On November 25th, Guolonghui reported that in the first three quarters of 2023 and 2024, Neway Valve (603699.SH) had a high level of activity in its overseas business, with increasing global demand for energy construction, resulting in improvements in orders, sales, and other aspects. In 2023, the company's revenue and profit increased by 36.59% and 54.85% respectively. In 2024Q1-Q3, the company's net income attributable to shareholders increased by 40.7% year-on-year. The valve industry has broad market space, with abundant opportunities for Chinese valves in both the domestic market and export markets. The current industry is experiencing moderate growth overall, with high activity in the offshore oil service, LNG, and nuclear power industries. Looking at the valve production in the industry from Q1 2020 to Q1 2024, the industry has shown moderate growth overall. The company's casting and forging technology is at a leading level in the domestic valve casting and forging industry, and its affiliate Newell Brands CNC has been focusing on the research, development, production, and sale of medium to high-end CNC machine tools since its establishment. A "buy" rating is given.