Investment Overview - The company plans to jointly invest with Zhengzhou Hengda Intelligent Control Technology Co., Ltd. to establish a new joint venture named Shaanxi Shanmei Hengda Intelligent Control Technology Co., Ltd. with a registered capital of RMB 100 million [1][2] - The company will contribute RMB 51 million, holding a 51% stake, while Hengda Intelligent Control will contribute RMB 49 million for a 49% stake [1][2] Board Approval - The company's board of directors approved the investment proposal during the 16th meeting of the 8th board on August 22, 2025, with unanimous support (7 votes in favor) [2] Joint Venture Details - The joint venture will focus on the research and manufacturing of intelligent mining control systems and core components, providing comprehensive, safe, reliable, and efficient solutions for coal mining [2][6] - The joint venture will be governed by a board consisting of three directors, with the company nominating two and Hengda nominating one [6] Partner Company Profile - Zhengzhou Hengda Intelligent Control Technology Co., Ltd. specializes in various manufacturing sectors, including hydraulic power machinery, industrial robots, and intelligent control systems [3][4] - The company was established on April 14, 1999, with a registered capital of RMB 360 million and is primarily controlled by Zhengzhou Coal Mining Machinery Group Co., Ltd. [3][4] Strategic Impact - This investment is expected to enhance the company's market presence and competitiveness by leveraging its engineering machinery manufacturing expertise alongside Hengda's technological advantages in intelligent mining systems [7] - The collaboration aims to deepen strategic alignment and expand market opportunities in the intelligent mining sector, addressing the growing demand for smart equipment [7]

Core Viewpoint - The company plans to establish a joint venture with Zhengzhou Hengda Zhikong Technology Co., Ltd. to enhance the development of intelligent mining control systems and core components [1] Group 1: Joint Venture Details - The registered capital of the joint venture is set at 100 million yuan, with the company contributing 51 million yuan for a 51% stake [1] - Zhengzhou Hengda Zhikong will contribute 49 million yuan for a 49% stake in the joint venture [1] Group 2: Strategic Objectives - The initiative aims to accelerate industrial restructuring and focus on the research and manufacturing of intelligent mining control systems [1] - The joint venture intends to provide comprehensive, safe, reliable, and efficient solutions for intelligent mining control systems [1]