Changfu Co., Ltd. (920396) held a performance briefing for the year 2025, disclosing the progress of its nuclear power business and dividend policy

Changzhou Power Station Auxiliary Machine Co., Ltd. held a performance briefing for the 2025 annual report on May 18 through the "Investor Relations Interactive Platform" of Panoramic Network in a remote online manner. The company's chairman and general manager, Mr. Du Faping, vice general manager, Mr. Shao Jie, board secretary and chief financial officer, Mr. Xu Xuhua, and others attended the briefing. During this performance briefing, Changzhou Power Station Auxiliary Machine responded to questions regarding core technological advantages, nuclear power product R&D progress, dividend policies, and development strategies. The company disclosed that it invested RMB 8.8026 million in R&D in 2025, accounting for 3.41% of its operating income. In terms of nuclear power product R&D, the company launched projects such as "K3 type partial rotary nuclear-grade valve electric devices" and "Localization of nuclear-grade valve electric devices for ACPR and VVER reactor types" in 2025, stating that "product design and prototype manufacturing have been completed, and it is currently in the prototype identification testing phase"; it also initiated R&D projects for intelligent products such as "next-generation intelligent multi-turn electric actuators," stating that "product design, prototype trial production, and testing verification have been completed." Regarding core technologies, the company stated, "Relying on its competitive advantages in valve special motor drive technology, electric actuator intelligence technology, and nuclear power technology for electric actuators, we provide valve actuator products that meet the needs of different working environments." The company participated in the development of China's first generation of valve electric actuators and developed China's first generation of 1E grade (nuclear grade) valve electric actuators and three-phase asynchronous motors. By the end of 2025, "the company holds 55 patents, including 17 invention patents and 6 software copyrights." In 2025, the company was selected as a "Little Giant" enterprise in the seventh batch of national-level specialized and innovative enterprises. The company's "SND intelligent IoT electric actuators" and "1E grade DC electric devices HD-Z type for nuclear-grade valves" were recognized as "two new" technology products by the Jiangsu Provincial Department of Industry and Information Technology; the CAP1000 nuclear-grade valve 1E grade DC electric device HD-Z product was recognized as the first major equipment in Suzhou, Wuxi, and Changzhou in 2025. Regarding dividends, the company stated, "The total cash dividends distributed and proposed for the last three years amount to RMB 42.5896 million, accounting for 111.72% of the average annual net profit attributable to shareholders of the listed company over the last three years, exceeding 30%." The company will strictly implement the profit distribution policy in accordance with the "Articles of Association" and "Profit Distribution Management System." The company clarified its development strategy of "focusing on core business expansion, building smart factories, enhancing innovation capabilities, and activating market momentum." In terms of product application fields, the company's products are widely used in industries such as nuclear power, petrochemicals, metallurgy, municipal services, and electricity, and it stated, "With the steady advancement of national nuclear power construction and the growth of nuclear power installed capacity, there is certain growth space for nuclear power products; the automation upgrades, intelligent transformations, and localization replacements in related industries such as petrochemicals, metallurgy, municipal services, and electricity will also increase the demand for intelligent products." The company's products have applications in the localization of nuclear power equipment, oil and gas pipelines, urban water services, alumina, and ultra-supercritical power plants, and it will continue to deepen its efforts in these industry fields, focusing on certain sub-sectors to develop intelligent, miniaturized, modular, and lightweight products Tongbi Finance learned that the company specializes in the research, development, production, and sales of valve actuators. Relying on its competitive advantages in core technologies such as valve-specific motor drive technology, intelligent technology for electric actuators, and nuclear power technology for electric actuators, the company provides valve actuator products that meet the needs of different working environments. The company's valve actuator products are diverse, mainly including three categories: ordinary products, intelligent products, and nuclear power products. The products are widely used in industries and fields such as nuclear power, petrochemicals, metallurgy, municipal services, and electricity