Core Viewpoint - Haian Group's mining tire operation management business demonstrates strong customer loyalty and addresses significant customer pain points, leading to a unique competitive advantage and sustainable business growth [2]. Group 1: Business Operations - The initial pricing for new projects may result in lower gross margins due to the unique characteristics of the mineral types, geological conditions, and operational environments [2]. - As the company becomes more familiar with the tire operating environment, there is potential for continuous product iteration and optimization, which can effectively reduce tire consumption and improve project gross margins [2]. Group 2: Business Synergy - The mining tire operation management business complements the direct sales business, creating a mutually reinforcing dynamic that drives healthy business development [2].

Group 1 - The core viewpoint of the article highlights Haian Rubber's strong market position in Russia, with a solid order reserve and ongoing customer expansion [2] - The company has signed long-term sales contracts for all-steel giant tires amounting to approximately 337 million yuan, covering 17 newly developed customers, and is in discussions for additional projects with an estimated total order value of about 239 million yuan [2] - The total order amount from these contracts exceeds 576 million yuan, indicating a robust order reserve in the Russian market [2] Group 2 - Haian Rubber is accelerating its global expansion, successfully developing over 30 overseas customers in more than 15 countries, including Australia, Indonesia, and Chile, with potential for increased procurement after product trials [3] - The company is also exploring new customer development in countries like Peru, the Democratic Republic of the Congo, and Kazakhstan since 2025 [3] - Participation in domestic and international mining projects from companies like Zijin Mining and Jiangxi Copper Group is expected to benefit from demand growth due to downstream expansion and mergers [3] Group 3 - The company is implementing a localization strategy by investing in a factory for all-steel giant tires in Russia, aiming to enhance market share and supply chain resilience [4] - This strategy marks a shift from "product export" to "localization of production," allowing for quicker response times and deeper customer relationships [4] Group 4 - Haian Rubber utilizes cross-border trade in RMB for settlements in the Russian market, ensuring stable and smooth transaction paths without relying on the SWIFT system [5] - The company's operational management in mining tire business is unique in the industry, with initial low gross margins expected to improve as familiarity with operational environments increases [5] - This business model complements direct sales, creating a distinctive competitive advantage for the company [5]

Core Viewpoint - The company plans to enhance its development in international markets through a "3+2" strategy, focusing on three major target markets and two sales strategies [1] Group 1: Target Markets - The three major target markets include traditional markets in Europe and the United States for mining tires, emerging markets such as BRICS countries, Southeast Asia, and Africa, as well as the Chinese overseas market linked to state-owned enterprises' investments in mining projects [1] Group 2: Sales Strategies - The company aims to optimize its product structure and promote brand internationalization to continuously provide value-added services to customers and enhance product recognition [1]