Summary of Key Points Group 1: Convertible Bond Issuance - The company issued a total of 26,971,000 CNY in convertible bonds on August 19, 2024, with a face value of 100 CNY per bond, totaling 2,697,100 bonds [1] - The net proceeds from the issuance, after deducting issuance costs of 7,074,189.65 CNY, amounted to 262,635,810.35 CNY [1] Group 2: Listing and Conversion Details - The convertible bonds, named "伟隆转债" (Wei Long Convertible Bonds), were listed on the Shenzhen Stock Exchange starting August 28, 2024 [2] - The initial conversion price was set at 8.60 CNY per share, which will be adjusted to 8.26 CNY per share effective May 29, 2025, due to the company's profit distribution plan [2] Group 3: Redemption Conditions - The company has the right to redeem the bonds if the stock price exceeds 10.74 CNY (130% of the conversion price) for 15 consecutive trading days, which has been triggered [3] - The redemption price is set at 100.485 CNY per bond, including accrued interest, with the interest calculated based on a 0.5% annual rate [4][5] Group 4: Redemption Implementation - As of July 31, 2025, there were 8,919 bonds remaining unconverted, and the total redemption amount will be 896,225.71 CNY [5] - The bonds will be delisted from the Shenzhen Stock Exchange on August 11, 2025, following the redemption [6] Group 5: Impact on Share Capital - The total share capital increased by 32,542,158 shares due to the conversion of the bonds, which may dilute earnings per share in the short term [5][7] - The updated share structure reflects the changes post-redemption, with a significant portion of shares now being unrestricted [7]

Competitive Landscape - The Chinese fluorine-lined butterfly valve market features a coexistence of domestic and international companies, with distinct competition between high-end and mid-to-low-end markets [1] - International companies dominate the high-end market, with European and American firms recognized for high precision and reliability. For instance, Detson holds a 10%-15% market share in the high-end pneumatic special valve market, while Emerson exceeds 20% market share in critical sectors like nuclear power and LNG [1] - Domestic large enterprises are rising, such as Fujian Detson Valve Co., Ltd., which is a leading global manufacturer of fluorine-lined valves, known for strong R&D capabilities and a significant presence in the chemical and petroleum industries [1] - The mid-to-low-end market is characterized by intense competition among numerous domestic small and medium-sized enterprises, where product homogenization is prevalent, and competition primarily revolves around pricing [1] Regional Competition - Domestic companies are mainly concentrated in regions like Jiangsu and Fujian, where industrial support and technical talent are abundant, providing a competitive advantage [2] Product Competition - There is a shortage of high-end fluorine-lined butterfly valve products, with the domestic market still reliant on imports for large-diameter and high-performance intelligent fluorine-lined valves. The high-end market is tightly controlled by a few well-known domestic and international companies that meet the demands of high-end sectors like chemicals and semiconductors [3] - The mid-to-low-end market exhibits widespread product homogenization, with most products showing minimal differences in basic performance and functionality. Price has become the primary competitive factor, although companies are increasingly focusing on improving product quality and cost-effectiveness [3]

Meeting Overview - The board meeting of Jiangsu Shentong Valve Co., Ltd. was held in a hybrid format, combining on-site and remote voting [1] - The meeting followed the regulations of the Securities Law and the company's articles of association [1] Board Resolutions - Mr. Han Li was elected as the chairman of the seventh board of directors, with a term starting from the approval date of this resolution until the end of the current board term. The voting results were 9 votes in favor, 0 against, and 0 abstentions [1] - The board approved the appointment of Mr. Wu Jianxin as the president, with the same term conditions as the chairman. The voting results were also 9 votes in favor, 0 against, and 0 abstentions [2] - Mr. Zhang Qiqiang was reappointed as the board secretary, with the term starting from the approval date until the end of the current board term. The voting results were 9 votes in favor, 0 against, and 0 abstentions [2][3] - Mr. Hong Xuechao was reappointed as the internal audit head, with the same term conditions. The voting results were 9 votes in favor, 0 against, and 0 abstentions [4] Committee Appointments - The composition of the specialized committees of the board was established, with independent directors included in each committee [1] - Audit Committee: Ms. Xiao Xiao (Chair), Mr. Shi Bingfeng, Mr. Zhu Guiying [1] - Nomination Committee: Mr. Shi Bingfeng (Chair), Ms. Ma Jing, Mr. Han Li [1] - Compensation and Assessment Committee: Ms. Ma Jing (Chair), Ms. Xiao Xiao, Mr. Wu Jianxin [1] - Strategy Committee: Mr. Han Li (Chair), Mr. Wu Jianxin, Ms. Xiao Xiao, Ms. Ma Jing, Mr. Shi Bingfeng, Mr. Zhao Wenhao, Ms. Chen Li [1] Governance Improvements - The board approved the establishment and revision of governance-related systems to enhance company operations and governance levels, with voting results of 9 votes in favor, 0 against, and 0 abstentions [5]

交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板 上市公司规范运作》等法律法规及规范性文件的相关规定，为进一步规范公司运 作，提高公司治理水平，结合公司实际情况，对公司治理相关制度予以新制定和 修订。现将具体情况公告如下： 一、本次制定暨修订的公司相关制度列表 本公司及董事会全体成员保证公告内容真实、准确和完整，并对公告中的虚 假记载、误导性陈述或重大遗漏承担责任。 江苏神通阀门股份有限公司（以下简称"公司"）于 2025 年 8 月 8 日召开第 七届董事会第一次会议，审议通过了《关于制定暨修订公司相关治理制度的议案》。 根据《公司法》 《证券法》 《上市公司治理准则》 《上市公司章程指引》 《深圳证券 证券代码：002438 证券简称：江苏神通 公告编号：2025—048 江苏神通阀门股份有限公司 序号 文件名称 审议机构 备注 制定暨修订后的相关治理制度全文内容详见 2025 年 8 月 9 日巨潮资讯网 （www.cninfo.com.cn）。 二、备查文件 特此公告。 江苏神通阀门股份有限公司董事会 ...

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Group 1 - The company, Nanfeng Co., Ltd. (300004.SZ), has recently received a bid notification from China General Nuclear Power Engineering Co., Ltd. confirming its status as the winning bidder for the "BT project LOT150Ah non-nuclear wind valves, tornado valves, fire valves, and smoke exhaust valves" [1] - The total bid amount awarded to the company is RMB 61.57 million [1]

Group 1 - The core point of the article highlights that Guanlong Energy (301151.SZ) is currently experiencing a decline in stock price, closing at 21.91 yuan with a drop of 5.23%, resulting in a total market capitalization of 3.703 billion yuan [1] - The company went public on April 11, 2022, on the Shenzhen Stock Exchange's ChiNext board, with an initial offering price of 30.82 yuan per share and a total of 42 million shares issued [1] - The total funds raised from the initial public offering amounted to 1.294 billion yuan, with a net amount of 1.197 billion yuan after deducting issuance costs, which was 9.5567 million yuan less than originally planned [1] Group 2 - The funds raised are intended for several projects, including the expansion of the Shanghai water-saving valve production base, the expansion of Jiangsu Rongtong Valve Machinery Co., Ltd.'s water-saving valve production base, the construction of a research and development center, and the upgrade of intelligent information systems [1] - The total issuance costs were 97.4413 million yuan, with Changjiang Securities Co., Ltd. receiving 78.8775 million yuan as underwriting and sponsorship fees [1]

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 - Qingdao Weilon Valve Co., Ltd. has a stable credit rating outlook, supported by its competitive position in the valve industry, strong cash assets, and manageable debt pressure [3][6][8]. Company Overview - The company has been engaged in the valve industry for over 30 years, offering a wide range of products with more than 2,000 specifications and multiple international certifications [6][15]. - As of the end of 2024, the company’s total assets amounted to 13.10 billion yuan, with total liabilities at 2.77 billion yuan and net profit of 0.25 billion yuan [3][19]. Financial Performance - The company reported a slight increase in overall revenue in 2024, with a gross profit margin of 40.34% [14][18]. - Cash assets accounted for 51.74% of total assets, indicating strong liquidity [18]. - The company’s EBITDA margin remained stable, while total asset return slightly decreased [18]. Market Position - The company’s export revenue constituted 75.69% of total income in 2024, highlighting its reliance on international markets [6][15]. - The valve market in China is the second largest globally, with a market size of approximately 170 billion yuan in 2024, growing at a compound annual growth rate of 4.16% over the past five years [12][14]. Industry Environment - The valve manufacturing industry in China is characterized by low concentration, with intense competition in the mid and low-end markets [12][14]. - The company faces challenges from fluctuating raw material prices, particularly for steel and non-ferrous metals, which account for 60%-70% of its main business costs [7][17]. Raw Material Supply - The company has a relatively high self-sufficiency rate for castings, with about 60% of its casting needs met by its wholly-owned subsidiary [17]. - The prices of key raw materials have shown significant volatility, impacting the company's cost management [13][17]. Future Outlook - The company is expected to maintain a stable business and financial condition, although it remains vulnerable to global economic conditions and trade policies [6][8][18]. - The company plans to enhance its domestic market presence while continuing to focus on its established international customer base [15][18].

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].