Investment Rating - The report maintains a "Buy" investment rating for the company [1] Core Views - The company has signed significant contracts, including a total of 1,885.25 million USD (approximately 135.17 million RMB) in contracts with a mining company in Kazakhstan [4] - The company has successfully developed a new forged composite liner product that significantly outperforms traditional cast steel in terms of hardness, wear resistance, impact resistance, and corrosion resistance [5] - The establishment of overseas production bases is progressing steadily, with a factory in Zambia already operational and expected to drive significant revenue growth [6] - The company has acquired a 22.5% stake in Veritas Resources AG, participating in the development of the Alacran copper-silver mine project in Colombia, which is expected to enhance its resource and manufacturing capabilities [7][8] - Revenue forecasts for 2025-2027 are projected at 11.53 billion, 14.44 billion, and 17.59 billion RMB, with corresponding EPS of 0.71, 0.96, and 1.25 RMB, indicating a strong growth trajectory [9] Summary by Sections Market Performance - The company has shown a positive market performance compared to the CSI 300 index [2][3] Investment Highlights - The new forged composite liner product has a lifespan of 7.5 months, which is 1.5-2 times longer than metal liners, leading to increased order growth [5] - The company is transitioning from an export trade model to a global production service model, enhancing its market presence [6] - The investment in the Alacran project is expected to yield a post-tax IRR of 23.8%, indicating strong economic potential [7] Financial Forecast - The company is expected to experience steady revenue growth, with a projected increase in net profit from 116 million RMB in 2024 to 212 million RMB in 2027 [11] - The gross margin is expected to remain stable, with slight fluctuations projected over the forecast period [12]

Group 1 - Taotao Automotive expects a net profit of 310 million to 360 million yuan for the first half of 2025, representing a year-on-year increase of 70.34% to 97.81% [1] - The company specializes in the research, production, and sales of all-terrain vehicles, electric golf carts, electric scooters, electric balance bikes, electric bicycles, and their accessories [1] - China Communications Construction Company plans to repurchase shares worth between 500 million to 1 billion yuan, with a maximum repurchase price of 13.58 yuan per share [1][2] Group 2 - Annoqi's subsidiary received a government subsidy of 1.65 million yuan, accounting for 34.77% of the company's latest audited net profit [2] - Annoqi focuses on the research, production, and sales of mid-to-high-end differentiated dyes [3] - Minfeng Special Paper announced the complete shutdown of its Nanhu plant, as its Haiyan plant is now capable of handling the production capacity [4] Group 3 - Aoto Electronics received a trademark registration certificate from Saudi Arabia, covering various electronic products [5] - Landi Group plans to acquire up to 20.1667% of the shares of Jujia Technology for a total price not exceeding 121 million yuan [6][7] - Lifan Pharmaceutical's Danpi phenol raw material drug has been approved for market launch, utilizing a new process that enhances efficiency and meets market demand [8] Group 4 - Shanghai Construction received a total of 548 million yuan in government subsidies, which accounts for 22.79% of the company's latest audited net profit [8] - Wanbangde's subsidiary received ethical approval for a key clinical trial of a new drug for Alzheimer's disease [8] - Prolo Pharmaceutical's subsidiary received approval for the market launch of a new raw material drug for liver cancer treatment [9] Group 5 - Chenguang New Materials received a government subsidy of 26 million yuan, representing 62.86% of the company's latest audited net profit [10] - Sanyou Medical's subsidiary received a government subsidy of 331,000 yuan, accounting for 28.86% of the company's latest audited net profit [11] - Weichai Heavy Machinery expects a net profit of 132 million to 151 million yuan for the first half of 2025, reflecting a year-on-year increase of 40% to 60% [12] Group 6 - Guanhao Biological announced the termination of its application for a specific stock issuance [13] - China Film plans to use up to 1.5 billion yuan of idle funds for cash management [14] - Aotai Biological intends to use up to 480 million yuan of idle raised funds for cash management [15] Group 7 - Helin Micro-Nano is planning to issue overseas shares and list on the Hong Kong Stock Exchange [17] - Jinpan Technology's vice president resigned due to personal health reasons [18] - Tongyi Zhong's chairman and general manager plan to reduce their shareholdings in the company [19] Group 8 - Naipu Mining signed an overseas contract worth 18.85 million USD [21] - Zhengye Technology completed an asset sale transaction worth 178 million yuan [23] - Lianxin Equipment won a bid for a project worth 157 million yuan from BOE [24] Group 9 - Smart Control plans to apply for a comprehensive credit line of up to 260 million yuan from banks [25] - Keyuan Pharmaceutical's application for issuing shares to purchase assets has been accepted by the Shenzhen Stock Exchange [27] - Meige Intelligent's H-share listing application materials have been received by the China Securities Regulatory Commission [29] Group 10 - Siwei Tuxin's subsidiary submitted an H-share listing application [32] - Metro Design's application for issuing shares to purchase assets has been accepted by the Shenzhen Stock Exchange [32] - Aeston submitted an application for H-share listing [34] Group 11 - Jiu Ri New Materials' shareholders plan to reduce their holdings by a total of 98,900 shares [34] - Yihua Tong's shareholder plans to reduce their holdings by up to 700,000 shares [35] - Xishanghai plans to distribute a cash dividend of 0.08 yuan per share [36] Group 12 - Zhejiang Natural plans to distribute a cash dividend of 1.97 yuan for every 10 shares [37] - Kouzi Jiao plans to distribute a cash dividend of 1.30 yuan per share [38] - Huitong Group plans to distribute a cash dividend of 0.023 yuan per share [40] Group 13 - Tongyong Co. plans to reduce its holdings by up to 0.31% of the company's shares [41] - China Shenhua plans to distribute a cash dividend of 2.26 yuan for every 10 shares [43] - Huangting International's executive director resigned due to personal reasons [45] Group 14 - Jinkai New Energy plans to distribute a cash dividend of 1 yuan for every 10 shares [46] - Heimu Dan plans to distribute a cash dividend of 0.041 yuan per share [47] - Feiyada plans to acquire all or part of the controlling stake in Chang Kong Gear [48]

Core Viewpoint - The company has signed a five-year standard supply contract with a mining company in Kazakhstan, amounting to a total of $18.85 million, which is approximately 135 million RMB. This contract is expected to positively impact the company's operating performance for the current year and the next four years, as well as aid in expanding its overseas market presence and achieving strategic development goals [1]. Group 1 - The contract duration is five years [1] - The total contract value is $18.85 million, equivalent to approximately 135 million RMB [1] - The contract is expected to have a positive impact on the company's performance for the current year and the next four years [1] Group 2 - The contract will assist the company in further expanding its overseas market [1] - The agreement aligns with the company's strategic development objectives [1]

Group 1 - The company, Nepean Mining (300818.SZ), has signed a standard supply contract with a mining company in Kazakhstan for two mining projects [1] - The total contract amount is approximately 18.85 million USD, equivalent to about 135 million RMB [1]

证券代码：300818 证券简称：耐普矿机 公告编号：2025-075 江西耐普矿机股份有限公司 关于签订日常经营重大合同的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 特别提示： 1、合同金额合计 1,885.25 万美元（不含税，折合人民币约 13,517.23 万元， 下同），合同自签订之日起生效。 2、合同的实施预计将对公司本年度及未来四年的经营业绩产生积极影响， 对公司进一步开拓海外市场，落实公司战略发展目标产生积极影响。 3、合同虽已正式签署并正式生效，但在合同履行过程中可能存在因外部宏 观环境重大变化、政策变化以及其他不可预见或不可抗力等因素，导致合同无法 全面履行的风险。敬请广大投资者注意投资风险。 （一）客户情况 根据合同相对方的保密要求，本次具体交易信息属于商业秘密、商业敏感信 息，公司在履行信息豁免披露的内部程序后，对销售对象和合同内容的有关信息 予以豁免披露。 （二）类似交易情况 一、合同签署情况 江西耐普矿机股份有限公司（以下简称"公司"）近日分别与哈萨克斯坦共 和国某矿业公司旗下两处矿山项目签订了《标准供货合同》，合同金额合计 ...

Core Viewpoint - The company, Naipu Mining Machinery, is planning to enhance its overseas market presence by issuing convertible bonds to raise up to 450 million yuan for a new manufacturing project in Peru and to supplement working capital [1][2]. Group 1: Financing and Investment - Naipu Mining Machinery intends to issue convertible bonds with a total amount not exceeding 450 million yuan, with 325 million yuan allocated for a new materials manufacturing project in Peru [2]. - The total investment for the Peru project is 571 million yuan, and upon full operation, it is expected to generate annual sales revenue of 506 million yuan and a net profit of approximately 66.15 million yuan [2]. - The company has previously raised funds through convertible bonds, totaling 1.22 billion yuan since its IPO in 2020 [3]. Group 2: Revenue and Profitability - In 2024, Naipu Mining Machinery achieved a record high revenue of 1.122 billion yuan, marking a year-on-year increase of 19.62%, with net profit rising by 45.46% to 116 million yuan [4]. - The company's overseas revenue reached 758 million yuan in 2024, accounting for 67.61% of total revenue, an increase of 12.26 percentage points from 2023 [4]. Group 3: Strategic Development - The company is focusing on international expansion, with ongoing projects in Zambia, Chile, and Peru, which will enhance production capacity and support a global strategic layout [5]. - Naipu Mining Machinery has consistently increased its R&D investment, totaling 143 million yuan over five years, reflecting its commitment to innovation in polymer composite materials for mineral processing [5].

江西耐普矿机股份有限公司 关于开展外汇套期保值业务的可行性分析报告 1、主要涉及币种及业务品种 一、开展外汇套期保值业务的目的 公司及下属子公司拟开展的外汇套期保值业务只限于从事与公司生产经营 所使用的主要结算货币相同的币种，包括但不限于美元等跟实际业务相关的币种。 外汇套期保值业务品种包括但不限于远期结售汇、外汇掉期、外汇期权、利率互 换、货币互换、利率掉期、利率期权等衍生产品业务。 随着江西耐普矿机股份有限公司（以下简称"公司"）国际化战略的持续推 进与全球业务的进一步发展，公司及子公司进出口业务不断的发展，外币结算需 求增加，汇率波动将对公司经营业绩产生一定的影响。为控制和消化汇率风险， 增强财务稳健性，公司及下属子公司拟开展外汇套期保值业务。 2、业务规模及资金来源 公司开展外汇套期保值业务，以具体经营业务为依托，以规避和防范汇率风 险为目的，以稳健为原则；不做无实际需求的投机性交易，不进行单纯以盈利为 目的外汇交易，不会影响公司主营业务发展。 公司及下属子公司将结合资产规模及业务需求情况使用自有资金或其他方 式自筹资金总额不超过 5,000 万美元或等值外币开展外汇套期保值业务，不涉及 募集资金。 ...

证券代码：300818 证券简称：耐普矿机 公告编号：2025-072 江西耐普矿机股份有限公司 关于拟投资建设 Alacran 铜金银矿项目的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 江西耐普矿机股份有限公司（以下简称"公司"）于 2025 年 6 月 24 日召开 第五届董事会第二十七次会议，审议通过了《关于拟投资建设 Alacran 铜金银矿 项目的议案》，Alacran 铜金银矿项目建设总投资额约 42,040.70 万美元，公司拟 按持股比例出资约 9,459 万美元。公司近 12 个月对外投资金额累计达到公司最 近一期经审计净资产的 50%，因此本议案尚需提交股东会审议。本次交易不构成 重大资产重组，不属于关联交易。本次交易存在不确定性，交易的最终达成有赖 于一系列先决条件的实现，包括需履行必要的外部审批、备案程序，敬请广大投 资者注意投资风险。 一、对外投资概述 公司于 2025 年 5 月 7 日召开第五届董事会第二十六次会议，审议通过了《关 于认购瑞士 Veritas Resources AG 股权的议案》，同意公司通过全资子公司新 ...

江西耐普矿机股份有限公司 关于为子公司新增担保额度的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 江西耐普矿机股份有限公司（以下简称"公司"）于 2025 年 6 月 24 日召开 第五届董事会第二十七次会议，审议通过了《关于为子公司新增担保额度的议案》， 本议案尚需提交股东会审议，现将相关事项公告如下。 一、担保情况概述 公司于 2025 年 4 月 1 日召开第五届董事会第二十三次会议、于 2025 年 4 月 23 日召开 2024 年年度股东大会，审议通过《关于为子公司提供担保额度预计的 议案》，同意公司合计为下属子公司（含全资、控股子公司）申请银行授信提供 担保总额度不超过 3,000 万美元。具体内容详见公司于 2025 年 4 月 3 日在巨潮 资讯网（http://www.cninfo.com.cn）披露的《关于为子公司提供担保额度预计的 公告》。 Naipu Peru Mineria Maquinaria S.A.C.（即耐普秘鲁矿机有限责任公司，以下 简称"秘鲁耐普"）、Naipu Maquinaria para la Minería ...

证券代码：300818 证券简称：耐普矿机 公告编号：2025-071 江西耐普矿机股份有限公司 关于拟对外投资设立哥伦比亚子公司的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 江西耐普矿机股份有限公司（以下简称"公司"）于 2025 年 6 月 24 日召开 第五届董事会第二十七次会议，审议通过《关于拟对外投资设立哥伦比亚子公司 的议案》，拟同意公司投资 2,000 万美元设立哥伦比亚子公司。公司近 12 个月 对外投资金额累计达到公司最近一期经审计净资产的 50%，因此本议案尚需提交 股东会审议，具体情况如下。 一、投资情况概况 公司于 2025 年 5 月认购了瑞士 Veritas Resources AG 公司 22.5%股权。Veritas Resources AG 公司增资完成后将收购并最终持有 CMH Colombia S.A.S.（以下简 称"CMH 公司"）100%股权。CMH 公司拥有哥伦比亚 San Matias 项目下 Alacran 铜金银矿等多处矿床的相关权益，具体内容详见公司于 2025 年 5 月 8 日在巨潮 资讯网（h ...