Qian Zhan Wang·2026-01-19 07:08Core Insights - The coal mining machinery industry in China is characterized by a diverse range of listed companies involved in various segments of the industry chain, including raw materials, manufacturing, and application in coal and related sectors [1][2][4]. Industry Overview - The coal mining machinery industry includes upstream raw materials and components, midstream manufacturing of coal mining equipment such as tunneling machines and hydraulic supports, and downstream applications primarily in the coal industry, which further serves sectors like thermal power, steel, chemicals, and construction [1]. Listed Companies Summary - Key listed companies in the coal mining machinery sector include: - Tiandi Technology (天地科技): A leader in the coal equipment industry with a focus on research and manufacturing [3]. - Zhongchuang Zhiling (中创智领): A global giant in comprehensive coal mining equipment with a leading market share in hydraulic supports [3]. - SANY International (三一国际): A supplier of mining and logistics equipment with rapid growth in overseas markets [3]. - Linzhou Heavy Machinery (林州重机): An energy equipment service provider specializing in coal mining machinery and military equipment [3]. Revenue and Business Layout - The revenue for major companies in the coal mining machinery sector for 2024 includes: - Tiandi Technology: 30.53 billion CNY [6]. - Zhongchuang Zhiling: 37.05 billion CNY [6]. - SANY International: 21.91 billion CNY [6]. - Linzhou Heavy Machinery: 1.68 billion CNY [6]. - Companies exhibit varying degrees of focus on coal mining machinery, with SANY International and Chuangli Group having over 85% of their revenue from this sector, while Tiandi Technology and Zhongchuang Zhiling derive about 51% of their revenue from coal machinery, indicating a more diversified business layout [8][10]. Market Distribution - SANY International has a significant international sales ratio of 67.16%, while Zhongchuang Zhiling has 32.41% from overseas markets, contrasting with other companies that primarily focus on domestic markets with over 92% of their sales [8][10]. Business Performance - The coal mining machinery industry shows strong market demand, with most companies reporting a sales-to-production ratio exceeding 90%, indicating a healthy match between supply and demand [11]. - Notable performance metrics include: - Tiandi Technology: Revenue of 13.87 billion CNY with a gross margin of 30.54% [12]. - Zhongchuang Zhiling: Revenue of 19.00 billion CNY with a gross margin of 23.99% [12]. - SANY International: Revenue of 21.14 billion CNY with a gross margin of 22.43% [12]. Future Development Plans - Companies are focusing on smart mining solutions and green technologies, with plans to enhance their product offerings and expand into international markets. Key initiatives include: - Tiandi Technology: Emphasizing the development of intelligent mining systems and AI applications [14]. - Zhongchuang Zhiling: Enhancing smart mining control systems and expanding global market share [14]. - SANY International: Focusing on the deployment of unmanned mining vehicles and upgrading intelligent excavation equipment [14].