Core Points - The announcement details a passive dilution of shareholding percentages for the controlling shareholder and related parties of Qingdao Weilon Valve Co., Ltd. due to the conversion of convertible bonds into shares [1] - The total share capital of the company increased from 243,891,027 shares to 251,062,971 shares as a result of the conversion, with a total of 31,751,284 shares converted during the specified period [1] - The controlling shareholder, Fan Qingwei, and his concerted actors maintained their total shareholding quantity, but their combined holding percentage decreased from 57.97% to 56.32%, reflecting a dilution of 1.65% [1] Summary by Sections Basic Information - The announcement is made by Qingdao Weilon Valve Co., Ltd. regarding the passive dilution of shareholding percentages of its controlling shareholder and related parties [1] - The equity change occurred between July 23, 2025, and July 29, 2025 [1] Equity Change Details - The shareholding percentage of Fan Qingwei and his concerted parties was diluted from 57.97% to 56.32% due to the conversion of convertible bonds [1] - The total number of shares held by these shareholders remained unchanged [1] Shareholding Structure Before and After - Before the equity change, Fan Qingwei held 122,460,000 shares (50.21%), which decreased to 122,460,000 shares (48.78%) after the change [2] - Qingdao Huilong Enterprise Management Co., Ltd. held 10,756,980 shares (4.41%) before the change, which decreased to 4.28% after the change [2] - Fan Yulong's shareholding decreased from 3.35% to 3.25% [2]

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].

小小阀门，有多少品类？ 球阀、蝶阀、调节阀、轴流阀……走进位于宁夏回族自治区吴忠市的吴忠仪表有限责任公司（以下简 称"吴忠仪表"）智能车间，形态各异的阀门令人目不暇接。从建厂之初的小作坊，到国内重要控制阀制 造基地，吴忠仪表已经走过六十余载。 在吴忠仪表高参数重点流体实验室，一个大型红色球形装置尤为醒目。"这可是我们攻破深海阀门技术 壁垒的'撒手锏'。"吴忠仪表常务副总经理常占东介绍，从无标准、无样机、无资料、无测试装置的"四 无"状态起步，到搭建起国内领先的深海模拟实验装置，历经10余年攻关，吴忠仪表研发团队逐一破解 材料抗腐蚀、超音速喷涂工艺等"卡脖子"难题，成功研发出可在深海1500米环境下耐用60年的控制阀， 填补了国内空白。 "上个月，我们顺利交付徐大堡核电项目大批量核级调节阀，这标志着我们在核电核级调节阀供货领域 也取得突破性进展。"常占东很自豪。 近年来，吴忠仪表累计攻克近100项行业难题，开发60多项控制阀新产品，先后获得国家科技进步奖2 项、宁夏回族自治区科技进步奖22项，取得近600件发明和实用新型专利，参与修订国家标准25项。 发展并非一帆风顺。"我们也走过弯路，大铺摊子、偏离主业，最艰 ...

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].

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].

Core Viewpoint - The internal control management system of Jiangsu Shentong Valve Co., Ltd. aims to enhance and standardize internal controls, improve management levels, and promote sustainable development in accordance with relevant laws and regulations [1][3]. Group 1: General Principles of Internal Control - The internal control system applies to the company and its wholly-owned and controlled subsidiaries [1]. - Internal control is a process implemented by the board of directors, audit committee, management, and all employees to achieve control objectives [1]. - The objectives of internal control include ensuring legal compliance, asset security, accurate financial reporting, and improving operational efficiency [1]. Group 2: Principles of Internal Control - The principles guiding internal control include comprehensiveness, importance, checks and balances, adaptability, and cost-effectiveness [2]. - Internal control should cover all business activities and focus on significant matters and high-risk areas [2]. Group 3: Elements of Internal Control - Key elements of effective internal control include internal environment, risk assessment, control activities, information and communication, and internal supervision [2]. - The internal environment encompasses governance structure, organizational setup, and company culture [2]. Group 4: Risk Assessment - The company conducts risk assessments to identify and analyze internal and external risks related to achieving control objectives [7][12]. - Risk tolerance is defined as the level of risk the company can accept, which includes overall and business-level risk limits [7]. Group 5: Control Activities - Control measures include segregation of incompatible duties, authorization and approval controls, accounting system controls, and performance evaluation controls [28][31]. - The company implements a comprehensive budget management system to clarify responsibilities in budget management [33]. Group 6: Information and Communication - The company establishes procedures for collecting, processing, and transmitting internal control-related information to ensure timely communication [38]. - Information technology is utilized to enhance information integration and sharing [15]. Group 7: Internal Supervision - The internal audit department conducts regular checks on the implementation of internal control systems and business processes [16]. - The company is required to evaluate the effectiveness of internal controls regularly and report on any deficiencies found [46][47].

Core Points - The document outlines the management system for the shares held by directors and senior management of Jiangsu Shentong Valve Co., Ltd, emphasizing compliance with relevant laws and regulations [1][4][30] Group 1: Management Procedures - New directors must report their shareholdings within 2 trading days after their appointment is approved by the shareholders' meeting [1] - New senior management must report their shareholdings within 2 trading days after their appointment is approved by the board of directors [1] - The board secretary is responsible for managing the data related to directors and senior management's shareholdings and must report any violations to the regulatory authorities [4][27] Group 2: Trading Restrictions - Directors and senior management are prohibited from trading company shares during specific periods, such as 15 days before the annual and semi-annual reports [22] - Shares held by directors and senior management cannot exceed 25% of their total holdings when transferred within a year, with exceptions for certain legal circumstances [7] - Any trading plan must be reported to the board secretary, who will assess compliance with disclosure and regulatory requirements [5][19] Group 3: Reporting and Compliance - Directors and senior management must ensure the accuracy and timeliness of their reported data to the stock exchange and the settlement company [4] - Any changes in personal information must be reported within specified timeframes, including within 2 trading days after leaving their position [2] - Violations of trading regulations may result in penalties, and the company must take corrective actions if illegal trading is detected [5][29]

Core Viewpoint - The document outlines the internal reporting system for significant information at Jiangsu Shentong Valve Co., Ltd, ensuring timely, accurate, and complete disclosure of information that may significantly impact the company's stock and derivatives trading prices [1][2]. Group 1: General Principles - The internal reporting system is established to enhance the management of significant information within the company, ensuring compliance with relevant regulations and the company's articles of association [1]. - The system mandates that all departments and subsidiaries report significant events that may affect stock prices to the board of directors promptly [2]. Group 2: Scope of Significant Information - Significant information includes important meetings, major transactions exceeding 10% of audited annual revenue or net profit, and significant litigation or arbitration matters [2][3]. - The reporting obligations extend to major changes in company operations, including changes in market conditions that could impact business [3]. Group 3: Reporting Responsibilities - The board of directors' office is responsible for public information disclosure, while department heads and financial officers are the primary contacts for internal reporting [8][9]. - Individuals with reporting obligations must ensure the accuracy and completeness of the information provided and are held accountable for any misrepresentation [5][13]. Group 4: Reporting Process - The reporting process requires that information be communicated to the board of directors' office as soon as it is known, with specific timelines for monthly updates on operational performance [9][10]. - The document specifies that any changes in significant matters must be reported immediately, and ongoing matters can be disclosed in stages [9][10]. Group 5: Confidentiality and Legal Responsibility - Individuals involved in the reporting process are required to maintain confidentiality regarding undisclosed information until it is publicly released [11]. - Failure to comply with reporting obligations can result in disciplinary actions, including potential termination and liability for damages [13].

Group 1 - Jiangsu province is actively engaging in talent recruitment and retention during the summer, which is a peak period for job-seeking graduates and students [1] - Various cities in Jiangsu, including Yancheng, Zhangjiagang, and Yangzhou, are implementing unique measures to attract and retain young talent [1] Group 2 - Yancheng has launched a "Youth Maker Training" program, pairing aspiring entrepreneurs with experienced mentors from local industries, resulting in 2,079 internship positions and 97 practical projects this summer [3] - The program emphasizes hands-on experience in key industries, with a 6% increase in enterprise positions compared to the previous year [3] Group 3 - Zhangjiagang introduced a "Summer First Stop" subsidy policy, offering students a value of over 999 yuan for travel expenses, which has attracted 184 applicants in the first two weeks of July [5] - This policy aims to enhance the city's appeal to students by providing upfront financial support for their visits [5][6] Group 4 - Yangzhou organized a "Talent Night Market" job fair, featuring over 30 companies and 183 job openings, creating an engaging environment for job seekers [6] - The city is integrating cultural experiences with employment services, allowing young talents to explore job opportunities while enjoying local culture [7]