NAIPU MINING(SZ:300818) Ge Long Hui·2025-10-13 08:32Summary of Key Points Core Viewpoint - The company, Nepean Mining Machinery (300818.SZ), is expected to report a significant decline in net profit for the first three quarters of 2025, with estimates ranging from 61 million to 66 million yuan, representing a year-on-year decrease of 49.32% to 45.16% [1][2]. Group 1: Financial Performance - The net profit attributable to shareholders is projected to be between 61 million and 66 million yuan, a decline of 49.32% to 45.16% compared to the same period last year [1]. - The net profit after deducting non-recurring gains and losses is expected to be between 53.91 million and 58.91 million yuan, reflecting a decrease of 53.77% to 49.48% year-on-year [1]. Group 2: Market Expansion - During the reporting period, the company has made significant strides in expanding both domestic and international markets, with a contract signing amount that increased by 80.42% year-on-year in Q3 2025, including a 48.31% increase domestically and a 114.30% increase internationally [2]. - For the first three quarters of 2025, the total contract signing amount rose by 32.21% year-on-year, with domestic growth of 11.72% and international growth of 51.44% [2]. Group 3: Financial Impact Factors - The company experienced a foreign exchange loss of approximately 7.96 million yuan during the reporting period, compared to a loss of 619,000 yuan in the same period last year [2]. - The company has continued to invest heavily in global production base construction, resulting in fixed asset depreciation of 71.71 million yuan, an increase of 14.73 million yuan compared to the previous year [2]. - The company recognized revenue from EPC projects amounting to 200.38 million yuan in the first three quarters of 2024, while there was no such revenue recognized in the same period last year, contributing to the significant decline in net profit [2]. - Non-recurring gains and losses are expected to impact net profit by approximately 7.09 million yuan [2].