Core Insights - Jiangsu Shentong's stock price increased by 0.42% on November 11, with a trading volume of 160 million yuan [1] - The company reported a financing buy-in of 26.57 million yuan and a financing repayment of 31.05 million yuan on the same day, resulting in a net financing outflow of 4.48 million yuan [1] - As of November 11, the total margin balance for Jiangsu Shentong was 624 million yuan, accounting for 8.55% of its market capitalization, indicating a high level of financing activity [1] Financing and Margin Data - On November 11, Jiangsu Shentong had a financing buy-in of 26.57 million yuan, with a current financing balance of 624 million yuan, which is above the 90th percentile of the past year [1] - There were no short sales or repayments on that day, with a short balance of 0 shares, also indicating a high level of inactivity in short selling [1] Company Performance - As of November 10, Jiangsu Shentong had 28,800 shareholders, an increase of 2.42% from the previous period, while the average number of circulating shares per person decreased by 2.36% to 16,256 shares [2] - For the period from January to September 2025, Jiangsu Shentong achieved a revenue of 1.638 billion yuan, a year-on-year increase of 0.22%, and a net profit attributable to shareholders of 234 million yuan, reflecting a growth of 2.86% [2] Dividend and Shareholder Information - Since its A-share listing, Jiangsu Shentong has distributed a total of 369 million yuan in dividends, with 195 million yuan distributed in the last three years [3] - As of September 30, 2025, Hong Kong Central Clearing Limited was the third-largest circulating shareholder, holding 10.4045 million shares, an increase of 6.5399 million shares from the previous period [3]

Company Overview - Jiangsu Shentong Valve Co., Ltd. is located at No. 8, Shengtong Road, Qidong City, Jiangsu Province, established on January 4, 2001, and listed on June 23, 2010. The company specializes in the research, production, and sales of industrial special valves [1][2]. Financial Performance - For the period from January to September 2025, Jiangsu Shentong achieved operating revenue of 1.638 billion yuan, representing a year-on-year growth of 0.22%. The net profit attributable to the parent company was 234 million yuan, with a year-on-year increase of 2.86% [2]. - Cumulative cash dividends since the A-share listing amount to 369 million yuan, with 195 million yuan distributed over the past three years [3]. Stock Performance - As of October 31, Jiangsu Shentong's stock price decreased by 2.02%, trading at 14.09 yuan per share, with a total market capitalization of 7.151 billion yuan. The stock has increased by 17.17% year-to-date, with a 5-day increase of 5.54%, a 20-day increase of 6.90%, and a 60-day increase of 3.53% [1]. - The number of shareholders as of October 20 is 28,200, an increase of 3.92% from the previous period, with an average of 16,650 circulating shares per person, a decrease of 3.77% [2]. Shareholding Structure - As of September 30, 2025, Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 10.4045 million shares, an increase of 6.5399 million shares from the previous period. The Southern Transformation Growth Flexible Allocation Mixed A Fund has exited the top ten circulating shareholders [3]. Business Segments - The main business revenue composition includes: butterfly valves (23.83%), flanges and forgings (23.09%), energy-saving services (18.78%), non-standard valves (9.66%), and others (7.35%), with ball valves (6.94%), blind plates (4.84%), pit filters (3.79%), and gate valves (1.72%) [1]. Industry Classification - Jiangsu Shentong is classified under the Shenwan industry as machinery equipment - general equipment - metal products, and is involved in sectors such as nuclear power, ultra-supercritical power generation, offshore wind power, carbon neutrality, and hydrogen energy [1].

Core Viewpoint - Jiangsu Shentong experienced a slight decline in stock price, with significant financing activity indicating high investor interest despite the drop [1][2] Financing and Trading Activity - On October 23, Jiangsu Shentong's stock price fell by 0.59%, with a trading volume of 159 million yuan [1] - The financing buy-in amount for Jiangsu Shentong on the same day was 26.09 million yuan, while the financing repayment was 23.57 million yuan, resulting in a net financing buy of 2.52 million yuan [1] - As of October 23, the total financing and securities lending balance for Jiangsu Shentong was 623 million yuan, representing 9.17% of its market capitalization, which is above the 90th percentile of the past year [1] Company Overview - Jiangsu Shentong Valve Co., Ltd. was established on January 4, 2001, and went public on June 23, 2010 [1] - The company specializes in the research, production, and sales of industrial special valves, with its main revenue sources being butterfly valves (23.83%), flanges and forgings (23.09%), energy-saving services (18.78%), and other valve types [1] Shareholder Information - As of October 20, Jiangsu Shentong had 28,200 shareholders, an increase of 3.92% from the previous period, with an average of 16,650 circulating shares per shareholder, a decrease of 3.77% [2] - The company reported a revenue of 1.068 billion yuan for the first half of 2025, reflecting a year-on-year growth of 1.52%, and a net profit of 150 million yuan, up 4.72% year-on-year [2] Dividend Distribution - Since its A-share listing, Jiangsu Shentong has distributed a total of 369 million yuan in dividends, with 195 million yuan distributed over the last three years [3] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the ninth largest circulating shareholder, holding 3.8645 million shares as a new shareholder, while Southern Transformation Growth Flexible Allocation Mixed A (001667) was the tenth largest, holding 3.5 million shares, a decrease of 500,000 shares from the previous period [3]

Core Viewpoint - Jiangsu Shentong's stock price has experienced fluctuations, with a recent decline of 2.03% and a year-to-date increase of 12.35%, indicating mixed market sentiment towards the company [1]. Financial Performance - For the first half of 2025, Jiangsu Shentong reported revenue of 1.068 billion yuan, representing a year-on-year growth of 1.52%, and a net profit attributable to shareholders of 150 million yuan, up 4.72% compared to the previous year [2]. Shareholder Information - As of September 30, the number of shareholders for Jiangsu Shentong decreased by 3.46% to 27,100, while the average number of circulating shares per person increased by 3.58% to 17,302 shares [2]. - The company has distributed a total of 369 million yuan in dividends since its A-share listing, with 195 million yuan distributed over the past three years [3]. Stock Market Activity - On October 22, Jiangsu Shentong's stock price was 13.51 yuan per share, with a trading volume of 88.14 million yuan and a turnover rate of 1.38%. The total market capitalization stood at 6.857 billion yuan [1]. - The net outflow of main funds was 9.703 million yuan, with significant selling pressure observed in large orders [1]. Business Overview - Jiangsu Shentong specializes in the research, production, and sales of industrial special valves, with its main revenue sources including butterfly valves (23.83%), flanges and forgings (23.09%), and energy-saving services (18.78%) [1]. - The company operates within the machinery and equipment sector, specifically in general equipment and metal products, and is involved in various concept sectors such as ultra-supercritical power generation, nuclear power, carbon neutrality, energy conservation, and offshore wind power [1].

Core Insights - Jiangsu Shentong experienced a decline of 2.77% in stock price on August 27, with a trading volume of 245 million yuan [1] - The company reported a financing buy-in of 33.12 million yuan and a financing repayment of 34.08 million yuan on the same day, resulting in a net financing outflow of 0.95 million yuan [1] - As of August 27, the total margin balance for Jiangsu Shentong was 372 million yuan, representing 5.49% of its market capitalization [1] Financing and Margin Data - On August 27, Jiangsu Shentong's financing buy-in was 33.12 million yuan, with a current financing balance of 372 million yuan, which is above the 90th percentile of the past year [1] - The company had no short selling activity on August 27, with a short selling balance of 0 [1] Company Overview - Jiangsu Shentong Valve Co., Ltd. was established on January 4, 2001, and went public on June 23, 2010 [1] - The company specializes in the research, production, and sales of industrial special valves, with its main revenue sources being butterfly valves (23.83%), flanges and forgings (23.09%), and energy-saving services (18.78%) [1] Shareholder and Financial Performance - As of August 20, Jiangsu Shentong had 25,200 shareholders, an increase of 2.47% from the previous period, with an average of 18,618 circulating shares per shareholder, a decrease of 2.41% [2] - For the first half of 2025, the company achieved a revenue of 1.068 billion yuan, a year-on-year increase of 1.52%, and a net profit attributable to shareholders of 150 million yuan, up 4.72% year-on-year [2] Dividend and Institutional Holdings - Since its A-share listing, Jiangsu Shentong has distributed a total of 369 million yuan in dividends, with 195 million yuan distributed in the last three years [3] - As of June 30, 2025, Hong Kong Central Clearing Limited was the ninth largest circulating shareholder with 3.8645 million shares, while Southern Transformation Growth Flexible Allocation Mixed A (001667) was the tenth largest with 3.5 million shares, a decrease of 500,000 shares from the previous period [3]

Core Viewpoint - Jiangsu Shentong (002438) focuses on the research and supply of valve equipment for metallurgy, energy, nuclear power, offshore engineering, hydrogen energy, and semiconductor fields, as well as the development and manufacturing of flanges and forgings for the chemical and nuclear power sectors [1] Group 1 - The company aims to provide energy-saving and CO governance technology services for industries such as steel metallurgy [1] - The management's goal is to achieve stable operational performance while enhancing overall competitiveness [1] - The company is committed to delivering sustainable and predictable returns to investors [1] Group 2 - The company emphasizes the importance of collective efforts from the board and all employees to achieve its objectives [1] - The long-term vision includes building a century-old Shentong and becoming a respected enterprise [1]

Group 1: Company Performance and Goals - The company focuses on valve equipment R&D and supply in metallurgy, energy, nuclear power, marine engineering, hydrogen energy, and semiconductor fields, aiming for steady operational performance and enhanced competitiveness to provide sustainable returns to investors [3] - The company has set a profit distribution plan for 2024, proposing a cash dividend of 1.75 yuan per 10 shares, totaling approximately 88.82 million yuan distributed on June 18, 2025 [9] - As of June 30, 2025, the company's inventory balance was approximately 1.006 billion yuan, with a provision for inventory impairment of about 9.137 million yuan [13] Group 2: Market and Investment Strategies - The company emphasizes value management and aims to enhance core competitiveness through continuous innovation and effective communication with investors [6] - The company plans to expand its international business, focusing on markets in the Middle East and Southeast Asia, particularly in the oil refining sector [21] - The company is currently in the "verification-small batch supply" stage for its semiconductor valve business, with significant upfront costs impacting short-term profitability [7] Group 3: Nuclear Power Business Insights - The company achieved new orders worth 483 million yuan in the first half of 2025, corresponding to approximately 6-7 newly approved nuclear power units [24] - The nuclear valve business is expected to see a growth rate of 15% in the first half of the year, with revenue recognition based on the actual delivery schedule of products [8] - The company has developed valve products that meet the standards for third and fourth-generation nuclear power plants, covering major domestic reactor types [25]