智能矿山国产替代标杆企业进军科创板，东方测控A股IPO获受理

Core Viewpoint - Dongfang Measurement and Control Technology Co., Ltd. (referred to as "Dongfang Measurement") has submitted its prospectus for an IPO on the Sci-Tech Innovation Board, aiming to raise 1.1 billion yuan to enhance its production, research, and sales capabilities in the intelligent mining sector [1][4]. Company Overview - Established in 1995, Dongfang Measurement is a high-tech enterprise providing intelligent online detection and analysis equipment, control systems, and related services for various industries, including non-ferrous and black metal mining, coal, cement, metallurgy, wind power, and petrochemicals [1]. - The company has established solid partnerships with over 100 state-owned enterprises and large private companies, with products exported to more than 30 countries [1]. Technological Achievements - Dongfang Measurement has participated in multiple national projects and standard-setting initiatives, including 16 national-level projects and the formulation of 8 national and industry standards [2]. - The company is recognized as a national enterprise technology center and has successfully developed key technologies in the intelligent mining sector, being the only domestic company to master neutron activation online detection technology and achieve large-scale industrialization [2]. Financial Performance - From 2022 to the first half of 2025, the company reported revenues of 603 million yuan, 521 million yuan, 567 million yuan, and 211 million yuan, with net profits of 92.58 million yuan, 74.78 million yuan, 73.08 million yuan, and 4.30 million yuan, indicating stable operational performance [3]. - The fluctuation in the first half of 2025 is attributed to the seasonal nature of revenue recognition in the industry, which is concentrated in the fourth quarter [3]. Market Environment - The IPO coincides with a policy window for the rapid development of the intelligent mining industry, which is crucial for ensuring national energy resource security [4]. - Recent policies from the National Development and Reform Commission and the Ministry of Industry and Information Technology encourage the development of intelligent detection equipment and outline goals for the digital transformation of the raw materials industry [4]. Market Potential - The intelligent mining industry is entering a high-growth phase, with the market expected to exceed 2.4 trillion yuan by 2030, reflecting an annual compound growth rate of over 15% [5]. - The rapid market expansion provides ample opportunities for Dongfang Measurement to broaden its business scope and supports the digestion of new production capacity from its fundraising projects [5].