Company and Industry Summary Company Overview - **Company**: 博雷顿 (Boreton) - **Industry**: Electric Mining Trucks and Autonomous Driving Technology Key Points from the Conference Call Financial Performance - **2025 Revenue**: Achieved 780 million yuan, a year-on-year increase of 22.7%, driven by rapid growth in electric wide-body dump truck business [3] - **Gross Profit**: Increased from 36.83 million yuan in 2024 to 86.17 million yuan in 2025, a growth of 134%, with an overall gross margin improvement of 5.3 percentage points [3] - **Operating Loss**: Recorded a loss of 318 million yuan, which expanded mainly due to cautious accounting treatments, including increased provisions for bad debts and tax liabilities [3][4] - **Cash Flow**: Operating cash flow net outflow narrowed by 35% to 170 million yuan compared to 270 million yuan in 2024 [3] Business Segments - **Electric Mining Trucks**: - Achieved nearly 80% year-on-year growth, with high-end models accounting for 67% of revenue, raising average sales price to approximately 1.4 million yuan [4][12] - 2026 delivery target set at a minimum of 1,000 units, including 200 units for overseas markets [9] - **Overseas Business**: - Focused on Africa, with two solar-storage microgrid projects in the Democratic Republic of Congo expected to contribute 200-300 million yuan in sales revenue by 2026 [2][14][15] - **Autonomous Driving**: - Introduced an "end-to-end + light map" solution, reducing mapping time from 6 hours to 0.5 hours, achieving centimeter-level precision [5][6] - Anticipates significant revenue from autonomous driving with a target of 500 units delivered in 2026 [8][17] Strategic Outlook - **2026 Goals**: - Aiming for profitability driven by increased market penetration of electric vehicles and autonomous technology [2][7] - Plans to expand partnerships with major clients like Huawei and Sunshine Power to develop global microgrid markets [7] - **Market Trends**: - Observed a shift from fuel-powered mining trucks to electric models due to rising oil prices, which may accelerate demand [10] - Engaging with major international mining companies like BHP and Rio Tinto, although order cycles are lengthy [11] Competitive Advantages - **Technology**: - Self-developed core components and integrated sensor systems provide a competitive edge over traditional outsourcing models [5][24] - Unique capabilities in non-structured road perception create a barrier against competitors entering the mining sector [21][22] - **Operational Efficiency**: - The autonomous driving system requires significantly fewer personnel compared to competitors, enhancing operational efficiency [18][23] Future Developments - **Zero-Carbon Mining Solutions**: - Core strategy focuses on providing zero-carbon power solutions for overseas mining operations, alongside electric vehicle and autonomous technology development [7] - **Investment in Solar-Storage Projects**: - Plans to diversify funding sources for overseas projects, capitalizing on high return rates compared to domestic investments [16] Risks and Considerations - **Accounting Adjustments**: - The increase in reported losses is attributed to strategic risk clearance rather than operational issues, with expectations of potential profit recovery from previously written-off receivables [3][8] This summary encapsulates the key insights and strategic directions of Boreton as discussed in the conference call, highlighting its financial performance, business segments, competitive advantages, and future outlook.

Financial Performance - The company's revenue for the year ended December 31, 2025, was RMB 779.5 million, representing a year-on-year growth of 22.7% compared to RMB 635.5 million in 2024[5]. - Gross profit for the same period was RMB 86.2 million, a significant increase of 133.9% from RMB 36.8 million in 2024, with a gross margin of 11.1%, up 5.3 percentage points year-on-year[5]. - The company reported a net loss of RMB 318.2 million for the year, which widened by 15.9% compared to a loss of RMB 274.5 million in 2024, primarily due to increased impairment losses and tax expenses[5]. - Other income for the reporting period was RMB 6.0 million, a decrease of RMB 18.7 million compared to 2024, primarily due to a one-time gain from the disposal of an associate in 2024 amounting to RMB 16.3 million[25]. - The company reported a pre-tax loss of RMB 18,796 thousand in 2025, compared to RMB 9,187 thousand in 2024, indicating an increase in financial costs[89]. - The company recognized an income tax expense of RMB 38,045,000 for the year ended December 31, 2025, significantly higher than RMB 90,000 in 2024, despite a pre-tax loss of RMB 280,157,000[93]. - The company reported a significant increase in trade and other receivables impairment losses, totaling RMB 120,023,000 for the year ended December 31, 2025, compared to RMB 80,496,000 in 2024[92]. Revenue Breakdown - Sales of electric wide-body dump trucks reached RMB 646.1 million, accounting for 82.9% of total revenue, with a year-on-year increase of 77.2% from RMB 364.6 million in 2024[8]. - The revenue from electric loaders decreased by 56.9% to RMB 96.7 million from RMB 224.2 million in 2024, reflecting strategic adjustments in response to market competition[10]. - Revenue from electric wide-body dump trucks accounted for 82.9% of total revenue in 2025, with models featuring a battery capacity exceeding 650kWh making up over 80% and those with autonomous driving capabilities exceeding 25%[23]. - Revenue from external customers in China was RMB 774,237 thousand in 2025, up 21.8% from RMB 635,457 thousand in 2024[86]. Strategic Focus and Development - The company is focusing on the development of electric mining trucks, with ongoing projects for new models and technologies, including a 135-ton extended-range model and autonomous driving capabilities[11]. - The autonomous driving business has made significant progress, with successful trials of 135-ton and 145-ton autonomous mining trucks in typical mining areas, achieving industry-leading vehicle control precision and operational safety[12]. - The overall business strategy emphasizes the integration of energy supply, equipment application, and intelligent operations to enhance competitiveness in the market[9]. - The company plans to continue investing in R&D for advanced technologies, including 3D perception algorithms and end-to-end models for autonomous driving systems[12]. - The company is focusing on overseas markets with abundant mineral resources but insufficient power supply, particularly in Africa and Southeast Asia, to implement integrated "solar storage power solutions + electric engineering equipment" business models[13]. - By 2025, the company aims to achieve significant breakthroughs in the African market, establishing operations in key regions such as the Democratic Republic of the Congo, Sierra Leone, and Zimbabwe, with large PPA projects already signed[13]. - The company is committed to building a mining autonomous driving ecosystem by collaborating with strategic investors and core hardware suppliers to create customized mining products and a nationwide hardware maintenance system[15]. - The company aims to establish a stable cooperation ecosystem with major state-owned enterprises, enhancing its influence in the overseas solar storage solutions market through comprehensive capabilities[16]. - The company is focusing on differentiated project layouts for various mining scales, with plans to implement fully unmanned operations in large open-pit mines and transitional mixed operations in smaller mines[16]. - The company is deepening its collaboration with industry research institutes and universities to advance key technologies in mining autonomous driving, including unstructured road perception and multi-vehicle collaborative scheduling[18]. Investment and Financial Management - The company plans to enhance its product matrix by developing electric wide-body dump trucks with features like range extension, battery swapping, and heavy-duty models, targeting a production capacity of 120 tons[16]. - The company will enhance its internal management and internal control systems to optimize operational management mechanisms and risk control strategies[20]. - The company will implement a lean cost control system across hardware procurement, R&D investment, project delivery, and operational services[22]. - The company will promote the development of a standardized platform for self-developed hardware and software to continuously reduce marginal costs in R&D and production[22]. - The group had unconfirmed capital expenditures of RMB 250.9 million as of December 31, 2025, primarily for the acquisition of property and equipment and capital expenditures related to overseas solar storage microgrid projects[52]. - The net proceeds from the global offering amounted to approximately HKD 147.8 million, with 40% allocated for technological advancements and new product development, and 10% for expanding sales and service networks[56]. - The total proceeds from the placement of new H-shares were approximately HKD 240.0 million, with 70% earmarked for investment and development of overseas solar storage projects[58]. Employee and Governance - The group employed 346 employees as of the reporting period, with employee costs amounting to approximately RMB 130.3 million, down from RMB 151.2 million in 2024[54]. - The company has adopted corporate governance practices in line with the applicable codes since its listing on May 7, 2025[61]. - The board of directors includes both executive and non-executive members, ensuring diverse oversight[115]. - The company aims to enhance its market presence through strategic expansions and potential mergers[112]. - The company is committed to adhering to the standards set forth in the listing rules and corporate governance[114]. Assets and Liabilities - The total current assets as of the reporting period end were RMB 1,314.7 million, an increase from RMB 1,019.6 million as of December 31, 2024[34]. - Cash and cash equivalents increased by 75.8% to RMB 350.3 million from RMB 199.3 million as of December 31, 2024, mainly due to proceeds from a global offering and the placement of new H-shares[35]. - The total liabilities increased to RMB 1,440.2 million from RMB 756.1 million as of December 31, 2024, resulting in a debt-to-asset ratio of 64.1% compared to 52.6% in 2024[34]. - The company's total equity increased to RMB 806,987 thousand in 2025 from RMB 682,281 thousand in 2024, reflecting a stronger capital base[72]. - The company's total assets as of December 31, 2025, amounted to RMB 1,314,715 thousand, an increase from RMB 1,019,640 thousand in 2024[71]. - Non-current assets increased significantly to RMB 932,513 thousand in 2025 from RMB 418,700 thousand in 2024, indicating expansion in long-term investments[71]. Market and Operational Insights - The company is actively expanding its global business footprint in clean energy solutions, aiming to become a leading provider of zero-carbon smart mining services[7]. - The group has completed the construction of solar storage power stations, which are ready for operation, and has restructured its overseas business framework in collaboration with financial institutions[13]. - The company is expanding its overseas presence by leveraging existing market advantages in the Democratic Republic of the Congo and Zambia while exploring emerging markets in Guinea and South Africa[16]. - The company has not engaged in any foreign currency transactions that would significantly impact the financial statements due to the application of the revised IFRS 21[76].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Breton Technology Co., Ltd. 博雷頓科技股份公司 （於中華人民共和國成立的股份有限公司） （股份代號：1333） 董事會會議召開日期 博雷頓科技股份公司（「本公司」，連同其附屬公司統稱「本集團」）董事會（「董事 會」）茲通告謹定於2026年3月30日（星期一）舉行董事會會議，以考慮及通過本集 團截至2025年12月31日止年度之全年業績及其發佈，建議之末期股息（如有）以 及處理其他事項。 博雷頓科技股份公司 主席、總經理兼執行董事 陳方明先生 香港，2026年3月18日 於本公告日期，董事為(i)執行董事陳方明先生、邱德波先生、孫康華先生及楊慧 女士；(ii)非執行董事曹海毅先生及王振坤先生；及(iii)獨立非執行董事周元先 生、桂振華先生、江百靈博士及嚴志雄先生。 承董事會命 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Breton Technology Co., Ltd. 博雷頓科技股份公司 （於中華人民共和國成立的股份有限公司） （股份代號：1333） 自願公告 投資框架協議 本公告乃由博雷頓科技股份公司（「本公司」，連同其附屬公司統稱「本集團」）自願 作出。 本公司董事會（「董事會」）欣然宣佈，於二零二六年三月十日（交易時段後），本 公司與GEOCENTRIC INTERACTION MINING COMPANY LIMITED（「目標公 司」）訂立投資框架協議（「該協議」），內容有關擬投資目標公司。該協議為訂約雙 方就本次投資的框架性約定，本次投資須待訂立正式交易文件後方可作實。 日期：二零二六年三月十日 訂約方： 1 (i) 本公司（作為投資方）；及 (ii) GEOCENTRIC INTERACTION MINING COMPANY LIMITED（作為目標公 司） 擬投資資產及代價 根據投資框架協議，本公 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Breton Technology Co., Ltd. 博雷頓科技股份公司 （於中華人民共和國成立的股份有限公司） （股份代號：1333） 須予披露的交易 訂立建築施工總承包合同 本公司欣然宣佈，本公司之間接非全資附屬公司MINIERE VERTE SAS（作為發 包人）於2026年3月5日與STE DE DEVELOPPEMENT DU COMMERCE ET DE CONSTRUCTION（作為承包人）訂立了一份金川如瓦西數字能源項目建築施工 總承包合同。據此，承包人將負責本項目之土建及安裝施工工作，該合同的暫 定合同總價為17,080,000美元（相當於約133,224,000港元）。 上市規則之涵義 由於該合同及其項下擬進行之交易的最高適用百分比率（定義見上市規則）超 過5%但低於25%，因此，該合同項下擬進行之交易構成本公司的須予披露的交 易，須遵守上市規則第14章有關申報及公告的規定。 緒言 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 博雷頓科技股份公司 (「本公司」) 呈交日期: 2026年3月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 138,410,231 RMB | | 1 | RMB | | 138,410,231 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 138,410,231 RMB | | 1 | RMB | | 138,410,231 | | 2. 股份分類 | 普通股 ...

Group 1 - The core event for the company is the unlocking of H-share shareholder shares on May 6, 2026, which represents a significant proportion of the total share capital, potentially impacting stock liquidity [1] - The company will no longer have a supervisory board and will delegate related powers to the audit committee of the board of directors starting from February 5, 2026, indicating a change in corporate governance structure [1] - The company is making ongoing progress in its business operations, including advancements in overseas solar storage projects and the commercialization of autonomous driving technology, although these developments are part of long-term operational dynamics rather than specific time-bound events [1]

Group 1 - The company, Boleton (01333), announced a share buyback plan [1] - The total amount allocated for the buyback is HKD 14.9879 million [1] - The company plans to repurchase 710,800 shares [1]

Group 1 - The company, Boreton (01333), announced a share buyback plan, intending to repurchase 710,800 shares at a cost of HKD 14.9879 million [1] - The buyback is scheduled to take place on February 13, 2026 [1] - This move indicates the company's strategy to enhance shareholder value through capital management [1]

Group 1 - The company, Boleton (01333), announced a share buyback plan on February 13, 2026, with an investment of HKD 14.9879 million to repurchase 710,800 shares [1]