Investment Rating - The report maintains a "Buy" rating for the company, with an adjusted target price of 51.17 RMB, up from a previous value of 41.58 RMB, reflecting a 17 times PE for 2025 [5][7]. Core Insights - The company reported a revenue of 6.901 billion RMB for H1 2025, representing a year-over-year increase of 39.21%, with a net profit of 1.241 billion RMB, up 14.04% year-over-year [1]. - The natural gas business has shown significant growth, with a revenue increase of 112.69% year-over-year, indicating a strong second growth curve for the company [1]. - The company has secured new orders worth 9.881 billion RMB in H1 2025, a 37.65% increase year-over-year, supporting future performance [3]. Summary by Sections Revenue and Profitability - In H1 2025, the company achieved a revenue of 6.901 billion RMB, with a net profit of 1.241 billion RMB, and a non-recurring net profit of 1.231 billion RMB, reflecting increases of 39.21%, 14.04%, and 33.90% respectively [1]. - The overall gross margin decreased to 32.19%, down 3.40 percentage points year-over-year, primarily due to a lower proportion of high-margin high-end equipment business [2]. Order Growth and Market Expansion - The company’s new orders reached 9.881 billion RMB in H1 2025, marking a 37.65% increase year-over-year, with total backlog orders at 12.386 billion RMB, up 34.76% [3]. - The overseas revenue for H1 2025 was 3.295 billion RMB, a 38.38% increase year-over-year, indicating successful global expansion [4]. Financial Forecast and Valuation - The forecast for net profit for 2025-2027 has been adjusted upwards by 1.56%, 5.49%, and 5.25% to 3.086 billion RMB, 3.731 billion RMB, and 4.341 billion RMB respectively, with a CAGR of 18.59% [5]. - The report suggests a valuation premium based on the growth potential of the natural gas business, leading to an increased target price [5].

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Insights - The company reported a significant increase in Q2 non-net profit, which grew by 37% year-on-year, indicating that the performance inflection point has been reached [2] - In the first half of 2025, the company achieved total revenue of 6.9 billion yuan, a year-on-year increase of 39%, and a net profit attributable to shareholders of 1.24 billion yuan, up 14% year-on-year [2] - The company’s revenue and profit in Q2 exceeded expectations, with total revenue reaching 4.21 billion yuan, a 49% increase year-on-year, and a net profit of 780 million yuan, a 9% increase year-on-year [2] Revenue and Profit Analysis - The revenue from high-end equipment manufacturing in H1 2025 was 4.22 billion yuan, up 22.4% year-on-year, primarily driven by natural gas compression equipment [2] - The oil and gas engineering and technical services segment saw revenue of 2.07 billion yuan in H1 2025, an impressive 88.1% increase year-on-year, mainly benefiting from EPC deliveries in the Middle East [2] Margin and Cash Flow Performance - The company's gross margin for H1 2025 was 32.2%, a decrease of 3.6 percentage points year-on-year, while the net profit margin was 18.4%, down 4.1 percentage points year-on-year [3] - The domestic gross margin was 27.1%, down 7.5 percentage points year-on-year, primarily due to the delivery schedule of drilling and completion products [3] - The operating cash flow for H1 2025 was 3.14 billion yuan, a substantial increase of 196% year-on-year, attributed to excellent collection quality from overseas clients [3] International Market Expansion - The company is entering a harvest phase in its overseas layout, with the Middle East and North America being key markets for growth [4] - The Middle East is experiencing urgent economic transformation needs, leading to increased natural gas extraction and expansion of the natural gas equipment and EPC market, where the company is gaining market share [4] - In North America, the company is well-positioned to tap into the large replacement market for fracturing equipment, supported by its performance advantages [4] Financial Forecasts - The report maintains profit forecasts for the company at 3.03 billion yuan for 2025, 3.49 billion yuan for 2026, and 3.99 billion yuan for 2027, with corresponding P/E ratios of 14, 12, and 10 times [4]

兴业证券表示，支撑本轮行情的核心逻辑依然未被破坏，并且后续依然有较多提振市场信心的潜在催 化，新一轮行情随时可能启动。无论是8月GPT5发布等产业趋势的催化、中美商谈情况的落地，还是9 月3日阅兵活动、10月"十五五"规划会议等支撑国内中长期的宏大叙事，当前市场对于有利于风险偏好 的政策和事件反应都愈发积极。 A500ETF龙头(563800)，均衡配置各行业优质龙头企业，一键布局A股核心资产；场外联接(A类： 022424；C类：022425；Y类：022971)。 截至8月6日，A500ETF龙头近6月净值上涨8.88%。从收益能力看，截至2025年8月6日，A500ETF龙头 自成立以来，最高单月回报为4.54%，最长连涨月数为3个月，最长连涨涨幅为10.12%。截至2025年8月 6日，A500ETF龙头近3个月超越基准年化收益为8.26%。 A500ETF龙头紧密跟踪中证A500指数，中证A500指数从各行业选取市值较大、流动性较好的500只证券 作为指数样本，以反映各行业最具代表性上市公司证券的整体表现。据了解，中证A500指数行业分布 均衡，传统行业和新兴行业各占一半，同时增加医药、新能源、计算 ...

今日公布半年报公司一览 证券时报·数据宝统计，8月7日共有10家公司公布2025年半年报，其中8家净利润同比增长，2家同比下 降，9家营业收入同比增长，1家同比下降，净利润和营业收入同时增长的公司有顺博合金等8家，净利 润和营业收入均下降的有峨眉山A等1家，业绩增幅翻倍的公司有1家，其中顺博合金增幅最大，达 110.56%。（数据宝） | 代码 | 简称 | 每股收益 | 净利润（万 | 净利润同比 | 营业收入（万 | 营业收入同比 | | --- | --- | --- | --- | --- | --- | --- | | | | （元） | 元） | （%） | 元） | （%） | | 002996 | 顺博合 金 | 0.2700 | 17663.48 | 110.56 | 712627.98 | 11.75 | | 002233 | 塔牌集 团 | 0.3700 | 43539.69 | 92.47 | 205624.80 | 4.05 | | 300184 | 力源信 息 | 0.0833 | 9613.04 | 65.79 | 403377.28 | 17.46 | | 688082 | 盛 ...

（文章来源：证券时报网） 基本养老保险基金八零七组合、基本养老保险基金一五零二二组合为宏发股份第九、第七大流通股东， 合计持股量为2822.27万股，占流通股比例1.93%。基本养老保险基金八零八组合为杰瑞股份第十大流通 股东，持股量为671.79万股，占流通股比例0.97%。基本养老保险基金一二零五组合为东睦股份第六大 流通股东，持股量为626.64万股，占流通股比例1.02%。基本养老保险基金一二零四组合为海信家电第 十大流通股东，持股量为459.61万股，占流通股比例0.50%。（数据宝） 养老金持股明细 | 代码 | 简称 | 持股量（万股） | 环比（%） | 占流通股比例（%） | 行业 | | --- | --- | --- | --- | --- | --- | | 600885 | 宏发股份 | 2822.27 | 64.93 | 1.93 | 电力设备 | | 002353 | 杰瑞股份 | 671.79 | 新进 | 0.97 | 机械设备 | | 600114 | 东睦股份 | 626.64 | 43.23 | 1.02 | 机械设备 | | 000921 | 海信家电 | 459.6 ...

2025年8月7日，杰瑞股份(002353.SZ)发布2025年中报。 公司营业总收入为69.01亿元。归母净利润为12.41亿元。经营活动现金净流入为31.44亿元。 公司摊薄每股收益为1.22元。 公司最新总资产周转率为0.19次。最新存货周转率为0.82次。 公司股东户数为2.92万户，前十大股东持股数量为5.46亿股，占总股本比例为53.37%，前十大股东持股 情况如下： | 序号 | 股东名称 | 持股比例 | | --- | --- | --- | | I | 孙伟杰 | 18.97% | | | 王坤晓 | 13.01% | | WN | 刘贞峰 | 10.68% | | 4 | 香港中央结算有限公司 | 5.58% | | 5 | 中国工商银行股份有限公司-富国天惠精选成长混合型证券投资基金(LOF) | 1.47% | | 6 | 中国农业银行股份有限公司-中证500交易型开放式指数证券投资基金 | 0.89% | | 7 | 中国人寿保险股份有限公司-传统-普通保险产品-005L-CT001沪 | 0.71% | | 8 | 吴秀武 | 0.71% | | 9 | 全国社保基金一零一组合 ...

Group 1 - Jerry Holdings (002353.SZ) released its 2025 semi-annual report on August 7, 2025, indicating that as of August 6, 2025, 89 institutional investors disclosed holding a total of 147 million A-shares, accounting for 14.35% of the total share capital [1] - The top ten institutional investors include Hong Kong Central Clearing Limited, Industrial and Commercial Bank of China - Fortune Select Growth Mixed Securities Investment Fund (LOF), Agricultural Bank of China - CSI 500 ETF, China Life Insurance - Traditional - Ordinary Insurance Product - 005L-CT001, and others, with a combined holding ratio of 11.69%, which increased by 0.50 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, 19 funds increased their holdings compared to the previous period, with a holding increase ratio of 0.35%, including Southern CSI 500 ETF and others [2] - Conversely, 18 public funds decreased their holdings, also with a decrease ratio of 0.35%, including Huaxia Classic Mixed and others [2] - There were 31 newly disclosed public funds this period, including Jiashi Emerging Industry Stock and others, while 38 funds were not disclosed this period, including Jiashi Cycle Preferred Mixed and others [2] Group 3 - In the social security fund sector, there was an increase in holdings from one fund, the National Social Security Fund 101 Combination, with a slight increase in holding ratio [2] - One social security fund, the National Social Security Fund 118 Combination, was not disclosed this period [2] - In the insurance capital sector, one fund, China Life Insurance - Traditional - Ordinary Insurance Product - 005L-CT001, decreased its holdings slightly [2] Group 4 - In terms of foreign investment, one foreign fund, Hong Kong Central Clearing Limited, increased its holdings by 0.55% compared to the previous period [3]

Group 1: Market Overview - US stock markets experienced gains, with the Dow Jones up 0.18%, Nasdaq up 1.21%, and S&P 500 up 0.73% [1] - Notable stock performances include Apple rising 5.09%, Amazon up 4.00%, and Tesla increasing by 3.62% [1] Group 2: Trade and Tariffs - Trump plans to impose a 100% tariff on chip products, with exemptions for companies like Apple that manufacture in the US [2] - Japan has raised concerns over US tariff announcements, demanding corrections, while the US will impose an additional 15% tariff on Japanese products [3] Group 3: Apple Developments - Apple is collaborating with Samsung to introduce innovative chip manufacturing technology for iPhone and other products [4] - Apple has partnered with Corning to produce 100% of iPhone and Apple Watch-related products in Kentucky, USA [5] - Apple is investing an additional $100 billion in US manufacturing amid tariff pressures [2] Group 4: Tesla Innovations - Tesla is training a new Full Self-Driving (FSD) model, which is expected to be ten times more capable than the current version [6][12] - The FSD system is anticipated to be publicly released by the end of next month, with advanced features being integrated [12] Group 5: Industry Trends - The Chinese pan-anime user base is growing, with the market expected to reach 597.7 billion yuan by 2024, driven by diverse product forms and a younger demographic [10] - The national integrated computing network is progressing, with the release of nine technical documents aimed at enhancing resource scheduling and security [14]

Core Viewpoint - The company has disclosed its fundraising and usage report for the first half of 2025, detailing the total amount raised, expenses incurred, and the management of the funds [1][9]. Fundraising Overview - The company raised a total of RMB 2,499,999,974.82 through a non-public offering of 69,098,949 shares at RMB 36.18 per share, with a net amount of RMB 2,487,483,821.84 after deducting issuance costs [1][2]. - The funds were received on June 23, 2022, and verified by Zhongxi Accounting Firm [1]. Fund Usage and Management - As of June 30, 2025, the company reported the usage of the raised funds and the current balance, with specific amounts allocated for temporary working capital and cash management [2][3]. - The company has a policy for the management and usage of raised funds, ensuring they are stored in dedicated accounts to enhance efficiency and protect investor interests [4][5]. Changes in Fund Investment Projects - The company terminated the project for the industrialization of new energy intelligent fracturing equipment and redirected the remaining funds to oil and gas technology services [7][8]. Compliance and Reporting - The company confirmed that it has adhered to all relevant regulations regarding the management and disclosure of raised funds, with no violations reported [9].

证券代码：002353 证券简称：杰瑞股份 公告编号：2025-059 烟台杰瑞石油服务集团股份有限公司 第六届董事会第二十六次会议决议公告 二、审议并通过《2025 年半年度募集资金存放与使用情况的专项报告》 表决情况：9 票同意，0 票反对，0 票弃权。 报告内容详见巨潮资讯网（http://www.cninfo.com.cn）。 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。 ）第六届董 事会第二十六次会议在公司五楼会议室以现场方式召开。会议通知已于 2025 年 7 月 26 日通 过专人送达、邮件方式送达给董事、监事和高级管理人员，会议应到董事 9 人，实到董事 9 人，监事、高管列席会议。会议召开符合《公司法》及《公司章程》的规定。会议由董事长 李慧涛先生召集并主持，全体董事经过审议，以记名投票方式审议通过了： 一、审议并通过《2025 年半年度报告及摘要》 表决情况：9 票同意，0 票反对，0 票弃权。 公司的董事、监事、高级管理人员保证公司 2025 年半年度报告内容真实、准确、完整， 不存在任何虚假记载、误导性陈述或重大遗漏，并签署了书面确认 ...