Core Viewpoint - 博雷顿 (01333.HK) has demonstrated significant growth in its first half-year report since listing, with revenue reaching RMB 327 million, a year-on-year increase of 22.2%, and gross profit rising to RMB 20.95 million, up 152.1% [1] Financial Performance - For the six months ending June 30, 2025, the company's gross margin improved to 6.4%, an increase of 3.3 percentage points year-on-year [1] - The gross margin has shown a consistent upward trend, with figures of 2.3%, 2.0%, and 5.8% in the years 2022 to 2024, respectively [1] - Sales expense ratio decreased from 10.2% to 9.2%, and administrative expense ratio fell from 19.8% to 14.6%, indicating effective cost control during business expansion [1] Product Development and Innovation - The company accelerated the mass production of self-manufactured electric wide-body dump trucks, utilizing an 800V voltage platform that reduces charging time by over 10% [2] - New product developments include various electric vehicles and charging technologies aimed at enhancing battery utilization and operational efficiency [2] - The sales revenue from autonomous driving equipment exceeded 11% of total revenue for the first half of the year, surpassing the entire revenue for similar business in 2024 [2] Strategic Partnerships and Market Position - 博雷顿 has established a partnership with Huawei Digital Energy to focus on zero-carbon smart mining and new energy mining vehicle supercharging [3] - The company has been recognized as the "first stock of zero-carbon mining robots" globally, emphasizing its commitment to renewable energy equipment development [3] - 博雷顿 has been selected for inclusion in the Hang Seng Composite Index, effective September 8, 2025, reflecting strong market recognition of its business performance and value [4]

Group 1 - The company reported a revenue of 327 million RMB for the six months ending June 30, 2025, representing a year-on-year increase of 22.18% [1] - The company incurred a loss of 174 million RMB during the same period, with a basic loss per share of 0.48 RMB [1] - The company accelerated the mass production of self-manufactured electric wide-body dump trucks, utilizing an 800V voltage platform technology that reduced charging time by over 10% [1] Group 2 - In the first half of 2025, sales revenue from autonomous driving equipment accounted for over 11% of total revenue, surpassing the entire revenue from similar business in 2024 [2] - The company’s business model for autonomous driving includes three main approaches: (i) selling unmanned electric equipment to customers; (ii) providing automated operation technology services to clients and charging service fees periodically; and (iii) selling pre-installed chassis without perception and intelligent software [2] - The autonomous driving business primarily relies on sales of autonomous driving equipment and technical services, without adopting an asset-holding operational model, thus minimizing the impact on the company's liquidity [2]

Core Insights - The company reported a revenue of 327 million RMB for the six months ending June 30, 2025, representing a year-on-year growth of 22.18%, while incurring a net loss of 174 million RMB, with a basic loss per share of 0.48 RMB [1] Financial Performance - Revenue for the first half of 2025 reached 327 million RMB, marking a 22.18% increase compared to the previous year [1] - The company experienced a net loss of 174 million RMB during the same period [1] - Basic loss per share was reported at 0.48 RMB [1] Product Development - The company accelerated the mass production of self-manufactured chassis electric wide-body dump trucks in the first half of 2025 [1] - Introduced an 800V voltage platform technology that reduces charging time by over 10% [1] - The company is developing several new products, including: - Charging and swapping technology - 135-ton class 800kWh swapping vehicles - 145-ton class range-extended electric wide-body dump trucks - 6-ton electric loaders - 18-ton electric forklifts - These products aim to enhance vehicle operational efficiency by improving battery utilization and range [1] Autonomous Driving Business - Sales revenue from autonomous driving equipment accounted for over 11% of total revenue in the first half of 2025, surpassing the entire revenue from similar business in 2024 [1] - The company plans to promote its autonomous driving business through three business models: - Selling unmanned electric equipment - Providing automated operation technology services for a fee - Selling line-controlled chassis electric equipment without perception and intelligent software [1]

Core Insights - The company reported a revenue of 327 million RMB for the six months ending June 30, 2025, representing a year-on-year increase of 22.18% [1] - The company incurred a loss of 174 million RMB during the same period, with a basic loss per share of 0.48 RMB [1] Group 1: Product Development and Technology - The company accelerated the mass production of self-manufactured electric wide-body dump trucks during the first half of 2025 [1] - The company's 800V voltage platform technology reduced charging time by over 10% [1] - Development of several new products was initiated, including a 135-ton 800kWh battery swap model and a 145-ton range-extended electric wide-body dump truck [1] Group 2: Autonomous Driving Business - Sales revenue from autonomous driving equipment accounted for over 11% of total revenue in the first half of 2025, surpassing the entire revenue for this segment in 2024 [2] - The business model for autonomous driving includes three main approaches: selling unmanned electric equipment, providing technical service fees for automated operation technology, and selling pre-installed chassis without perception and intelligent software [2] - The autonomous driving business primarily relies on sales and technical services, avoiding significant liquidity strain on the company [2]