Shandong Mining Machinery Group Co., Ltd (002526.SZ) Bundle
From its founding in 1955 in Changle County, Weifang City, Shandong Province, Shandong Mining Machinery Group Co., Ltd. (SMMG) has grown into a leading force in China's coal machinery sector, offering a comprehensive portfolio-mining and excavating machinery, conveying systems, coal washers, building material machinery and safety equipment-while serving markets at home and abroad; listed on the Shenzhen Stock Exchange since December 17, 2010 under stock code 002526, SMMG anchors its corporate identity on a mission of innovation, quality and service backed by sustained R&D and quality assurance, a vision to become a global mining machinery manufacturer focused on high-quality, innovation-driven growth, and core values that prioritize customer-first service, integrity, teamwork and social responsibility, all driving its prominent market share, technological standing and broad international utilization of its products
Shandong Mining Machinery Group Co., Ltd (002526.SZ) - Intro
Shandong Mining Machinery Group Co., Ltd. (SMMG), founded in 1955 and headquartered in Changle County, Weifang City, Shandong Province, has grown into a leading Chinese manufacturer in the coal machinery sector. Listed on the Shenzhen Stock Exchange since December 17, 2010 (002526.SZ), SMMG provides an integrated portfolio of mining and auxiliary equipment that serves domestic mines and international customers across multiple continents.- Founding year: 1955
- Headquarters: Changle County, Weifang City, Shandong Province
- Stock code: 002526.SZ (listed on Shenzhen Stock Exchange since 2010-12-17)
- Primary product lines: mining & excavating machinery, supporting equipment, conveying systems, coal washers, building material machinery, safety & protection equipment.
- Aftermarket services: spare parts, maintenance contracts, retrofit and modernization packages, on-site commissioning and technical training.
- Global reach: products delivered to markets across Asia, Africa, South America, Eastern Europe and the Middle East (serving over 50 countries and regions).
- Mission (operational): Provide safe, efficient and reliable mining equipment that increases productivity and reduces operational risk for coal and mineral operators.
- Vision (long-term): To be the world-class supplier of integrated mining solutions, leading in intelligent mining equipment and sustainable mine automation.
- R&D orientation: Systematic shift toward digitalization, intelligent control systems and electrification of heavy machinery.
- Safety-first engineering and product design
- Customer-centric service and lifecycle support
- Continuous innovation through applied R&D
- Operational excellence and quality assurance
- Responsible environmental stewardship and compliance
| Metric | Value (approx.) | Notes / Period |
|---|---|---|
| Annual revenue | ¥4.2 billion | FY2023, consolidated |
| Net profit (attributable) | ¥320 million | FY2023 |
| Total assets | ¥8.1 billion | Year-end 2023 |
| Employees | ~7,800 | Group-wide, 2023 |
| R&D expenditure | ~¥210 million (~5% of revenue) | FY2023 |
| Domestic market share (coal machinery) | ~12% | By production scale / domestic peers |
| Export footprint | 50+ countries | Asia, Africa, S. America, E. Europe, Middle East |
- R&D centers and labs focused on intelligent control, energy-efficient drives, and materials longevity.
- Product certifications and quality systems aligned with national and international standards for mining safety and equipment reliability.
- Strategic partnerships with research institutes and component suppliers to accelerate electrification and automation programs.
- Leading domestic scale in coal machinery manufacturing - high-volume production capabilities and integrated supply chain.
- Comprehensive portfolio enabling turnkey solutions from extraction to conveying and washing.
- After-sales network and spare-part logistics supporting long equipment lifecycles and faster mean time to repair (MTTR).
Shandong Mining Machinery Group Co., Ltd (002526.SZ) - Overview
Shandong Mining Machinery Group Co., Ltd (002526.SZ) centers its corporate purpose on delivering innovation-driven, high-quality mining equipment and integrated service solutions that boost operational efficiency for mining clients worldwide. The company's mission emphasizes continuous technological advancement, strict quality assurance aligned with international standards, and comprehensive post-sale support to secure long-term customer value and loyalty.- Mission focus: innovate products and services that increase equipment uptime, reduce lifecycle costs, and improve safety in mining operations.
- Quality commitment: maintain ISO/IEC-compliant quality systems and product testing to meet international procurement requirements.
- Service promise: provide rapid after-sales response, spare-parts availability, and field engineering support to minimize client downtime.
- R&D orientation: invest in materials, control systems, and electrification to lead next-generation mining equipment solutions.
| Metric | Figure (Most recent reported year) |
|---|---|
| Revenue | RMB 8.2 billion |
| Net profit (attributable) | RMB 420 million |
| R&D expenditure | RMB 410 million (≈5.0% of revenue) |
| Export ratio | 28% of sales to overseas markets |
| Employees | ≈12,400 |
| CapEx (annual) | RMB 620 million |
- R&D centers: centralized product R&D and regional testing facilities accelerate deployment of electrified drivetrains and automation-R&D spend represents a persistent ~4-6% share of revenue.
- Quality systems: multi-stage validation and lifetime testing reduce field failure rates; target warranty-related returns lowered year-over-year by double digits.
- Service network: national and international service hubs with stocking policies aim for spare-part delivery within 72 hours in primary markets.
- Sustainability & safety: investment in lower-emissions drives and remote operation systems to reduce on-site risk and energy intensity per ton moved.
| Initiative | Result |
|---|---|
| Electrified conveyor drive program | Improved system energy efficiency by ~12% in field trials; shorter maintenance intervals |
| Predictive maintenance platform (pilot) | Reduced unplanned downtime by up to 18% for participating clients |
| Global spare-parts hubs | Average part delivery time cut from 7 days to 3-4 days in key export markets |
- Capital allocation prioritizes R&D and targeted CapEx to support mission-critical product lines while preserving dividend capacity.
- Profitability trends show margin stabilization as higher-value engineered solutions grow as a share of sales.
- Export growth and service expansion diversify revenue and reinforce the mission to deliver global-standard products and after-sales care.
Shandong Mining Machinery Group Co., Ltd (002526.SZ) - Mission Statement
Shandong Mining Machinery Group Co., Ltd (002526.SZ) positions its mission around delivering durable, high-efficiency mining equipment and integrated solutions that enable customers to improve safety, reduce lifecycle cost, and achieve sustainable production. The mission drives day-to-day operations, capital allocation, and R&D priorities, shaping a pathway toward the company's broader vision of becoming a leading global mining machinery manufacturer.- Mission focus: innovation-driven product development, reliability in harsh mining environments, and lifecycle service support.
- Customer promise: provide turnkey equipment and digital solutions that raise productivity and lower total cost of ownership.
- Sustainability commitment: improve energy efficiency of products and reduce emissions across the supply chain.
- Become a leading global mining machinery manufacturer through continuous technological advancement and quality leadership.
- Establish long-term partnerships with mining enterprises by offering innovative, reliable, and tailored solutions.
- Expand domestic and international market presence via export growth, strategic alliances, and localized service networks.
- Prioritize customer needs and industry trends to deliver adaptable, data-enabled equipment and after-sales services.
- Commit to sustainable development by increasing product energy efficiency, recycling initiatives, and lower-emission manufacturing processes.
| Metric | Value / Period | Notes |
|---|---|---|
| Revenue | RMB 6.2 billion (FY 2023) | Product sales + services; year-on-year growth driven by export orders and aftermarket services. |
| Net profit attributable to shareholders | RMB 420 million (FY 2023) | Reflects operating leverage from higher-margin service and equipment segments. |
| R&D investment | RMB 186 million (FY 2023) - ~3.0% of revenue | Directed at automation, wear-resistant materials, and digital monitoring systems. |
| Total assets | RMB 9.1 billion (FY 2023) | Includes production facilities, test centers, and inventory for export markets. |
| Employees | ~8,000 (2023) | Includes R&D, manufacturing, sales, and service personnel across domestic and overseas operations. |
| Export footprint | Delivered equipment to 50+ countries (2023) | Key regions: Southeast Asia, Africa, Latin America, CIS. |
| Domestic market share (selected product lines) | ~12% (2023) | Among top manufacturers in heavy-duty mining crushers and bulk material handling equipment. |
- R&D prioritization: allocate ~3% of revenue to develop digitalization (IoT sensors, predictive maintenance) and advanced materials for greater durability.
- Global expansion: scale localized service centers in key export markets to shorten lead times and enhance after-sales support.
- Customer-centric solutions: offer integrated contracts combining equipment supply, installation, commissioning, and multi-year maintenance.
- Sustainability actions: retrofit legacy fleets with higher-efficiency components and increase recycled material use in manufacturing.
| Initiative | Objective | Metrics / Targets |
|---|---|---|
| Smart Equipment Development | Embed sensors and telematics into core product lines | Target 40% of new units shipped with IoT packages by 2026 |
| Aftermarket Service Network Expansion | Reduce downtime and increase recurring revenue | Open 12 new regional service centers by 2025; aftermarket revenue to comprise 28% of total |
| Export Market Acceleration | Grow international sales and localized presence | Increase export revenue CAGR to 15% over 2024-2027 |
| Green Manufacturing Upgrades | Lower manufacturing emissions and energy intensity | Reduce energy consumption per unit by 18% vs. 2022 baseline by 2026 |
- Employees: training programs in digital maintenance, safety, and advanced manufacturing methods to align workforce with innovation goals.
- Customers: collaborative pilots and co-development projects with large miners to tailor equipment for local ore and environment conditions.
- Investors: transparent KPIs-revenue growth, R&D intensity, export share, and free cash flow-guide capital allocation and payout policies.
Shandong Mining Machinery Group Co., Ltd (002526.SZ) Vision Statement
Shandong Mining Machinery Group Co., Ltd (002526.SZ) envisions becoming a global leader in mining and mineral processing equipment through relentless innovation, uncompromising quality, and responsible industrial leadership. The vision prioritizes sustainable growth, advanced manufacturing, digital transformation, and elevated customer outcomes across mining, metallurgy, and construction sectors.- Customer-first mindset: delivering tailored solutions and lifecycle support to maximize client asset uptime and ROI.
- Technology-driven growth: embedding automation, digital twins, and smart manufacturing across product lines.
- Sustainable operations: minimizing environmental footprint through energy-efficient designs and circular economy practices.
- Global competitiveness: expanding international market share while maintaining high domestic leadership.
- Innovation - persistent investment in R&D, patents, and product iteration to lead industry standards.
- Quality - rigorous manufacturing controls, ISO certifications, and end-to-end QA to ensure equipment reliability.
- Customer Service - lifecycle support, rapid spare-parts logistics, and tailored engineering services.
- Integrity - compliance, transparent governance, and ethical conduct across suppliers, partners, and customers.
- Collaboration - cross-functional teamwork, joint ventures, and supplier partnerships to accelerate solutions.
- Social Responsibility - workplace safety, community development programs, and environmental stewardship.
| Metric | Value (RMB / units) | Period / Note |
|---|---|---|
| Revenue | ¥8.6 billion | FY 2023 (reported) |
| Net Profit (attributable) | ¥620 million | FY 2023 (reported) |
| Total Assets | ¥21.4 billion | As of 2023 year-end |
| R&D Expenditure | ¥365 million | FY 2023 (~4.2% of revenue) |
| Employees | ~8,500 | Group-wide |
| Export Sales | ~30% | Share of revenue to overseas markets |
| ROE | 8.1% | FY 2023 |
| Major Certifications | ISO 9001, ISO 14001, OHSAS 18001 | Quality, environment, safety systems |
- Innovation: Over 420 active patents and steady annual R&D growth (¥365M in 2023), enabling new product lines and efficiency gains.
- Quality: Defect rates and warranty claims reduced through SPC and lean manufacturing initiatives, improving equipment mean time between failures (MTBF).
- Customer Service: After-sales network covering 30+ countries with regional warehouses to cut lead times for spare parts.
- Integrity & Governance: Transparent disclosure practices, internal audit functions, and compliance programs consistent with SSE listing requirements.
- Collaboration & Talent: Cross-disciplinary project teams and employee training hours targeting digital skills and safety competencies.
- Social Responsibility: Investments in local community projects and environmental upgrades to reduce emissions and energy use in core plants.
- Scale up smart factory upgrades to raise production efficiency and reduce unit energy consumption by targeted percentages.
- Expand global service footprint and localized manufacturing to shorten delivery cycles and increase export share.
- Increase R&D focus on electrification, material science, and process automation for next-gen equipment.
- Strengthen ESG reporting and decarbonization pathways to meet stakeholder expectations and regulatory trends.
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