Core Viewpoint - The company plans to utilize up to 500 million RMB of idle funds for cash management to enhance fund efficiency and increase returns [1][2] Group 1: Cash Management Proposal - The company and its subsidiaries will use a total of no more than 500 million RMB for cash management, investing in low-risk, high-liquidity financial products [1][2] - The primary goal is to activate idle funds without affecting daily operational cash flow and normal business activities [1][2] Group 2: Investment Guidelines - The investment will be limited to financial products issued by banks, fund companies, securities companies, and insurance companies, with a maximum investment period of 12 months [2] - The company will not invest in securities, unsecured bonds, domestic and foreign stocks, or any high-risk investment products [2] Group 3: Risk Management Measures - The finance department will continuously analyze and monitor the investment products, with the audit department and independent directors having oversight authority [3] - The investment strategy is based on principles of "standard operation, risk control, cautious investment, and value preservation," ensuring that daily operations and fund safety are prioritized [3] Group 4: Meeting and Documentation - The proposal was approved during the 18th meeting of the 10th Board of Directors, and relevant documents include the meeting resolution [4]

Financial Data and Key Metrics Changes - ITT delivered nearly $1 billion in total orders for the third consecutive quarter, up 3% year-over-year [6] - Revenue grew 13% in total and 6% organically, reaching $999 million [7] - Operating income grew nearly twice the organic sales growth rate, with operating margin expanding over 100 basis points excluding M&A [7] - Adjusted EPS increased by 21%, and free cash flow grew 46% to $368 million year-to-date, with expectations to reach $500 million for the full year [7][10] - Free cash flow margin in the quarter was over 15%, surpassing the high end of the 2030 target [7] Business Line Data and Key Metrics Changes - Industrial Process (IP) grew 11% organically, driven by projects which grew over 50% [8][17] - Connect and Control Technologies (CCT) delivered 25% total growth, with 6% organic growth, supported by defense momentum and aerospace demand [9][17] - Motion Technologies (MT) grew 4% organically, outperforming global auto production, particularly in China [9][17] - IP margins expanded by 70 basis points to nearly 22%, while CCT margins grew by 270 basis points excluding Casoria dilution [9][18] Market Data and Key Metrics Changes - Orders in the Defense and Aerospace sectors were strong, with CCT orders up 27% and 6% organic growth [11] - Market share in China increased from 31% to above 34% [11] - Svanehøj secured over $250 million in orders year-to-date, representing 59% growth compared to the prior year [13] Company Strategy and Development Direction - The company is focused on organic growth and margin expansion, compounded with M&A activities [6] - ITT aims to achieve a book-to-bill ratio above one for the full year, positioning itself for growth in 2026 [15] - Continued investment in innovations like Vidar and Geopad is a priority, with expectations for significant contributions from acquisitions [10][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong operational performance and the ability to exceed previous guidance [20] - The outlook for 2026 is cautiously optimistic, with expectations for low double-digit growth driven by a strong backlog and project wins [46][85] - Management noted that while the automotive market is facing challenges, ITT's market share is expected to increase due to new product introductions [82] Other Important Information - The company is raising its full-year Adjusted EPS outlook, with the low end of the revised guidance now above the previous high end [10] - The effective tax rate is expected to be lower than planned, contributing positively to earnings [20] Q&A Session Summary Question: Insights on global auto production and its future - Management noted that global auto production was up 2% year-over-year, with China showing significant growth while Europe and North America are forecasted to decline slightly [35] Question: Confidence in the funnel for Industrial Process - Management indicated that the funnel is up 22% year-over-year, with strong activity in green projects and a healthy outlook for future orders [36][37] Question: Breakdown of the $0.20 guidance raise - The guidance raise is attributed to higher revenue, improved margins, and a favorable tax rate [43] Question: Market outlook for 2026 - Management expressed optimism about entering 2026 with a strong backlog, particularly in aerospace and defense [46] Question: Short cycle orders in Industrial Process - Management reported strong activity in parts and valves, with a notable increase in short cycle orders [50] Question: M&A opportunities and attractiveness of the funnel - The M&A funnel is rich with opportunities, primarily focused on pumps and valves, with a rigorous process in place to ensure value creation [60] Question: Impact of FX on Motion Technologies margins - FX transactions had a negative impact in absolute terms but provided a year-over-year benefit of around 100 basis points [113]

Group 1 - The company has guaranteed the authenticity, accuracy, and completeness of the quarterly report, and assumes legal responsibility for any false records or misleading statements [2][3][4] - The company will not conduct an audit for the third-quarter financial statements [3][8] - The company has approved the repurchase and cancellation of 1,715,024 shares from the 2024 employee stock ownership plan due to unmet performance conditions [5][6] Group 2 - The company has proposed to appoint Tianzhi International Accounting Firm as the auditor for the 2025 fiscal year, pending approval from the shareholders' meeting [10][17][19] - Tianzhi International has a strong background in audit services, with a total revenue of 2.501 billion yuan in 2024, including 1.938 billion yuan from audit services [11][14] - The company plans to use up to 1 billion yuan of idle funds for cash management, focusing on safe and liquid financial products [27][32][36]

Core Viewpoint - The company has reported a total of 44,917,258.73 yuan in credit impairment losses and asset impairment losses for the third quarter of 2025, reflecting a cautious approach to financial reporting and asset management [8][13]. Financial Data - The financial report for the third quarter of 2025 is unaudited, and the company has confirmed that the financial information is true, accurate, and complete [3][2]. - The company has recognized a total of 44,967,898.98 yuan in credit impairment losses for the third quarter, indicating a focus on managing credit risk effectively [9]. Asset Impairment - The company conducted impairment testing on various assets and recognized credit impairment losses and asset impairment losses totaling 44,917,258.73 yuan for the third quarter [8][13]. - The company has a low historical bad debt loss rate, with cumulative bad debt losses of only 0.18 million yuan over the past three years, suggesting strong credit management practices [9]. Shareholder Meeting - The company will hold its second extraordinary general meeting of 2025 on November 18, 2025, to discuss various resolutions, including the approval of financial reports and other significant matters [17][20]. - The meeting will utilize both on-site and online voting methods to facilitate shareholder participation [19][21]. Cash Management - The company has approved the use of up to 155 million yuan of temporarily idle raised funds for cash management, aimed at enhancing the efficiency of fund utilization while ensuring the safety of the funds [51][52]. - The cash management strategy includes investing in low-risk, liquid financial products, which aligns with the company's goal of maximizing shareholder returns [60][62]. Audit Firm Appointment - The company plans to renew its appointment of Da Xin Certified Public Accountants for auditing services, pending approval from the shareholders' meeting [64][66]. - Da Xin has extensive experience in the industry, with a strong track record in providing auditing services to numerous companies [66][69].

Core Viewpoint - The company has announced the use of part of its idle raised funds for cash management through structured deposits, aiming to enhance fund efficiency while ensuring the safety of the raised funds [5][14]. Summary by Sections Cash Management Overview - The purpose of cash management is to improve fund utilization efficiency while ensuring that the investment plans and safety of the raised funds are not affected [5]. - The company subscribed to a structured deposit product amounting to RMB 100 million at Jiangsu Bank [6][8]. - The funds for this structured deposit come from previously idle raised funds that were converted into a seven-day notice deposit at Bank of China [9]. Cash Management Details - The structured deposit is a bank wealth management product with an expected return of approximately RMB 300,000 [10]. - The company has a cash management product balance limit of RMB 3 billion, which can be rolled over within 12 months [10]. - The cash management process is strictly regulated to ensure that it does not impact the funding needs of investment projects [10]. Approval Process - The cash management plan was approved by the company's board and supervisory committee during meetings held on March 21, 2025 [11]. Risk Analysis and Control Measures - The structured deposit is considered low-risk, but the company has implemented several measures to mitigate potential risks, including compliance with relevant regulations and regular monitoring of cash management products [12]. Impact on the Company - The investment in structured deposits is expected to enhance the efficiency of raised funds and increase company revenue without affecting daily operations or the progress of investment projects [14]. Accounting Treatment - The structured deposit will be accounted for under "trading financial assets," "fair value changes," and "investment income" according to accounting standards [15]. Recent Cash Management Activity - On September 29, 2025, the company redeemed RMB 200 million from a notice deposit, earning a return of RMB 75,800 [16].

Core Viewpoint - The company has announced the provision for credit and asset impairment losses totaling 4.5735 million yuan for the third quarter of 2025, reflecting a cautious approach to accurately represent its asset and financial status as of September 30, 2025 [6][22]. Financial Data Summary - The company confirmed that the third-quarter financial report has not been audited [3]. - The total amount of credit and asset impairment losses recognized in the third quarter is 4.5735 million yuan [7][22]. - The provision for impairment losses is based on the principle of prudence and aims to provide a fair representation of the company's asset values [22]. Shareholder Information - The company has not reported any changes in the number of shareholders or significant shareholders participating in the securities lending business [5]. Other Important Matters - The board of directors has ensured that the financial report is true, accurate, and complete, with no false records or misleading statements [2][31]. - The decision to recognize impairment losses was approved in the board meetings held on October 27, 2025 [23][40].

Group 1 - The company plans to use part of its idle raised funds for cash management, with a maximum amount not exceeding RMB 600 million, and the investment period not exceeding 12 months [8][10][19] - The cash management products will include low-risk investments such as bank fixed-income products, structured deposits, and treasury reverse repos [7][16][27] - The decision to use idle funds for cash management has been approved by the company's board and requires further approval from the upcoming shareholders' meeting [9][18][60] Group 2 - The company has also proposed to use its own idle funds for cash management, with a maximum amount not exceeding RMB 1.4 billion, under similar conditions as the raised funds [28][30][35] - The cash management strategy aims to enhance the efficiency of fund utilization and increase returns for the company and its shareholders [30][38][59] - The company has a history of managing idle funds effectively, with a remaining balance of RMB 613 million as of October 24, 2025, from previous cash management products [15][31][34] Group 3 - The company has faced delays in its investment projects, leading to the need for cash management to ensure funds are utilized effectively without impacting ongoing projects [13][14][19] - The board has approved various governance changes, including the cancellation of the supervisory board, which will be replaced by the audit committee [43][45][72] - The company is committed to complying with relevant regulations and ensuring that cash management does not harm the interests of shareholders [19][35][60]

Group 1 - The company guarantees the authenticity, accuracy, and completeness of the information disclosed in its quarterly report, and assumes legal responsibility for any false records or misleading statements [2][3][4] - The third-quarter financial report has not been audited [3][4] - The company reported significant changes in its financial data, including a 461.73% increase in prepaid expenses and a 2,298.80% increase in current non-current liabilities [5][6][18] Group 2 - The company has approved a guarantee of up to RMB 220 million for its subsidiaries, which can be used for various financing needs [16][18] - The company also approved a guarantee of up to RMB 200,000 for cooperative farms to support their loan applications [17] - As of the latest board meeting, the total guarantee amount for subsidiaries is RMB 87.176 million, accounting for 18.69% of the company's latest audited net assets [18][19] Group 3 - The company has approved the use of up to RMB 3 billion of its own funds for cash management, investing in high-security and liquid financial products [20][21][23] - The investment aims to enhance the efficiency of fund usage without affecting the company's normal operations [21][28] - The company will disclose the specific purchases and performance of these financial products in its regular reports [26][27] Group 4 - The company plans to change its name from "Shandong Xiantan Co., Ltd." to "Shandong Xiantan Group Co., Ltd." to better reflect its business scale and group structure [33][41][43] - This name change is intended to enhance brand image and operational efficiency [43][44] - The change has been pre-approved by the market supervision authority and aligns with the company's strategic planning [43][44] Group 5 - The company will hold its second extraordinary general meeting of 2025 on November 12, 2025, to discuss various proposals [46][47][48] - The meeting will include provisions for both on-site and online voting [50][60] - Shareholders must register for the meeting by November 7, 2025 [56][57]

Core Points - Company plans to use up to 3 billion yuan of idle funds for cash management to enhance fund efficiency and increase investment returns [1][2] - The cash management plan has been approved by the board and supervisory committee, pending shareholder meeting approval [1][2] - The investment will focus on low-risk financial products with high safety and liquidity, with a rolling usage within the approved limit [1] - The chairman is authorized to make specific investment decisions while ensuring normal operations and fund safety [1] - Strict risk control measures will be implemented, including selecting reputable financial institutions and conducting regular audits [1][2] Financial Management - The cash management initiative is expected to improve fund efficiency and generate higher returns for shareholders, particularly benefiting minority shareholders [2] - The company will disclose the progress of the cash management plan in accordance with legal requirements [2]

Core Viewpoint - Jiangsu Zhengdan Chemical Industry Co., Ltd. has announced its cash management progress, indicating a stable and orderly management of idle funds, with a total of 1.293 billion yuan currently invested in cash management products [1][9]. Summary by Relevant Sections Cash Management Overview - The company plans to manage idle funds of up to 150 million yuan from raised funds and 2 billion yuan from its own funds for cash management [1]. - Recent cash management products have matured, with all funds being fully recovered without any overdue or loss situations [2]. Idle Funds Recovery - The company recovered 90 million yuan from a structured deposit product issued by Jiangsu Bank, and a total of 835 million yuan from ten cash management products involving various financial institutions [3][4]. New Cash Management Investments - The company has made new investments totaling approximately 156 million yuan, focusing on low-risk products, with 95 million yuan from idle raised funds and 151 million yuan from idle self-owned funds [5][7]. - New investments include two principal-protected products with expected annual yields ranging from 1.08% to 2.16% [6]. Current Investment Status - As of the announcement date, the total amount of funds in investment is 1.293 billion yuan, which is within the authorized limits for cash management [9]. - The company has established strict risk control measures for cash management, including dedicated personnel for fund safety tracking and regular audits [10]. Impact on Core Business - The company emphasizes that cash management using idle funds will not affect its main business operations and aims to enhance the efficiency of fund usage while providing returns to shareholders [11].