江苏神通(002438) - 2023年12月7日调研活动附件之投资者调研会议记录

Group 1: Company Overview and Strategy - The roadshow was organized by Tianfeng Securities, with the company's Vice President and Secretary of the Board, Zhang Qiqiang, participating to introduce the company's basic situation, development strategy, and recent progress [2] - The company emphasizes compliance with the commitment letter and relevant regulations on information disclosure for listed companies [2] Group 2: Nuclear Power Projects and Orders - Six nuclear power units have been approved and started bidding for various equipment, with the company being a major supplier of nuclear-grade butterfly and ball valves [4] - The average order amount for each nuclear power unit is approximately 70 million [4] - The company is actively participating in the procurement bidding for valve equipment for new nuclear power units and has received corresponding orders [6] Group 3: Production Capacity and Market Demand - The current annual production capacity of nuclear valves can meet the needs of 6-8 new nuclear power units per year [7] - The company is upgrading production lines and replacing old facilities to increase capacity, which is expected to meet market demand in the short term [7] Group 4: Product Development and Market Share - The company has developed new products such as nuclear-grade instrument valves and diaphragm valves, enhancing its market presence [9] - The bidding success rate for the company's nuclear-grade valves is over 90%, with more than 150,000 valves in operation [10] Group 5: Financial Performance and Profitability - The company's valve products are priced using a cost-plus method, which stabilizes profit margins despite fluctuations in raw material prices [12] Group 6: International Business Expansion - The company is currently engaged in indirect exports through domestic large engineering contractors and plans to expand its international business [13]