Group 1 - The core business of the company primarily revolves around hydraulic supports for coal mining equipment, providing comprehensive aftermarket services including maintenance, remanufacturing, spare parts supply management, and second-hand equipment rental and sales [2] - As of October 31, the number of shareholders of the company increased to 9,572, representing a 1.74% increase, while the average circulating shares per person decreased by 1.71% to 4,741 shares [2] - For the period from January to September 2025, the company reported a revenue of 724 million yuan, a year-on-year decrease of 14.52%, and a net profit attributable to shareholders of 75.34 million yuan, down 32.89% year-on-year [2] Group 2 - On November 5, the company's stock price increased by 1.53%, with a trading volume of 73.80 million yuan [1] - The financing data on November 5 indicated a financing buy-in of 3.72 million yuan and a financing repayment of 4.27 million yuan, resulting in a net financing buy-in of -0.55 million yuan [1] - The total balance of margin trading for the company as of November 5 was 45.64 million yuan, accounting for 2.44% of the circulating market value, which is below the 20th percentile level over the past year [1] Group 3 - The company has cumulatively distributed dividends amounting to 42.10 million yuan since its A-share listing [3]

Group 1 - The core business of the company primarily revolves around hydraulic supports for coal mining equipment, providing comprehensive aftermarket services such as maintenance, remanufacturing, spare parts supply management, and second-hand equipment rental and sales [2] - As of October 10, the number of shareholders of the company increased by 2.20% to 9,338, with an average of 4,860 circulating shares per person, which decreased by 2.15% [2] - For the first half of 2025, the company reported a revenue of 503 million yuan, a year-on-year decrease of 11.74%, and a net profit attributable to the parent company of 40.35 million yuan, down 48.87% year-on-year [2] Group 2 - On October 15, the company's stock rose by 0.76%, with a trading volume of 28.7353 million yuan [1] - The financing buy-in amount on the same day was 1.638 million yuan, while the financing repayment was 3.3809 million yuan, resulting in a net financing buy-in of -1.7429 million yuan [1] - The total financing and securities lending balance as of October 15 was 56.689 million yuan, accounting for 3.14% of the circulating market value, which is above the 70th percentile level over the past year [1] Group 3 - The company has cumulatively distributed dividends amounting to 42.104 million yuan since its A-share listing [3]

Company Overview - Zhengzhou Suda Industrial Machinery Service Co., Ltd. was established in July 2009 and listed on the Shenzhen Stock Exchange in September 2024 with a registered capital of 76 million yuan [2] - The company specializes in comprehensive aftermarket services for industrial machinery, focusing on hydraulic supports for coal mining equipment [2] - It employs over 800 staff and has a service network covering all major coal production bases in China [2] Business Performance - The company has seen steady growth in its shield tunneling machinery pipeline component business, with revenues of approximately 28 million yuan in 2022 (2.6% of total revenue), 60 million yuan in 2023 (5.3%), and projected 60 million yuan in 2024 (5.3%) [2] - The revenue for the subsidiary Saifu Fluid is expected to be around 200 million yuan in 2024 [7] Strategic Development - The company aims to enhance the quality of its repair and remanufacturing services, expand repair center layouts, and establish industry standards to increase market share [3] - Plans include developing a marketing strategy to explore new markets and improve market share among existing customers [3] - The company intends to expand its fluid connection business into non-coal industries such as engineering machinery and agriculture [3] Mergers and Acquisitions - The company is considering two types of acquisitions: restructuring hydraulic fluid connection channels and factories, and forming joint ventures with state-owned enterprises for remanufacturing centers [4] Market Dynamics - The company's profitability is linked to the coal industry's performance; demand for aftermarket services may be delayed during downturns but will rebound as market conditions improve [5][6] - The aftermarket service sector is a stable market as long as coal production continues [5] Service Model - The company utilizes a competitive bidding process for its services, with pricing based on agreements for repair, remanufacturing, and parts supply [14] - It has established six repair centers within 300-500 km of major coal production areas to ensure timely service delivery [15] Financial Insights - The gross margin for spare parts is high, with a complete supply chain and efficient inventory system in place [15] - The company is actively seeking suitable acquisition targets and will disclose any significant progress in accordance with regulations [16]