Jereh Group(SZ:002353) Orient Securities·2025-12-03 09:14Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 70.9 CNY based on a 19x PE ratio for 2026 [5]. Core Insights - The company has secured a second data center order in North America, enhancing growth certainty and potential for additional business opportunities [3][8]. - The new order is expected to accelerate the company's strategic development in the data center sector, leveraging its comprehensive Gas to Power solution capabilities [8]. - The report anticipates continued growth in the company's power segment, supported by the increasing demand for electricity in the North American AI industry [8]. Financial Forecasts - The projected net profits for the company from 2025 to 2027 are 31.53 billion CNY, 38.18 billion CNY, and 44.64 billion CNY respectively, reflecting a robust growth trajectory [3]. - Revenue forecasts indicate a growth from 13.91 billion CNY in 2023 to 22.68 billion CNY by 2027, with a notable increase of 27.4% in 2025 [4][10]. - The company's gross margin is expected to improve from 32.8% in 2023 to 35.3% in 2027, indicating enhanced operational efficiency [4][10]. Market Performance - The company's stock has shown strong performance, with a 93.47% increase over the past year [6]. - The stock price as of December 3, 2025, was 65.91 CNY, with a 52-week range of 26.91 CNY to 65.91 CNY [5].