Core Viewpoint - Shandong Mining Machinery Group Co., Ltd. is preparing to issue A-shares to specific investors, with Lianchu Securities Co., Ltd. acting as the lead underwriter for this issuance [1][2]. Group 1: Basic Information about the Issuance - The underwriter for the issuance is Lianchu Securities Co., Ltd. [2] - The designated representatives for the underwriting are Nie Ronghua and Xu Guang, both of whom have extensive experience in similar projects [2][3]. - The issuance involves the company offering A-shares to specific investors, which is a common practice for raising capital [4]. Group 2: Company Overview - Shandong Mining Machinery Group was established on December 3, 1999, with a registered capital of 1,782.79 million yuan [4]. - The company is located in the Economic Development Zone of Changle County, Shandong Province, and is listed on the Shenzhen Stock Exchange under the stock code 002526 [4]. - The company specializes in manufacturing coal mining machinery and has diversified into related products and services [5]. Group 3: Financial Data - As of June 30, 2025, the total assets of Shandong Mining Machinery amounted to 518,205.88 million yuan, with total liabilities of 191,127.74 million yuan [6]. - The company reported a revenue of 104,635.35 million yuan for the first half of 2025, with a net profit attributable to shareholders of 9,846.04 million yuan [6][7]. - The company's financial ratios indicate a current ratio of 1.81 and a quick ratio of 1.24 as of the first half of 2025 [7]. Group 4: Compliance and Regulatory Aspects - The issuance has been approved by the company's board of directors and shareholders, complying with the legal requirements set forth in the Company Law and Securities Law [13][14]. - The issuance price is set at 1.85 yuan per share, which is above the par value, meeting regulatory standards [14][16]. - The company has confirmed that the issuance will not lead to a change in control and adheres to the regulations regarding the issuance to specific investors [16].

Company Overview - Shandong Mining Machinery Group Co., Ltd. was established on December 3, 1999, with a registered capital of 1,782.79 million yuan [1] - The company specializes in the manufacturing of coal mining machinery and has developed a series of products with a significant market share in China [2][3] - The company is listed on the Shenzhen Stock Exchange under the stock code 002526 [1] Financial Performance - As of June 2025, the total assets amounted to 518,205.88 million yuan, with total liabilities of 191,127.74 million yuan, resulting in total equity of 327,078.14 million yuan [2] - The company's revenue for the first half of 2025 was 104,635.35 million yuan, with a net profit attributable to shareholders of 9,846.04 million yuan [2][3] - The operating cash flow for the first half of 2025 was -7,517.60 million yuan, indicating fluctuations in cash flow management [3][10] Business Risks - The company faces risks related to market expansion, including intense competition from larger manufacturers in the coal machinery sector [6] - Fluctuations in raw material prices, particularly steel, can impact production costs and profit margins [6] - Environmental regulations may require increased investment in compliance, affecting operational costs [6] Industry Context - The coal machinery industry is cyclical and closely tied to macroeconomic conditions, with potential impacts from policies aimed at carbon neutrality [11] - The industry is experiencing a shift towards intelligent mining solutions, increasing competition among companies to innovate [11] - The company must adapt to changing market demands and technological advancements to maintain its competitive edge [11] Issuance Details - The company plans to issue A-shares to specific investors, with a total fundraising target of up to 300 million yuan, primarily to supplement working capital [12][16] - The issuance price is set at 1.85 yuan per share, which is 80% of the average trading price over the previous 20 trading days [13][24] - The shares will be subject to an 18-month lock-up period post-issuance [15]