证券日报网讯江苏神通（002438）8月1日在互动平台回答投资者提问时表示，截至2025年7月31日，公 司的股东人数为24976户。 ...

Core Insights - The report highlights that nearly all of the over 50 controllable nuclear fusion concept stocks have undergone investor research this year, indicating strong interest in the sector [1] - Several companies have released their performance data for the first half of 2025, with some reporting profit increases while others are facing losses [1] Group 1: Company Research and Performance - Ice Wheel Environment (000811) and Antai Technology (000969) have received over 10 investor research sessions, with Ice Wheel Environment leading with 42 sessions [2] - The total market capitalization of Ice Wheel Environment is 126.66 billion, with a year-to-date increase of 38.05% [2] - Other notable companies include Jiangsu Shentong (002438) with 13 research sessions and a market cap of 69.08 billion, showing a year-to-date increase of 13.13% [2] Group 2: Performance Variability - Companies such as Baoshan Co. (600973) and Yongding Co. (600105) have reported performance increases, while China First Heavy Industries (601106) and others have reported performance losses [1] - The report indicates that the performance of controllable nuclear fusion stocks is varied, with some companies like China Nuclear Power (601985) experiencing a year-to-date decline of 10.35% [2]

Core Viewpoint - The construction of the first commercial controlled nuclear fusion power plant in the U.S. by Helion Energy marks a significant step towards the commercialization of fusion energy, with plans to supply power to Microsoft by 2028 [3][5]. Group 1: Company Developments - Helion Energy has initiated site construction for its controlled nuclear fusion power plant named "Orion" in Chelan County, Washington, which is a crucial milestone for integrating fusion power into the grid [3]. - The company has signed a power purchase agreement with Microsoft to supply 50 MW annually starting in 2028 [5]. - Helion's technology utilizes a magnetic inertial confinement approach, specifically the Field-Reversed Configuration (FRC) method, which is simpler and more cost-effective compared to the Tokamak technology, with construction costs estimated to be only 1/5 to 1/10 of Tokamak systems [5]. Group 2: Industry Context - Other companies in China, such as Hanhai Fusion and Xingneng Xuanguang, are also pursuing similar FRC technology, indicating a growing interest in fusion energy [6]. - A recent industry seminar in Shanghai attracted over 20 companies and nearly 30 financial institutions to discuss the future of controlled nuclear fusion, highlighting its status as a hot topic in the capital market [7]. - Nearly 50 controlled nuclear fusion concept stocks have been actively researched by investors this year, with significant interest in companies like Ice Wheel Environment and Antai Technology, which have received multiple investor inquiries [7]. Group 3: Financial Performance - Several controlled nuclear fusion concept stocks have reported significant earnings growth for the first half of 2025, with Yongding Co. expecting a net profit increase of 731% to 922% year-on-year, primarily due to increased investment income [8]. - Baosheng Co. anticipates a net profit increase of 167.98% to 301.98% for the same period, driven by the market recognition of high-value products [8].

风险提示：以上内容仅供参考，不构成投资建议。股市有风险，投资需谨慎。 江苏神通属于通用设备制造行业，主营业务为阀门及智能装备的研发、生产和销售。公司产品广泛应用 于核电、冶金、化工等领域，是国内领先的阀门制造企业之一。 截至2025年7月30日收盘，江苏神通股价报13.64元，较前一交易日下跌1.80%。当日成交量为14.44万 手，成交金额达1.97亿元。 从资金流向来看，7月30日江苏神通主力资金净流出142.07万元。公司当前市盈率为19.34倍，市净率为 1.96倍。 ...

Group 1 - The core point of the announcement is that Jiangsu Shentong Valve Co., Ltd. has received notification from its controlling shareholder, Ningbo Juyuan Ruili Venture Capital Partnership (Limited Partnership), regarding the release of a portion of its pledged shares [1] - The controlling shareholder, Juyuan Ruili, will release 6,790,000 shares, which accounts for 8.21% of the total shares and 1.34% of the company's total equity [1] - As of the announcement date, the total number of pledged shares by the controlling shareholder is 82,678,557, representing 16.29% of the total shares, with 23,590,000 shares pledged before and 16,800,000 shares after the release [1] Group 2 - The announcement states that there is no risk of forced liquidation or transfer of shares for the pledged shares, and it will not lead to a change in the actual control of the company [1] - The company confirms that the release of the pledged shares does not involve significant asset restructuring or performance compensation obligations, and it will not have a substantial impact on the company's operations or governance [1]

Core Viewpoint - Jiangsu Shentong (002438) announced that its controlling shareholder, Juyuan Ruili, will release the pledge of 6.79 million shares, accounting for 8.21% of its held shares and 1.34% of the company's total share capital [1] Summary by Relevant Sections - **Pledge Release Details** - The release of the pledge will start on September 4, 2024, and the pledge expiration date is July 25, 2025 [1] - The pledgee is Guotai Junan Securities Co., Ltd. [1] - **Current Pledge Status** - As of the announcement date, Juyuan Ruili has cumulatively pledged 16.8 million shares, which represents 20.32% of its held shares and 3.31% of the company's total share capital [1] - **Risk Assessment** - The pledged shares do not pose a risk of forced liquidation or transfer, and there will be no change in the actual control of the company [1]

证券代码：002438 证券简称：江苏神通 公告编号：2025-043 江苏神通阀门股份有限公司 关于控股股东部分股权解除质押的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 江苏神通阀门股份有限公司（以下简称"公司"、"本公司"）近日接到公司 控股股东宁波聚源瑞利创业投资合伙企业（有限合伙）（以下简称"聚源瑞利"） 的通知，获悉聚源瑞利将所持有本公司的部分股份于近日办理了解除质押手续。 具体事项如下： | | 是否为控 | | 占其所 | 占公司 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 股股东或 第一大股 | 本次解除质 押股份数量 | 持股份 比例 | 总股本 比例（%） | 质押开 | 质押到期 | | 质权人 | | 名称 | 东及其一 | （股） | （%） | | 始日期 | 日期 | | | | | 致行动人 | | | | | | | | | 聚源 瑞利 | 是 | 6,790,000 | 8.21 | 1.34 | 2024年9 月 ...

Core Viewpoint - Jiangsu Shentong Valve Co., Ltd. is revising its Articles of Association to align with the latest legal regulations and improve corporate governance [1][2][3]. Summary by Sections Reasons and Basis for Revision - The revision aims to ensure compliance with the latest laws and regulations, enhance corporate governance, and streamline operational mechanisms [1]. Specific Amendments to the Articles of Association - The original powers of the Supervisory Board will be transferred to the Audit Committee of the Board of Directors, leading to the abolition of related rules [1]. - The registered capital remains at RMB 507.537461 million [2]. - The legal representative will be the President, and the company will bear civil liability for actions taken by the legal representative [2][3]. - Shareholders are liable for the company's debts only to the extent of their subscribed shares [3]. - The Articles of Association will become legally binding upon effectiveness, governing the relationships among the company, shareholders, and management [4]. Rights and Obligations of Shareholders - Shareholders have the right to sue the company and its directors, supervisors, and senior management for violations of the Articles [4][5]. - The definition of senior management has been clarified to include the President, Vice Presidents, Board Secretary, and Chief Financial Officer [5]. Issuance and Transfer of Shares - The issuance of shares will adhere to principles of openness, fairness, and justice, ensuring equal conditions for all shares of the same category [5][6]. - The total number of issued shares is confirmed to be 507.537461 million, with a par value of RMB 1 per share [5][6]. Financial Assistance and Capital Increase - The company will not provide financial assistance for acquiring its shares, except for employee stock ownership plans [5][6]. - The company can increase capital through various means, subject to shareholder approval [6][7]. Shareholder Meetings and Voting - The company will hold annual and extraordinary shareholder meetings, with provisions for remote participation [34][35]. - Shareholders must provide proof of shareholding to access company materials [34][35]. Legal Compliance and Responsibilities - The company and its controlling shareholders must comply with laws and regulations to protect the interests of all shareholders [40][41]. - The Articles outline the responsibilities of controlling shareholders to avoid conflicts of interest and ensure transparency [40][41].

Core Viewpoint - Jiangsu Shentong Valve Co., Ltd. is preparing for the election of its seventh board of directors, with a proposed structure of 9 directors, including 5 non-independent directors, 3 independent directors, and 1 employee representative director [1][2]. Board Composition - The seventh board will consist of 9 members: 5 non-independent directors, 3 independent directors, and 1 employee representative [1][2]. - The independent directors' candidates include Xiao Xiao, Ma Jing, and Shi Bingfeng, with Xiao Xiao and Ma Jing already holding independent director qualifications [2][12][14]. Election Process - The election of the new board will be conducted at the company's first extraordinary shareholders' meeting in 2025, using a cumulative voting system [2]. - The qualifications and independence of the independent director candidates must be approved by the Shenzhen Stock Exchange before being submitted for shareholder voting [2]. Current Board's Performance - The current sixth board of directors will continue to fulfill their duties until the new board is appointed, having contributed positively to the company's operations and development [3]. Candidate Profiles - **Han Li**: Born in 1987, holds significant positions and honors, including being the actual controller of the company, with indirect and direct holdings of 76.957283 million shares and 9.7 million shares respectively [4][6]. - **Wu Jianxin**: Born in 1965, has extensive experience in the valve industry, currently holding 41.111592 million shares [5][6]. - **Wang Yi**: Born in 1983, has held various investment management roles, with indirect and direct holdings of 0.460636 million shares and 0.0618 million shares respectively [7][8]. - **Zhao Wenhao**: Born in 1983, currently serves as vice president, holding 0.005 million shares [8][9]. - **Zhu Guiying**: Born in 1979, a certified public accountant with no current shareholding [10][11]. - **Xiao Xiao**: Born in 1984, holds a PhD in accounting, currently an independent director for another company [12]. - **Ma Jing**: Born in 1979, holds a PhD in world economics, currently an independent director for another company [13]. - **Shi Bingfeng**: Born in 1958, has a master's degree and extensive experience in business management, currently does not hold shares but is committed to obtaining independent director qualifications [15][16].

Summary of Key Points Core Viewpoint - Jiangsu Shentong Valve Co., Ltd. plans to provide a joint liability guarantee for its wholly-owned subsidiary, Ruifan Energy Technology Co., Ltd., to secure a credit facility of up to RMB 600 million from commercial banks for operational needs [1][2]. Group 1: Guarantee Overview - The company intends to apply for a credit limit of up to RMB 600 million, with a one-year term and the ability to recycle the credit [1]. - The guarantee will be provided to multiple banks, including Zhejiang Commercial Bank, China Merchants Bank, and others [1]. Group 2: Financial Condition of the Guaranteed Entity - As of December 31, 2024, Ruifan Energy had total assets with a debt ratio of 71.86%, indicating a high level of leverage [2]. - Ruifan Energy is not a dishonest executor and has a good credit status [2]. Group 3: Guarantee Contract Details - The guarantee will be a joint liability guarantee with a one-year term [3]. - The specific details of the guarantee will be finalized in a formal agreement, which has yet to be signed [3]. Group 4: Board and Supervisory Committee Opinions - The board believes that the financial risks associated with the guarantee are manageable and will not affect the company's normal operations [3]. - The supervisory committee supports the guarantee, stating that the company can effectively monitor the subsidiary's operations and ensure proper use of funds [3]. Group 5: Cumulative External Guarantee Information - Including this guarantee, the total approved external guarantee amount is RMB 1.5 billion, which is 42.68% of the company's audited net assets as of December 31, 2024 [4]. - The actual external guarantee balance is RMB 289.39 million, representing 8.23% of the company's audited net assets [4]. - The company currently has no overdue external guarantees or guarantees involved in litigation [4].