Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified for the next six months [1]. Core Insights - The company is entering a realization phase of its intelligent transformation, driven by technical collaboration and accelerated scene implementation [1]. - The company has established a strong partnership with Huawei, launching AI industrial robots for mining, which enhances customer engagement and generates sustainable aftermarket revenue [7]. - The company has a robust order backlog, with over 60% of orders from overseas markets, supporting future revenue growth [7]. Financial Summary - Revenue is projected to grow from 1,053.46 million yuan in 2023 to 2,644.81 million yuan in 2026, reflecting a compound annual growth rate (CAGR) of 35.59% [2][8]. - Net profit attributable to the parent company is expected to increase from 102.29 million yuan in 2023 to 386.38 million yuan in 2026, with a CAGR of 55.7% [2][8]. - Earnings per share (EPS) is forecasted to rise from 0.61 yuan in 2023 to 2.32 yuan in 2026 [2][8]. - The return on equity (ROE) is anticipated to improve from 4.91% in 2023 to 15.19% in 2026 [2][8]. Business Developments - The company has signed a 208 million yuan contract for a smart mining project with Western Cement, marking its first collaboration with Huawei [7]. - The deployment of the DeepSeek model has strengthened the company's competitive edge in the smart mining sector, enhancing order acceleration for smart mining solutions [7]. - The company has successfully won several international contracts, including a 1.28 billion yuan project with Baowu Group and a 639.8 million USD logistics project with China Harbour Engineering [7].
运机集团：技术协同+场景落地加速，智能化转型进入兑现期-20250224