Core Insights - The company is focusing on transforming from an "equipment supplier" to an "operational service provider" in the precious metals mining sector, aiming for long-term high-value operational business [3] - The South American market is a key area for overseas expansion due to its rich mineral resources and compatibility with the company's technology [4] - The current order structure is dominated by black metals, with a diversified development in non-ferrous metals, particularly copper [5] Group 1: Business Strategy - The company aims to lock in long-term operational revenue by signing long-term maintenance contracts through equity participation in mining projects, with operational costs accounting for 80% of the total lifecycle cost of mining equipment [3] - The company is implementing an "investment + EPC + O" model, starting with the Brownhill gold mine project, to accumulate experience for replication in larger projects [3] Group 2: Market Expansion - The company plans to establish overseas warehouses in South America, focusing on high-value minerals such as gold, copper, and lithium, with copper being particularly prominent in the non-ferrous metal sector [4] - The overseas warehouse will typically cover an area of 10 to 20 acres and will include basic water, electricity, and logistics functions [4] Group 3: Order Structure - The order structure is characterized by a dominance of black metals, particularly iron ore, which has the highest order share due to economies of scale [5] - The company emphasizes the need to optimize the order structure to increase the proportion of high-value mineral types [5] Group 4: Competitive Advantage - The company is establishing a differentiated advantage in overseas markets through "nanny-style" services and localized technical support, which are rare among domestic companies [6] - The implementation of a smart maintenance system using 5G and IoT technology allows for predictive maintenance, enhancing equipment utilization and reducing unplanned downtime [6] Group 5: Profitability - The company's gross margin is improving due to changes in business structure, with a higher revenue share from the more profitable metal mining business compared to sand and gravel [7] - The share of after-market services, including maintenance and parts, is continuously increasing, contributing to the overall improvement in gross margin [7]

南昌矿机集团股份有限公司投资者关系活动记录表 答：公司在金属矿山领域的订单结构呈现以黑色金属为主导、有色金属多元 发展的格局。从矿种构成来看，铁矿是目前在手订单中占比最高的核心业务，主 要得益于其大规模开采带来的显著规模效应，因此在产值贡献上居于首位。与此 同时，公司在有色金属领域持续拓展，订单覆盖了金矿、铜矿、锂矿等多个高价 值矿种，其中铜矿在有色金属板块中产量与订单规模相对突出。 4. 请问公司与中大型矿山客户的合作模式及推进方式？ 答：矿山业主在装备领域的投资占项目总投资比例较小，更侧重于矿山资源 与开采环节的投资。在合作方式上，公司需参与其招标流程。目前国产设备进入 其体系仍面临低价竞争挑战，但公司强调以技术服务与持续维保为核心，构建差 异化竞争优势。 5. 海外仓建设与智能维保系统如何支撑海外业务？ 答：海外仓以租赁或购置为主，面积通常在十几至二十亩，具备基础水电与 物流配送功能。公司核心竞争力在于后端的智能维保系统。公司通过 5G+物联网 技术，实时回传设备运行参数，实现预测性维护，极大提升设备稼动率，减少非 计划停机。该系统已在多个项目中应用，获得客户高度认可。 证券代码：001360 证券简称 ...

证券日报网讯尤洛卡（300099）11月19日在互动平台回答投资者提问时表示，2023年，公司将发展方向 聚焦于智慧矿山领域。"尤洛卡"作为在该领域具备较高市场知名度和品牌认可度的名称，能够更准确地 建立公司证券简称与核心业务之间的关联，也能更清晰地传递出公司的经营重心与产业布局，有助于资 本市场和投资者形成更准确的认知，从而进一步提升公司品牌形象与价值。相比之下，"精准信息"已难 以精确涵盖公司当前的战略方向与业务内容。 ...

而作为"零碳矿山机器人第一股"得博雷顿，从一开始就坚持实用主义。即将发布的这款矿卡不是改造而 来的车型，而是从一开始就为无人驾驶而生。整车从架构、线控到底层算法，全部为智能驾驶服务。零 碳矿山机器人不是简单去掉驾驶室的车，而是专属于无人驾驶的机器人。 取消驾驶室的设计代表了博雷顿对"无人化"的彻底理解，让车辆拥有更强的感知能力、更好的通过性能 和更高安全性。博雷顿以实用主义为导向，用"能用、好用、耐用"的标准定义矿山无人化的现实路径。 此前，无人驾驶常被视为"辅助"或"尝试"；而随着博雷顿新车发布，无人驾驶将成为真正意义上的效率 革命者。博雷顿自研E2E智驾系统，通过多维感知、路径规划与基于多模态智慧矿山大模型，使无人驾 驶车辆实现效率与安全双超越。 据博雷顿官方消息，11月21日，"零碳矿山机器人第一股"博雷顿打造的无人驾驶专用矿卡将全球首发。 本次博雷顿打造的无人驾驶专用电动矿卡，不仅是一台车，更是一种全新的理念与技术体系。它以"智 控、安全、高效"为核心理念，从零开始为无人驾驶而生，标志着矿山智能化迈入"真无人"时代。让零 碳矿山机器人实现了"无人驾驶"。 实际上无人驾驶并不罕见，那么博雷顿本次的无人驾 ...

天眼查App显示，近日，长沙象飞田矿山设备有限公司成立，法定代表人为邹联辉，注册资本10万人民 币，经营范围为一般项目：机械设备销售;矿山机械销售;机械零件、零部件销售;机械电气设备销售;电 气设备销售;配电开关控制设备销售;智能输配电及控制设备销售;电子元器件零售;电力电子元器件销售; 汽车零配件零售;日用家电零售;铁路运输设备销售;电子产品销售;化工产品销售（不含许可类化工产 品）;润滑油销售;家用电器销售;家用电器零配件销售;金属制品销售;金属链条及其他金属制品销售;家具 零配件销售;移动通信设备销售;五金产品批发;金属工具销售;建筑用金属配件销售;五金产品零售;劳动保 护用品销售;建筑材料销售;金属材料销售;机械设备租赁;国内货物运输代理;国内集装箱货物运输代理;货 物进出口;技术进出口;进出口代理;销售代理（除依法须经批准的项目外，自主开展法律法规未禁止、未 限制的经营活动）。 ...

Core Viewpoint - Lingong Heavy Machinery Co., Ltd. has submitted its prospectus to the Hong Kong Stock Exchange for a main board listing, marking its second attempt to enter the capital market after withdrawing its A-share listing application in early 2024 [1][5]. Company Overview - Established in 2012, Lingong Heavy Machinery operates in multiple sectors, focusing on mining equipment and aerial work machinery, which are both high-margin business segments. Its mining equipment sales cover regions including China and Southeast Asia, while its aerial work machinery is sold in Europe and North America [3]. - According to a Frost & Sullivan report, Lingong Heavy Machinery ranks third among domestic companies in the global mining transportation equipment and excavator market by revenue in 2024. It holds the first position globally in the non-road wide-body dump truck sector and ranks fifth in the global aerial work equipment market among domestic companies, as well as third in the Asia-Pacific region [3]. Financial Performance - The company's revenue for the years 2022 to 2024 is projected to be 10.529 billion yuan, 9.897 billion yuan, and 12.028 billion yuan, respectively. Net profits for the same years are expected to be 0.954 billion yuan, 0.974 billion yuan, and 1.000 billion yuan [5]. - In the first half of 2025, despite revenue of 5.531 billion yuan, the net profit reached 0.635 billion yuan, indicating a trend of profit growth without a corresponding increase in revenue [5]. Fundraising and Investment Focus - The company plans to use the funds raised from the IPO primarily for research and development innovation and capacity upgrades, with a focus on enhancing the competitiveness of core products such as autonomous mining equipment and electric aerial work platforms [7].

Core Viewpoint - The underground loader industry is experiencing steady growth driven by the rigid demand for mineral resources and advancements in automation and technology [3][11]. Market Demand - The demand for underground loaders is increasing due to the rigid demand for mineral resources such as copper, gold, lithium, and nickel [3]. - The automation level in domestic metal and non-metal mining is improving, leading to equipment upgrades [3]. - Diesel power remains the mainstream power system, but electric options are expected to rise in the future [3]. - Remote control and automation technologies are becoming more prevalent, enhancing safety and efficiency [3]. - The product structure includes small machines (1-3 tons) for narrow tunnels and stable demand, and medium machines (3.1-5 tons) widely used in both metal and non-metal mining [3]. Industry Development Trends - Domestic manufacturers are gradually closing the gap with international counterparts [4]. - Demand for underground loaders is increasing in non-metal mining sectors such as salt and gypsum [4]. - The future direction includes smart and unmanned operations, with remote control and automated navigation improving safety, especially in hazardous environments [4]. Global Market Analysis - The global underground loader market sales reached $51.53 million in 2024 and is projected to reach $69.68 million by 2031, with a CAGR of 4.01% from 2025 to 2031 [6]. - Major manufacturers like XCMG, Liugong, and Epiroc hold about 49% of the international market share [8]. - The 1-3 ton category is significant, expected to account for 75.80% of the market share by 2031, with metal mining holding approximately 83.66% of the market share in 2024 and a CAGR of 6.43% [9]. Industry Opportunities and Drivers - The replacement demand and the need for upgrading old equipment are driving the procurement of new underground loaders [13]. - There is potential for market expansion in developing regions like South America, Africa, and Southeast Asia, where Chinese manufacturers can leverage cost advantages and localized service capabilities [14]. - The push for smart mining is promoting the adoption of remote control and automated systems, which can reduce human exposure to risks and enhance production efficiency [14]. Policy and Safety Standards - The government is accelerating the construction of smart mines and promoting the use of intelligent equipment to replace hazardous manual operations, positively impacting the demand for automated underground equipment [17][18]. - Stricter safety and environmental standards are guiding the procurement of low-emission or electric equipment to reduce ventilation and safety costs [17][18].

Core Viewpoint - The company has demonstrated strong revenue growth and profitability in Q3 2025, driven by increased orders and innovative product development, positioning itself for future expansion in both domestic and international markets [1][2][5]. Financial Performance - In Q3 2025, the company achieved revenue of 301 million yuan, a year-on-year increase of 2.18% - The net profit attributable to shareholders was 46 million yuan, reflecting a year-on-year growth of 26.31% - The net profit excluding non-recurring items was 43 million yuan, with a year-on-year increase of 27.56% [1]. Order Growth and Market Expansion - Total contract value signed in the first three quarters of 2025 increased by 32.21%, with domestic growth of 11.72% and international growth of 51.44% - In Q3 alone, contract signing increased by 80.42%, with domestic growth of 48.31% and international growth of 114.30% - The company’s global expansion strategy is yielding results, particularly in Latin America and Africa, where growth rates have exceeded 50% [2]. Product Innovation - The company has developed a pioneering forged composite liner, which significantly enhances hardness, wear resistance, impact resistance, and corrosion resistance compared to traditional cast chromium-molybdenum steel - Initial trials of the forged composite liner have shown a 10% increase in equipment performance, a 20%-30% reduction in overall weight, and a 7%-12% decrease in energy consumption [3]. Strategic Investment - The company acquired a 22.5% stake in Veritas Resources AG to participate in the development of the Alacran copper-gold-silver mine in Colombia, which has estimated copper reserves of approximately 402,900 tons and gold reserves of 23.5 tons - The total estimated value of the mine's reserves is around 50 billion yuan, with construction expected to begin after environmental approval in 2025 [4]. Earnings Forecast - Revenue projections for 2025, 2026, and 2027 are 1.153 billion yuan, 1.444 billion yuan, and 1.759 billion yuan, respectively - Earnings per share (EPS) are forecasted to be 0.71 yuan, 0.96 yuan, and 1.25 yuan for the same years, with corresponding price-to-earnings (PE) ratios of 43.3, 32.3, and 24.7 - The company is expected to maintain steady growth in its core business while strategically extending into upstream copper resources, creating a second growth curve [5].

Core Viewpoint - Lingong Heavy Machinery Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, aiming to leverage its position as a leading global provider of mining and aerial work equipment through innovation and technology [1][3]. Group 1: Company Overview - Lingong Heavy Machinery is recognized as the first domestic manufacturer to develop electric-controlled mining excavators, known for their high reliability and stability [3]. - The company has achieved cumulative shipments of nearly 600 mining excavators as of June 30, 2025 [3]. - Lingong Heavy Machinery also offers auxiliary mining machinery, such as water trucks, providing comprehensive solutions for efficient and high-quality mining operations [3]. Group 2: Market Position and Innovations - The company has proactively introduced new energy and unmanned mining equipment to align with trends in electrification and automation, characterized by high reliability, high availability, and low operating costs [3]. - As of June 30, 2025, approximately 1,600 units of new energy mining transport equipment have been sold [3]. - According to Frost & Sullivan, Lingong Heavy Machinery ranks first among domestic companies in the global new energy mining transport equipment sector based on projected revenue for 2024 [3]. Group 3: Global Reach - As of November 1, 2025, Lingong Heavy Machinery's sales network has expanded to over 100 countries and regions worldwide, holding significant market positions in Asia, Europe, Africa, and the Americas [3].

Core Insights - Lingong Heavy Machinery Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CICC and Everbright Securities as joint sponsors [2] - The company is a leading global provider of mining and aerial work equipment, focusing on innovative and sustainable solutions [2] - Lingong Heavy Machinery ranks third among domestic companies in the global mining transportation equipment and excavator market based on projected 2024 revenue [2] Company Overview - Lingong Heavy Machinery is recognized as the first domestic manufacturer to develop electric-controlled mining excavators, known for high reliability and stability [2] - As of November 1, 2025, the company's sales network has reached over 100 countries and regions globally, holding significant market positions in Asia, Europe, Africa, and the Americas [2] Market Position - According to Frost & Sullivan, Lingong Heavy Machinery ranks first in the global non-road wide-body dump truck sector and first among domestic companies in the global new energy mining transportation equipment market based on 2024 revenue [2] - The company is also positioned fifth in the global aerial work equipment market and third in the Asia-Pacific aerial work equipment market based on projected 2024 revenue [2] - In the global autonomous mining transportation equipment market, Lingong Heavy Machinery ranks fourth among domestic companies based on 2024 revenue [2] Financial Performance - For the fiscal years 2022 to 2024 and the first half of 2025, Lingong Heavy Machinery reported revenues of CNY 10.53 billion, CNY 9.90 billion, CNY 12.03 billion, and CNY 5.53 billion respectively [5] - The company's profits for the same periods were approximately CNY 954 million, CNY 974 million, CNY 1 billion, and CNY 635 million respectively [5] - In the first half of 2025, the company experienced a 14.23% decline in revenue year-on-year, while profits increased by 21.6% [6] Ownership Structure - Prior to the IPO, Wang Zhizhong held approximately 55.50% of the company's shares through Lingong Group, controlling about 34.61% directly and approximately 60.26% indirectly through four holding platforms [6]