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]

Group 1 - The core point of the news is that Jerry Holdings experienced a decline of 5.02% in its stock price, reaching 52.57 CNY per share, with a trading volume of 270 million CNY and a turnover rate of 0.71%, resulting in a total market capitalization of 53.824 billion CNY [1] - Jerry Holdings, established on December 10, 1999, and listed on February 5, 2010, is primarily engaged in oil and gas field equipment and technical engineering services. The revenue composition is as follows: high-end equipment manufacturing 61.22%, oil and gas engineering and technical services 29.99%, renewable energy and recycling 4.76%, oil and gas field development 3.31%, and others 0.73% [1] Group 2 - From the perspective of fund holdings, one fund under Huisheng Fund has a significant position in Jerry Holdings. The Huisheng Leading Preferred Mixed A Fund (015110) held 48,100 shares in the third quarter, accounting for 6.07% of the fund's net value, making it the sixth-largest holding. The estimated floating loss today is approximately 133,700 CNY [2] - The Huisheng Leading Preferred Mixed A Fund (015110) was established on March 9, 2022, with a latest scale of 17.4907 million CNY. Year-to-date returns are 20.58%, ranking 4389 out of 8219 in its category; the one-year return is 15.37%, ranking 4346 out of 8125; and since inception, the return is 47.42% [2]

Core Insights - From 2024 to 2028, global natural gas engineering investment is expected to have a compound annual growth rate (CAGR) of over 10% [1] - The demand for natural gas equipment is anticipated to continue expanding, especially with the termination of existing long-term contracts for Russian natural gas in the EU by January 1, 2028, leading to increased imports from the US, Qatar, the Middle East, and North Africa [1] Company Developments - The company has established a comprehensive technical layout across the entire value chain of natural gas, including gas development, purification, liquefaction, storage, transportation, and end-use [1] - Recent increases in natural gas development demand have resulted in a rapid growth of orders in the company's natural gas-related business [1] - The company has successfully undertaken or won bids for several significant projects, including: - Kuwait KOC JPF-5 project - Bahrain BAPCO natural gas compressor station project - Iraq Mansuriya gas field development project - Algeria National Oil Company booster station project - Malaysia National Oil Company booster station project [1] - The company aims to further optimize its product structure, expand business regions, enhance product delivery efficiency, and improve market competitiveness in the natural gas sector to achieve greater performance breakthroughs [1]

Group 1 - The core viewpoint indicates that the National Petroleum and Natural Gas Index (399439) has shown a positive trend, with a 0.53% increase, and several component stocks have also risen significantly, such as Lanstone Heavy Industry (603169) up by 10.05% [1] - Engie CEO's statement highlights that European gas power plants are increasingly utilized to compensate for renewable energy supply gaps, with the load factor reaching 20% this year compared to 15% last year [1] - Dongwu Securities projects a favorable outlook for 2025, citing supply easing, cost optimization for gas companies, and a continued adjustment of pricing mechanisms alongside increasing demand [1] Group 2 - As of October 31, 2025, the top ten weighted stocks in the National Petroleum and Natural Gas Index (399439) include major companies such as China National Petroleum (601857) and China Petroleum & Chemical (600028), collectively accounting for 65.09% of the index [2] - The Oil and Gas ETF (159697) closely tracks the National Petroleum and Natural Gas Index, reflecting the price changes of publicly listed companies in the oil and gas sector [1][3]

Summary of Conference Call on Gas Turbine Industry Industry Overview - The gas turbine industry is experiencing rapid growth due to increasing electricity shortages in North America, with a projected gap of 2040 gigawatts from 2025 to 2030, leading to a 25%-30% rise in electricity prices over the past five years [1][2] - Gas turbine combined cycle power generation is recognized as an efficient and clean solution to fill the electricity gap, significantly improving power generation efficiency and reducing pollutant emissions [1][7] Key Companies and Opportunities - Domestic companies such as Jerry Holdings and Parker New Material are positioned to benefit from overseas opportunities in key components like turbine blades and high-temperature alloys [1][6] - Companies like Aiming Flow and West Energy are noted for their strong customer relationships and technological advantages, maintaining a leading position in the gas turbine and nuclear power sectors [1][8] - Military companies such as Aerospace Technology and Aerospace Power are entering the gas turbine market, with expectations of over 30% compound annual growth in profits in the coming years [1][9] Market Dynamics - Major global players like GE, Siemens, and Mitsubishi are expanding production to meet increasing orders, with GE reporting nearly 20 gigawatts in orders for Q3, a 40% year-on-year increase [5] - The gas turbine market is characterized by tight production capacity, with domestic companies actively engaging in international orders to drive the industry chain towards China [3][10] Investment Opportunities - Investment opportunities exist in various segments of the gas turbine industry, including: - Key component manufacturers like Jerry Holdings and Parker New Material [6] - Waste heat boiler companies such as Boyin Tehan and West Energy [6] - Emerging companies in the terminal segment like Haomai Technology and Linde Equipment [6] - Companies with high overseas revenue proportions, such as Aerospace Technology and Aerospace Power, are recommended for their growth potential [14] Challenges and Solutions - The North American electricity market faces challenges due to increasing demand from traditional energy, electric vehicles, and data centers, leading to a supply-demand imbalance [2] - Solutions include enhancing competitiveness through gas turbines, nuclear energy, and solid oxide fuel cells, as well as implementing energy storage technologies [3][4] Conclusion - The gas turbine industry is poised for significant growth driven by increasing global demand and domestic companies' ability to capture international orders. The focus on efficiency and clean energy solutions positions this sector as a critical player in addressing electricity shortages and environmental concerns [1][7][11]