研报掘金丨东海证券：维持杰瑞股份“买入”评级，再获发电机组1.8亿美元订单

Core Viewpoint - The report from Donghai Securities highlights that Jerry Holdings has secured a $180 million order for generator sets, which is linked to core gas turbine resources [1] Group 1: Company Overview - Jerry Holdings is a leading domestic oil and gas equipment company, achieving breakthroughs in drilling, natural gas, and gas turbine generator set businesses in both domestic and international markets [1] - The company's globalization strategy is gradually being implemented, with diversified business development showing synergy [1] Group 2: Business Performance - The natural gas business has won several large orders globally, while the gas turbine generator set business has achieved breakthroughs in North American data center orders, providing strong support for the company's performance growth [1] - Projected net profits attributable to shareholders for 2025, 2026, and 2027 are estimated to be 3.164 billion, 3.778 billion, and 4.449 billion yuan respectively [1] Group 3: Valuation - The current stock price corresponds to price-to-earnings ratios of 30.48, 25.53, and 21.68 for the years 2025, 2026, and 2027 respectively [1] - The recommendation to maintain a "buy" rating reflects confidence in the company's growth trajectory [1]