耐普矿机 20251024 摘要 耐普矿机 2025 年前三季度海外综合毛利率达 52%，经营净利润率约为 17%，受益于海外市场高速增长，订单同比增长 32%，其中国内增长 12%，国外增长 51%。 2025 年前三季度，耐普矿机在全球各大区域订单均实现高速增长，南 美增长近 50%，非洲增长近 90%，中亚五国及蒙古、俄罗斯区域增长 超 40%，亚太区增长超 60%。 锻造二代复合衬板具备五大技术优势：寿命提升一到两倍，提升半自磨 机台效，降低能耗 10%，运行稳定，安装更换便利，采用先进工艺实现 高韧性、高硬度同步升级，实验室测试耐磨性能提高 42%-53%。 高合金锻造复合衬板的应用案例显示，西藏巨龙兹普拉选厂使用后，半 自磨机寿命从 105 天提升至 7.7 个月，总处理矿量翻倍，每小时处理量 提高 9%，每吨矿石电耗下降 12.7%，钢球消耗下降 8%，拆装时间减 少一半。 耐普矿机海外订单中，90%以上为外资控股矿山，海外收入占比达 70%，预计未来 3 至 5 年内将提升至 80%，衬板订单增速最快，占比 接近 60%，有助于推广二代锻造复合衬板。 Q&A 耐普矿机 2025 年第三季度的财 ...

耐普矿机工作人员表示，在二期项目车间内，产线核心设备快锻压机重达2000吨，光是主体部分快锻液压机组上横梁就重达37吨。可想而知，让这些大设 备智能起来，并不容易。 走进耐普矿机位于江西上饶市经开区的二期扩建项目生产车间，一条全自动焊接柔性生产线正在有序运转，机械臂化身高效精准的焊接能手，集成多元功 能，从工件抓取起步，经表面激光清洗、感应加热，再到拼搭焊接，直至下料装卸，全程实现自动化生产。"焊接工序集成视觉识别系统与数字孪生技 术，大大提升焊接合格率，产能较传统人工焊接模式大幅提升。"耐普矿机总经理程胜在接受中国证券报记者专访时表示。 公司硫化车间 车间里"智"含量高的背后，正是耐普矿机"十四五"以来高质量发展的一个生动缩影。近日，中国上市公司协会联合中国证券报等媒体，开展"我在'十四 五'这五年 上市公司在行动"主题宣传活动。"'十四五'以来，耐普矿机走过了一段不平凡的发展历程，实现了国际化战略升级与主营业务的跨越式发 展。"程胜说。 自主创新动能足 耐普矿机是一家集研发、生产、销售和服务于一体的重型矿山选矿装备及其新材料耐磨备件的专业制造企业。选矿设备都是"大块头"，而其生产设备同样 也是"大家伙"。 ...

自主创新动能足 耐普矿机是一家集研发、生产、销售和服务于一体的重型矿山选矿装备及其新材料耐磨备件的专业制造 企业。选矿设备都是"大块头"，而其生产设备同样也是"大家伙"。 耐普矿机工作人员表示，在二期项目车间内，产线核心设备快锻压机重达2000吨，光是主体部分快锻液 压机组上横梁就重达37吨。可想而知，让这些大设备智能起来，并不容易。 "车间里全自动焊接柔性生产线相当于一个焊接智能工作站，它通过视觉识别定位，结合激光传感纠偏 系统，焊接更精准，焊缝质量高，缺陷率低。"程胜表示，在定制非标产品领域，智能机器人应用并不 广泛，但耐普矿机是先行者，率先尝试攻克难题，满足个性化需求。 这与耐普矿机对研发创新与自主核心技术的高度重视是分不开的。 走进耐普矿机（300818）位于江西上饶市经开区的二期扩建项目生产车间，一条全自动焊接柔性生产线 正在有序运转，机械臂化身高效精准的焊接能手，集成多元功能，从工件抓取起步，经表面激光清洗、 感应加热，再到拼搭焊接，直至下料装卸，全程实现自动化生产。"焊接工序集成视觉识别系统与数字 孪生技术，大大提升焊接合格率，产能较传统人工焊接模式大幅提升。"耐普矿机总经理程胜在接受中 国证券 ...

Core Insights - The article highlights the significant advancements and strategic developments of the company, particularly in automation and international expansion during the "14th Five-Year Plan" period [1][2][3]. Group 1: Automation and Innovation - The company has implemented a fully automated welding flexible production line, enhancing welding accuracy and reducing defect rates through advanced technologies like visual recognition and laser sensing [2]. - Research and development investments have increased significantly, with expenditures of 25.17 million, 28.19 million, 34.87 million, and 38.99 million yuan from 2021 to 2024, respectively, indicating a strong focus on innovation [2]. - The company has successfully developed and promoted innovative products such as the second-generation composite liner, which has shown a lifespan improvement of nearly 100% compared to traditional metal liners [3]. Group 2: International Market Expansion - The company has maintained an overseas revenue share of over 50% since the "14th Five-Year Plan," with the overseas revenue share reaching 54.88% in the first half of the year [3][4]. - New production facilities are being established in various countries, including Zambia, Chile, Serbia, and Peru, marking a significant milestone in the company's international strategy [3][4]. - The company aims to increase its overseas revenue share to over 80% in the future, positioning itself as a leader in the global mineral processing equipment sector [4][5]. Group 3: Strategic Planning for Future Growth - The company has outlined three key strategies for the upcoming "15th Five-Year Plan": strategic investment in mineral resources, global capacity layout and market expansion, and technological innovation and product upgrading [5][6]. - The focus on strategic investments in copper and gold mines is expected to create new profit growth points and enhance collaboration with mining clients [5]. - The company aims to become a provider of advanced mining technology solutions, leveraging the strong demand for key minerals in the context of global energy transition [6].

Group 1 - The company hosted a specific research meeting with 16 institutions, including Zhongyou Fund and Huaxia Fund, to discuss its 2025 semi-annual performance, the Colombia copper-gold mine project, and future development plans [1] - For the first half of 2025, the company reported a revenue of 413 million yuan, a decrease of 34.04% year-on-year, but revenue remained stable when excluding the impact of EPC projects [2] - The net profit attributable to shareholders was 16.99 million yuan, down 79.86% year-on-year, but showed a 100.34% increase compared to the first quarter of the same year [2] Group 2 - The Colombia copper-gold mine project, in which the company holds a 50% stake after investing 100 million USD, has a proven reserve of 97.95 million tons with copper grade at 0.41%, gold grade at 0.23 g/t, and silver grade at 2.63 g/t [3] - The project has completed feasibility studies and is awaiting EIA approval, expected to be granted in the second half of the year, with a construction period of two years and a mine life of 14.2 years [3] - The company plans to focus on copper and gold investments, leveraging its high-alloy composite liner advantages to enhance wear resistance, mill efficiency, and reduce energy consumption [4] Group 3 - The company has established five overseas bases and aims for a total production capacity of 3 billion yuan, with new products expected to generate significant revenue starting in the fourth quarter of this year [4] - Future growth is anticipated from the production of overseas bases, the launch of new products, and mining collaborations [4]

Core Viewpoint - The company, Nepean Mining (耐普矿机), plans to focus on investment opportunities in mineral resources, particularly in copper and gold mines, through various forms of equity participation and control [1] Group 1: Growth Strategy - The company expects its revenue scale to potentially double due to the gradual production ramp-up of overseas production bases, leading to continuous release of capacity and orders over the next three to five years [1] - The introduction of a new product, the second-generation composite liner, is seen as a disruptive innovation that is currently in a critical phase from trial to mass production [1] - Mining collaborations are characterized by high certainty, combined with strategic investments in copper and gold resources, indicating clear long-term growth potential [1]