Chinese listed mining equipment firms report robust overseas growth in half-year results

The half-year reporting season for A-share listed companies has drawn to a close, revealing mixed operating performance among domestic mining equipment manufacturers. High-end equipment producers register rising turnover and profits alongside improving operational quality. Businesses focused on general-purpose products such as sand and gravel processing plant and conventional conveying machinery face revenue and profit pressure, hit by subdued downstream demand and homogenised price competition across the market. Manufacturers producing wear-resistant spare parts, crushing and screening gear generally achieve higher turnover, though sustained research spending, expanded channel networks and preparatory work for long-term projects create temporary cost burdens and cap profit growth for some operators.

Overseas divisions deliver standout results in the first six months of the year. Shantui Construction Machinery Co., Ltd posts steady growth for the period, recording operating revenue of 8.28 billion yuan, an increase of 18.19 per cent year on year, and attributable net profit of 681 million yuan, up 19.03 per cent.CITIC Heavy Industries Co., Ltd demonstrates resilient core operations in the same timeframe. Its operating revenue reaches 4.025 billion yuan, rising 1.11 per cent year on year, with attributable net profit of 209 million yuan, a 2.95 per cent annual increase. Net cash flow generated from operating activities stands at 654 million yuan, returning to positive territory after a negative reading in the equivalent period last year.

Multiple listed groups highlight strong overseas performance in their half-year filings. Global metal mineral prices remain elevated, encouraging major international mining operators to lift capital expenditure. Coupled with the cost-performance strengths of Chinese mining machinery, domestic equipment builders accelerate global expansion, securing higher overseas turnover and new orders.

Jiangxi Naipu Mining Machinery Co., Ltd makes notable headway with its international strategy. Overseas revenue for the first half hits 290 million yuan, climbing 27.96 per cent year on year, outpacing the 11.16 per cent growth recorded in its domestic market. Overseas sales now account for 58.34 per cent of total revenue, a 3.46 percentage point rise compared with the same period a year earlier.

Nanchang Mineral Systems Co., Ltd also sees rapid overseas business expansion. New overseas orders secured during the six-month period reach 142 million yuan, surging 65.64 per cent year on year and outperforming all other business segments. The firm continues to advance its global strategy, building a multi-region, full-coverage overseas commercial framework. It consolidates mature markets for sand and gravel equipment in the Americas while targeting high-value metal mine projects elsewhere, and builds overseas warehousing and local maintenance networks.

Domestic demand shows structural recovery. Large-scale intelligent upgrading and renovation of coal mines, plus replacement of ageing installations, underpin steady requirement for traditional coal mining machinery. Sustained high prices for copper, gold and other non-ferrous metals lift mining and mineral processing activity, driving demand for extraction, concentration and core spare parts. Procurement preferences among domestic mine operators grow more refined and high-end. Inefficient, energy-intensive and unsafe legacy equipment gradually exits the market, while energy-saving, intelligent, stable new mining machinery becomes the preferred purchase choice. This trend pushes low-end capacity out of the sector and opens up market space for leading enterprises.

Product innovation forms a central competitive lever for equipment suppliers. For instance, forged composite liners developed by Jiangxi Naipu Mining Machinery deliver superior wear resistance in on-site mine trials compared with conventional cast steel alternatives, unlocking fresh demand for mill shell spare parts. Orders for the product expand throughout the reporting period, and work continues to refine material formulations and manufacturing techniques to preserve technical advantages.

Product iteration and intelligent upgrading underpin market capture. Nanchang Mineral Systems directs research and development towards three core streams to upgrade its offerings and services. It carries out intelligent upgrades for main machinery, refining smart cone crushers to suit demanding metal mine operating environments and broaden application scenarios. The firm fills gaps in mineral processing hardware by launching new items including ceramic slurry pumps, expanding its full-process mineral processing portfolio and boosting integrated service capacity. It also invests in digital mining technologies such as intelligent operation platforms, digital twins and predictive maintenance to support smarter, more efficient mine operation.

Global capital spending by overseas miners will stay elevated while copper and gold prices hold firm, sustaining investment in mine capacity expansion. Within China, mines enter a concentrated cycle of equipment replacement, alongside ongoing policy roll-out for intelligent transformation. New and replacement demand for mining machinery will keep releasing over coming periods.