博雷顿（01333）盘中涨超17%，截至发稿，股价上涨6.98%，报21.16港元，成交额9344.50万港元。 博雷顿（01333）盘中涨超17%，截至发稿，股价上涨6.98%，报21.16港元，成交额9344.50万港元。 博雷顿主席及控股股东陈方明近期频繁增持股份。据公告，1月20日，陈方明增持博雷顿20.3万股，价 值约452.98万港元；1月22日，陈方明增持博雷顿5.5万股H股股份，价值约111.76万港元；1月28日，陈 方明增持博雷顿1.8万股。 盈立证券认为，博雷顿在当前阶段呈现出具吸引力的中长期配置价值，其投资逻辑主要由零碳矿山的结 构性需求、系统级解决方案能力以及可复制的场景化落地路径所支撑。为少数以矿山生产系统为核心切 入新能源工程装备与智能化解决方案的企业，博雷顿已在"新能源矿卡+新能源采装设备+构网型微电网 +矿山智能化系统"的一体化方案上形成差异化定位，并逐步验证其在真实矿区场景下的可行性与经济 性。 责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 博雷顿主席及控股股东陈方明近期 ...

盈立证券认为，博雷顿在当前阶段呈现出具吸引力的中长期配置价值，其投资逻辑主要由零碳矿山的结 构性需求、系统级解决方案能力以及可复制的场景化落地路径所支撑。为少数以矿山生产系统为核心切 入新能源工程装备与智能化解决方案的企业，博雷顿已在"新能源矿卡+新能源采装设备+构网型微电网 +矿山智能化系统"的一体化方案上形成差异化定位，并逐步验证其在真实矿区场景下的可行性与经济 性。 消息面上，博雷顿主席及控股股东陈方明近期频繁增持股份。据公告，1月20日，陈方明增持博雷顿 20.3万股，价值约452.98万港元；1月22日，陈方明增持博雷顿5.5万股H股股份，价值约111.76万港元； 1月28日，陈方明增持博雷顿1.8万股。 博雷顿(01333)盘中涨超17%，截至发稿，涨12.94%，报22.34港元，成交额7718.64万港元。 ...

盈立证券认为，博雷顿在当前阶段呈现出具吸引力的中长期配置价值，其投资逻辑主要由零碳矿山的结 构性需求、系统级解决方案能力以及可复制的场景化落地路径所支撑。为少数以矿山生产系统为核心切 入新能源工程装备与智能化解决方案的企业，博雷顿已在"新能源矿卡+新能源采装设备+构网型微电网 +矿山智能化系统"的一体化方案上形成差异化定位，并逐步验证其在真实矿区场景下的可行性与经济 性。 智通财经APP获悉，博雷顿(01333)盘中涨超17%，截至发稿，涨12.94%，报22.34港元，成交额7718.64 万港元。 消息面上，博雷顿主席及控股股东陈方明近期频繁增持股份。据公告，1月20日，陈方明增持博雷顿 20.3万股，价值约452.98万港元；1月22日，陈方明增持博雷顿5.5万股H股股份，价值约111.76万港元； 1月28日，陈方明增持博雷顿1.8万股。 ...

Investment Rating - The report maintains an "A" rating, indicating a leading position in the market [5] Core Insights - The coal mining industry is experiencing a dual transformation towards green and intelligent technologies, with significant growth potential for mining trucks in the new energy era [1] - The demand for unmanned mining trucks is expected to surge due to advancements in smart mining construction and supportive policies, with projections indicating a fleet exceeding 10,000 units by 2026-2027 [1][22] - The transition to new energy mining trucks is becoming mainstream, driven by mature technologies in pure electric and hybrid models, alongside favorable policies and cost advantages [2][37] Summary by Sections 1. Special Research - The continuous release of open-pit coal mine capacity is creating substantial growth opportunities for mining trucks, with open-pit coal mines accounting for approximately 25% of China's total coal production in 2023 [16] - The number of unmanned mining trucks is projected to increase from 88 units in 2020 to over 4,000 by 2025, with a forecast of surpassing 10,000 units by 2026-2027 [1][22] - The industry is accelerating its green transformation, with new energy mining trucks expected to see sales exceed 1,500 units in 2023 and forecasted to surpass 2,000 units by 2025 [2][37] 2. Market Information Tracking - The report tracks coal prices, with the average price of thermal coal reported at 685 RMB/ton as of January 21, 2026, remaining stable compared to January 7, 2026 [10] - Coking coal prices have seen an increase, with the main coking coal price at 1,770 RMB/ton as of January 20, 2026, up by 150 RMB/ton from January 6, 2026 [10] 3. Industry Dynamics - Recent policies from the National Energy Administration and other departments are promoting the construction of zero-carbon factories and the use of new energy vehicles in mining operations [9] - The report highlights the importance of smart mining and unmanned truck applications, supported by various national policies aimed at enhancing safety and efficiency in mining operations [35] 4. Investment Portfolio and Recommendations - The report suggests focusing on companies with strong positions in the coal sector, such as China Shenhua, Shaanxi Coal and Energy, and China Coal Energy, which are expected to benefit from stable profits and cyclical recovery [11] - It also recommends monitoring companies involved in the production of new energy mining trucks, including XCMG, SANY Heavy Industry, and others, as they are well-positioned to capitalize on the growing market [2][43]

中经记者陈燕南北京报道 "金属矿多采用深挖开采模式，深度可达500米至600米。煤矿埋藏通常较浅，但露天金属矿往往向下延伸极深， 这给定位等技术带来了新的挑战。在深度达500米的狭窄隧道中，路面多为坑洼不平的土路，与乘用车行驶的结 构化隧道完全不同，但无人驾驶系统仍需适应这样的环境。"易控智驾副总裁林巧在接受记者采访时表示。这种 复杂工况下的技术适配能力，成为矿山无人驾驶区别于普通智能驾驶的核心特征，也是其释放社会效益的基础。 在5000米的高原上，越来越多的无人驾驶矿车组成了多编组车队，无惧高原的极寒、大风环境，在数公里的崎岖 山道中穿梭作业。在越来越多的矿区，无人矿卡车队正在从"支线"变为主力军，在效率和安全方面创造出实际价 值。 目前，不少头部无人矿卡公司已具备产业化成熟经验和能力，从产业演进来看，露天矿山无人驾驶在技术研发、 商业模式、产业链生态等方面已进入稳定上升期，全国矿山无人矿卡保有量持续提升。 中国煤炭工业协会信息化分会秘书长王丹识对《中国经营报》记者表示，我国露天煤矿无人驾驶实际运行车辆已 由2020年的88台增长至2025年的4000余台。在政策、技术和模式三轮驱动下，2025年成为矿山无 ...

Core Insights - Ningde City is leveraging its coastal advantages to develop key industries and infrastructure, aiming for high-quality growth and becoming a significant player in the regional economy [1][2][3] Group 1: Industrial Development - Ningde's economy is driven by four main industries: lithium battery new energy, new energy vehicles, stainless steel new materials, and copper materials, which are expected to support substantial growth [1][4] - By 2024, the four leading industries are projected to transport 29.3 million tons of goods and 48,500 TEUs through the port, accounting for 35.2% of the total throughput [4] Group 2: Port Infrastructure - Ningde Port has achieved a cargo throughput of over 100 million tons, marking its entry into the "billion-ton port" category, with a significant increase from 49.53 million tons at the beginning of the 14th Five-Year Plan [2][4] - The port's capacity is set to expand, with 62 productive berths by the end of 2024, including 19 berths for vessels over 10,000 tons, enhancing its operational capabilities [2] Group 3: Economic Impact - The port economy's added value is expected to reach 79.2 billion yuan in 2024, contributing over 20% to the city's GDP, making it a key engine for high-quality development [4] - Ningde's total import and export volume is projected to exceed 160 billion yuan, ranking it 4th in the province and 51st among China's foreign trade cities [3] Group 4: Urban Development - The city is focusing on integrating industry, port, and urban development, aiming to enhance urban capacity and improve residents' quality of life [6][7] - The government report for 2026 emphasizes the formation of a modern coastal city structure, with plans for infrastructure expansion and improved transportation networks [7]

Investment Rating - The investment rating for the company is "Buy" [8] Core Insights - The successful grid connection of the second phase of the Guyana solar-storage project and the ongoing progress of overseas green electricity projects are key highlights [8] - The company is expected to benefit from the increasing demand for air pollution control equipment, with a projected net profit growth of 63.15% in 2024 and continued growth in subsequent years [8] - The company has a strong order backlog of 19.7 billion, which is expected to accelerate revenue recognition [8] Financial Projections - Total revenue is projected to decline by 7.64% in 2023, followed by a recovery with a growth of 20.74% in 2025 [8][9] - The net profit attributable to the parent company is forecasted to be 508.97 million in 2023, increasing to 1.23 billion by 2025, representing a growth of 48.33% [8][9] - The earnings per share (EPS) is expected to rise from 0.40 in 2023 to 0.97 in 2025 [8][9] Market Position - The company is positioned as the largest manufacturer of air pollution control equipment globally, benefiting from market demand driven by new construction and upgrades in the power and non-power sectors [8] - The company has successfully completed five international projects this year, enhancing its strategic layout in the mining equipment sector [8]

Core Insights - The company has integrated green, intelligent, and fusion technologies into the construction process of the Qunzhong Yihua No.1 open-pit coal mine, establishing a new paradigm for zero-carbon mine construction [1] Group 1: Environmental Initiatives - The project has developed a low-carbon transportation system centered around 173 new energy mining trucks, which is expected to reduce carbon emissions by approximately 33,000 tons annually, equivalent to the carbon offset of planting 1.83 million trees [1] - By the end of this year, the total number of new energy mining trucks in the mining area will increase to over 200, enhancing the effectiveness of clean transportation in emission reduction [1] - A wastewater recycling system has been established, capable of processing hundreds of thousands of cubic meters of wastewater annually, saving over 500,000 cubic meters of water resources each year for greening and dust suppression [1] Group 2: Technological Integration - The project employs a digital twin control platform that integrates IoT, big data, AI, and 5G technologies, connecting six core operational processes with six management elements for comprehensive monitoring and control [2] - This platform serves as the core engine for achieving full-process green and intelligent mining construction, enabling automatic identification of operational risks and ensuring precise control and low-carbon operations throughout the construction chain [2]

Core Insights - The Xinjiang region's coal mining industry is undergoing a significant transformation towards high-end, intelligent, and green development, exemplified by the operations at the Wucaiwan No. 1 open-pit coal mine [1][2] Group 1: Technological Advancements - The Wucaiwan No. 1 open-pit coal mine utilizes 18 autonomous mining trucks, which have collectively traveled 1.489 million kilometers and completed 198,000 trips, resulting in a carbon emission reduction of 1,896 tons [1] - A fleet of 173 new energy mining trucks has been established, projected to reduce carbon emissions by approximately 33,000 tons annually, equivalent to the carbon offset from planting 1.83 million trees [2] - The mine has implemented a comprehensive intelligent management system that covers all operational stages, enhancing efficiency and reducing the need for human labor [2] Group 2: Environmental Initiatives - The mine has constructed a wastewater recycling system that processes hundreds of thousands of cubic meters of wastewater annually, saving over 500,000 cubic meters of water resources [2] - The focus on green initiatives extends beyond equipment upgrades to include a holistic approach to energy selection and operational processes aimed at reducing emissions and improving efficiency [2] Group 3: Industry Recognition - Since 2020, the Wucaiwan No. 1 open-pit coal mine has received multiple national awards for being a green mine and a highly efficient coal mine [3] - The broader Xinjiang Economic and Technological Development Zone has established five national-level green mines and six regional-level green mines, showcasing the region's commitment to sustainable mining practices [3]

Core Insights - The Xinjiang Jun Dong coalfield is undergoing a transformation through technological innovation, with the introduction of autonomous mining trucks and smart drilling systems enhancing operational efficiency and safety [1][2] - The Jun Dong development zone is positioned as a major coal, electricity, and coal chemical base in China, with a predicted coal reserve of 390 billion tons [1][3] - The region is focusing on green and low-carbon energy transitions, aiming to reduce energy consumption and carbon emissions significantly during the 14th Five-Year Plan period [3][4] Group 1: Technological Advancements - The introduction of a low-carbon transportation system featuring 173 new energy mining trucks is expected to reduce carbon emissions by approximately 33,000 tons annually [2] - A smart management platform integrating IoT, big data, AI, and 5G technologies has been implemented to enhance the efficiency of mining operations across six core processes [2] - The company has successfully completed intelligent upgrades for 11 mines, achieving certification for intelligent mining practices [2] Group 2: Green and Low-Carbon Initiatives - The Jun Dong development zone has established 13 modern coal mines, contributing over 60% of coal production in Xinjiang [3] - The region has created five national-level and six regional-level green mines, promoting energy-efficient and environmentally friendly mining practices [3] - A white paper on green intelligent development in open-pit mining has been released, proposing an integrated solution for the entire lifecycle of mining operations [3] Group 3: Future Development Plans - Future initiatives will focus on integrating coal mining with renewable energy, establishing a clean energy supply system, and promoting the use of intelligent mining equipment [4] - The development strategy includes creating a virtuous cycle of "development-utilization-restoration" in mining operations [4] - The region aims to leverage special technology funds and green finance to support intelligent upgrades and green production technology research in the coal industry [4]