登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002438 证券简称：江苏神通 公告编号：2025-027 江苏神通阀门股份有限公司 ■■ 注：若出现总数与各分项数值之和尾数不符的情况，均为四舍五入所致。 关于持股5%以上股东权益变动后 持股比例触及1%整数倍的公告 公司持股5%以上的股东湖州风林火山股权投资合伙企业（有限合伙）保证向本公司提供的信息内容真 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。 江苏神通阀门股份有限公司（以下简称"公司"）于2025年3月12日披露了《关于持股5%以上股东减持股 份的预披露公告》（公告编号：2025-010）。持有公司股份3,507.1863万股（约占公司总股本比例为 6.91%）的股东湖州风林火山股权投资合伙企业（有限合伙）（以下简称"风林火山"）计划自该公告披 露之日起15个交易日后的三个月内以集中竞价方式或大宗交易方式减持公司股份不超过1,522.6124万股 （约占公司总股本比例为3%）,其中通过集中竞价交易方式减持公司股份不超过507.5375万股（约占公 司总股本比例为 ...

Core Insights - The 2025 Chinese valve industry is characterized by a "dual-track" model, with East China brands leading high-end energy sectors through technology-intensive and globalized strategies, while South China brands focus on smart scene innovations in municipal and emerging markets [18] Group 1: Leading Brands - Suzhou Neway Valve is recognized as a technical benchmark, dominating the deep-sea oil and gas sector with the world's first 1500-meter deep-sea ball valve, certified to withstand 25000 psi [1][13] - China Nuclear Suval Technology is the only domestic company with full qualifications for nuclear-grade valves, achieving over 90% localization in third-generation nuclear power valves [3] - Jiangsu Shentong Valve holds a 53% market share in nuclear butterfly valves and has a 70MPa hydrogen refueling valve certified by Germany's TÜV [5] Group 2: Specialized Brands - Shanghai Guanlong Valve leads in the municipal water sector, with smart control valves covering 80% of municipal water supply projects and IoT technology reducing energy consumption by 30% [7] - Shanghai Qizhong Valve specializes in corrosion-resistant valves made from titanium and Hastelloy, with military products included in national procurement lists [9] - Sanhua Holdings Group dominates the thermal management valve market for new energy vehicles, holding a 38% global market share [11] Group 3: Technological Breakthroughs - The thorium-based molten salt reactor control valve has achieved a 57% reduction in production costs and has received IAEA certification [6] - Jiangsu Shentong's 70MPa hydrogen refueling valve has achieved a significant breakthrough in domestic production and has been certified by Germany's TÜV [14] - The AI health monitoring system from Di Ai Zhi Control has reduced failure rates by 62%, covering the entire lifecycle management of water supply networks [15] Group 4: Market Trends and Regional Competitiveness - High-end technology is concentrated in East China (Yangtze River Delta), where companies dominate nuclear power and deep-sea oil and gas sectors, with leading brands achieving over 40% of overseas revenue [16] - Specialized markets in South China (Pearl River Delta) focus on smart water management and IoT technologies, with municipal project coverage exceeding 80% and accelerating expansion into Southeast Asia [17]

Core Insights - The competitive landscape of domestic first-line valve brands in China is closely linked to technological iteration, market demand, and industrial upgrades [1] Group 1: Energy Security and Technological Localization - The demand for energy security is driving the localization of technology, with over 90% of key nuclear power valve components being domestically produced [6] - Suzhou Neway's deep-sea ball valve, certified by DNV, has achieved a 40% reduction in import costs by winning contracts for the CNOOC Ling Shui gas field project [6] - Jiangsu Shentong's 70MPa hydrogen valve has received TÜV certification, covering 80% of domestic hydrogen stations, while Shanghai Qizhong's orders for new energy lithium battery valves have increased by 180% annually [6] Group 2: Smart Transformation in Municipal and Industrial Systems - The penetration rate of smart water management is increasing, with Shanghai Guanlong's smart control valve reducing municipal water supply network leakage to 5% [6] - AI quality inspection systems from Yuanda Valve have achieved a 99.7% pass rate, with a cloud warehouse system enabling nationwide delivery within 48 hours [6][7] Group 3: Green Manufacturing and Global Expansion - Low-carbon technology is becoming a competitive barrier, with Yuanda Valve's low-carbon stainless steel valves reducing carbon footprints by 40% [8] - Neway Valve's overseas revenue accounts for 42%, covering energy projects in over 60 countries, while Chao Da's corrosion-resistant valves rank among the top three in national exports, with a 35% market share in the Middle East [9] Group 4: Specialization in Niche Markets - Breakthroughs in extreme working conditions are evident, with Shanghai Qizhong's military-grade supersonic wind tunnel pressure regulating valve being adapted for aerospace projects [10] - Sanhua Holdings' CO₂ refrigerant high-pressure electronic expansion valve has broken the monopoly of Japanese companies, compatible with Tesla's 4680 battery system [11] Group 5: Consumer Trends - The market is shifting from a single price competition to a dual-dimensional competition of "technological barriers + scenario adaptation," with an increase in domestic substitution rates and simultaneous global expansion [11]

Core Viewpoint - The domestic valve brands in China are evolving from "domestic alternatives" to "international standard setters," focusing on core technology breakthroughs, smart transformation, and global expansion, with an emphasis on green low-carbon technology and AI integration in the future [14]. Group 1: Leading Brands and Market Position - NEWAY Valve leads in deep-sea applications, having developed the world's first 25,000 psi 28-inch deep-sea ball valve, covering 40% of new LNG transport ship projects, with costs 40% lower than European and American competitors [2]. - The company has an annual production capacity exceeding 600,000 units and exports to energy projects in 60 countries, also leading the revision of ISO international standards for deep-sea valves [4]. - Jiangsu Shentong Valve dominates the nuclear-grade butterfly valve market with a 53% market share and has a 60% market share in valves for metallurgical blast furnace gas recovery systems [6]. Group 2: Technological Innovations and Certifications - NEWAY Valve has obtained DNV certification for its deep-sea ball valves, which cover 40% of the global market, while its corrosion-resistant valves have a lifespan twice that of industry averages [8]. - Shanghai Qizhong Valve has seen a 180% annual increase in orders for its lithium battery valves, with titanium alloy valves meeting ASTM standards for corrosion resistance [9]. - The AI health monitoring system from DI AI Smart Control has reduced pipeline failure rates by 62%, and Guanlong Valve's smart control valves have decreased energy consumption by 30%, covering 80% of municipal water supply projects [10]. Group 3: International Competition and Market Expansion - China Nuclear Su Valve leads the national standard formulation for nuclear valves, with technical parameters adopted by the International Atomic Energy Agency (IAEA) [11]. - Imports of Chinese valves have surged by 40% in emerging markets like Vietnam and Mexico, with Guanlong Valve winning contracts for smart water projects in Southeast Asia due to zero tariffs under the ASEAN Free Trade Agreement [11]. - Sanhua Holdings has established a European R&D center in Munich, achieving a 38% global market share in thermal management valves for new energy vehicles [11]. Group 4: Industry Trends and Future Directions - The industry is witnessing a shift towards smart and green transformations, with AI quality inspection achieving a defect rate of only 0.3% at Shanghai Qizhong, and low-carbon valves reducing carbon footprints by 40% [12]. - NEWAY Valve's smart manufacturing covers the entire process, while Jiangsu Shentong's AI fault diagnosis has an accuracy rate of 98% [13]. - The domestic nuclear valve market has a localization rate exceeding 90%, breaking the monopoly of European and American technologies in the deep-sea sector [14].

近日，济南市市场监督管理局发布2024年济南市知识产权保护典型案例。 1.济南市中级人民法院审理杭某某与济南某水处理公司商标权纠纷案 【基本案情】 原告杭某某系"海德能"注册商标专用权人。2020年，原告因发现某水处理公司存在侵害其商标权的行为 提起诉讼，双方达成和解，并由法院出具调解书确认某水处理公司停止使用涉案商标。后双方于2020年 11月10日签订《协议书》，某水处理公司承诺将涉及侵权的商品、标识、包装箱等清理完毕，如再次侵 权赔偿原告200万元。2023年，原告主张某水处理公司和某设备公司再次使用与原告注册商标相同标识 的侵权产品，应当依据200万元的约定确定赔偿金额。法院经审理认为，原告与某水处理公司签订的 《协议书》内容并未违反法律强制性规定，某水处理公司存在再次侵权行为，应当依照该协议书约定内 容确定赔偿金额。2023年12月25日，法院作出一审判决，判令某水处理公司及其一人股东赔偿原告经济 损失200万元。2024年5月24日，法院作出二审判决维持原判。 【案例简析】 齐鲁晚报 齐鲁壹点记者 李培乐 3.钢城区人民检察院起诉胡某某等3人假冒注册商标、非法制造、销售非法制造的注册商标标识案 【 ...

近日，上海冠龙阀门节能设备股份有限公司（以下简称"冠龙节能""公司"）正式发布其《2024年度环 境、社会和公司治理（ESG）报告》，标志着公司在可持续发展道路上迈出了坚实的一步。作为冠龙节 能自成立以来的首份ESG报告，该报告全面展示了公司在环境保护、社会责任及公司治理方面的实践与 成效，彰显了其作为行业领军企业的绿色制造理念与责任担当。 绿色制造，引领低碳转型 冠龙节能积极响应国家"双碳"目标，致力于绿色工厂、零碳工厂建设，持续优化能源管理体系。报告期 内，公司通过引入喷涂粉末循环技术、建设屋顶分布式光伏发电项目等措施，显著提升了资源利用效 率，减少了碳排放。特别是江苏融通光伏项目，年减碳量近500吨，为公司的低碳转型树立了典范。 创新驱动，铸就品质辉煌 冠龙节能始终将创新视为企业发展的核心动力。公司新投建的动态测试中心填补了国内大型阀门检测空 白，助推行业品质保障。同时，公司荣获"国家知识产权优势企业"称号，累计有效专利数达到103件， 彰显了公司在技术创新方面的卓越成就。 以人为本，共筑和谐家园 冠龙节能深谙员工是企业最宝贵的财富，始终将员工权益保障与职业发展放在首位。公司不仅建立了完 善的职业健康与 ...

Core Insights - Niuwei Co., Ltd. reported its best annual performance for 2024, achieving a revenue of 6.238 billion yuan, a year-on-year increase of 12.5%, and a net profit of 1.156 billion yuan, up 60.1% [1] - The company attributed its growth to increased sales revenue and the resulting economies of scale [1] Financial Performance - The company's core product, valves and parts, generated a revenue of 6.072 billion yuan in 2024, representing a year-on-year growth of 13.69% with a gross margin of 39.01%, an increase of 6.79 percentage points compared to 2023 [1] - Niuwei's operating cash flow significantly increased, reaching 1.112 billion yuan in 2024, a growth of 74.5% [2] - The company maintained a stable financial position with a debt-to-asset ratio of 49.31%, the lowest in four years, and cash on hand of 1.441 billion yuan [2] Dividend Policy - Niuwei announced a cash dividend of 11.4 yuan per 10 shares (including tax), resulting in a dividend yield of 4.67% based on the closing price of 24.43 yuan per share on April 22 [3] - The total cash dividend for 2024 exceeded 1.165 billion yuan, accounting for 100.84% of the company's net profit [3] - Since its listing, Niuwei has distributed a total of 4.148 billion yuan in cash dividends [3]

调节阀又名控制阀，在工业自动化过程控制领域中，通过接受调节控制单元输出的控制信号，借助动力操作去改变介质流量、压 力、温度、液位等工艺参数的最终控制元件。一般由执行机构和阀门组成。调节阀常用分类：气动调节阀，电动调节阀，液动调节 阀等。 据 QYResearch 调研团队最新报告"全球调节控制阀市场报告 2025-2031 "显示， 预计 2031 年全球调节控制阀市场规模将达到 102.8 亿美元 ，未来几年年复合增长率 CAGR 为 5.4% 。 全球 调节控制阀 市场前 20 强生产商排名及市场占有率（基于 2 024 年调研数据；目前最新数据以本公司最新调研数据为 准） 根据 QYResearch 头部企业研究中心调研，全球范围内调节控制阀生产商主要包括 Emerson （艾默生）、 Flowserve （福斯）、 Nihon KOSO （日本工装）、吴忠仪表、 Valmet （维美德）、 Cameron (Schlumberger) 、 Johnson Controls （江森自控）、 Baker Hughes （贝克休斯）、 SAMSON （萨姆森）、重庆川仪等。 2024 年，全球前十强厂商占有 ...

Industry Overview - Butterfly valves, also known as flap valves, are crucial for controlling fluid flow in various industries such as oil, chemical, power, and metallurgy [1][2] - The global butterfly valve market is projected to reach approximately $11.34 billion in 2024 and $11.907 billion in 2025 [5] - In China, the demand for butterfly valves is driven by urbanization, particularly in water supply systems, sewage treatment plants, and HVAC systems [7] Market Growth - The pneumatic high-performance butterfly valve industry in China is expected to grow at a rate of about 10% from 2019 to 2024, with a projected growth rate of 15% from 2025 to 2030 [7] Industry Chain - The upstream materials for butterfly valves include non-metal materials like rubber and PTFE, and metal materials such as cast iron, carbon steel, and stainless steel [9] - Stainless steel is increasingly used in butterfly valves due to its excellent corrosion resistance and strength [11] - The downstream applications of butterfly valves are significant in the power engineering sector, with a projected investment of 608.3 billion yuan in power grid projects in 2024, reflecting a year-on-year growth of 15.3% [13] Competitive Landscape - The domestic butterfly valve market is primarily concentrated in the mid-to-low-end segment, while international brands dominate the high-end market [16] - Major domestic companies include Neway Valve, Jiangsu Shentong, and Zhongke Suval [16][19] Company Performance - Neway Valve is the largest industrial valve manufacturer in China, with a butterfly valve production of 22,971 units and sales of 22,111 units in 2023 [19] - Neway Valve reported a revenue of 5.544 billion yuan in 2023, an increase of 1.485 billion yuan from 2022 [21] - Fangzheng Valve generated 39.6459 million yuan in butterfly valve revenue in 2023, an increase of 4.6652 million yuan from 2022, with a gross margin of 25.32% [23] Industry Trends - The development of high-performance butterfly valves is influenced by advancements in materials, control systems, structure, environmental protection, and design [27]

Core Viewpoint - The company's 2024 performance is below expectations, with revenue of 1.84 billion and net profit of 230 million, reflecting a modest year-on-year growth of 1.86% and 3.29% respectively, primarily due to capacity constraints and delayed project deliveries [1] Financial Performance - In Q4 2024, the company achieved revenue of 820 million, a year-on-year increase of 18.17%, and net profit of 110 million, up 23.84%, indicating a recovery in business during the second half of the year [1] - The revenue breakdown includes oil and petrochemical at 480 million, nuclear engineering valves at 840 million, other valves at 470 million, and forgings at 40 million, with respective year-on-year changes of -20.62%, +35.50%, -11.44%, and +1.60% [1] - The gross margin for the oil and petrochemical business improved significantly, with a year-on-year increase of 8.93% in H1 2024 and an overall annual increase of 3.59 percentage points [1] Regional Sales Performance - Revenue in the North China region surged by 108.06% year-on-year, while the East China region saw a decline of 26.29%, indicating the effectiveness of regional sales strategy adjustments [2] Growth Drivers - The nuclear power business is entering a strategic development phase, with nuclear engineering valve revenue reaching 839 million in 2024, a 35.50% increase, accounting for 45.50% of total revenue [3] - The company has a significant technological advantage in the nuclear valve sector, with key products meeting or exceeding import standards, leading to a steady increase in market share [3] - The approval of 11 new nuclear units in 2024 is expected to drive demand for nuclear valves, supported by a robust order backlog [3] Profit Forecast and Valuation - Due to slight capacity constraints in 2024 and a production cycle of 1-2 years for nuclear products, revenue and net profit forecasts for 2025 have been reduced by 2.9% and 12.5% to 2.05 billion and 260 million respectively [4] - The target price has been adjusted down by 9.2% to 18.7, with a projected increase of 14.8% from the current price [4]