Group 1: Business Performance and Strategy - The proportion of new orders from the metal mining business has surpassed that of the sand and gravel aggregate business, indicating a strategic shift towards metal mining and overseas markets [2] - The gross margin of the metal mining segment is slightly higher than that of the engineering aggregate segment, with after-market services showing higher margins, particularly in overseas markets due to factors like tax rebates [2] - The company expects growth in the next year to be driven primarily by the after-market services segment and the expansion of overseas markets, while the domestic traditional equipment market is expected to remain stable [2] Group 2: Order Visibility and Delivery - The delivery cycle for orders varies based on product, project, and customer conditions, typically ranging from six months to one year from signing to revenue recognition [2] - The company maintains a stable overall gross margin despite fluctuations in specific segments [2] Group 3: International Projects and Future Plans - The company is involved in the first phase of a gold mining project in Zimbabwe through a partnership and an "EPC+O" model, focusing on processing surface oxidized ore [3] - The profitability of the gold mining project is influenced by multiple variables, including gold prices, actual production, operational costs, and local tax policies, leading to uncertainties [3] - Future phases of the gold mining project are still in the technical and business negotiation stages, with no final decisions on cooperation models or investment scales yet [3] Group 4: Financing and Employee Incentives - The company is considering various financing options based on business development needs and project progress, while also exploring employee incentive plans to attract and retain talent [3]
南矿集团(001360) - 2025年12月11日投资者关系活动记录表