Investment Rating - The report maintains a "Buy" rating for the company [2] Core Views - The company reported a revenue of 2.462 billion yuan for 2024, reflecting a year-on-year growth of 6.08%, with a net profit of 323 million yuan, up 1.84% year-on-year, indicating performance in line with expectations [5][8] - In Q4 2024, the company achieved a revenue of 628 million yuan, a year-on-year increase of 7.95%, while the net profit reached 96 million yuan, up 17.36% year-on-year [5][8] - The report highlights the resilience of the company's revenue growth despite a weak demand environment in the machine tool industry, with a notable improvement in profit margins in Q4 2024 [8] Financial Data and Profit Forecast - The total revenue for 2024 is projected at 2.462 billion yuan, with a year-on-year growth rate of 6.1% expected for 2025 and 15.0% for 2026 [7] - The net profit forecast for 2024 is adjusted to 323 million yuan, with projections of 390 million yuan for 2025 and 481 million yuan for 2026 [7][8] - The report indicates a slight decrease in the profit forecast for 2024 while maintaining the forecasts for 2025 and 2026, with corresponding PE ratios of 20, 17, and 13 for the years 2024, 2025, and 2026 respectively [8] Industry Insights - The metal processing machine tool industry is expected to see stable growth, with production value projected at 205 billion yuan in 2024, a year-on-year increase of 5.1% [8] - The report notes a significant trade surplus in the machine tool sector, with exports increasing by 4% in 2024, reflecting the growing competitiveness of domestic products [8] - The company is positioned to benefit from domestic demand recovery and ongoing international expansion, with overseas revenue accounting for approximately 15% of total revenue in the first three quarters of 2024 [8]

Financial Performance - Total operating revenue for 2024 reached ¥2,462,138,135.21, an increase of 6.08% compared to the previous year[4] - Net profit attributable to shareholders of the parent company was ¥323,498,365.92, reflecting a growth of 1.84% year-on-year[4] - The net profit attributable to the parent company after deducting non-recurring gains and losses was ¥275,104,106.94, a slight decrease of 0.29% year-on-year[4] - Basic earnings per share rose to ¥0.99, a 2.06% increase from ¥0.97 in the previous year[4] - The weighted average return on net assets decreased by 1.78 percentage points to 19.35%[4] Assets and Equity - Total assets at the end of the reporting period amounted to ¥3,948,670,858.11, representing an 8.10% increase from the beginning of the year[5] - Shareholders' equity attributable to the parent company increased by 7.96% to ¥1,735,503,704.66[5] Company Strategy and Outlook - The company focused on R&D investment, product technology iteration, and upgrading to enhance product performance and market competitiveness[7] - The company maintained a steady development trend despite a complex external environment[7] - The financial data presented are preliminary and unaudited, with final figures to be disclosed in the 2024 annual report[2]

纽威数控装备（苏州）股份有限公司 舆情管理制度 纽威数控装备（苏州）股份有限公司 舆情管理制度 第一章 总则 第一条 为进一步提高纽威数控装备（苏州）股份有限公司（以下简称"公 司"）应对各类舆情的能力，建立快速反应和应急处置机制，及时、妥善处理各 类舆情对公司股价、商业信誉及正常生产经营活动造成的影响，切实保护投资者 合法权益，根据《中华人民共和国公司法》、《上海证券交易所科创板股票上市规 则》、《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》和 《纽威数控装备（苏州）股份有限公司章程》（以下简称"《公司章程》"）的规定， 制定本规则。 第二条 本制度所称舆情包括： （一）网络、报刊、电视等媒体对公司进行的负面报道； （二）社会上存在的已经或者将给公司造成不良影响的传言或信息； （三）可能或者已经影响社会公众投资者投资取向，造成股价异常波动的信 息； （四）其他涉及公司信息披露，可能对公司股票及其衍生品交易价格产生较 大影响的信息。 第三条 舆情信息的分类： （一）重大舆情：指传播范围较广，严重影响公司公众形象或正常经营活动， 使公司已经或可能遭受损失，已经或可能造成公司股票及其衍生品交易 ...

Group 1: Financial Performance - The company reported a revenue of 1.834 billion CNY for the first three quarters, representing a year-on-year increase of 5.45% [3] - Net profit for the same period was 228 million CNY, ranking among the top in the domestic metal cutting machine tool sector [3] - R&D investment amounted to 87.8614 million CNY, accounting for 4.79% of total revenue [3] Group 2: Product Development and Innovation - In 2024, the company plans to focus on large-scale general markets, enhancing product reliability, cost-effectiveness, and adaptability through modular and refined design concepts [3] - The company has obtained 28 new patents in 2024, including 6 invention patents, 17 utility model patents, and 4 design patents [3] - New product developments include five-axis milling and turning composite machining centers and new generation five-axis vertical machining centers [3] Group 3: Industry Overview - The domestic machine tool industry experienced stable economic operations in 2024, with total industry revenue of 838.7 billion CNY, a year-on-year decrease of 5.9% [6] - The metal cutting machine tool sector saw a growth of 7.7%, with a production output of 567,000 units, reflecting a year-on-year increase of 7.4% [6] - The CNC rate for domestic metal cutting machine tools stands at 45.5%, indicating significant growth potential compared to developed countries [6] Group 4: Market Dynamics and Localization - The domestic mid-range market has achieved basic localization, while high-end machine tools still rely on foreign brands due to insufficient domestic production [4][7] - In the first ten months of 2024, imports of metal cutting machine tools reached 3.93 billion USD (approximately 280 billion CNY), highlighting substantial potential for domestic substitution [7] - The company is committed to enhancing core component compatibility and developing high-end CNC machine tools to meet industry demands [7]

Group 1: Company Overview and Product Development - The company has established a dedicated department for the new energy vehicle (NEV) sector, focusing on specialized machine tools for over 30 types of NEV parts [3] - Key products include high-performance horizontal lathes and multi-axis CNC vertical lathes designed for components like motor shafts and brake discs [3][4] - The company emphasizes the rapid technological advancements in the NEV industry and collaborates with leading clients to develop high-end machine models [4] Group 2: Industry Applications and Future Outlook - The five-axis machine tools are primarily used in civil aviation, NEVs, and complex mold processing, with ongoing R&D to enhance performance [5] - The aerospace sector is identified as a significant growth area, with plans to invest in specialized equipment for complex and high-hardness components [5][6] - The company is developing high-end five-axis machining centers and continues to increase R&D investment in this field [5] Group 3: Core Component Development and Market Strategy - A dedicated R&D department has been established to develop core components such as electric spindles and gearboxes, enhancing product performance and reliability [6] - The company is committed to increasing its intrinsic value and competitiveness, aiming to provide better returns for investors [6][7] - Historical profit distribution has been consistent, with dividends representing 48.45%, 49.83%, and 61.70% of net profits over the past three years [7]

Group 1: Dividend Policy and Shareholder Returns - The company has maintained a high dividend payout policy since its listing in 2021, distributing profits that accounted for 48.45%, 49.83%, and 61.70% of the net profit attributable to ordinary shareholders in the last three years [2] - Future plans include balancing company development and shareholder returns, aiming for a sustainable and scientific return mechanism [2] Group 2: New Product Development - In 2024, the company launched over 30 new products, including: - PME2030DUT: A dual-beam five-axis gantry machining center for the new energy vehicle industry - VNL320DF: A CNC vertical lathe primarily for the hydrogen energy sector - VM450FA/VM650FA: Next-generation five-axis vertical machining centers for aerospace applications - NWM-SCE28: A high-torque electric spindle for efficient processing of automotive parts [3][4] - Sales of new products have already reached dozens of units for models like VNL320DF, VM450FA, VM650FA, and NWM-SCE28 [4] Group 3: R&D Focus and Strategy - The company is committed to independent R&D and technological innovation, focusing on composite, multi-axis, and automated processing lines [4] - Emphasis on high speed, precision, efficiency, intelligence, and environmental sustainability in product development [4] - Aiming to reduce reliance on imported components and enhance competitiveness through standardized and modular design [4] Group 4: Expansion and Production Capacity - The fourth phase of the company's project is progressing smoothly, with the main structure expected to be completed by the end of 2024 and production to commence in the first half of 2025 [5] - The designed capacity for the fourth phase is 700 million RMB, focusing on high-end intelligent CNC equipment and core functional components [5] Group 5: Market Strategy and M&A - The company is considering market-oriented mergers and acquisitions to optimize resource allocation and enhance competitiveness [5] - Any significant developments will be disclosed in accordance with relevant regulations [5]

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company's revenue shows steady growth, but net profit has slightly declined due to price competition [2] - The company is actively expanding its domestic and international machine tool markets, although overall market demand remains weak [2] - The company's gross margin has slightly decreased, and the sales/management expense ratio has improved while R&D investment continues to increase [3] - The company has a strong order backlog, indicated by a 21.12% increase in contract liabilities compared to the end of 2023 [4] - R&D investment is expected to enhance competitiveness, with a projected capacity release in 2024 that could generate nearly 1.2 billion yuan in additional output [4] - The profit forecast for 2024-2026 is maintained at 334 million, 390 million, and 457 million yuan respectively, with corresponding P/E ratios of 17, 14, and 12 times [4] Revenue and Profitability - In the first three quarters of 2024, the company achieved revenue of 1.834 billion yuan, a year-on-year increase of 5.45%, while net profit was 228 million yuan, a decrease of 3.53% [2] - The gross margin for the first three quarters was 25.47%, down by 1.01 percentage points year-on-year [3] - The sales net profit margin was 12.41%, also reflecting a decline [3] R&D and Capacity Expansion - R&D expenses increased by 7.38% year-on-year to 88 million yuan in the first three quarters of 2024 [3] - The company has made significant progress in its IPO-funded projects, with an expected full production capacity in 2024 [4] Financial Metrics - The company's total revenue is projected to reach 2.519 billion yuan in 2024, with a year-on-year growth rate of 8.52% [1] - The latest diluted EPS is forecasted to be 1.02 yuan per share for 2024 [1]

中信建投证券股份有限公司关于 纽威数控装备（苏州）股份有限公司募集资金投资 项目结项并将节余募集资金永久补充流动资金的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"或"保荐机构"） 作为纽威数控装备（苏州）股份有限公司（以下简称"纽威数控"、"公司"）首 次公开发行股票并在科创板上市的保荐机构，根据《证券发行上市保荐业务管理 办法》《上海证券交易所科创板股票上市规则》《上市公司监管指引第 2 号——上 市公司募集资金管理和使用的监管要求》等有关规定，就纽威数控募集资金投资 项目结项并将节余募集资金永久补充流动资金的事项进行了核查，核查情况如 下： 一、募集资金基本情况 根据中国证券监督管理委员会（以下简称"证监会"）出具的《关于同意纽 威数控装备（苏州）股份有限公司首次公开发行股票注册的批复》（证监许可 [2021]2594 号），公司获准首次向社会公开发行人民币普通股 8,166.6700 万股， 每股面值人民币 1.00 元，每股发行价为人民币 7.55 元，合计募集资金人民币 61,658.36 万元，扣除发行费用人民币 4,427.99 万元（不含税）后，募集资金净 额为人民币 57,2 ...

证券代码：688697 证券简称：纽威数控 公告编号：2024-025 纽威数控装备（苏州）股份有限公司 关于召开 2024 年半年度暨第三季度 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：2024 年 11 月 14 日(星期四) 下午 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： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 11 月 07 日(星期四) 至 11 月 13 日(星期 三)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 2024 年 08 月 29 日发布公司 2024 年半年度报告，并于 2024 年 10 月 30 日 发布公司 2024 年第三季度报告 ...

证券代码：688697 证券简称：纽威数控 公告编号：2024-023 纽威数控装备（苏州）股份有限公司 第二届监事会第十三次会议决议的公告 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 表决结果：3 票同意；0 票弃权；0 票反对。 具体内容详见公司在上海证券交易所网站（www.sse.com.cn）披 露的《纽威数控装备（苏州）股份有限公司 2024 年第三季度报告》。 (二) 审议通过《纽威数控关于首次公开发行股票募集资金投资 项目结项并将节余募集资金永久补充流动资金的议案》 监事会认为：公司募集资金投资项目"三期中高端数控机床产业 化项目"、" 研发建设项目"已达到预定可使用状态，可予结项， 项目结项后将节余募集资金永久补充流动资金，有利于提升募集资金 使用效率，促进公司发展，符合公司和全体股东的利益，不存在变相 改变募集资金投向和损害股东，特别是中小股东利益的情形。该事项 的内容和决策程序符合《上市公司监管指引第 2 号——上市公司募 集资金管理和使用的监管要求》《上海证券交易所科创板股 ...