股票代码：002871 股票简称:伟隆股份 公告编号：2025-104 青岛伟隆阀门股份有限公司 关于控股股东、实际控制人的一致行动人减持完成的公告 | 股东名称 | 减持 | 减持期间 | 减持均 | 减持股数 | 减持比例（%） | 减持比例（%） | | --- | --- | --- | --- | --- | --- | --- | | | 方式 | | 价（元） | （股） | （剔除前） | （剔除后） | | 青岛惠隆企业 | 集中 | 2025.9.1-20 | 17.84 | 1,892,812 | 0.7516% | 0.7664% | | 管理有限公司 | 竞价 | 25.9.25 | | | | | | | 合计 | | | 1,892,812 | 0.7516% | 0.7664% | 控股股东、实际控制人范庆伟先生、范玉隆先生及其一致行动人青岛惠隆 企业管理有限公司保证向本公司信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证，公告内容与信息披露义务人提供的信息一 致。 青岛伟隆阀门股份有限公司（以下简称"公司"）于 2025 年 ...

Core Viewpoint - The controlling shareholder and actual controller's concerted action partner, Qingdao Huilong Enterprise Management Co., Ltd., plans to reduce its stake in Weilon Co., Ltd. through a centralized bidding process from September 1 to September 25, 2025 [1] Summary by Relevant Sections - **Share Reduction Details** - A total of 1.8928 million shares will be sold at an average price of 17.84 yuan, representing 0.7516% of the total share capital [1] - After excluding repurchased shares, the reduction accounts for 0.7664% of the total share capital [1] - **Post-Reduction Shareholding** - Following the reduction, the remaining shareholding will be 8.8642 million shares, which constitutes 3.52% of the total share capital [1] - Excluding repurchased shares, the remaining stake will be 3.59% of the total share capital [1]

Investment Rating - The report initiates coverage with a "Strong Buy" investment rating for the company [1][9]. Core Insights - The company specializes in the export of civil valves and has established a global presence, benefiting from the expansion of global AIDC capital expenditures and the increasing penetration of liquid cooling systems [1][9]. - The company has shown steady revenue growth, with a projected revenue increase from 5.78 billion yuan in 2024 to 11.75 billion yuan by 2027, reflecting a compound annual growth rate (CAGR) of 31% [8][9]. - The company has a clear and stable shareholding structure, with the main shareholder holding 55.83% of the shares, ensuring consistent strategic decision-making [32][37]. Company Overview - The company has over 30 years of experience in the civil valve industry, focusing on fire valves, water valves, and natural gas valves, with a complete SKU range [6][13]. - The company has obtained certifications from multiple countries, exporting to over 70 countries and regions, and is the sole supplier of fire valves for Saudi Aramco in Asia [6][13]. - The company’s revenue from exports is expected to account for approximately 76% in 2024 [6]. Financial Performance - From 2020 to 2024, the company's revenue grew from 345 million yuan to 578 million yuan, with a CAGR of 14%, while net profit increased from 58 million yuan to 131 million yuan, with a CAGR of 22.6% [6][8]. - The company's gross margin improved from 34.53% to 40.34% and net margin from 16.82% to 22.65% during the same period, indicating enhanced profitability [6][30]. Market Characteristics - The global valve market was approximately 73 billion USD in 2021 and is projected to reach 90.5 billion USD by 2026, driven by increasing demand in healthcare, pharmaceuticals, and smart city developments [6][45]. - The valve market is characterized by a fragmented competitive landscape, with major players concentrated in the US, Japan, and Germany, while domestic companies often focus on niche segments [39][51]. Data Center Demand - The increasing penetration of liquid cooling systems in data centers is expected to drive significant growth in valve demand, as these systems require precise flow and temperature control [6][9]. - The complexity of liquid cooling systems is leading to a higher demand for high-precision control valves, which will increase the overall value of valve applications in this sector [6][9]. Competitive Landscape - The valve manufacturing industry is dominated by established players in the US, Japan, and Germany, while the domestic market remains fragmented with many small-scale companies [51][57]. - The company is positioned to capture market share due to its competitive pricing and shorter delivery times compared to foreign brands, alongside its extensive project experience in overseas markets [9][51].

Investment Rating - The report initiates coverage on the company with an "Accumulate" rating [2][8]. Core Views - The company has a strong foothold in the valve market, particularly in overseas markets, and is a leader in the data center valve segment [6][31]. - The company has shown steady revenue growth, with a projected increase in revenue and net profit over the next few years [39]. - Key growth drivers include projects in Saudi Arabia, domestic smart water business, and a leading position in data center valves [6][8][36]. Summary by Sections Company Overview - The company has been in the valve market for over 30 years, with significant experience in research and development, brand influence, and product quality [6][10]. - It has a market capitalization of approximately 4.36 billion CNY and a circulating market value of about 2.66 billion CNY [4]. Financial Performance - In the first half of 2025, the company achieved revenue of 272 million CNY, a year-on-year increase of 12.86%, and a net profit of 59 million CNY, up 15.14% [6][13]. - The company’s revenue is expected to grow from 669 million CNY in 2025 to 960 million CNY by 2027, with net profit projected to increase from 152 million CNY to 241 million CNY in the same period [39][40]. Market Position and Growth Drivers - The company has established a strong presence in six key segments: firefighting, municipal water supply, smart energy-saving, gas, automotive and agricultural machinery parts, and marine applications [11][15]. - The Saudi project is expected to significantly boost overseas revenue, with the company recognized as a qualified supplier for Saudi Aramco [6][32]. - The domestic smart water business is anticipated to grow due to the national push for smart water management systems [34][36]. Product and Technology - The company has been involved in the data center valve market since 2018, maintaining a leading position with products used in major data centers in Indonesia and North America [36][37]. - The company has a robust R&D framework, having received multiple certifications and recognition for its innovative products [30][29]. Investment Outlook - The report forecasts a steady increase in both revenue and profit margins, with a focus on maintaining high gross and net profit margins [21][39]. - The company’s strategic initiatives, including a recent stock incentive plan, are expected to enhance long-term growth and attract talent [37][38].

Company Overview - Weilon Co., Ltd. is located in Qingdao, Shandong Province, and was established on June 8, 1995. It was listed on May 11, 2017. The company's main business includes the production and sales of valves and their accessories, automotive parts castings, and pipe fittings [1] - The revenue composition of Weilon Co., Ltd. is as follows: valve sales account for 80.11%, valve parts and pipe fittings sales account for 11.72%, mechanical castings and others account for 4.44%, and filter sales account for 3.72% [1] Financial Performance - For the first half of 2025, Weilon Co., Ltd. achieved operating revenue of 272 million yuan, representing a year-on-year growth of 12.86%. The net profit attributable to the parent company was 59.01 million yuan, with a year-on-year increase of 15.14% [2] - Since its A-share listing, Weilon Co., Ltd. has distributed a total of 409 million yuan in dividends, with 201 million yuan distributed in the past three years [3] Stock Performance - As of September 22, Weilon Co., Ltd.'s stock price increased by 2.10%, reaching 17.05 yuan per share, with a total market capitalization of 4.294 billion yuan. The stock has risen by 82.39% year-to-date, but has seen a decline of 2.79% in the last five trading days and 7.29% in the last twenty days [1] - The company has appeared on the trading leaderboard five times this year, with the most recent appearance on September 1, where it recorded a net purchase of 22.8796 million yuan [1] Shareholder Information - As of June 30, 2025, Weilon Co., Ltd. had 9,393 shareholders, an increase of 1.00% from the previous period. The average number of circulating shares per person was 12,858, a decrease of 0.98% [2] - Among the top ten circulating shareholders, the Noan Multi-Strategy Mixed A fund (320016) is the eighth largest shareholder, holding 939,800 shares as a new shareholder [3] Industry Classification - Weilon Co., Ltd. belongs to the machinery equipment sector, specifically in general equipment and metal products. The company is also associated with concepts such as artificial intelligence, QFII holdings, IDC (data center), the Belt and Road Initiative, and overseas expansion [2]

Group 1 - The company announced the approval of a restricted stock incentive plan during the 16th meeting of the 5th Board of Directors, scheduled for September 18, 2025 [2] - The Board determined that the conditions for granting restricted stocks under the 2025 incentive plan have been met, with the grant date set for September 18, 2025 [2] - A total of 3.898 million shares of restricted stock will be granted to 133 eligible participants at a price of 6.52 yuan per share [2]

Group 1 - The company, Weilon Co., announced on September 18 that its fifth board meeting was held to discuss the proposal for granting restricted stock to the incentive plan participants for 2025 [1] - The meeting was conducted both in-person and via communication methods, indicating a flexible approach to corporate governance [1] Group 2 - The announcement reflects the company's ongoing commitment to employee incentives and retention through stock options, which may impact its future performance and employee engagement [1]

股票代码：002871 股票简称:伟隆股份 公告编号：2025-103 青岛伟隆阀门股份有限公司 关于向 2025 年限制性股票激励计划激励对象授予 限制性股票的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示： 青岛伟隆阀门股份有限公司（以下简称"公司"）于 2025 年 9 月 18 日召开 第五届董事会第十六次会议，审议通过了《关于向 2025 年限制性股票激励计划 激励对象授予限制性股票的议案》。根据公司 2025 年第一次临时股东大会的授 权，董事会认为公司 2025 年限制性股票激励计划（以下简称"本激励计划"） 规定的限制性股票的授予条件已经成就，同意确定以 2025 年 9 月 18 日为授予日， 以 6.52 元/股的价格向符合条件的 133 名激励对象授予 389.8 万股限制性股票。 现就有关事项说明如下： 一、本激励计划简述 本激励计划已经公司 2025 年 8 月 15 日召开的第五届董事会第十四次会议和 第五届监事会第十二次会议，以及 2025 年 9 月 3 日召开的 2025 年第一次临时股 东大会审议通过，详 ...

北京德和衡律师事务所 关于青岛伟隆阀门股份有限公司 2025年限制性股票激励计划首次授予的 法律意见书 德和衡证律意见（2025）第 525 号 1 中国·北京市朝阳区建国门外大街 2 号银泰中心 C 座 11、12 层 电话： (+86 10) 8540 7666 邮编：100022 www.deheheng.com | 释 义 | 3 | | --- | --- | | 一、 本次激励计划的批准与授权 | 5 | | 二、本次激励计划的授予日 | 6 | | 三、 本次激励计划的授予对象 | 7 | | 四、本次激励计划的授予条件 | 7 | | 五、结论意见 | 8 | 释 义 在本法律意见书中，除非另有所指，下列词语具有如下含义： | 简称 | | 全称 | | --- | --- | --- | | 伟隆股份、公司 | 指 | 青岛伟隆阀门股份有限公司 | | 本次激励计划、 《激励计划（草案）》 | 指 | 《青岛伟隆阀门股份有限公司2025年限制性股票激励计划（草案）》 | | 限制性股票 | 指 | 根据《激励计划（草案）》，激励对象有权获授或购买的附限制性条件 的公司人民币普通股（A股）股票 ...

关于公司 2025 年限制性股票激励计划授予条件成就及激励对象名单 (授予日)的核查意见 青岛伟隆阀门股份有限公司（以下简称"公司"）董事会薪酬与考核委员会 依据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和 国证券法》（以下简称"《证券法》"）、《上市公司股权激励管理办法》（以 下简称"《管理办法》"）等有关法律、行政法规、规范性文件和《青岛伟隆阀 门股份有限公司章程》(以下简称"《公司章程》")的有关规定，对《青岛伟隆 阀门股份有限公司 2025 年限制性股票激励计划（草案）》（以下简称"《激励 计划》"或"本激励计划"）及其摘要等相关资料进行了核查，发表核查意见如 下： （一）公司董事会薪酬与考核委员会对本激励计划的授予条件是否成就发表 了明确意见，认为： 青岛伟隆阀门股份有限公司 董事会薪酬与考核委员会 2025 年 9 月 19 日 2、本次获授限制性股票的 133 名激励对象均为公司（含下属子公司）正式 在职员工，不包括独立董事、监事及单独或合计持有公司 5%以上股份的股东或 实际控制人及其配偶、父母、子女； 3、本次获授限制性股票的 133 名激励对象均具备《中华人民共和国公 ...