Core Viewpoint - The company San Chuan Wisdom (300066.SZ) focuses on smart water meter products primarily used in the smart water management sector, which falls under industrial and municipal water measurement [1] Group 1: Product Application - The company's smart water meter products are mainly applied in the smart water management field [1] - These products are categorized as industrial and municipal water measurement products [1] Group 2: Market Strategy - The company's sales are primarily domestic, with exports being a secondary focus [1] - In the domestic market, the company establishes direct cooperation with local water service companies [1] - The company also utilizes qualified distributors and intermediaries to expand its market coverage [1]

Group 1 - The company, Ningbo Water Meter (Group) Co., Ltd., has announced the date for its second extraordinary general meeting of shareholders, which will be held on September 15, 2025 [2][4] - The meeting will adopt a combination of on-site and online voting methods, with the online voting system provided by the Shanghai Stock Exchange [2][3] - Shareholders must register to attend the meeting, with specific documentation required for different types of shareholders [4][5] Group 2 - The agenda for the meeting includes several proposals, including the non-cumulative voting proposal and the proposal regarding the repurchase and cancellation of unvested shares [1][6] - The company has set the record date for shareholders eligible to attend the meeting as September 8, 2025 [3][4] - The meeting will take place at the company's administrative conference room located at 358 Beihai Road, Jiangbei District, Ningbo [2][4]

Core Viewpoint - Ning Shui Group announced an internal share transfer plan among its controlling shareholders and their concerted actors, which will not affect the overall shareholding structure or control of the company [1][2]. Share Transfer Plan - Shanghai Lanmo Investment Management Co., Ltd. - Lanmo Private Equity Fund No. 8 plans to transfer 2,034,000 shares (1.01% of total shares) to Wu Xin and Yang Ming, who are family members of the current shareholders [1]. - After the transfer, Lanmo No. 8 will no longer hold shares in Ning Shui Group, while Wu Xin and Yang Ming will become concerted actors of the controlling shareholders [1]. Shareholding Structure - As of the announcement date, the controlling shareholders and their concerted actors hold a total of 51,148,388 shares, accounting for 25.36% of Ning Shui Group's total share capital [2]. - Key shareholders include Zhang Shihua (16.97%), Zhang Lin (2.85%), and Zhang Lei (2.11%) among others [2]. Financial Performance - Ning Shui Group expects a net profit attributable to shareholders of 48 million to 54 million yuan for the first half of 2025, representing an increase of 17.67 million to 23.67 million yuan, or a year-on-year growth of 58.26% to 78.04% [3]. - The company anticipates a decrease in net profit excluding non-recurring gains and losses, projected at 4.90 million to 10.90 million yuan, down by 11.32 million to 17.32 million yuan, or a decline of 50.93% to 77.94% [3]. Historical Financial Data - From 2019 to 2024, Ning Shui Group's revenue and net profit figures showed fluctuations, with revenues of 1.371 billion, 1.590 billion, 1.717 billion, 1.555 billion, 1.789 billion, and 1.501 billion yuan respectively [3]. - Net profits attributable to shareholders during the same period were 212 million, 273 million, 235 million, 126 million, 131 million, and 52.42 million yuan [3].

Core Viewpoint - San Chuan Wisdom has been committed to optimizing and upgrading intelligent manufacturing, focusing on innovation-driven development strategies in the smart water sector, and has been recognized as one of the "Advanced Intelligent Factories in Jiangxi Province by 2025" due to its outstanding performance in intelligent manufacturing [1] Group 1: Company Achievements - San Chuan Wisdom is one of the earliest companies in China specializing in the research, production, and sales of water meters, and is a leading smart water service provider in the country [2] - The company has successfully passed multiple certifications for its ultrasonic water meters, including the NMI certification from Australia and the MID and OIML certifications from Slovakia, allowing its products to circulate freely in 31 EU member states [2] - The 5G smart factory is designed with an annual production capacity of 5 million water meters, utilizing programmable robots and achieving over 95% automation in the production process [2][3] Group 2: Industry Trends - The demand for smart water meters is expected to increase due to the acceleration of smart city and water-saving city initiatives, as well as the implementation of tiered water pricing policies [4] - The smart water industry in China is transitioning from automation to digitalization, with most water companies building information infrastructure and moving towards a smart water 3.0 phase [4] - The development of smart water services will increasingly focus on intelligent solutions, leveraging big data and AI for deep data analysis to support decision-making [5] Group 3: Future Outlook - The 5G smart factory will significantly enhance San Chuan Wisdom's competitive advantage by improving production efficiency, product delivery capabilities, and reducing production costs [3] - The company aims to align with industry developments and continue driving product innovation, contributing to the transition of the entire industry towards advanced smart water 3.0 levels [6] - National policies introduced in 2024 are expected to boost the water industry, creating vast market opportunities for smart water solutions [6]

Group 1 - The newly launched 5G smart factory by San Chuan Wisdom (300066) features a super-fast production line that assembles a water meter in just 18 seconds, achieving over 95% automation throughout the entire process [1] - The factory represents a significant advancement in the traditional water meter manufacturing industry, marking a transition into a new era of intelligence, greenness, and digitization [1] - San Chuan Wisdom's 5G smart factory integrates advanced technologies such as industrial automation, digital twin, artificial intelligence, and edge computing, establishing an innovative model for the industry [1] Group 2 - The China Urban Water Supply and Drainage Association praised San Chuan Wisdom's role in leading the industry, highlighting its technological innovations as a model for data assetization in the water sector [2] - The factory boasts a 95% automation rate and energy consumption that is 20% better than national standards, reshaping perceptions of traditional manufacturing [2] - San Chuan Wisdom is recognized as the first national-level intelligent manufacturing demonstration enterprise in the water meter industry, with the launch of the 5G smart factory symbolizing a historic leap from "manufacturing" to "intelligent manufacturing" in China [2]

Core Insights - The launch of the world's first 5G fully automated smart factory in the water meter industry marks a significant shift towards intelligent, green, and digital manufacturing [1][3][5] - The event was attended by over 200 industry experts and representatives, highlighting the importance of collaboration in advancing smart water management [1][3] Group 1: Industry Context - The water industry is facing urgent demands for digital transformation due to challenges such as low production efficiency, high reliance on manual labor, and data silos [3] - The shift from "experience-driven" to "data-driven" approaches is essential for addressing issues like leakage control, rising operational costs, and service quality improvements [3] Group 2: Company Achievements - San Chuan Wisdom has established itself as a leader in the water meter industry, being the first national-level intelligent manufacturing demonstration enterprise and the first water meter company listed on the Growth Enterprise Market [7] - The company has a history of innovation spanning 54 years, from the first NB-IoT water meter to the current lighthouse factory, driven by standards of automation, information management, AI integration, and data assetization [5] Group 3: Technological Advancements - The new factory boasts a 95% automation rate and energy consumption that exceeds national standards by 20%, showcasing a new benchmark in manufacturing [5] - Advanced technologies such as 5G, AI, and digital twin are integrated into the factory, which not only redefines production standards but also promotes collaborative upgrades across the industry [7] Group 4: Future Directions - San Chuan Wisdom aims to leverage its advantages in smart water meter terminals and data assets to lead the construction of a trusted data space for smart water management [7] - The company plans to deepen its "one body, two wings" strategy, focusing on efficient water resource utilization and contributing to high-quality development in the global smart water management landscape [7]