证券日报网讯江苏神通（002438）8月27日发布公告，在公司回答调研者提问时表示，公司设立的子公 司神通半导体科技(南通)有限公司，作为公司在半导体领域的长期研发平台，专注于真空控压蝶阀、超 高纯工艺气体阀等半导体用特种阀门的自主研发与配套。目前，这些关键产品已进入用户端样机验证阶 段，部分已实现小批量导入客户产线，具备向市场推广条件。公司围绕半导体及光伏行业所需关键零部 件，构建涵盖机械、电子、软件、测控等多专业融合的研发体系，提供深度客制化服务，以满足集成电 路、光伏、显示面板等行业的高端需求。 ...

（文章来源：证券日报） 证券日报网讯江苏神通8月25日在互动平台回答投资者提问时表示，公司已于2022年12月设立子公司神 通半导体科技（南通）有限公司，专注于真空控压蝶阀、超高纯工艺气体阀等半导体设备用特种阀门的 自主研发与配套。目前部分关键产品已进入用户端样机验证阶段，部分已实现小批量导入客户产线，具 备向市场推广条件。公司围绕半导体及光伏设备所需关键零部件，构建涵盖机械、电子、软件、测控等 多专业融合的研发体系，提供深度客制化服务，以满足集成电路、光伏、显示面板等行业的高端需求。 ...

Investment Rating - The report maintains a "Buy" rating for the company [6][8]. Core Views - The company achieved a revenue of 2.143 billion yuan in 2024, a year-on-year increase of 0.48%, with net profits of 295 million yuan, up 9.68% year-on-year [2]. - The nuclear power sector is experiencing high growth, with new nuclear unit approvals becoming normalized, leading to a 37.2% increase in orders to 1.102 billion yuan in 2024 [5]. - The energy equipment sector faced pressure, while the energy-saving and environmental protection business saw significant growth, primarily due to new projects coming online [3]. Financial Performance - The company's gross margin and net profit margin for 2024 were 33.53% and 13.76%, respectively, reflecting improvements of 1.84 and 1.15 percentage points year-on-year [4]. - The company expects revenues of 2.417 billion yuan, 2.678 billion yuan, and 2.980 billion yuan for 2025, 2026, and 2027, respectively, with net profits projected at 347 million yuan, 408 million yuan, and 469 million yuan [6][7]. Business Segments - In 2024, the company generated revenue of 743 million yuan from nuclear power, 425 million yuan from energy-saving and environmental protection, 412 million yuan from metallurgy, and 403 million yuan from energy equipment, with respective year-on-year changes of -7.06%, +63.06%, -13.38%, and -38.18% [3]. - The company is advancing in the hydrogen energy sector and has developed high-pressure valves for various applications, indicating new growth opportunities [5]. Future Outlook - The company is expected to continue its growth trajectory, supported by stable traditional business and emerging sectors, with earnings per share projected to reach 0.68 yuan, 0.80 yuan, and 0.92 yuan from 2025 to 2027 [6].