Summary of Smart Sand Inc. Presentation at Lithium Partners Fall 2025 Investor Conference Company Overview - Smart Sand Inc. is a leading provider of Northern White sand in North America, primarily serving the oil and gas market and industrial applications [2][3] - The company has a mining and processing capacity of 10 million tons of high-quality Northern White sand with access to all Class 1 rail lines, enabling efficient shipping to various operating basins in the U.S. [2][3] Key Strengths - **Low-Cost Operating Structure**: Smart Sand operates with a bulk commodity mindset, focusing on efficiency in large quantities, resulting in low processing costs and logistics costs [3][4] - **Logistics Advantage**: The company has invested in high-quality mines and terminals, allowing efficient sand shipment across North America [4][5] - **Natural Gas Demand**: 70% of Smart Sand's sales are directed towards natural gas basins, positioning the company to benefit from the projected growth in natural gas demand due to LNG export capacity and power generation for AI data centers [5][16] Financial Performance - The company sold approximately 2.5 million tons in the first half of the year and expects similar sales in the second half [12] - Smart Sand has maintained a prudent capital structure with low debt levels, allowing it to navigate industry cycles effectively [8][9] Market Dynamics - The demand for natural gas is projected to increase significantly, with LNG capacity expected to double from 15 BCF per day to nearly 30 BCF per day by the end of the decade [16][17] - The company is also expanding its industrial applications segment, which has grown over 80% year-over-year, aiming to increase its contribution to sales from 5% to 10% or more [5][36] Product Offering - Smart Sand produces various sand products for fracking, with a focus on fine mesh sand, which constitutes over 70% of its reserves [6][7] - The company has a long-lived reserve base of over 500 million tons, with a reserve life exceeding 30 years [7] Strategic Initiatives - Smart Sand is focused on expanding its market share in key regions, including the Appalachian basins and the Bakken, while also exploring opportunities in Canada [12][13][28] - The company has invested in terminals to enhance its logistics capabilities, which account for roughly two-thirds of its costs [29][34] Management and Shareholder Alignment - The management team, including founder Chuck Young, holds over 36% of the company, aligning their interests with those of shareholders [9][39] - Smart Sand has returned nearly $20 million to shareholders through buybacks and dividends over the past three years [10] Conclusion - Smart Sand Inc. is well-positioned to capitalize on the growing demand for natural gas and industrial applications, supported by its efficient operations, strong logistics capabilities, and prudent financial management [39][40]

Group 1 - The company, Hailong Holdings (01623.HK), expects to report a net loss of approximately RMB 310 million to RMB 340 million for the six months ending June 30, 2025, compared to a profit of approximately RMB 46.6 million in the same period last year [1] - The shift from profit to loss is primarily attributed to the remeasurement of a vessel classified as held for sale, which incurred losses [1] - Despite the aforementioned losses, the company's business operations remain stable and have not been significantly impacted [1]

Core Viewpoint - Hailong Holdings (01623.HK) has announced a board meeting scheduled for August 29, 2025, to consider and approve the group's interim results for the six months ending June 30, 2025 [1] Summary by Relevant Sections - **Company Announcement** - The board meeting will focus on the approval of the interim financial results for the first half of the fiscal year 2025 [1]

Financial Data and Key Metrics Changes - The company reported a 16% year-over-year revenue growth and an 8% increase compared to the fourth quarter of 2024 [6][12] - Adjusted EBITDA grew nearly 18% year-over-year and remained flat sequentially [7] - Total consolidated revenue for the first quarter was $42.9 million, with tool rental revenue of approximately $34.5 million and product sales revenue of $8.3 million [12] - Adjusted free cash flow for the first quarter was $5.7 million, with net debt of $52.1 million [12][13] - The company recorded a noncash goodwill impairment of approximately $1.9 million, which does not affect day-to-day operations or liquidity [13] Business Line Data and Key Metrics Changes - The Western Hemisphere segment, which includes directional tool rentals and wellbore optimization tools, remained steady [14] - The Eastern Hemisphere segment, which includes deep casing tools and European drilling projects, showed some volatility, but tool rental revenue increased significantly compared to Q1 of 2024 [15] - The decline in product sales was primarily attributed to deep casing tools, which are expected to see increased demand in 2025 as customer-owned inventory depletes [15] Market Data and Key Metrics Changes - Despite a 6% global rig count decline, the company managed to increase revenue, validating its M&A strategy to strengthen its business model [12] - The Eastern Hemisphere accounted for 11% of total revenue in Q1, with expectations for growth as the year progresses [16] Company Strategy and Development Direction - The company is executing a two-phase strategy to manage potential disruptions in order flow due to market volatility [7] - A share buyback authorization of up to $10 million has been approved, reflecting confidence in the stock's value [11] - The company is focused on cost reduction measures, anticipating $6 million in annual savings [18] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about increased volatility and uncertainty in the marketplace due to tariffs and potential recession impacts [7] - The company has adjusted its 2025 revenue guidance to a range of $145 million to $165 million, with adjusted EBITDA expected between $32 million and $42 million [19] - Management remains optimistic about the demand for complex wellbore solutions and believes that their differentiated technology will provide value to clients [22] Other Important Information - The company is maintaining its planned capital expenditures to support growth in its RotoShear product line and international expansion [16] - Maintenance capital expenditures were approximately 10% of total revenue, reflecting a trend of lower investment due to declining rig counts [17] Q&A Session Summary Question: How is the company maintaining free cash flow in a challenging environment? - Management highlighted cost reductions and strategic CapEx management to preserve EBITDA margins [26][29] Question: What is the outlook for the Eastern Hemisphere, particularly in Saudi Arabia? - Management noted flat conditions in the Middle East but mentioned that they are gaining traction in other areas despite rig count softness [30][32] Question: How does the company view the North American market for the back half of the year? - Management anticipates some softness in the U.S. market but noted that Canadian operations may be more resilient [40][42] Question: Can you elaborate on the CapEx program and growth focus? - The focus will be on new technology and tools with growth potential, while sustaining the existing rental fleet [53]