一、会议召开和出席情况 证券代码：688697 证券简称：纽威数控 公告编号：2025-017 纽威数控装备（苏州）股份有限公司 2024年年度股东大会决议公告 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： 本次会议是否有被否决议案：无 （一） 股东大会召开的时间：2025 年 5 月 23 日 （二） 股东大会召开的地点：苏州高新区通安浔阳江路 69 号公司会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股 东及其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 70 | | --- | --- | | 普通股股东人数 | 70 | | 2、出席会议的股东所持有的表决权数量 | 213,422,340 | | 普通股股东所持有表决权数量 | 213,422,340 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比例（%） | 65.3333 | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 65.3333 | （四） 表决方式是否符合《 ...

二、监事会会议审议情况 证券代码：688697 证券简称：纽威数控 公告编号：2025-019 纽威数控装备（苏州）股份有限公司 第三届监事会第一次会议决议的公告 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 纽威数控装备（苏州）股份有限公司（以下简称"公司"）第三届 监事会第一次会议于 2025 年 5 月 13 日通过电子邮件方式发出通知， 并于 2025 年 5 月 23 日在苏州高新区通安浔阳江路 69 号公司会议室 以现场方式召开。本次会议由严琴女士召集，经全体监事共同推举， 本次会议由严琴女士主持，应出席监事 3 人，实际出席监事 3 人。全 体监事认可本次会议的通知时间、议案内容等事项，本次监事会的召 集和召开程序符合《中华人民共和国公司法》《中华人民共和国证券 法》等法律法规及《纽威数控装备（苏州）股份有限公司章程》《纽 威数控装备（苏州）股份有限公司监事会议事规则》的相关规定，会 议决议合法有效。 (一) 审议通过《关于选举第三届监事会主席的议案》 全体监事一致同意严琴女士担任第 ...

Core Viewpoint - Nuwei CNC reported steady growth in 2024, with revenue of 2.462 billion yuan, a year-on-year increase of 6.08%, and a net profit of 325 million yuan, up 2.36% year-on-year [1] Financial Performance - The company achieved a revenue of 1.08 billion yuan from large machining centers, a year-on-year increase of 12.64%, with a gross margin of 22.48%, up 0.57 percentage points [2] - Revenue from vertical CNC machine tools was 746 million yuan, a year-on-year increase of 15.44%, with a gross margin of 21.12%, down 2.17 percentage points [2] - Revenue from horizontal CNC machine tools was 604 million yuan, a year-on-year decrease of 12.71%, with a gross margin of 28.22%, down 0.83 percentage points [2] - Domestic revenue reached 2.107 billion yuan, a year-on-year increase of 31.34%, while overseas revenue was 342 million yuan, a year-on-year decrease of 51.42% [2] R&D and Capacity Expansion - R&D expenses for 2024 were 112 million yuan, a year-on-year increase of 10.35%, with 296 R&D personnel, accounting for 21.29% of total employees [3] - The company plans to invest at least 850 million yuan in the fifth phase of high-end intelligent CNC equipment project, with a production facility of approximately 47,500 square meters expected to be completed by June 2027 [3] Industry Outlook - The metal cutting machine tool industry is projected to have a production value of 121.8 billion yuan in 2024, a year-on-year increase of 6.4%, with a profit margin of 6.5%, down 0.7 percentage points [4] - The company has shown strong performance despite low industry growth, with significant revenue increases in large machining centers and vertical CNC machine tools [4] - The implementation of supportive policies and the rapid development of sectors like new energy vehicles and artificial intelligence are expected to boost market demand for machine tools [4] Profit Forecast - Revenue projections for the company are 2.742 billion yuan in 2025, 3.075 billion yuan in 2026, and 3.473 billion yuan in 2027, with corresponding net profits of 365 million yuan, 412 million yuan, and 471 million yuan [5]

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the market [7][8]. Core Insights - The company has demonstrated steady growth in its performance, with a revenue of 2.462 billion yuan in 2024, reflecting a year-on-year increase of 6.08%. The net profit attributable to the parent company was 325 million yuan, up 2.36% year-on-year [1][7]. - The company is focusing on enhancing its product competitiveness through increased R&D investment, which reached 112 million yuan in 2024, a 10.35% increase from the previous year [3][7]. - The company is expanding its production capacity with a planned investment of at least 850 million yuan for a new high-end intelligent CNC equipment project, expected to be completed by June 2027 [3][7]. Performance Overview - The company's revenue from large machining centers was 1.08 billion yuan in 2024, up 12.64% year-on-year, while vertical CNC machine revenue was 746 million yuan, up 15.44% year-on-year. However, horizontal CNC machine revenue decreased by 12.71% to 604 million yuan [2][7]. - Domestic revenue significantly increased to 2.107 billion yuan, a 31.34% rise, while overseas revenue fell to 342 million yuan, down 51.42% [2][7]. Financial Projections - Revenue projections for 2025, 2026, and 2027 are estimated at 2.742 billion yuan, 3.075 billion yuan, and 3.473 billion yuan, respectively, with corresponding net profits of 365 million yuan, 412 million yuan, and 471 million yuan [6][7]. - The report anticipates a continued growth trend, with a projected revenue growth rate of 11% in 2025, 12% in 2026, and 13% in 2027 [6][7]. Market Context - The overall market for metal cutting machine tools is expected to benefit from policy support and the rapid development of sectors such as new energy vehicles and artificial intelligence, which may enhance future demand for machine tools [7].

Group 1 - The core business of the company is the research, production, and sales of mid-to-high-end CNC machine tools, including large machining centers, vertical CNC machines, and horizontal CNC machines [2] - As of March 31, 2025, the company had 11,793 shareholders, a decrease of 431 from the previous period, with an average holding value of 352,800 yuan and an average holding quantity of 27,600 shares [1] - The company's latest quarterly report for Q1 2025 shows a revenue of 569 million yuan, a year-on-year increase of 3.80%, and a net profit of 61.36 million yuan, a year-on-year decrease of 11.78%, with a gross profit margin of 21.11% [2] Group 2 - The company's current rolling price-to-earnings (PE) ratio is 19.52, while the average PE ratio for the general equipment industry is 79.52, and the industry median is 41.26, placing the company at the 68th position in the industry ranking [1][3] - The company has received multiple honors, including recognition as a Jiangsu Province Intelligent Manufacturing Factory and a Jiangsu Province Five-Star Cloud Enterprise, among others [2]

Group 1 - The company, Nuwei CNC (688697.SH), has developed customized CNC machine tools specifically for the humanoid robot industry, focusing on the processing characteristics of key components such as screws and reducers [1] - The CNC machine tools are primarily used for the machining of core parts like harmonic reducers (stiff wheels, end caps), hollow cup motor housings, brakes, planetary roller screws, and nuts [1] - A dedicated team has been established by the company to collaborate with end users in the research and development of specialized machines and processing technologies [1]

Group 1 - The manufacturing industry is experiencing weak sentiment, leading to short-term pressure on company performance, but counter-cyclical policies are expected to drive marginal improvement in the manufacturing sector [1] - The company plans to initiate the fifth phase of its high-end intelligent CNC equipment project, focusing on high-end products such as CNC vertical lathes, CNC grinding machines, and specialized machines [1][3] Group 2 - Due to the weak industry sentiment, the company's EPS estimates for 2025 and 2026 have been lowered to 1.1 and 1.31 yuan respectively, with a new estimate for 2027 at 1.48 yuan [2] - The company is a leading player in the R&D, production, and sales of mid-to-high-end CNC machine tools, covering a wide range of products including large machining centers and various CNC machine tools [2] - For 2024, the company's revenue is projected to be 2.462 billion yuan, a year-on-year increase of 6.08%, with a net profit of 325 million yuan, up 2.36% year-on-year [2] - The company's gross margin and net margin for 2024 are expected to be 23.68% and 13.21%, respectively, showing a year-on-year decline of 2.78 percentage points and 0.48 percentage points [3] - The company is increasing R&D investment to upgrade product technology and is actively entering emerging sectors such as new energy vehicles and humanoid robots [3] - The fifth phase of the high-end intelligent CNC equipment project will involve the construction of approximately 47,500 square meters of production facilities, expected to be completed and operational by June 2027 [3]

纽威数控装备（苏州）股份有限公司 2024 年年度股东大会会议资料 证券代码：688697 证券简称：纽威数控 纽威数控装备（苏州）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 1 | 2024 | 年年度股东大会会议议程 3 | | --- | --- | | 议案一：关于 | 年度董事会工作报告的议案 5 2024 | | 议案二：关于 | 2024 年度监事会工作报告的议案 6 | | 议案三：关于 | 2025 年度董事薪酬方案的议案 7 | | 议案四：关于 | 2025 年度监事薪酬方案的议案 8 | | 议案五：关于 | 2024 度财务决算报告的议案 9 | | 议案六：关于 | 2024 年度报告及其摘要的议案 10 | | 议案七：关于 | 2024 度利润分配及资本公积转增股本预案的议案 11 | | | 议案八：关于续聘会计师事务所的议案 13 | | | 议案九：关于投资五期高端智能数控装备项目的议案 14 | | | 议案十：关于选举董事的议案 15 | | | 议案十一：关于选举独立董事的议案 16 | | | 议案十二：关于选举监事的议案 17 | | 事项十 ...

Investment Rating - The report initiates coverage with an "Accumulate" rating for the company [1] Core Views - The company is positioned to successfully enter the humanoid robot component processing market due to its comprehensive technical reserves, which are expected to drive incremental growth [1] - The company is focusing on R&D, with an investment ratio of 4.57% in 2024, maintaining over 4% in recent years, and plans to expand its product offerings in the humanoid robot sector [2] - The company anticipates steady revenue growth, projecting revenues of 2.816 billion, 3.169 billion, and 3.535 billion yuan for 2025, 2026, and 2027 respectively, with corresponding net profits of 377 million, 430 million, and 490 million yuan [1][4] Financial Summary - For 2024, the company achieved a revenue of 2.462 billion yuan, a year-on-year increase of 6.08%, and a net profit of 325 million yuan, up 2.36% year-on-year [4] - The company expects to see a revenue increase of 14.38% in 2025, followed by 12.54% and 11.52% in 2026 and 2027 respectively [1][12] - The projected earnings per share (EPS) are 1.00 yuan for 2024, increasing to 1.50 yuan by 2027 [12][13] - The company maintains a healthy net profit margin, projected to be 13.2% in 2024 and gradually increasing to 13.9% by 2027 [12][13]

证券代码：688697 证券简称：纽威数控 公告编号：2025-016 纽威数控装备（苏州）股份有限公司 关于召开 2024 年度暨 2025 年第一季度 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个别及连带责任。 重要内容提示： 会议召开时间：2025 年 05 月 14 日（星期三）14:00-15:00 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 投资者可于 2025 年 05 月 07 日（星期三）至 05 月 13 日（星期 二）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 skdshbgs@neway.com.cn 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。 纽威数控装备（苏州）股份有限公司（以下简称"公司"）已于 2025 年 04 月 25 日发布公司 2024 年度报告，并于 2025 年 04 月 29 日发布 公司 2025 年第一季度报告。 ...