Core Viewpoint - Boreton Technology Co., Ltd. has successfully transitioned from small-scale demonstrations to large-scale applications in the overseas market, marking a significant milestone with the recent order of 31 electric mining trucks for a key mining project in Africa [1][4]. Group 1: Company Overview - Established in 2016, Boreton is a private high-tech enterprise focused on new energy solutions, providing comprehensive green production solutions for users [1]. - The company has been recognized as a high-tech enterprise and a key "specialized and innovative" small giant by the Ministry of Industry and Information Technology [2]. Group 2: Technological Innovation - Boreton has developed several core technological advantages in electric and intelligent mining, including self-developed vehicle architecture, dual-motor powertrain, large-capacity batteries, and intelligent thermal management systems [2]. - The battery system has demonstrated a capacity retention rate of 88% after five years of high-intensity operation, meeting user demands for low operational costs [2]. Group 3: Market Expansion Strategy - The recent order represents Boreton's first large-scale project in Africa, indicating a shift from demonstration applications to substantial market penetration [4]. - The company is strategically targeting regions such as Africa and Southeast Asia, with plans to extend to Central Asia, South America, and the Middle East, where there is a strong demand for green mining equipment [4][5]. Group 4: Operational Challenges and Solutions - Boreton faces challenges in overseas markets, including policy compliance, high cognitive costs, and inadequate infrastructure, which it addresses through an "ecological cooperation + demonstration leading" strategy [5]. - The company provides a one-stop solution for overseas clients, integrating vehicles with renewable energy sources like solar and wind power to ensure stable electricity supply [5]. Group 5: Future Outlook - Following its listing on the Hong Kong Stock Exchange in 2025, Boreton plans to increase investment in technology research and development to create new intelligent equipment that meets international market needs [7]. - The company aims to enhance its global brand recognition and influence through participation in international exhibitions and industry forums, leveraging its recent large-scale export to Africa as a model for future endeavors [7][8].

Core Viewpoint - 博雷顿科技股份公司 has successfully passed the listing hearing and obtained IPO filing from the securities regulatory authority, marking a significant step towards its listing on the Hong Kong Stock Exchange [1][7]. Company Overview - Founded in 2016, 博雷顿 operates across the entire clean energy production, storage, and utilization value chain, providing integrated green energy management solutions and products such as hydrogen fuel and pure electric engineering machinery [1]. - The company specializes in the new energy sector, leveraging core technologies in powertrains, battery packs, and temperature management systems, establishing itself as a leader in the new energy engineering machinery and heavy truck fields [1]. Product Development - 博雷顿 launched its five-ton electric loader model BRT951EV in December 2019, followed by the 90-ton electric wide-body dump truck model BRT90E in May 2020 [1]. - The product lineup primarily consists of electric models, including electric loaders with payloads ranging from three to seven tons and electric wide-body dump trucks with capacities of 90 to 105 tons [1]. Financial Performance - The company has shown continuous revenue growth, with estimated revenues of RMB 360.1 million in 2022, RMB 464.7 million in 2023, and RMB 635.5 million in 2024 [3][4]. - Despite revenue growth, 博雷顿 has faced challenges with operating losses, which were RMB 169.8 million in 2022, RMB 239.4 million in 2023, and RMB 272.3 million in 2024 [3][4]. - In 2024, product sales revenue reached RMB 622 million, accounting for 97.8% of total revenue, with electric wide-body dump truck sales contributing RMB 365 million (57.4%) and electric loader sales contributing RMB 224 million (35.3%) [3]. Financing History - 博雷顿 completed several financing rounds, including A round in October 2018 raising RMB 50.16 million, B round raising RMB 275 million, C round raising RMB 156 million, and C+ round raising RMB 954 million, with post-money valuations increasing significantly [5]. - Prior to the IPO, major shareholders included 上海方翱 (23.05%), 陈方明 (8.48%), and 云部落易津 (0.65%), collectively controlling 32.18% of the company's shares [5]. Future Outlook - With the successful completion of the listing hearing, 博雷顿's future development prospects are highly anticipated, particularly in how it will leverage capital markets to expand its business and enhance profitability [7].