2025 年 07 月 05 日 合同订单稳步推进，参股矿山值得期待 —耐普矿机（300818.SZ）公司事件点评报告 买入(维持) 事件 分析师：尤少炜 S1050525030002 yousw@cfsc.com.cn | 基本数据 | 2025-07-04 | | --- | --- | | 当前股价（元） | 21.56 | | 总市值（亿元） | 36 | | 总股本（百万股） | 169 | | 流通股本（百万股） | 109 | | 52 周价格范围（元） | 17.93-31.65 | | 日均成交额（百万元） | 71.58 | 市场表现 -30 -20 -10 0 10 20 30 40 (%) 耐普矿机 沪深300 资料来源：Wind，华鑫证券研究 相关研究 1、《耐普矿机（300818）：全球化 驱动营收增长，回购+分红提升投资 者回报》2025-04-12 耐普矿机于 2025 年 6 月 30 日发布签订日常经营重大合同公 告：合同金额合计 1,885.25 万美元（不含税，折合人民币 约 13,517.23 万元）。耐普矿机于 2025 年与哈萨克斯坦某 矿业公司共签订两份 5 年 ...

智通财经7月4日电，从中国煤炭科工集团太原研究院获悉，日前，该院自主研发的全球首批130吨超重 型综采成套搬家装备正式下线。该套装备突破特厚煤层综采设备安全高效搬运的技术瓶颈，标志着我国 矿山重型装备技术取得重大突破。据介绍，该套装备采用铰接式柔性车身结构，由绿色清洁型纯电动铲 板式搬运车和续航无忧型防爆柴油机支架搬运车组成，兼具井下定点作业零排放与远距离运输长续航的 双重优势，攻克了10米及以上超大采高综采工作面设备"点对点"无拆解快速搬运的技术难题。 全球首批130吨超重型综采成套搬家装备正式下线 ...

Group 1: Advanced Manufacturing in Shandong - Shandong provincial enterprises are leading the advanced manufacturing sector, focusing on digital transformation and building manufacturing clusters [1] - Weifang, known as China's "Agricultural Machinery City," hosts major agricultural machinery companies, with Shandong Heavy Industry's Weichai Lovol as a key player [1] - The Weifang-Linyi-Rizhao intelligent agricultural machinery cluster generated a production value of 165 billion yuan in 2023, accounting for one-quarter of the national agricultural machinery industry [1] Group 2: Coal and Gold Mining Industry - Shandong Energy and Shandong Gold are collaborating with Huawei to implement industrial internet technologies, transforming traditional mining into smart mining [2] - The partnership has led to the development of a new generation of industrial production networks, enhancing operational efficiency and security in mining [2] - The "slice network" technology allows for differentiated data traffic management, improving the overall performance of mining operations [2] Group 3: Production and Operation Software - The production and operation software, represented by MES/MOM, is crucial for advancing smart manufacturing in Shandong [3] - Inspur Group has integrated various technologies to create a comprehensive smart management system for manufacturing processes [3] - According to IDC, Inspur's digital enterprise ranks first among domestic vendors in the production and operation software market, highlighting its leading position [3]

Core Insights - The article highlights the successful ecological restoration of abandoned mines in Lianyungang City, transforming 1,072 acres of previously damaged land into vibrant green spaces, achieving a balance of economic, ecological, and social benefits [1][2]. Group 1: Ecological Restoration Efforts - The Lianyungang Natural Resources and Planning Bureau implemented a tailored restoration strategy for each mine, focusing on disaster elimination, slope greening, tree selection, and maintenance standards [1]. - A comprehensive management system was established, involving professional design, departmental review, state-owned enterprise implementation, and local support, ensuring effective supervision throughout the restoration process [1][2]. Group 2: Innovative Techniques and Local Adaptation - The bureau explored new techniques for steep rocky slopes, including embedding reinforced mats into rock seams and using high-pressure spraying for vegetation, which effectively addressed the challenges posed by the area's natural conditions [2]. - Local tree species such as Wisteria, Platycladus orientalis, and Broussonetia papyrifera were selected to enhance soil retention and water conservation, with a total of 50,000 seedlings planted to create diverse plant communities [2]. Group 3: Sustainable Management and Community Involvement - A three-tiered management system was developed for long-term maintenance, involving construction units for a two-year care period, local street teams for professional management, and community participation through an "ecological points" system [2]. - The restored areas have become popular recreational spots for residents, facilitating the development of green industries such as "mining + cultural tourism" and "mining + health care" [2].

Group 1 - The core viewpoint highlights that Shanghe County has achieved significant growth in R&D investment, leading the city and demonstrating a commitment to high-quality development through technological innovation [1][3] - The county has transitioned from a primarily agricultural economy to an industrial one, overcoming challenges in technological innovation by securing over 60 million yuan in various technology project funds within two years [3][6] - Collaborative efforts between government, educational institutions, and enterprises have resulted in successful projects, including national and provincial key projects that received substantial funding [3][4] Group 2 - The establishment of partnerships with nine universities and research institutes has led to a technology transaction value of 338 million yuan, fostering the development and transformation of significant technological achievements [4][5] - Specific projects, such as the "New Year Flower Quality Improvement" initiative, aim to enhance local industries, create jobs, and increase enterprise output by over 20 million yuan [5][6] - The number of high-tech enterprises in Shanghe has reached a record of 127, with high-tech industry output accounting for 57.15% of the county's industrial output by the end of 2024, reflecting a significant increase [6]

Core Viewpoint - The government report emphasizes the continuous promotion of the "Artificial Intelligence +" initiative, aiming to better integrate digital technology with manufacturing and market advantages, and supports the widespread application of large models [1] Group 1: AI Integration in Coal Industry - Yunding Technology focuses on technological innovation as the primary driver for high-quality development, implementing the "Artificial Intelligence +" initiative to enhance intelligent mining construction [1] - In 2022, Shandong Energy Group, Yunding Technology, and Huawei established a joint innovation center to develop an industrial large model with capabilities in vision, prediction, NLP, and multimodal processing, achieving a 9% increase in accuracy and a 15% increase in recall rate [1] - The development has led to 126 typical application scenarios across various industries, resulting in 52 patents, 38 software copyrights, and 15 papers, with the AI model recognized as internationally leading by the China National Coal Association [1] Group 2: Safety and Efficiency Improvements - Utilizing large model visual capabilities, Shandong Energy Group has implemented intelligent monitoring in key processes, significantly reducing accident rates and enhancing safety production efficiency [2] - The transition from passive human monitoring to proactive AI governance has been achieved through real-time monitoring of unsafe behaviors and equipment defects, optimizing daily inspections and reducing labor intensity [2] - In the Xingshan Coal Mine, the deployment of over 10 intelligent monitoring scenarios has reduced the need for on-site personnel by more than 18 per shift, marking a shift from human oversight to technical defense [2] Group 3: Cost Reduction and Production Optimization - The large model's predictive capabilities have been applied in coal washing processes, allowing for real-time predictions of optimal process parameters, which reduces manual intervention and lowers production costs [3] - The implementation of a heavy medium density control model has improved the yield of clean coal by over 0.2%, resulting in an additional 8,000 tons of clean coal and an estimated revenue increase of approximately 4 million yuan [3] - In the methanol distillation process, the large model's predictive ability has reduced steam consumption by 2%, saving around 2 million yuan annually [3] Group 4: Enhanced Operational Efficiency - By integrating advanced NLP technologies and self-developed intelligent platforms, Yunding Technology has created core business applications that enhance operational efficiency by over 20% [4] - The establishment of a comprehensive AI team has led to the development of standardized solutions, with over 5000 AI application scenarios implemented across 73 organizations, yielding significant economic and social benefits [4] - The strategic approach of piloting applications in specific units and replicating successful models has facilitated the widespread adoption of AI technologies in the energy sector [4] Group 5: Future Development Directions - Yunding Technology aims to deepen its focus on the mining sector while expanding horizontally into chemical, power, oil and gas, and manufacturing industries, accelerating the application of AI in core production processes [6] - The company plans to enhance the intelligent management of business lines and regions by integrating scattered functional models, thereby improving the overall level of intelligence in the mining sector [6] - The initiative is expected to inject new momentum into the green and efficient development of the energy industry, empowering high-quality development in mining through new productive forces [6]

耐普矿机（300818）公告，公司近日与哈萨克斯坦共和国某矿业公司旗下两处矿山项目签订了5年期 《标准供货合同》，合同金额合计1885.25万美元，折合人民币约1.35亿元。该合同将对公司本年度及未 来四年的经营业绩产生积极影响，并对公司进一步开拓海外市场，落实公司战略发展目标产生积极影 响。 ...

耐普矿机(300818.SZ)公告称，近日与哈萨克斯坦共和国某矿业公司旗下两处矿山项目签订了《标准供 货合同》，合同金额合计1885.25万美元，折合人民币约1.35亿元。 ...

Core Insights - The first World Smart Mining Conference was held in Qingdao, Shandong, focusing on "Digital Transformation and Intelligent Development in Mining" to promote industry renewal and the application of AI technology in mining [1][2] - The China Coal Science and Technology Group showcased advanced technologies and innovations, including the "Solar Stone Mining Big Model," which provides efficient cognitive services for mining enterprises [1][2] - The conference highlighted the importance of collaboration among government, academia, and industry to drive innovation and address challenges in the mining sector [3] Group 1 - The conference aimed to establish an international platform for technological exchange and showcase the latest achievements in intelligent coal mine construction and safety governance [1] - The "Solar Stone Mining Big Model" serves as a crucial support for smart mining construction, integrating various products for intelligent mining, safety monitoring, equipment operation, and data management [1][2] - The "Ditu Series" provides precise decision-making outputs for complex underground engineering scenarios, focusing on structure, physical properties, stress, and decision-making [1] Group 2 - The intelligent wearable devices, such as the smart helmet for miners, offer real-time operational information and monitor work environments to reduce the risk of pneumoconiosis [2] - The exhibition attracted numerous visitors from government, academia, and enterprises, facilitating in-depth discussions on technology applications, product needs, and cooperation models [2] - Experts from the China Coal Science and Technology Group shared their research and practical experiences in various forums, contributing to the discourse on intelligent mining and drawing inspiration from international advancements [2] Group 3 - As the leading unit of the Mining Industry Promotion Group under the China Artificial Intelligence Industry Development Alliance, the China Coal Science and Technology Group aims to be a pioneer in new productive forces in the mining sector [3] - The company focuses on AI, intelligent equipment, new materials, and new energy, striving to achieve significant technological breakthroughs and create market value in emerging industries [3] - The initiative aligns with China's energy security strategy, emphasizing innovation and the industrial application of AI technology in mining [3]

金诚信 20250627 Q&A 2025 年全球铜供需结构预计将如何演变，哪些因素将对其产生影响？ 2025 年全球铜供需结构预计将维持偏紧张状态。主要影响因素包括：美联储 释放鸽派信号导致市场进入预防性降息交易，美元指数下跌，商品价格逆势上 涨；2025 年第一季度全球主要铜矿产量同比下滑近 1%；国内现货 TC 价格跌 破-10 美元并持续下跌至-40 美元以下，凸显矿端持续紧缺；以及近期卡莫尔 铜矿的减产。 公司远期铜产能有望超过 15 万吨，实现 2025 年产能基础上的翻倍增长。主 要增量项目包括：龙溪铜矿东区（二期）建成后年产能将达到 10 万吨；哥伦 比亚项目投产后平均年产量预计达到 2.5 万吨；以及完成技改的鲁班矿和稳定 生产的规划。 近两年公司矿服业务面临哪些挑战，未来两年预计将如何发展？ 摘要 全球铜矿供应趋紧，2025 年一季度主要铜矿产量下滑，现货 TC 价格跌 破-10 美元并持续下跌，卡莫尔铜矿减产，预示铜价上涨潜力。 公司铜产量快速增长，2024 年达 4.87 万吨，预计 2025 年受益于龙溪 铜矿一期达产和鲁班比并表，全年产量将增至 7.9 万吨，同比增长 62%。 公 ...