Jereh Group(SZ:002353) Shenwan Hongyuan Securities·2025-10-28 05:51Investment Rating - The report maintains a "Buy" rating for the company [7]. Core Insights - The company reported a revenue of 10.42 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 29.49%. The net profit attributable to shareholders was 1.808 billion yuan, up 13.11% year-on-year [4][7]. - The company has seen significant growth in its natural gas business segment, contributing to the overall revenue increase [7]. - The gross profit margin for the first three quarters of 2025 was 31.29%, a decrease of 3.73 percentage points compared to the previous year [7]. - The company has secured a major overseas contract worth approximately 6.126 billion yuan, which is expected to bolster future revenue and profit growth [7]. Financial Data and Profit Forecast - Total revenue projections for 2025 are estimated at 15.256 billion yuan, with a year-on-year growth rate of 14.2% [6]. - The net profit attributable to shareholders is forecasted to be 2.993 billion yuan for 2025, reflecting a growth rate of 13.9% [6]. - The earnings per share (EPS) for 2025 is projected to be 2.92 yuan, with a gross profit margin of 34.4% [6]. - The return on equity (ROE) is expected to be 12.7% in 2025 [6].