Jovo Energy(SH:605090) Chang Jiang Shang Bao·2025-12-24 23:21Core Viewpoint - The company Jiufeng Energy is actively participating in the growing commercial aerospace sector, focusing on the production and supply of specialized gases for rocket launches, with significant investments planned for expansion projects [1][4][6]. Group 1: Business Development - Jiufeng Energy has completed the first phase of its special gas project at the Hainan commercial aerospace launch site, with a total investment of approximately 300 million yuan planned for the second phase to meet the increasing demand for specialized fuels [1][5]. - The company has signed agreements with China Long March Rocket Co., ensuring annual supply guarantees for products like liquid nitrogen and helium [1][4]. - The special gas business is a key focus area for Jiufeng Energy, with projected revenue of 235 million yuan in 2024, accounting for about 1.07% of total revenue, reflecting a growth of 46.61% compared to 2023 [7][8]. Group 2: Financial Performance - Jiufeng Energy has consistently achieved annual profits exceeding 1 billion yuan from 2022 to 2024, with a net profit of 1.241 billion yuan reported for the first three quarters of 2025 [2][8]. - The company's financial health is stable, with a debt-to-asset ratio of 32.31% as of September 2025, and sufficient liquidity to cover its liabilities [3][8]. - The company has a strong asset base, including a 50,000-ton LNG and LPG receiving station, which is the first privately operated LNG receiving station in China [8]. Group 3: Market Position and Strategy - Jiufeng Energy aims to enhance its market competitiveness by integrating its three main business segments: clean energy, energy services, and specialized gases, creating a synergistic development model [2][7]. - The company is positioning itself to meet the substantial demand for specialized fuels in the commercial aerospace sector over the next decade, focusing on building a professional brand in aerospace gases [6]. - Jiufeng Energy is expanding its operations to other commercial launch sites, including Shandong and Gansu, indicating a strategic move to broaden its market reach [5].