Jereh Group(SZ:002353) Soochow Securities·2025-07-11 14:05Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company has secured an EPC order for a natural gas booster station project in Algeria, valued at approximately 8.5 billion USD, which is expected to enhance production efficiency and gas processing capacity in the region [2][3] - The project marks a significant expansion of the company's oil and gas engineering services in North Africa, strengthening its market position in the integrated development of oil and gas fields [3] - The company's influence in the Middle East and Africa is anticipated to grow, leveraging its manufacturing advantages in natural gas compression equipment and gas turbine generator sets [3] - The company is entering a harvest period in the Middle East market, with several large EPC contracts signed, indicating strong trust from international oil companies in its capabilities [4] Financial Summary - The company's total revenue is projected to grow from 13,912 million RMB in 2023 to 20,195 million RMB by 2027, with a compound annual growth rate (CAGR) of approximately 12.75% [1] - Net profit attributable to shareholders is expected to increase from 2,454 million RMB in 2023 to 3,990 million RMB in 2027, reflecting a CAGR of about 14.25% [1] - The earnings per share (EPS) is forecasted to rise from 2.40 RMB in 2023 to 3.90 RMB in 2027, indicating a strong growth trajectory [1] - The current price-to-earnings (P/E) ratio is projected to decrease from 14.70 in 2023 to 9.04 by 2027, suggesting an attractive valuation over time [1]