北方股份

Beifang/Inner Mongolia North Hauler is China's only large-scale producer of mining off-highway dump trucks (>100-ton) — direct competition with Caterpillar/Komatsu/BelAZ. State-owned (国机集团) with autonomous mining truck integration. Critical for coal/iron ore mine logistics. Small cap (40 亿), low coverage, technical depth. Real Serenity-style chokepoint with mining capex cycle catalyst.