Shandong Mining Machinery Co., Ltd. (hereinafter referred to as "the Company") is a main board listed company on the Shenzhen Stock Exchange. To meet the capital needs for the Company's business development, enhance its capital strength, and improve its profitability, in accordance with the "Company Law of the People's Republic of China" (hereinafter referred to as the "Company Law"), the "Securities Law of the People's Republic of China" (hereinafter referred to as the "Securities Law"), the "Administrative Measures for the Registration of Securities Issuance by Listed Companies" (hereinafter referred to as the "Registration Measures"), and the "Guiding Opinions on the Application of Securities and Futures Laws and Regulations" (hereinafter referred to as the "Guiding Opinions on Securities and Futures Laws and Regulations") No. 18, and other relevant laws, regulations, and normative documents, the Company plans to issue shares to specific objects, with the total amount of funds raised not exceeding RMB 30,000,000,000 (inclusive), which will be used to supplement working capital after deducting issuance expenses.
(Unless otherwise specified in this report, the terms used herein have the same meaning as in the "Shandong Mining Machinery Co., Ltd. 2024 Plan for Issuance of A Shares to Specific Objects (Revised Draft)")
I. Background and Purpose of the Current Issuance
(I) Background of the Current Issuance
- Coal Industry Supply Reaches New Highs, Competition in Mining Machinery Industry Intensifies
In 2023, China's GDP grew by 5.2%, and the economy generally improved. The sustained positive economic development boosted moderate growth in coal demand, reaching a new record high in total coal supply nationwide. National raw coal output reached 4.71 billion tons, a year-on-year increase of 3.4%. The annual coal consumption increased by 5.6%, and coal remains an irreplaceable primary energy source in China. The coal machinery industry, as a manufacturer of coal mining equipment, provides technical equipment for the healthy and sustainable development of the coal industry. With the continuous deepening of supply-side reform in the coal machinery industry and the acceleration of transformation and upgrading, intelligence and automation are becoming the mainstream. The industry is paying more attention to technological innovation and product upgrades.
During the reporting period, industry innovation and development continued to advance, and the industrial structure continued to be optimized. As the competition in the coal machinery industry becomes increasingly fierce, the coal machinery manufacturing industry will adhere to the direction of innovation-driven development, intelligent transformation, strengthening the foundation, and green development. It will deeply promote the integration and application of modern information technologies such as big data, artificial intelligence, and the Internet of Things in industry products, enhance the product competitiveness of enterprises, and empower the development of enterprises and the industry.
- The Conveying Machinery Market Continues to Develop, with Active Overseas Exports
Chinese energy, port, chemical, and other enterprises have significant demand for technological upgrades and new construction of material conveying systems. Sales in the conveying machinery industry are expected to maintain steady growth.