Investment Rating - The report upgrades the investment rating of the company to "Buy" from "Hold" [5] Core Viewpoints - The company is positioned as a leader in AI and coal industry, expanding its business into chemical and new energy sectors [1][3] - The market for coal intelligentization is projected to exceed 434.3 billion yuan by 2035, driven by increasing safety regulations and frequent coal mine accidents [2][49] - The company has established six major business lines, with intelligent mining and intelligent washing being the core revenue drivers [1][23] Summary by Relevant Sections Company Overview - The company, backed by state-owned Shan'neng Group, has undergone significant restructuring and now focuses on providing digital and intelligent solutions for the energy sector [16][19] - As of Q2 2025, Shan'neng Group holds a 35.20% stake in the company [1] Business Segments - The core product offerings include industrial internet platforms, intelligent mining products, intelligent washing solutions, smart power new energy solutions, and ERP implementation services [1][23] - Intelligent mining and washing accounted for 34.66% and 23.01% of total revenue in 2024, respectively [1][34] Financial Performance - The company achieved a revenue of 1.14 billion yuan in 2023, with a projected increase to 1.35 billion yuan in 2024, representing an 18.35% growth [4] - The net profit attributable to the parent company is expected to grow from 93 million yuan in 2024 to 154 million yuan by 2027, reflecting a compound annual growth rate of 20.75% [4] Market Potential - The intelligent mining market is expected to grow significantly, with the penetration rate of intelligent coal mines currently at 21.09% [2] - The company has strategic partnerships, including a core collaboration with Huawei to enhance digital solutions in the mining sector [3][49] Profitability and Growth Forecast - The company is projected to achieve net profits of 1.08 million yuan in 2025, increasing to 1.54 million yuan by 2027 [3] - The report highlights a strong growth trajectory, supported by the digital transformation trends within the energy sector [28]

9月8日，山西省长治市政府与华为技术有限公司（以下简称"华为"）就数字化建设签署战略合作协议。 次日，以"数智世界 太行有为"为主题的华为中国行2025·山西新质生产力大会在长治市成功举办。大会期间，华为ICT（信息与通信技术）学院揭牌仪式成 功举行，助力长治数字经济相关人才培养。 01、华为多个项目落地长治 9月8日，长治市政府与华为签署战略合作协议。 次日，以"数智世界 太行有为"为主题的华为中国行2025·山西新质生产力大会在长治市成功举办。 此次大会旨在通过政府、企业、科研机构等多方合作，推动数据要素、数智技术与产业深度融合，助力长治乃至山西能源转型、产业升级。 作为国家资源型经济转型综合配套改革试验区，目前山西在用算力中心机架规模达到51.4万标准机架，综合算力指数全国第八，发展新质生产力潜力巨 大。 02、全球矿山军团后又一大动作 长治市委书记丁小强表示，近年来，长治坚持把数字经济作为转型发展的重要抓手，加快数实融合、数智赋能。华为公司是全球领先的信息与通信基础设 施和智能终端提供商，是我国企业自主创新的标杆。 9月8日，市政府与华为技术有限公司签署战略合作协议 希望以此次合作为契机，与华为公司及 ...

Group 1 - Shanxi's Changzhi City has become a hotspot for technology, with Huawei's recent investments and projects driving digital transformation and industrial upgrades in the region [1][3] - A strategic cooperation agreement was signed between Changzhi City Government and Huawei, focusing on areas such as trusted data storage centers, artificial intelligence, industrial development, and talent cultivation [3][5] - The "New Quality Productivity Conference" held in Changzhi gathered over 300 representatives from various sectors to discuss trends in digital transformation and the integration of data elements and intelligent technologies [5][6] Group 2 - The conference highlighted the potential of Shanxi as a resource-based economic transformation pilot zone, with a computing center scale of 514,000 standard racks and a comprehensive computing power index ranking eighth in the country [5][6] - Huawei's establishment of the "Coal Mine Corps" headquarters in Shanxi aims to promote intelligent construction in the coal mining sector, with a planned investment of 1.5 billion yuan for the project set to operate by October 2025 [7] - The collaboration between Huawei and local educational institutions aims to cultivate high-quality ICT talent to meet the demands of the regional digital economy [5][6][7]

Core Insights - The conference held in Changzhi on September 9 focused on how resource-based cities can cultivate new productive forces amid the wave of digital transformation, with a particular emphasis on the energy industry and its opportunities for transformation and upgrading [1] Group 1: Digital Transformation in Resource-Based Cities - The core direction for the energy industry transformation in Changzhi is the intelligentization of coal mining [3] - The digital transformation is described as a mandatory requirement rather than an option, with Huawei's HarmonyOS being a crucial foundational platform for this transformation [3] - The Mine Harmony Operating System, based on OpenHarmony, is identified as a key support for the intelligent transformation in the coal mining sector [3] Group 2: Collaboration and Ecosystem Development - Huawei and Shanxi Jiaan Electric Co., Ltd. established a partnership, granting Jiaan Electric the status of Mine Harmony OSV (Operating System Vendor), marking them as a core builder and enabler of the Mine Harmony ecosystem [3] - The collaboration aims to develop, adapt, and deliver hardware and software solutions for the mining industry based on the Mine Harmony Operating System [3][4] - The focus will be on the intelligent transformation of mining electromechanical equipment, promoting comprehensive intelligent collaboration from connection, communication to control [3] Group 3: Overcoming Challenges in Mining Operations - The mining industry has long faced the issue of "data silos" due to diverse equipment brands and non-unified operating systems [4] - HarmonyOS, with its distributed architecture and unified connectivity capabilities, is set to break this dilemma, enabling remote control and multi-screen collaboration to become a reality [4] - The Mine Harmony Operating System facilitates interoperability among different brands and models of equipment, allowing them to communicate effectively [4]

Core Insights - The article highlights the revolutionary impact of the "Intelligent Control System for Coal Mining Based on Minhong" on the coal mining industry in Shanxi, marking it as a significant step towards the intelligent transformation of the sector [1][3] Group 1: Technological Innovation - The Minhong project, led by China Coal Energy Group, aims to develop intelligent mining technologies and has successfully completed industrial trials at the Daming Coal Mine [3][7] - The project addresses the fragmentation of communication protocols and the reliance on foreign operating systems, which have hindered the intelligent development of coal mining [5][9] - The Minhong system has established a new industrial IoT architecture that allows direct communication between devices, significantly improving data interaction efficiency [9][11] Group 2: Hardware Development - The Minhong project has achieved breakthroughs in the autonomy of core components, including the development of key devices such as circuit boards and control systems [11][12] - A notable innovation is the mobile driving cabin, which enables remote monitoring and operation of underground equipment, enhancing operational efficiency and reducing errors [11][12] Group 3: Software Advancements - The project has developed the Minhong operating system and various modules that allow for real-time data sharing and fault monitoring across different equipment [13][14] - The implementation of the Minhong system has led to significant improvements in monitoring capabilities, allowing for quicker fault detection and repair, thus enhancing safety in coal mining operations [13][14] Group 4: Collaborative Efforts - The collaboration between China Coal and Huawei has been crucial in the successful implementation of the Minhong project, with Huawei providing comprehensive technical support [15][16] - The partnership has set a benchmark for intelligent coal mining development in Shanxi and offers a replicable model for the national coal industry [16]