Core Viewpoint - Jerry Holdings is actively adjusting its overseas business layout, including the sale of its subsidiary Guangming Energy, to enhance its global market presence and operational efficiency [1][2]. Group 1: Business Performance - In the first half of 2025, Jerry Holdings achieved overseas market revenue of 3.295 billion yuan, a year-on-year increase of 38.38%, with new overseas orders growing by 24.16% [2]. - For the first three quarters of 2025, the company reported total revenue of 10.42 billion yuan, up 29.49% year-on-year, and a net profit attributable to shareholders of 1.808 billion yuan, an increase of 13.11% [4][5]. - The third quarter of 2025 saw revenue of 351.9 million yuan, reflecting a 13.9% increase, and a net profit of 56.7 million yuan, up 11.11% year-on-year [5]. Group 2: Strategic Adjustments - The sale of Guangming Energy, established in 2017 as a platform for entering the Russian market, indicates a strategic reassessment of overseas operations [2]. - Jerry Holdings has expanded its business across over 70 countries, with a growing proportion of revenue coming from international markets [2]. Group 3: Sector Collaboration and Growth - The company operates in four main sectors: high-end equipment manufacturing, oil and gas technology services, new energy, and environmental protection, leveraging synergies among these sectors to drive growth [3]. - In the first half of 2025, the natural gas-related business saw a revenue increase of 112.69%, with new orders growing by 43.28%, highlighting its significance in the company's overall performance [3]. - The new energy and recycling business segment achieved revenue of 328 million yuan, a 65.74% increase year-on-year, marking it as a new growth point for the company [3].

Summary of Key Points from Conference Call Records Industry Overview - The North American power supply is facing shortages primarily due to an aging electrical grid and increased power demand driven by the rapid growth of data centers since the launch of ChatGPT 4.0 in November 2022. This has led to a significant rise in energy requirements, particularly for continuous power supply in data centers [2][4]. Key Companies and Their Performance Caterpillar - Caterpillar reported optimistic performance with a third-quarter revenue exceeding expectations, driven by an 18% growth in its energy and transportation segment, and a 26% increase in North America. The company plans to expand its gas turbine and diesel engine production capacity by 2.5 times and 2 times, respectively, by 2030, indicating sustained demand in North America [5]. Longyuan Donggu - Longyuan Donggu, a supplier of engine components, is expected to benefit from strong heavy truck sales and expansion into passenger vehicle markets. The company anticipates a compound annual growth rate (CAGR) exceeding 30% over the next 3-5 years, with an attractive valuation [2][23]. Caterpillar's Supplier - Linde - Linde, a key supplier for Caterpillar, is projected to achieve revenues of 250 million yuan in 2025, with a compound annual growth rate of over 30% expected as it capitalizes on new orders related to gas turbines and diesel engines [6][7]. KOTAI - KOTAI is the only OEM capable of exporting diesel generators to Europe and North America. The company has secured 70 orders in North America and expects to deliver around 500 units by 2026, significantly enhancing its profitability due to high margins in the European market [8][9][10]. Yinglian Co. - Yinglian Co., a leading supplier of gas turbine blades, is positioned to benefit from the tight demand in the North American market, presenting long-term investment value despite its current valuation not being fully recognized [14]. Jerry Holdings - Jerry Holdings has established a systematic presence in the North American power generation sector, generating revenue from gas turbine projects. The company expects sales of $70 million to $80 million in 2025 and aims to expand its leasing scale in North America [16][21]. Market Dynamics - The gas industry has entered a price increase cycle since 2021, primarily due to reduced turbine blade casting capacity during the pandemic, which has not yet recovered. This has led to delivery issues for aircraft engines, benefiting companies like Yingliu, which supplies components for GE's LEAP series engines [12][13]. Future Growth Potential - Jerry Holdings is expected to see significant growth in its gas turbine business, with projections of over 50% CAGR in the next 3-4 years. The company’s new orders have reached a historical high, and it is well-positioned for future expansion in both domestic and international markets [19][22]. Conclusion - The North American energy sector is experiencing a shift due to increased demand from data centers, leading to growth opportunities for companies involved in gas turbines and diesel engines. Key players like Caterpillar, KOTAI, and Jerry Holdings are well-positioned to capitalize on these trends, with strong growth forecasts and strategic expansions planned for the coming years [1][2][5][19].

Core Insights - On November 10, the Shanghai Composite Index rose by 0.53%, with institutional investors appearing on the trading lists of 29 stocks, net buying 12 and net selling 17 [1][2]. Institutional Trading Summary - The stock with the highest net buying by institutional seats was Wanrun Technology, which closed at the daily limit with a turnover rate of 18.51% and a transaction amount of 2.604 billion. The net buying amounted to 131.24 million from institutional seats, with a total net inflow of 501 million [2][5]. - Tianji Shares also closed at the daily limit, with a turnover rate of 18.26% and a transaction amount of 3.618 billion. Institutional seats net bought 122.17 million, with a total net inflow of 299 million [2][5]. - On the other hand, Liangxin Shares closed at the daily limit down, with a turnover rate of 17.66% and a transaction amount of 1.936 billion. Institutional seats net bought 55.67 million, but the total net outflow was 282 million [3][5]. Market Performance - The average increase of stocks with net institutional buying was 6.94%, outperforming the Shanghai Composite Index. Strong performers included Huasheng Lithium and Online & Offline, both closing at the daily limit [3][4]. - A backtest of stocks with net institutional buying over the past month showed a 54.95% probability of rising the next day, with a 53.58% chance of outperforming the index [3][4]. Net Selling Summary - The stock with the highest net selling by institutions was Xinquan Shares, which saw a net outflow of 332.63 million, with institutional seats net selling 332.63 million [3][5]. - Zhejiang Rongtai also experienced significant net selling, with a total net outflow of 337 million, despite some net buying from the Shanghai-Hong Kong Stock Connect [4][8]. Stock Connect Activity - On November 10, 19 stocks on the trading list had participation from the Shanghai-Hong Kong Stock Connect, with net buying in stocks like Jiugui Liquor and Zhejiang Rongtai, amounting to 137.41 million and 81.24 million respectively [7][8].

Core Insights - Jerry Holdings experienced a significant decline of 7.46% in stock price, with a trading volume of 1.425 billion yuan and a turnover rate of 3.96% [2] - Institutional investors net sold 139 million yuan, while the Shenzhen Stock Connect saw a net purchase of approximately 29.37 million yuan [2] - The stock was flagged by the Shenzhen Stock Exchange due to a price deviation of -7.86% [2] Trading Activity - The top five trading departments had a combined transaction volume of 676 million yuan, with buying totaling 294 million yuan and selling at 383 million yuan, resulting in a net sell of approximately 89.16 million yuan [2] - Seven institutional special seats were involved in trading, with total buying amounting to 80.16 million yuan and selling at 219 million yuan, leading to a net sell of 139 million yuan [2] - The Shenzhen Stock Connect was the largest buying and selling department, with buying at 187 million yuan and selling at 157 million yuan, resulting in a net purchase of 29.37 million yuan [2] Capital Flow - The stock saw a net inflow of 3.95 million yuan from major funds, with large orders experiencing a net outflow of 35.38 million yuan and large fund inflows of 39.33 million yuan [2] - Over the past five days, the net inflow of major funds was approximately 1.07 million yuan [2] Margin Trading Data - As of November 7, the margin trading balance for the stock was 316 million yuan, with a financing balance of 296 million yuan and a securities lending balance of approximately 2.04 million yuan [3] - Over the past five days, the financing balance decreased by 1.13 million yuan, a decline of 3.68%, while the securities lending balance increased by 653.32 thousand yuan, an increase of 47.24% [3]

Core Viewpoint - Jerry Holdings (002353.SZ) announced the plan to sell 100% equity of its wholly-owned subsidiary, Svet Energiya LLC, for a transaction price not exceeding 1 billion RMB or equivalent foreign currency [1] Group 1 - The sale involves Jerry Energy Services Co., Ltd., a wholly-owned subsidiary of Jerry Holdings [1] - The board of directors has authorized the chairman to handle all matters related to this transaction [1]

Market Overview - On November 10, the trading volume of the Shanghai and Shenzhen stock markets reached 2.17 trillion yuan, an increase of 175.4 billion yuan compared to the previous trading day [1] - Sectors such as consumer goods, fluorine chemicals, lithium batteries, and cultivated diamonds saw significant gains, while shipbuilding and robotics sectors experienced declines [1] Stock Performance - Notable stocks included *ST Dongyi, which rose by 5.02% to 15.26 yuan, and ST Zhongtong, which increased by 4.97% to 9.71 yuan, both benefiting from restructuring and real estate developments [2] - Moen Electric surged by 10.03% to 11.41 yuan, driven by developments in power grid equipment and a production base in Thailand [2] - Yingxin Development saw a 10.13% increase to 3.48 yuan, linked to a proposed acquisition in the semiconductor sector [2] Trading Dynamics - The top three net purchases on the daily leaderboard were Wanrun Technology, Yingxin Development, and Jiugui Liquor, with net purchases of 195 million yuan, 172 million yuan, and 150 million yuan, respectively [5] - Conversely, the top three net sales were Xinquan Co., Haima Automobile, and Geer Software, with net sales of 361 million yuan, 195 million yuan, and 173 million yuan, respectively [6] Sector Insights - Wanrun Technology reported a significant revenue increase of 444.58% year-on-year, with a focus on storage chips and LED lighting [9] - Tianji Co. is experiencing a surge in demand for lithium hexafluorophosphate, with Q3 shipments exceeding 10,000 tons and plans for production ramp-up [12] - Newquan Co. faced a decline in net profit by 9.19% year-on-year, attributed to the downturn in Tesla-related stocks and a lack of immediate catalysts [16] Institutional Activity - Institutional net purchases were led by Wanrun Technology, Tianji Co., and Yingxin Development, with net purchases of 131 million yuan, 122 million yuan, and 55.67 million yuan, respectively [7] - The largest net sales by institutional investors were recorded for Xinquan Co., Zhejiang Rongtai, and Jerey Co., totaling 333 million yuan, 282 million yuan, and 139 million yuan, respectively [8]

2025年1至6月份，杰瑞股份的营业收入构成为：油气行业占比95.24%，新能源及再生行业占比4.76%。 每经AI快讯，杰瑞股份（SZ 002353，收盘价：51.22元）11月10日晚间发布公告称，公司于2025年11月 10日召开第六届董事会第二十八次会议审议通过了《关于拟出售子公司股权的议案》，公司全资子公司 杰瑞能服拟出售其全资子公司光明能源的100%股权，交易方式包括但不限于公开招标、公开竞价、询 比价、议价谈判等，交易对方、交易价格尚不确定，以最终结果为准。本次交易完成后，公司不再持有 光明能源股权，光明能源将不再纳入公司合并报表的范围。 每经头条（nbdtoutiao）——进博会"爆品"来袭！德国"天价"扳手引围观，阿根廷牛儿为中国"贴膘"，卢 旺达咖啡豆火出圈…… （记者 曾健辉） 截至发稿，杰瑞股份市值为524亿元。 ...

特别提示： 1、烟台杰瑞石油服务集团股份有限公司（以下简称"公司"或"杰瑞股份"）于 2025 年 11 月 10 日召开第六届董事会第二十八次会议审议通过了《关于拟出售子公司股权的议 案》，公司全资子公司杰瑞能源服务有限公司（以下简称"杰瑞能服"）拟出售其全资子公 司Общества с ограниченной ответственностью Свет Энергия（光明能源有限公司，以下简称"光明能源"）的 100%股权。在 交易价格不超过 10 亿元人民币或等值外币的前提下，公司董事会授权董事长全权处理本次 交易相关事宜。 2、本次交易不构成《上市公司重大资产重组管理办法》规定的重大资产重组，亦不构 成关联交易。 证券代码：002353 证券简称：杰瑞股份 公告编号：2025-080 烟台杰瑞石油服务集团股份有限公司 关于拟出售子公司股权的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 3、本次交易的交易对方、交易价格、交易时间、交易方式等存在不确定性。 4、本次交易对公司财务状况和经营成果的具体影响以会计师事务所出具的审计报告为 准。 ...

一、审议并通过《关于拟出售子公司股权的议案》 表决情况：9 票同意，0 票反对，0 票弃权。 董事会同意公司全资子公司杰瑞能源服务有限公司拟出售其全资子公司О бщества с ограниченной ответственнос тью Свет Энергия（光明能源有限公司）的 100%股权。 为把握交易良机、提升决策效率，在交易价格不超过 10 亿元人民币或等值 外币的前提下，公司董事会授权董事长全权处理本次交易相关事宜。具体授权范 围包括但不限于：制定及调整交易方案、签署相关协议、办理资产过户等事项。 若交易价格超出上述限额，则需另行提交董事会审议决定。 议案内容请见巨潮资讯网（http://www.cninfo.com.cn）。 特此公告。 证券代码：002353 证券简称：杰瑞股份 公告编号：2025-079 烟台杰瑞石油服务集团股份有限公司 第六届董事会第二十九次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 2025 年 11 月 10 日，烟台杰瑞石油服务集团股份有限公司（以下简称"公 司"）第六届董事会第二十九次会议在公 ...

Group 1 - Jerry Holdings experienced a decline of 7.46% today [1] - The trading volume reached 1.425 billion yuan with a turnover rate of 3.96% [1] - After-hours trading data shows that the Shenzhen Stock Connect special seat bought 187 million yuan and sold 157 million yuan [1] Group 2 - Three institutional special seats had a net purchase of 80.1624 million yuan [1] - Four institutional special seats had a net sale of 219 million yuan [1]