Market Potential - The global market for all-steel giant tires is expected to reach a production of 358,000 units by 2027, driven by their superior properties compared to giant bias tires [3]. - There are currently 1,615 active large open-pit mines globally, corresponding to approximately 56,000 giant mining trucks [2]. Sales Performance - Sales data for 2024 by rim diameter includes: - 49 inches: 5,974 units - 51 inches: 4,201 units - 57 inches: 5,594 units - 63 inches: 302 units [5]. Competitive Advantages - The company has a strong mining service background and a unique "product + operation" model, which enhances customer loyalty and operational efficiency [6]. - The company has established partnerships with major global mining companies, leveraging its technological and product advantages to expand its market presence [7]. - The competitive landscape shows a clear differentiation, with the company closely following three major international brands in market share and technology [8]. Industry Dynamics - The demand for giant tires is less cyclical compared to the underlying mining products, with no significant seasonal characteristics due to the all-weather operation of dump trucks [4]. - The company has a robust global presence, with operations in dozens of countries, allowing for localized service and rapid market response [7]. Future Development Plans - The company plans to enhance its international market development through a "3+2" strategy, targeting traditional markets in Europe and North America, emerging markets in BRICS and Southeast Asia, and Chinese overseas investments [10]. - Future revenue growth is expected to depend on customer and market development, with overseas market revenue growth projected to exceed 22% from 2022 to 2024 [11]. Financial Outlook - As of July 31, 2025, the company has an order backlog of approximately CNY 1.424 billion for tire sales, excluding mining tire management services [12]. - The company anticipates a potential increase in orders due to ongoing negotiations with several clients, with expected contracts totaling around CNY 2.39 billion [12]. - The company is prepared for potential pressure on profit margins due to increased competition and market supply, but remains optimistic about expanding market share through continuous R&D and operational excellence [13][14].
海安集团(001233) - 2026年1月10日投资者关系活动记录表