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World’s First Autonomous Mining IPO Draws Top-Tier Cornerstone Lineup Including Fidelity, JPMorgan, and Barings

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HONG KONG, June 29, 2026 /PRNewswire/ — EACON Group Co., Ltd. (“EACON”, Stock Code: 07687.HK) launched the global offering of its H-shares today, marking the official start of its Hong Kong listing process. According to an announcement on the HKEX website, EACON plans to offer 26,132,000 shares globally, targeting gross proceeds of approximately HK$2.12 billion to HK$2.30 billion.

As the world’s largest provider of autonomous driving solutions for mining areas, EACON has secured a premium cornerstone investor base for its Hong Kong listing. Eleven institutional investors — Zijin Mining, XCMG, Fidelity International, J.P. Morgan Asset Management (Asia Pacific) Limited, Barings, Indus Funds, Jain Global, REGAL, GF Funds, CDH, and Seven Grand — have committed capital as cornerstone investors, taking total cornerstone subscriptions to the regulatory cap of approximately 50% of the offering. The roster spans global industry leaders, blue-chip international long-term capital, multi-strategy funds and leading Chinese institutional money, a vote of confidence that arrives amid broader market volatility and positions EACON to debut as the world’s first listed autonomous-mining-truck company.

Industry Leaders and Global Asset Managers Anchor the Cornerstone Tranche

EACON is a technology company focused on autonomous driving for mining operations, having built a full-stack L4 autonomous driving system and integrated hardware-and-software solutions purpose-built for heavy-duty mining trucks. Amid intensifying competition to commercialise L4 autonomous driving, EACON has established a clear first-mover and technology advantage that has drawn sustained investor interest from inside and outside the industry.

According to the prospectus, EACON has completed 11 financing rounds since its founding, raising a cumulative RMB 2.059 billion from investors including Zijin Mining and CATL, alongside institutions such as NIO Capital, Eight Roads, Hony Capital and Gaocheng Capital.

Zijin Mining — the world’s third-largest mining company by market capitalisation — first recognised the value of EACON’s technology in 2021, leading the company’s Series B1 round, and added more than RMB 300 million alongside other institutions in 2024. Ahead of EACON’s listing application, CATL invested over RMB 400 million to co-lead its Series D round. In this offering, Zijin returns as a cornerstone investor, with its global resource footprint expected to support EACON’s international expansion. XCMG, a construction-machinery manufacturer consistently ranked among the world’s top three and number one in China, has also come in as a cornerstone investor — underscoring how EACON has become a pivotal connector between mine operators and equipment manufacturers across the value chain.

Beyond industrial-sector backing, EACON has drawn a broad base of global long-term capital, including top-ten international asset managers Fidelity International, J.P. Morgan and Barings; multi-strategy funds Indus Funds, Jain Global and Regal; emerging US manager Seven Grand; and leading Chinese long-term investors GF Funds and CDH. Notably, Regal (ASX: RPL), an Australian asset manager founded in 2004 with a strategy heavily weighted toward resources and mining, is participating as a cornerstone investor in a Hong Kong IPO for the first time in more than two decades — signalling confidence in EACON’s prospects for expansion into the Australian market.

From 30 Mines to a US$7.3 Billion Global Market by 2030

The depth of this cornerstone lineup reflects EACON’s commanding industry position. The company is the first — and currently only — operator to deploy a fleet of more than 2,500 active autonomous mining trucks, giving it a 55.5% share of China’s autonomous mining solutions market by vehicle count in 2025, across coal, metal and non-metal mining sites.

EACON’s solutions are deployed across 30 mines operated by groups including CHN Energy, SPIC and TBEA, covering 19 of the 41 domestic open-pit coal mines with approved annual capacity above 10 million tonnes and 7 of the country’s top 12 large open-pit coal mines by approved capacity. EACON has ranked first by scale in China’s autonomous mining services market for two consecutive years.

As of 31 December 2025, EACON operated 2,580 active autonomous mining trucks, the largest fleet globally. Annual haulage mileage rose from 4.6 million to 61.8 million kilometres, and annual material volume grew from 30.6 million to 308 million cubic metres, while the company maintained a safe operating record for six consecutive years. According to Frost & Sullivan, the global autonomous mining solutions market is projected to grow from approximately US$1 billion in 2025 to US$7.3 billion by 2030, a compound annual growth rate of approximately 47.4%.

As artificial intelligence converges with the physical world, autonomous driving is emerging as a critical link in the physical-AI value chain. Through its scaled deployment of autonomous trucks and digital mining platforms, EACON has built a closed-loop system spanning mining-focused embodied intelligence, physical AI and spatial intelligence — a barrier built on physical data collection, mechanism-based reasoning and global coordination, positioning the company for accelerating near-term automation in open-pit mining and significant medium-to-long-term upside.

As autonomous mining trucks take on work in hazardous environments, the technology is becoming a core driver of the broader shift toward intelligent, large-scale mining operations — enhancing safety while opening the door to commercialisation across the sector. Backed by a deep bench of capital, EACON is positioning itself at the forefront of that transition.

Media Contact: 
16557476@qq.com

View original content:https://www.prnewswire.com/apac/news-releases/worlds-first-autonomous-mining-ipo-draws-top-tier-cornerstone-lineup-including-fidelity-jpmorgan-and-barings-302812896.html

SOURCE EACON Group Co., Ltd

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ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

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2 hours ago

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October 25, 2026

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Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

SOURCE ST Engineering iDirect

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ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

Published

2 hours ago

on

October 25, 2026

By

Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

SOURCE ST Engineering iDirect

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Global Security & Technology Summit Unveils Month-Long Program of Activities Ahead of December Event

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9 hours ago

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October 24, 2026

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RIYADH, Saudi Arabia, Oct. 24, 2026 /PRNewswire/ — The Organizing Committee of the Global Security & Technology Summit (GSTS) held an introductory session today at the Ministry of Interior’s headquarters in Riyadh, bringing together representatives from the government, private, and nonprofit sectors to introduce the program of activities leading up to the summit. The upcoming summit will be held in Riyadh under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, under the supervision of HRH Prince Abdulaziz bin Saud bin Naif bin Abdulaziz Al Saud, Minister of Interior, and organized by the Ministry of Interior in cooperation with Tuwaiq Academy.

During the session, the Organizing Committee presented the comprehensive GSTS program, comprising three key components: GSTS Month, running from November 1 to 30, 2026; the Global Security & Innovation Fair (SAIF), taking place from November 24 to 26, 2026; and the main Summit, scheduled for December 18 to 20, 2026, in Riyadh. Together, these events form an integrated program designed to advance security and technology innovation, strengthen national capabilities, and foster international cooperation.

GSTS Month will feature working groups, boot camps, training programs, knowledge-sharing sessions, and technical workshops across Saudi Arabia’s 13 administrative regions, delivered both in person and remotely in collaboration with specialized entities. The month-long program aims to develop national capabilities, identify emerging talent, enrich knowledge-sharing opportunities, and equip professionals with the knowledge and skills needed to develop innovative solutions to future security and technology challenges.

The main Summit will bring together global leaders, decision-makers, experts, and innovators to explore the future of security and technology, promote the integration of advanced technologies within the security sector, strengthen national capabilities, support innovation, and foster international cooperation, further positioning the Kingdom as a global hub for security and technology.

Showcasing the latest technological breakthroughs and security solutions, the summit will bring together government entities, private sector organizations, academic institutions, and research centers to facilitate knowledge exchange and collaboration across key fields, including cybersecurity, artificial intelligence (AI), the Internet of Things (IoT), smart security solutions, emerging technologies, and crisis management. The program will also feature main sessions, specialized discussions, and interactive exhibitions. Registration is available at gsts.sa.

Advisor to HRH the Minister of Interior and Chairman of the GSTS Organizing Committee, Ahmed Altowayan, stated that the summit builds on Saudi Arabia’s efforts to establish an advanced security and technology ecosystem focused on knowledge and innovation, keeping pace with rapid developments and future challenges.

Mr. Altowayan noted that the summit is a global platform for strengthening cooperation and exchanging expertise, anticipating future developments in security and technology, and developing strategic partnerships and innovative solutions that enhance the efficiency and readiness of security systems.

Vice Chairman of the GSTS Organizing Committee, Eng. Abdulaziz Alhammadi, said that the summit will offer a range of integrated programs and activities focused on enhancing national skills, encouraging innovation, and supporting international cooperation.

He added that GSTS Month will help build national capabilities, discover talent, and develop skills, with SAIF providing a platform for innovators and researchers from around the world to showcase leading technological solutions, while the main Summit will bring together leaders and experts to discuss the future of security and technology and explore new strategic partnership opportunities.

SAIF will take place at the Riyadh International Convention & Exhibition Center, bringing together innovators, researchers, technology talents, and industry experts from around the world to showcase promising innovations and projects across 14 fields of technology and innovation. The fair will provide opportunities to engage with project owners, including students, graduates, and entrepreneurs, and explore the different stages of innovation development through interactive zones, panel discussions on emerging security and innovation trends, and knowledge-sharing workshops led by specialists. Visitor registration is open to participants from within and outside the Kingdom through saifair.sa.

The introductory session also featured contributions from representatives of government, private, and nonprofit sector entities, alongside members of the media. Discussions focused on developing national capabilities in security and technology, strengthening students’ technical expertise, translating scientific research into practical solutions, and supporting Saudi companies in developing security and technology solutions and advancing digital transformation.

Organized by the Ministry of Interior in cooperation with Tuwaiq Academy, GSTS is produced by Tahaluf, with the Ministry of Education serving as Strategic Scientific Partner, Tahakom as Founding Partner, and Elm as Principal Partner.

Registration for participants from within and outside the Kingdom is available at gsts.sa.

Click here to view the media kit. 

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/global-security–technology-summit-unveils-month-long-program-of-activities-ahead-of-december-event-302918695.html

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