Investment Rating - The report maintains an "Overweight" rating for the industry and "Buy" for the specific company, Diwei [7][9]. Core Insights - The multi-directional forging market is expected to grow from $1.205 billion in 2024 to $1.576 billion by 2031, with a CAGR of 3.9% [2][41]. - Domestic companies, particularly Diwei, have surpassed international competitors in technology, with their 350MN multi-directional forging hydraulic press achieving superior performance metrics [2][5]. - The global forging market is projected to grow from $95.02 billion in 2024 to $199.69 billion by 2034, with a CAGR of 7.7%, and the Chinese market is expected to grow at a CAGR of 11.3% from 2025 to 2035 [3][34]. Summary by Sections Market Expansion - The demand from high-end manufacturing sectors such as aerospace, deep-sea equipment, and new energy is driving the global multi-directional forging market expansion [2][3]. - Multi-directional forging is widely used in high-performance applications, including aerospace landing gear and complex structural components, enhancing material utilization and product reliability [3][12]. Technical Barriers - Multi-directional forging faces significant barriers in equipment, processes, and materials, creating a strong competitive moat [4][12]. - The technology requires high-precision multi-cylinder synchronous control and complex mold design, which are challenging to achieve [4][12]. Domestic Technological Breakthroughs - The domestic multi-directional forging industry has made significant technological advancements since around 2010, with companies like Diwei leading the way [5][13]. - Diwei's 350MN hydraulic press has entered the global supply chain for top oil service companies, showcasing China's capabilities in high-end forging equipment [5][13]. Market Growth and Demand - The global forging market is expected to grow steadily, with multi-directional forging benefiting from the increasing demand for high-performance components [33][34]. - The multi-directional forging hydraulic press market is projected to grow from $1.205 billion in 2024 to $1.576 billion by 2031, driven by aerospace and automotive lightweighting needs [41][43]. Application and Performance - Multi-directional forging is recognized for its ability to produce complex parts in a single forming process, significantly improving material utilization rates to 70%-85% [11][31]. - The technology is particularly advantageous in high-stress applications, such as aerospace and nuclear power, where performance and reliability are critical [42][44].

Core Viewpoint - The stock price of Diwei Er has experienced significant fluctuations, with a year-to-date increase of 96.97% and a recent decline of 2.03% on October 9, 2023, indicating volatility in investor sentiment and market conditions [1][2]. Company Performance - Diwei Er's stock price as of October 9, 2023, is 37.70 CNY per share, with a total market capitalization of 7.339 billion CNY [1]. - The company reported a revenue of 563 million CNY for the first half of 2025, showing a slight year-on-year decrease of 0.04%, while the net profit attributable to shareholders was 51.526 million CNY, down 7.17% year-on-year [2]. Shareholder Information - As of June 30, 2025, the number of shareholders for Diwei Er is 4,500, which represents a decrease of 20.98% from the previous period. The average number of circulating shares per shareholder increased by 26.56% to 43,259 shares [2]. - The company has distributed a total of 134 million CNY in dividends since its A-share listing, with 103 million CNY distributed over the past three years [3]. Institutional Holdings - As of June 30, 2025, the top ten circulating shareholders include notable funds such as Nuoan Pioneer Mixed A and Nuoan Preferred Return Mixed A, with holdings of 8.7888 million shares and 3.8760 million shares, respectively, remaining unchanged from the previous period. Additionally, Fuguo Tianhui Growth Mixed A/B has entered as a new shareholder with 3.5477 million shares [3].

Core Viewpoint - The company announced the completion of a share reduction plan by its major shareholders, which included a total reduction of 1,598,500 shares, impacting the ownership structure but not affecting control or governance significantly [4][15]. Shareholder Reduction Details - Before the reduction, Nanjing Nandiweier Enterprise Management Consulting Co., Ltd. held 2,617,500 shares, accounting for 1.34% of the total share capital, while Mr. Zhang Hong held 6,100,000 shares, representing 3.13% [2]. - The share reduction occurred from September 1 to September 24, 2025, with Nandi Consulting reducing 598,500 shares (0.31%) and Mr. Zhang reducing 1,000,000 shares (0.51) [4][15]. - The shares involved in the reduction were all unrestricted circulating shares obtained prior to the company's initial public offering [3]. Impact on Shareholding Structure - Following the reduction, the combined shareholding of Nanjing Nandiweier and Mr. Zhang decreased from 38.38% to 37.56%, indicating a change that touched the 1% threshold [15]. - The reduction was part of a previously disclosed plan and did not trigger any mandatory tender offer or change in the company's controlling shareholder [15]. Upcoming Investor Communication - The company is scheduled to hold a half-year performance briefing on October 17, 2025, to discuss its operational results and financial status, allowing investors to engage and ask questions [7][8]. - Investors can submit questions from October 10 to October 16, 2025, prior to the briefing [11].

Core Points - The company Diweier announced a share reduction plan involving its employee shareholding platform, Nanjing Nandi Diweier Enterprise Management Consulting Co., Ltd, which held 2,617,500 shares, accounting for 1.34% of the total share capital [2] - Company director and senior executive Zhang Hong held 6,100,000 shares, representing 3.13% of the total share capital [2] - Nandi Consulting reduced its holdings by 598,500 shares, or 0.31% of the total share capital, between September 1 and September 22, 2025 [2] - Zhang Hong reduced his holdings by 1,000,000 shares, or 0.51% of the total share capital, between September 1 and September 24, 2025 [2] - The share reduction plan has been completed [2]

Core Points - The company, Diweier (688377.SH), has received a notice regarding a change in equity ownership from Nanjing Nandiweier Enterprise Management Consulting Co., Ltd. and Mr. Zhang Hong [1] - From September 1 to September 24, 2025, Nanjing Nandiweier and Mr. Zhang reduced their shareholding by 1,598,500 shares through centralized bidding [1] - Following this reduction, the combined shareholding of Nanjing Nandiweier, Mr. Zhang, and their concerted parties decreased from 38.38% to 37.56%, marking a change that touches the 1% threshold [1]

Core Points - The company, Diweier (688377.SH), has received a notice regarding a change in equity ownership from Nanjing Nandiweier Enterprise Management Consulting Co., Ltd. and Mr. Zhang Hong [1] - From September 1 to September 24, 2025, Nanjing Nandiweier and Mr. Zhang reduced their shareholding by 1,598,500 shares through centralized bidding [1] - Following this equity change, the combined shareholding of Nanjing Nandiweier, Mr. Zhang, and their concerted parties decreased from 38.38% to 37.56%, marking a change that touches the 1% threshold [1]

南京迪威尔高端制造股份有限公司 关于股东权益变动触及 1%刻度的提示性公告 证券代码：688377 证券简称：迪威尔 公告编号：2025-023 3.一致行动人信息 南京南迪威尔企业管理咨询有限公司、张洪先生及其一致行动人保证向本公司提 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。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 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 | 38.38% | | | | 权益变动后合计比例 | 38.00% | | | | 本次变动是否违反已作出的承 | 是□ | 否√ | | | 诺、意向、计划 | | | | | 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 | □合并口径第一大股东及其一致行动人（仅适用 ...

证券代码：688377 证券简称：迪威尔 公告编号：2025-024 南京迪威尔高端制造股份有限公司 股东减持股份结果公告 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、准确性和完整性依法承担法律 责任。 重要内容提示： 股东持股的基本情况 本次减持计划实施前，南京南迪威尔企业管理咨询有限公司（以下简称"南 迪咨询"）持有南京迪威尔高端制造股份有限公司（以下简称"公司"）股份 2,617,500 股，占公司总股本的 1.34%；南迪咨询为公司员工持股平台，为公司 实际控制人控制的企业。公司董事、高级管理人员张洪先生持有公司股份 6,100,000 股，占公司总股本的 3.13%。 南迪咨询于 2025 年 9 月 1 日至 9 月 22 日通过集中竞价交易方式减持公司 598,500 股人民币普通股股份，占公司总股本的 0.31%；张洪先生于 2025 年 9 月 1 日至 9 月 24 日通过集中竞价交易方式（含盘后固定价格交易，下同）减持 公司 1,000,000 股人民币普通股股份，占公司总股本的 0.51%。本次减持计划实 施完毕。 | ...

证券代码：688377 证券简称：迪威尔 公告编号：2025-025 南京迪威尔高端制造股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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 投资者可于 2025 年 10 月 10 日 （星期五） 至 10 月 16 日 （星期四）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@nj-develop.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。 南京迪威尔高端制造股份有限公司（以下简称"公司"）已于 2025 年 8 月 28 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 10 月 17 日 （星期五） 11:00-12:00 举行 2025 年半年度业绩说明会，就投资者关心的问题进行交流。 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 20 ...

Market Overview - The specialized equipment sector experienced a slight decline of 0.11% on September 25, with Zhongchuang Zhiling leading the losses [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index rose by 0.67% to 13445.9 [1] Top Performers - The following companies showed significant gains: - Diweier (688377) increased by 11.59% to a closing price of 38.72, with a trading volume of 85,400 shares and a transaction value of 317 million [1] - Zhongjie Resources (002021) rose by 10.14% to 3.04, with a trading volume of 548,500 shares and a transaction value of 163 million [1] - Hezhuan Intelligent (603011) gained 9.98% to 20.05, with a trading volume of 311,400 shares and a transaction value of 621 million [1] Underperformers - The following companies faced notable declines: - Zhongchuang Zhiling (601717) fell by 6.86% to 25.79, with a trading volume of 852,500 shares and a transaction value of 224.5 million [2] - Kexin Electromechanical (300092) decreased by 6.53% to 18.18, with a trading volume of 350,000 shares and a transaction value of 648 million [2] - Lihexing (301013) dropped by 5.59% to 26.70, with a trading volume of 442,000 shares and a transaction value of 1.209 billion [2] Capital Flow - The specialized equipment sector saw a net outflow of 775 million from institutional investors, while retail investors contributed a net inflow of 1.075 billion [2][3] - Notable capital movements included: - Yingweike (002837) had a net inflow of 453 million from institutional investors, while it faced a net outflow of 493 million from speculative funds [3] - Hezhuan Intelligent (603011) experienced a net inflow of 232 million from institutional investors, but a net outflow of 124 million from speculative funds [3]