Five years after the restart of nuclear power, Jia

2022-09-19
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After five years of restart of nuclear power, Jiangsu Shentong was the first to usher in good news. On September 13, Jiangsu Shentong announced that on September 9, the company and China Nuclear Engineering signed the equipment supply contract on the ordering of "project R" equipment, with a total contract amount of 150million yuan, accounting for about 11.11% of the company's 2019 operating revenue. The company said that the implementation of the contract will have a positive impact on the company's annual business performance

Jiangsu Shentong (), the leader of domestic nuclear power valves, welcomed good news

Jiangsu Shentong was founded in 2001, specializing in the research, development, production and sales of new special valves. Its main products include 145 series and more than 2000 specifications in seven categories, including butterfly valves and ball valves, which are widely used in metallurgy, nuclear power, thermal power and many other fields

in the field of nuclear power, Jiangsu Shentong is a well deserved king. Since 2008, the market share of the company's nuclear power valves has continued to exceed 90%. At present, the company is extending the industrial chain and laying out the back-end of nuclear power applications

on the evening of September 13, the company disclosed that it had signed an equipment supply contract with China Nuclear Power Engineering Co., Ltd. (hereinafter referred to as CNEEC) on the ordering of "project R" equipment, with a total contract amount of about 150million yuan (including tax)

the business performance of Jiangsu Shentong has achieved rapid growth. Since 2016, the company has achieved an average annual growth rate of more than 60% in net profit attributable to shareholders of listed companies (net profit for short). In the first half of this year, affected by the epidemic, the net profit of the company still maintained a small increase

it is worth mentioning that in the past two years, Jiangsu Shentong has changed its ownership twice. At present, the shareholding ratio of the first and second largest shareholders is relatively close. Under such circumstances, the company's business performance continues to grow at a high speed, which to some extent shows that the company has strong market competitiveness

nuclear power restart signed 150million orders

after five years, Jiangsu Shentong was the first to usher in good news after the restart of nuclear power

on September 13, Jiangsu Shentong announced that on September 9, the company signed an equipment supply contract with China Nuclear Power Engineering Co., Ltd. on the ordering of "project R" equipment, with a total contract amount of 150million yuan, accounting for about 11.11% of the company's operating revenue in 2019. The company said that the implementation of the contract will have a positive impact on the company's annual business performance

cnpec was established in 1985. Its business scope includes general contracting, project management of nuclear power and other nuclear projects, engineering consulting services, project related equipment procurement, material ordering, construction management, commissioning, preliminary project planning and project consulting services of nuclear power projects and other nuclear projects

cnpec is a regular customer of Jiangsu Shentong. In 2019, the total amount of transaction orders between Jiangsu Shentong and CNNC engineering was about 170 million yuan

in September, the signing of orders of 150million yuan will be beneficial to the business performance of Jiangsu Shentong this year and 2021

on September 2 this year, the executive meeting of the State Council decided to approve Hainan Changjiang nuclear power phase II project and Zhejiang Sanao nuclear power phase I project. The total effective investment of the two projects exceeded 70billion yuan

the approval of Hainan and Zhejiang nuclear power projects is a project that has been approved by the national standing committee to manufacture nuclear power skins wrapped with dry carbon fiber tape since 2015

since 2019, China has resumed the approval of new nuclear power units, including Zhangzhou nuclear power. When the fragments of composite fan blades hit the containment casing, the No. 1 unit and the No. 1 unit of taipingling nuclear power have been approved and started construction

previously, the nuclear power industry has been dormant for many years

the restart of nuclear power is undoubtedly a major benefit to Jiangsu Shentong. In the field of nuclear power, Jiangsu Shentong's products are absolutely competitive

Jiangsu Shentong is mainly engaged in the special valves and flanges of blast furnace gas full dry dedusting system, converter gas dedusting and recovery system, coke oven flue gas dedusting system and gas pipe system applied in the metallurgical field, nuclear grade butterfly valves, nuclear grade ball valves, nuclear grade flanges and forgings, non nuclear grade Butterfly valves, non nuclear grade ball valves and their supporting equipment applied in nuclear power plants, as well as coal chemical industry, ultra (ultra) critical thermal power, LNG ultra-low temperature valves R & D, production and sales of valves, flanges and forgings for petroleum and petrochemical industry

according to the company, since 2008, Jiangsu Shentong has been the main bid winner of nuclear grade butterfly valves and nuclear grade ball valves in a series of international tenders for valves used in new nuclear power projects in China, and has won more than 90% of the orders for nuclear grade butterfly valves and nuclear grade ball valves that have been tendered for these nuclear power projects, realizing the full localization of nuclear grade butterfly valves, ball valves and other products

in recent years, while realizing the improvement of old products and maintaining a continuous leading edge, Jiangsu Shentong has successively developed new products such as pit filters, nuclear level control valves, nuclear level instrument valves, nuclear level pneumatic diaphragms for PWR nuclear power plants, as well as products such as pneumatic sampling devices for spent fuel reprocessing, air lifts, feed liquid circulation systems, and storage wells. According to the company, it has contributed to the localization of key equipment in China's nuclear power construction projects and spent fuel reprocessing

according to insiders, nuclear power is the only clean energy with large-scale batch construction in the current new energy. China's nuclear power generation accounts for 4.88% and the global average is 10.15%. There is still much room for development

the performance of Jiangsu Shentong has increased rapidly without changing its ownership twice.

the development prospect of Jiangsu Shentong is expected, and the company's operating performance has also been showing a rapid growth momentum

in the first half of this year, Jiangsu Shentong achieved an operating revenue of 667 million yuan, a year-on-year decrease of 14.93%, and a net profit of 94.0707 million yuan, a year-on-year increase of 2.50%. The net profit after deducting non recurring profit and loss (hereinafter referred to as deducting non net profit) is 0.84, and the life and intensity need to be improved by 100 million yuan, with a year-on-year increase of 5.80%

by quarter, in the first and second quarters of this year, Jiangsu Shentong achieved operating revenue of 317 million yuan and 349 million yuan, a year-on-year decrease of 23.37% and 5.47%, and the decline in operating revenue in the second quarter decreased rapidly. The net profit in the same period was 41 million yuan and 53 million yuan, with a year-on-year change of -18.73% and 28.54%. Non net profit deducted was 39 million yuan and 45 million yuan, with a year-on-year change of -11.54% and 27.37%. In the second quarter, the net profit and non net profit deducted changed from decrease to increase, and the growth rate was close to 30%

it can be seen that Jiangsu Shentong has passed the epidemic impact period and its operation has gradually returned to normal

in the first half of this year, the company achieved a net operating cash flow of 32 million yuan, compared with a net outflow of 50 million yuan in the same period last year, with a year-on-year increase of 163.90%

on June 23, 2010, Jiangsu Shentong entered the A-share market. After the listing, the net profit increased in all other years except 2014 and 2015. Especially in 2016, the company's performance achieved rapid growth

from 2016 to 2019, Jiangsu Shentong achieved an operating income of 600million yuan, 756 million yuan, 1087 million yuan and 1.348 billion yuan, with a year-on-year increase of 40.46%, 25.84%, 43.91% and 23.98%. The corresponding net profit was 52 million yuan, 62 million yuan, 103 million yuan and 172 million yuan, with a year-on-year increase of 211.22%, 20.96%, 65.62% and 66.47%. The growth trend of non net profit and net profit in the same period was roughly the same

Changjiang business daily found that in addition to strong core competitiveness in the field of nuclear power, Jiangsu Shentong also has strong competitiveness in metallurgy, energy and chemical industry

in the field of metallurgical valve products, Jiangsu Shentong's main products have a market share of more than 70%. Baowu steel, Laiwu Steel, MCC CCID and other enterprises recognized Jiangsu Shentong as the annual excellent supplier. In the energy equipment industry, the special valves developed by the company for harsh working conditions of coal chemical industry have been successfully applied in Sinopec Zhongtian hechuang project, China Coal Yulin 1.8 million ton methanol project, Xinjiang Guanghui coal to gas project, Wanhua chemical polyurethane project and Dalian Hengli petrochemical project. The key valves supporting ultra (supercritical) thermal power developed by the company have been applied to Huaneng Power, Datang Power and other enterprises. The low-temperature valves have been successfully applied to the low-temperature methanol washing system of Sinopec's 200000 ton/year coal to hydrogen project. The domestic valves supporting the LNG terminal of the company have been put into operation in Sinopec Shandong LNG terminal. In addition, the special series valves for tank cars developed by the company have achieved localization for the container valves of CIMC Nantong company

it is worth mentioning that from March to June last year, Han Li, the current actual controller of Jiangsu Shentong, jumped to become the actual controller of the company through three placards and the transfer of shares and equity

the founder of Jiangsu Shentong is wujianxin, who was also the actual controller at the beginning of listing. On November 24, 2017, Wu Jianxin and senior executives Zhang Yifang, Huang Gaoyang, Yu Zhengtao and Chen Yongsheng transferred a total of 47.6899 million shares of the company to Fenglin volcano. Wu Jianxin's shareholding ratio fell from 19.64% to 15.01%. Fenglin volcano rose to the second place with a shareholding ratio of 9.82%, reaching 10-5~10-6 grams of major shareholders. Wu Jianxin and other senior executives transferred the 7.65% equity agreement to Fenglin volcano, and entrusted the voting rights of 7.55% equity to Fenglin volcano. In this way, Fenglin volcano will hold 17.47% equity of Jiangsu Shentong, become the largest shareholder, control 25.01% of the voting rights of the company in total, and become the controlling shareholder. Luo can will replace Wu Jianxin as the actual controller. In December 2018, Fenglin volcano increased its holdings by 1%

Han Li can be promoted to the actual controller of Jiangsu Shentong, which is related to Wu Jianxin. On March 28 last year, Wu Jianxin and other senior executives transferred 5.72% of their equity to Juyuan Ruili, which is actually controlled by Han Li

in recent three years, although Jiangsu Shentong has changed three actual controllers, the company's operation has not been affected, but has a positive trend

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