| 证券代码：300818 | 证券简称：耐普矿机 | | 公告编号：2026-014 | | --- | --- | --- | --- | | 债券代码：123265 | 债券简称：耐普转 | 02 | | 江西耐普矿机股份有限公司 关于"耐普转 02"交易异常波动的公告 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。 一、可转债发行上市概况 根据中国证券监督管理委员会（以下简称"中国证监会"）《关于同意江西耐 普矿机股份有限公司向不特定对象发行可转换公司债券注册的批复》（证监许可 〔2025〕3021 号），江西耐普矿机股份有限公司（以下简称"公司"）向不特定 对象发行 4,500,000 张可转换公司债券，期限 6 年，每张面值为人民币 100 元， 募集资金总额人民币 450,000,000.00 元。经深圳证券交易所（以下简称"深交所"） 同意，公司 45,000.00 万元可转换公司债券于 2026 年 1 月 30 日起在深交所挂牌 交易，债券简称"耐普转 02"，债券代码"123265"。 根据《江西耐普矿机股份有限公司向不特定对象发行可转换公 ...

2月3日，耐普矿机涨5.08%，截至发稿，报48.37元/股，成交1.66亿元，换手率3.23%，总市值81.64亿 元。 资料显示，江西耐普矿机股份有限公司位于江西省上饶市上饶经济技术开发区经开大道318号，成立日 期2005年10月14日，上市日期2020年2月12日，公司主营业务涉及从事重型矿山选矿装备及其新材料耐 磨备件的研发、生产、销售及服务等业务。主营业务收入构成为：矿用橡胶耐磨备件71.25%，矿用金 属备件14.05%，选矿设备10.44%，矿用管道3.69%，其他0.57%。 从耐普矿机十大流通股东角度 数据显示，东证资管旗下1只基金位居耐普矿机十大流通股东。东方红收益增强债券A（001862）三季 度新进十大流通股东，持有股数100万股，占流通股的比例为0.91%。根据测算，今日浮盈赚取约234万 元。 东方红收益增强债券A（001862）成立日期2015年11月2日，最新规模20.8亿。今年以来收益1.31%，同 类排名489/7082；近一年收益14.13%，同类排名191/6277；成立以来收益70.15%。 东方红收益增强债券A（001862）基金经理为孔令超。 截至发稿，孔令超累 ...

证券日报网讯 2月2日，耐普矿机在互动平台回答投资者提问时表示，截至2026年1月30日收盘，公司股 东人数为11640户。 （文章来源：证券日报） ...

| 证券代码：300818 | 证券简称：耐普矿机 | | 公告编号：2026-013 | | --- | --- | --- | --- | | 债券代码：123265 | 债券简称：耐普转 | 02 | | 江西耐普矿机股份有限公司 关于签订募集资金三方监管协议的公告 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。 一、募集资金基本情况 根据中国证券监督管理委员会（以下简称"中国证监会"）《关于同意江西耐 普矿机股份有限公司向不特定对象发行可转换公司债券注册的批复》（证监许可 〔2025〕3021 号），江西耐普矿机股份有限公司（以下简称"公司"）向不特 定对象发行 4,500,000 张可转换公司债券，每张面值为人民币 100 元，募集资金 总额人民币 450,000,000.00 元。扣除承销费用（不含增值税）人民币 5,660,377.36 元后，实收募集资金人民币 444,339,622.64 元于 2026 年 1 月 22 日汇入公司开立 的募集资金专户。本次向不特定对象发行可转换公司债券各项发行费用（不含增 值税）合计人民币 7,950,123 ...

Summary of Key Points from Conference Call Records Industry Overview - The conference call discusses the mining equipment and process automation industries, highlighting trends in capital expenditure and technological advancements in artificial intelligence (AI) [1][2]. Key Insights and Arguments - **Mining Equipment Industry**: - Global mining capital expenditure is on the rise, driven by increasing metal prices, which benefits the mining equipment sector [1]. - Chinese mining companies expanding overseas present investment opportunities in equipment, with both short-term and long-term value [1][15]. - **Process Automation and AI**: - Rapid development of generative AI in process industries is benefiting companies like Zhongkong Technology, which aims for 200 million RMB in revenue from AI-related initiatives by 2026 [1][7]. - Major automation firms like Emerson, Siemens, and Honeywell are making significant strategic adjustments and innovations in AI, with Emerson's software-related revenue reaching 1.2 billion USD in 2025 [5]. - **Metal Prices**: - Metal prices are driven by multiple factors, including AI demand, energy transition, and supply constraints. Notably, copper prices are influenced by AI and new energy demands, while tungsten prices are rising due to supply tightening in China [1][14]. - The overall trend for metal prices is upward, supported by inflation and declining resource reserves [13]. Additional Important Content - **Market Dynamics**: - The rigid mining truck market is dominated by Caterpillar and Komatsu, which hold 80% market share, benefiting from substantial aftermarket revenues [1][11]. - The electric vehicle adoption rate for wide-body trucks is expected to exceed 50% by 2026, with Chinese companies expanding into overseas markets [12]. - **Company Performance**: - Nepe Mining Machinery has seen significant growth in new orders, particularly overseas, with a 60% increase in international orders [1][20]. - Oke Yi is benefiting from rising tungsten prices and supply-side constraints, with a projected 150% increase in tungsten powder prices from 2025 to 2026 [4][20]. - **Investment Recommendations**: - Investors are advised to focus on companies with strong exposure to rising metal prices, high overseas market shares, and those in the consumables sector, which show greater elasticity compared to equipment manufacturers [19]. - **Market Characteristics**: - A-share listed companies in the mining equipment sector typically have a high revenue share from coal mining, around 70%-80% [17]. - The export of mining machinery from China significantly exceeds imports, indicating a strong domestic manufacturing capability [18]. This summary encapsulates the critical insights and trends discussed in the conference call, providing a comprehensive overview of the mining equipment and process automation industries, along with investment opportunities and market dynamics.

从耐普矿机十大流通股东角度 数据显示，东证资管旗下1只基金位居耐普矿机十大流通股东。东方红收益增强债券A（001862）三季 度新进十大流通股东，持有股数100万股，占流通股的比例为0.91%。根据测算，今日浮亏损失约249万 元。 2月2日，耐普矿机跌5.02%，截至发稿，报47.09元/股，成交1.21亿元，换手率2.32%，总市值79.48亿 元。 东方红收益增强债券A（001862）基金经理为孔令超。 资料显示，江西耐普矿机股份有限公司位于江西省上饶市上饶经济技术开发区经开大道318号，成立日 期2005年10月14日，上市日期2020年2月12日，公司主营业务涉及从事重型矿山选矿装备及其新材料耐 磨备件的研发、生产、销售及服务等业务。主营业务收入构成为：矿用橡胶耐磨备件71.25%，矿用金 属备件14.05%，选矿设备10.44%，矿用管道3.69%，其他0.57%。 截至发稿，孔令超累计任职时间9年184天，现任基金资产总规模252.77亿元，任职期间最佳基金回报 80.29%， 任职期间最差基金回报-0.12%。 东方红收益增强债券A（001862）成立日期2015年11月2日，最新规模20.8 ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The sustainability of polarized valuations depends on the direction of the equity market. The report presents three scenarios for the equity market and corresponding convertible bond strategies: 1) If the spring rally continues, the Shanghai Composite Index breaks through 4,200, and the market style shifts from small - cap to large - cap, it is recommended to select convertible bonds related to the battery, automotive/robot/intelligent driving, edge - side AI, and innovative drug/CDMO sectors in the growth technology sector; 2) If the broad - based index continues the January oscillation and the small - cap style remains dominant, focus on core targets in popular tracks such as commercial space, AIDC - related gas turbines/liquid cooling, semiconductor equipment and materials, power semiconductors, and chemical industries; 3) If the equity market turns down, it is recommended to reduce positions first and then focus on defensive sectors like banks, power, and pig farming [2][20]. Summary According to Relevant Catalogs Market Focus from January 26 - January 30, 2026 - **Stock Market**: Daily trading volume remained high with rapid sector rotation. The precious metals sector led the gains but had a significant decline on Friday. The A - share oil and gas sector performed well due to the potential conflict risk between the US and Iran. Some previously popular sectors such as commercial space and space photovoltaics had significant pullbacks. Different sectors rose and fell on different days. In terms of industries, most Shenwan primary industries declined, with petroleum and petrochemicals, communications, coal, non - ferrous metals, and agriculture, forestry, animal husbandry, and fishery leading the gains, while national defense and military industry, power equipment, automotive, and computer sectors performing poorly [8][9]. - **Bond Market**: The central bank's open - market operations were mainly net injections, and the money market shifted from tight to loose. Bond market sentiment was generally strong. The 10 - year Treasury bond yield closed at 1.81% on Friday, down 1.86bp from the previous week [9]. - **Convertible Bond Market**: Most convertible bond issues declined. The CSI Convertible Bond Index fell 2.61% for the week, the median price dropped 2.22%, the arithmetic average parity fell 3.70%, and the overall market conversion premium rate increased 1.12% compared to the previous week. The arithmetic average conversion premium rates of convertible bonds in different parity ranges changed, and they were at high percentile values since 2023 [9]. Viewpoints and Strategies from February 2 - February 6, 2026 - After the convertible bond market adjusted with the equity market last week, the sustainability of polarized valuations depends on the equity market's direction. Three scenarios and corresponding strategies are proposed as mentioned in the core viewpoints [2][20]. Valuation Overview - As of January 30, 2026, the average conversion premium rates of equity - biased convertible bonds in different parity ranges were at high percentile values since 2010 and 2021. The average YTM of debt - biased convertible bonds with a parity below 70 yuan was at a low percentile value. The average implied volatility of all convertible bonds and the difference between the convertible bond implied volatility and the long - term actual volatility of the underlying stocks were at high percentile values [21]. Primary Market Tracking - **Last Week (January 26 - January 30, 2026)**: No convertible bonds were announced for issuance. Lianrui Convertible Bond and Naipu Convertible Bond 02 were listed. Lianrui Convertible Bond has a scale of 695 million yuan, and Naipu Convertible Bond 02 has a scale of 450 million yuan [28][29]. - **Future Outlook**: No convertible bonds are announced for issuance or listing in the next week (February 2 - February 6, 2026). As of now, there are 100 convertible bonds waiting to be issued, with a total scale of 155.9 billion yuan, of which 8 have been approved for registration, with a total scale of 6.16 billion yuan [30][31].

Group 1 - The A-share market saw a collective decline in lithium mining stocks, with notable drops including Nepean Mining falling nearly 12% and several other companies hitting the daily limit down [1] - The main contract for lithium carbonate experienced a limit down, with a decrease of 11%, currently priced at 148,200 yuan per ton [1] Group 2 - Specific stock performances included Nepean Mining down 11.46% with a market cap of 8.152 billion yuan, and other companies like Meiyuan Co. and Tibet Zhufeng both down 10% [2] - Other significant declines included Western Mining down 9.99% with a market cap of 84.8 billion yuan, and Tianqi Lithium down 8.74% with a market cap of 88.5 billion yuan [2]

【招商机械】重点推荐耐普矿机！ 全球矿业预期景气向上的大β下，耐普作为具备"出海+新品+扩产"等属性的选矿环节耐磨备件龙头充分受益，业绩 在25Q3迎来单季拐点后，有望进入新一轮上行通道，短期变化与中长期价值兼备，建议重视！ 矿机出海：公司21年起海外收入占比稳定保持在50%以上，与紫金/洛钼、力拓/淡水河谷等国内外矿企龙头深 度绑定，有望充分受益即将到来的海外矿企资本开支景气上行期 新品兑现： 矿机出海：公司21年起海外收入占比稳定保持在50%以上，与紫金/洛钼、力拓/淡水河谷等国内外矿企龙头深 度绑定，有望充分受益即将到来的海外矿企资本开支景气上行期 新品兑现：公司24年成功研制全球首创的"高合金锻造橡胶复合衬板"新品（较主流的铸造衬板性能断档提 升），25年国内试用推广/在手订单1亿/确收1500万，26年海外试用推广/订单预期3亿/确收预期1+亿，有望贡献可 观业绩增量 产能扩张：公司现有产能已供不应求，蒙古国、赞比亚生产基地已投产，智利、秘鲁生产基地预计于26H2、 27H2投产，新增产值合计7亿；后续还有塞尔维亚生产基地规划，是我们此前强调需要重视的海外新建产能步入收 获期的标的 【招商机械】重点 ...

| SZ | 明牌珠宝 | 6.74 | -3.02% | -0.21 | | --- | --- | --- | --- | --- | | | 002574 | | | | | SZ | 潮宏基 | 13.85 | -6.48% | -0.96 | | | 002345 | | | | | SZ | 深中华A | 8.13 | -4.91% | -0.42 | | | 000017 | | | | | SZ | 国城矿业 | 29.01 | -6.06% | -1.87 | | | 000688 | | | | | SZ | 萃华珠宝 | 14.27 | -10.03% | -1.59 | | | 002731 | | | | | SH | 莱绅通灵 | 10.28 | -2.37% | -0.25 | | | 603900 | | | | | 创 | 耐普矿机 | 53.00 | -5.84% | -3.29 | | | 300818 | | | | 1月29日早盘， 黄金概念股突然快速跳水 。截至09:51，萃华珠宝跌停，耐普矿机跌超7%，潮宏 基、国城矿业、深中华A、明牌珠宝、莱绅通灵等跟跌。 ...