Group 1 - The core viewpoint of the news is that Nuwei CNC has seen a stock price increase of 5.78%, reaching 17.56 CNY per share, with a total market capitalization of 8.031 billion CNY as of November 6 [1] - Nuwei CNC specializes in the research, production, and sales of mid-to-high-end CNC machine tools, with its main revenue sources being large processing centers (41.31%), vertical CNC machine tools (33.38%), horizontal CNC machine tools (22.68%), and other machine tools and accessories (2.14%) [1] - The company was founded on April 29, 1997, and went public on September 17, 2021 [1] Group 2 - Among the top ten circulating shareholders of Nuwei CNC, a fund under Ping An Asset Management has reduced its holdings by 474,800 shares, now holding 1,222,400 shares, which represents 0.27% of the circulating shares [2] - The Ping An Advanced Manufacturing Theme Stock Fund A (019457) has achieved a year-to-date return of 79.88%, ranking 30 out of 4,216 in its category, and a one-year return of 84.72%, ranking 8 out of 3,909 [2] - The fund was established on October 24, 2023, with a current size of 1.027 billion CNY [2]

证券代码：688697 证券简称：纽威数控 公告编号：2025-029 纽威数控装备（苏州）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个别及连带责任。 重要内容提示： 会议召开时间：2025 年 11 月 14 日（星期五）16:00-17:00 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 11 月 7 日（星期五）至 11 月 13 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 skdshbgs@newaycnc.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 10 月 30 日发布公司 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 ...

Group 1 - The core viewpoint of the news is that Nuwei CNC has experienced a decline in stock price and fluctuations in financing activities, indicating potential investor concerns [1] - On November 3, Nuwei CNC's stock dropped by 5.12%, with a trading volume of 208 million yuan, and a net financing purchase of 12.03 million yuan [1] - As of November 3, the total balance of margin trading for Nuwei CNC was 172 million yuan, which is 2.33% of its market capitalization, indicating a high level of financing [1] Group 2 - As of September 30, Nuwei CNC reported a total revenue of 2.07 billion yuan for the first nine months of 2025, representing a year-on-year growth of 12.88%, while net profit attributable to shareholders decreased by 9.36% to 206 million yuan [2] - The company has distributed a total of 604 million yuan in dividends since its A-share listing, with 523 million yuan distributed in the past three years [3] - As of September 30, 2025, the number of shareholders increased by 10.47% to 13,500, while the average circulating shares per person decreased by 9.48% to 33,841 shares [2]

Group 1 - The core viewpoint of the news is that Nuwei CNC has experienced a decline in stock price, dropping by 5% to 16.14 CNY per share, with a trading volume of 120 million CNY and a turnover rate of 1.59%, resulting in a total market capitalization of 7.381 billion CNY [1] - Nuwei CNC Equipment (Suzhou) Co., Ltd. specializes in the research, production, and sales of mid-to-high-end CNC machine tools, with its main business revenue composition being: large machining centers 41.31%, vertical CNC machine tools 33.38%, horizontal CNC machine tools 22.68%, other machine tools and accessories 2.14%, and others 0.49% [1] Group 2 - Among the top ten circulating shareholders of Nuwei CNC, a fund under Ping An Fund has reduced its holdings by 474,800 shares, now holding 1.2224 million shares, which accounts for 0.27% of the circulating shares, resulting in an estimated floating loss of approximately 1.0391 million CNY [2] - The Ping An Advanced Manufacturing Theme Stock Initiation A fund (019457) was established on October 24, 2023, with a latest scale of 1.027 billion CNY, achieving a year-to-date return of 83.01% and ranking 25 out of 4216 in its category, while its one-year return is 98.31%, ranking 7 out of 3894 [2]

Investment Rating - The investment rating for the company is "Accumulate" [1] Core Views - The company has shown steady revenue growth, with a year-on-year increase of 12.88% in the first three quarters of 2025, achieving a total revenue of 2.07 billion yuan. However, the net profit attributable to shareholders has faced short-term pressure, decreasing by 9.36% year-on-year to 206 million yuan due to intense price competition and declining gross margins [2][3] - The company's gross profit margin for the first three quarters of 2025 was 20.67%, down 4.79 percentage points year-on-year, indicating short-term pressure on profitability. The net profit margin also decreased to 9.97%, down 2.44 percentage points year-on-year [3] - The company has significantly improved its expense management, with a total expense ratio of 11.06%, down 2.23 percentage points year-on-year, while R&D expenses increased by 14.17% to 100 million yuan in the first three quarters of 2025 [3][4] Revenue and Profit Forecast - The company is expected to achieve total revenue of 2.719 billion yuan in 2025, with a year-on-year growth of 10.43%. The net profit attributable to shareholders is forecasted to be 325.69 million yuan, reflecting a minimal increase of 0.16% [1][11] - The earnings per share (EPS) is projected to remain stable at 0.71 yuan in 2025, with a price-to-earnings (P/E) ratio of 23.86 based on the current price [1][11] R&D and Capacity Expansion - The company is increasing its R&D investments to enhance product competitiveness, focusing on sectors such as new energy vehicles, humanoid robots, and semiconductors. The R&D expenses are expected to continue rising, contributing to the development of new products [4] - The company plans to invest 850 million yuan in the construction of a new high-end intelligent CNC equipment project, which will expand its production capacity and open new growth opportunities [4]

Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of RMB 21.12 [1][5]. Core Insights - The company reported Q3 revenue of RMB 792 million, a year-over-year increase of 17.86% and a quarter-over-quarter increase of 11.63%. However, the net profit attributable to shareholders decreased by 7.95% year-over-year to RMB 76.25 million [1]. - For the first three quarters of 2025, the company achieved a revenue of RMB 2.07 billion, up 12.88% year-over-year, but the net profit decreased by 9.36% year-over-year to RMB 206 million [1]. - The decline in profit is attributed to increased fixed costs from the fourth phase of production and market competition compressing profit margins [1]. Financial Performance - The company's gross margin for Q1-Q3 2025 was 20.67%, down 4.79 percentage points year-over-year, while the net margin was 9.97%, down 2.44 percentage points year-over-year [2]. - In Q3, the gross margin was 21.35%, a decrease of 4.39 percentage points year-over-year but an increase of 1.77 percentage points quarter-over-quarter [2]. - The company has optimized its expense ratio, achieving a total expense ratio of 11.06%, down 2.28 percentage points year-over-year [2]. Product Development - The company is expanding its product line, focusing on high-end equipment and core components, with over 20 new high-end models under development [3]. - Key developments include precision milling and boring machines, vertical and horizontal turning-milling composite processing centers, and specialized machines for the semiconductor industry [3]. Market Strategy - The company aims to address after-sales pain points in the industry by establishing a customized rapid response service system in the domestic market [4]. - A dedicated team of 101 after-sales service personnel has been established, accounting for 6.58% of the total workforce, to enhance customer experience through tailored solutions [4]. Earnings Forecast and Valuation - The forecast for net profit attributable to shareholders for 2025-2027 is RMB 364 million, RMB 441 million, and RMB 500 million, respectively, with corresponding EPS of RMB 0.80, RMB 0.96, and RMB 1.09 [5]. - The company is valued at a PE ratio of 22 times for 2026, leading to a target price of RMB 21.12, reflecting a previous estimate of RMB 20.00 [5].

Core Viewpoint - The company, Nuwei CNC Equipment (Suzhou) Co., Ltd., specializes in the research, development, production, and sales of mid-to-high-end CNC machine tools, with a focus on humanoid robots and high-precision components [2][3][4]. Company Overview - Nuwei CNC is located in Suzhou, Jiangsu Province, and was established on April 29, 1997, with its stock listed on September 17, 2021 [8]. - The main business revenue composition includes: large machining centers (41.31%), vertical CNC machines (33.38%), horizontal CNC machines (22.68%), and other machines and accessories (2.14%) [8]. - The company has developed a series of CNC horizontal lathes specifically for the humanoid robot industry, featuring a 30-degree inclined bed structure and modular design to meet high-precision processing requirements [2]. Financial Performance - For the period from January to September 2025, Nuwei CNC achieved operating revenue of 2.07 billion yuan, representing a year-on-year growth of 12.88%, while the net profit attributable to the parent company was 206 million yuan, a decrease of 9.36% year-on-year [9]. - The company has distributed a total of 604 million yuan in dividends since its A-share listing, with 523 million yuan distributed over the past three years [10]. Market Activity - On October 31, the stock price of Nuwei CNC increased by 2.72%, with a trading volume of 180 million yuan and a turnover rate of 2.32%, bringing the total market capitalization to 7.77 billion yuan [1]. - The stock has seen a net inflow of 16.42 million yuan from major investors today, with a total of 644.20 million yuan in major transactions, accounting for 9.28% of the total trading volume [5][6].

Core Viewpoint - Nuwei CNC is a significant player in the domestic mid-to-high-end CNC machine tool sector, showcasing a full industry chain advantage and high product technology content [1] Group 1: Business Performance - In Q3 2025, Nuwei CNC achieved a revenue of 2.07 billion, ranking 4th among 19 companies in the industry, surpassing the industry average of 1.11 billion and the median of 809 million [2] - The main business composition includes: large processing centers at 528 million (41.31%), vertical CNC machine tools at 427 million (33.38%), horizontal CNC machine tools at 290 million (22.68%), and other machine tools and accessories at 27.32 million (2.14%) [2] - The net profit for the same period was 206 million, ranking 3rd in the industry, exceeding the industry average of 63.57 million and the median of 47.78 million [2] Group 2: Financial Ratios - As of Q3 2025, Nuwei CNC's debt-to-asset ratio was 59.92%, higher than the previous year's 58.92% and the industry average of 45.02%, indicating potential pressure on the company's debt repayment ability [3] - The gross profit margin for Q3 2025 was 20.67%, down from 25.47% in the previous year and below the industry average of 27.38%, suggesting a need for improvement in profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 10.47% to 13,500, while the average number of circulating A-shares held per household decreased by 9.48% to 33,800 [5] - Notable changes among the top ten circulating shareholders include the entry of Guangfa Advantage Growth Stock A with 3.16 million shares and a significant reduction in holdings by Ping An Advanced Manufacturing Theme Stock A by 474,800 shares [5] Group 4: Management Compensation - The chairman, Guo Guoxin, received a salary of 2.0113 million in 2024, a decrease of 12,000 from 2023 [4]

Core Viewpoint - The company, Nuwei CNC Equipment (Suzhou) Co., Ltd., specializes in the research, development, production, and sales of mid-to-high-end CNC machine tools, with a focus on humanoid robots and high-precision components [2][3][4]. Company Overview - Nuwei CNC is located in Suzhou, Jiangsu Province, and was established on April 29, 1997, with its stock listed on September 17, 2021 [8]. - The main business revenue composition includes: large machining centers (41.31%), vertical CNC machines (33.38%), horizontal CNC machines (22.68%), and other machines and accessories (2.14%) [8]. - The company has developed a series of CNC horizontal lathes specifically for the humanoid robot industry, featuring a 30-degree inclined bed structure and modular design to meet high-precision processing requirements [2]. Financial Performance - For the period from January to September 2025, Nuwei CNC achieved operating revenue of 2.07 billion yuan, representing a year-on-year growth of 12.88%, while the net profit attributable to shareholders decreased by 9.36% to 206 million yuan [9]. - The company has distributed a total of 604 million yuan in dividends since its A-share listing, with 523 million yuan distributed over the past three years [10]. Market Activity - On October 30, the stock price of Nuwei CNC fell by 1.84%, with a trading volume of 139 million yuan and a turnover rate of 1.83%, bringing the total market capitalization to 7.564 billion yuan [1]. - The stock has seen a net outflow of 16.5953 million yuan from major investors today, with no significant trend in major holdings observed [5][6].

Core Viewpoint - The company, Nuwei CNC, emphasizes the accuracy and completeness of its quarterly report, ensuring no false statements or significant omissions exist, and holds legal responsibility for the report's content [2][3]. Financial Data Summary - The financial report for the third quarter is unaudited, covering a three-month period from the beginning to the end of the quarter [3]. - The company has announced a capital reserve distribution, increasing the share capital by 0.4 shares for each existing share, with adjustments made to the basic earnings per share for the previous year [3]. Non-Recurring Gains and Losses - The company has identified certain items as non-recurring gains and losses, which are significant, and has provided explanations for these classifications [4]. Shareholder Information - There are no changes reported in the number of shareholders or the top ten shareholders' holdings during the reporting period [5]. Other Important Reminders - No additional significant information regarding the company's operational status during the reporting period is provided [6]. Financial Statements - The company has prepared its consolidated balance sheet, income statement, and cash flow statement for the period ending September 30, 2025, all of which are unaudited [6][7].