Jereh Group(SZ:002353) HTSC·2025-12-01 02:42Investment Rating - The report maintains an "Accumulate" rating for the company with a target price of 73.20 RMB [5]. Core Insights - The company has signed a sales contract for generator sets worth over 100 million USD with a global AI industry giant, marking a significant breakthrough in the North American high-end power market [1]. - The company's modular and intelligent power generation solutions are expected to drive rapid growth in performance, supported by its fracturing equipment, natural gas equipment, and power generation equipment [1][2]. - The collaboration with Baker Hughes aims to provide efficient, low-carbon, and intelligent power solutions for global clients, including AI data centers and industrial manufacturing [3]. Financial Projections - The company has adjusted its profit forecasts for 2025-2027, expecting net profits of 30.95 billion, 37.49 billion, and 43.59 billion RMB respectively, with corresponding EPS of 3.02, 3.66, and 4.26 RMB [4]. - The company is projected to achieve a compound annual growth rate (CAGR) of 13%-27% in power demand from U.S. data centers by 2028, indicating a strong market opportunity [1]. - The report anticipates a price-to-earnings (PE) ratio of 20 times for 2026, reflecting the company's growth potential and market position [4].