Group 1: Research Basic Information - The research object is Hetai Electromechanical, and the research date is August 27, 2025. The listed company's reception staff includes the board secretary Fang Qing and Xu Ruoran from the secretary's office [17] Group 2: Detailed Research Institutions - The reception object is China Merchants Securities, a securities company, and the relevant personnel are Zhu Yiqing and Fang Jiamin [20] Group 3: Main Content Company's Business Performance - In the first half of 2025, the company actively expanded the market, and the orders increased year - on - year. The sales orders in the first quarter increased by more than 30% year - on - year. The overall operating income in the first half of the year was 12,351.68 million yuan, a year - on - year increase of 0.44% [24] Reasons for Gross Margin Decline - Due to intensified market competition in the material handling equipment industry and increased depreciation of factories and equipment after the commissioning of Hetai Chain Transport Intelligent Factory, the company's gross margin in the first half of 2025 decreased year - on - year [24] Industry Development Prospects - Against the background of supply - side reform and green development, material handling equipment plays an important role in the industry transformation and upgrading. In overseas markets, the accelerating industrialization process in developing countries and emerging economies drives the market demand for material handling equipment [24] Product Application Fields - The company's environmentally friendly and efficient conveying equipment can be widely used in industries such as cement building materials, ports, steel, chemical, coal, and electricity [26] Overseas Business - The company's overseas business sales models include indirect export through domestic general contractors and direct self - operated export. With the increasing infrastructure demand in overseas developing countries and the accelerated overseas expansion of domestic cement leading enterprises, the company is actively exploring overseas sales [27] Future Development Strategy - The company implements a "real - estate + capital" dual - engine development strategy. In terms of real - estate development, it focuses on the main business of material handling equipment, promotes intelligent production transformation, and expands the global market. In terms of capital strategy, it will use capital market tools such as mergers and acquisitions and equity incentives as needed [27]

Group 1: Company Performance - In the first half of 2025, the company achieved a revenue of 123.52 million yuan, representing a year-on-year growth of 0.44% [2] - The sales orders in the first quarter increased by over 30% year-on-year [2] - The gross profit margin decreased due to intensified market competition and increased depreciation costs from the new intelligent factory [2] Group 2: Market Strategy - The company aims to enhance product technology through continuous R&D investment, product innovation, and process improvements [3] - It plans to reduce costs and improve efficiency through scientific production scheduling and order management [3] - The company will deepen its diversification strategy and expand into overseas markets while solidifying its position in the domestic market [4] Group 3: Product Applications - The company's products, including environmentally friendly and efficient bucket elevators, are applicable in various industries such as cement, ports, steel, chemicals, coal, and power [5] - The company intends to expand its market beyond the cement industry as production capacity increases [5] Group 4: International Business - The company utilizes two main sales models for overseas business: indirect exports through domestic contractors and direct exports [6] - It is actively seizing opportunities in overseas markets due to increasing infrastructure demands in developing countries [6] Group 5: Future Development Strategy - The company aims to become a world-class manufacturer of material handling equipment, implementing a dual-engine development strategy of "industry + capital" [7] - It will focus on intelligent production transformation and global market expansion while leveraging capital market tools for high-quality development [7]