百分之二十的股票，授权期限自公司 2024 年年度股东大会审议 通过之日起至公司 2025 年年度股东大会召开之日止。本次以简易程序向特定对象 发行股票（以下简称"本次发行"）授权事宜包括但不限于以下内容： 一、确认公司是否符合以简易程序向特定对象发行股票条件 授权董事会根据《中华人民共和国公司法》《中华人民共和国证券 ...