Core Viewpoint - The company, Keda Control (831832.BJ), reported a revenue of 149 million yuan and a net profit of 4.58 million yuan for the first half of the year, with significant growth in its new energy business, which achieved a revenue of 51.47 million yuan, a year-on-year increase of 40% [1][2]. Group 1: Financial Performance - The overall mining industry faced challenges in the first half of 2025, with a 30.3% year-on-year decline in total profits to 429.41 billion yuan, and a 53% decline in the coal mining and washing industry profits to 149.16 billion yuan [1]. - Keda Control's performance was impacted by the downturn in the coal market, but the company saw a recovery in the second quarter, achieving a revenue of 81.56 million yuan, a quarter-on-quarter increase of 21%, and a non-recurring net profit of 10.05 million yuan, marking a turnaround with a quarter-on-quarter increase of 242% [1][2]. - The gross margin for the second quarter reached 47.70%, reflecting a significant quarter-on-quarter increase of 7.17 percentage points and a year-on-year increase of 3.25 percentage points [1]. Group 2: Business Development - The new energy charging and swapping business has shown remarkable growth, with projected revenue of 97 million yuan in 2024, a year-on-year increase of 208.65%, and a 40% increase in the first half of this year [2]. - The company has been increasing its R&D investment, with R&D expenses reaching 22.30 million yuan in the first half of the year, a 3.30% increase from the previous year [2]. - Sales and management expenses have decreased, with sales expenses at 17.70 million yuan (down 4.97%) and management expenses at 11.87 million yuan (down 11.99%), indicating improved operational efficiency [2]. Group 3: Strategic Initiatives - The chairman of the company stated that due to cyclical industry impacts, the first growth curve (smart mining) is under pressure, and the focus will be on strengthening the second growth curve (new energy charging and swapping business) while also nurturing a third growth curve [3]. - Keda Control announced a significant acquisition of 51% of Changzhou Haitong Information Technology Co., Ltd. for 209.1 million yuan, marking the largest acquisition since the establishment of the Beijing Stock Exchange [3]. - The acquisition is expected to create synergies between Keda Control's strengths in smart mining and industrial internet and Haitong's expertise in audio-visual intelligent analysis and machine vision, enhancing product performance and market competitiveness [3].