Jereh Group(SZ:002353) Donghai Securities·2026-01-15 08:59Investment Rating - The investment rating for the company is "Buy" (maintained) [1][5] Core Insights - The company has secured a significant order for gas turbine generator sets worth $106 million (approximately 742 million yuan), which is expected to positively impact future operating performance [5] - The company is establishing a new growth curve in the power energy business, having formed partnerships with major players like Siemens Energy and Baker Hughes for gas turbine cooperation [5] - The company is expanding into the small modular reactor (SMR) sector, which is expected to enhance its competitiveness in the power sector and open new long-term growth opportunities [5] - The company is recognized as a leading domestic oil and gas equipment enterprise, with successful breakthroughs in drilling, natural gas, and gas turbine generator businesses both domestically and internationally [5] Financial Projections - Total revenue is projected to grow from 13,354.92 million yuan in 2024 to 23,799.61 million yuan in 2027, with a compound annual growth rate (CAGR) of approximately 20.14% [3][6] - Net profit attributable to the parent company is expected to increase from 2,627.03 million yuan in 2024 to 4,448.79 million yuan in 2027, reflecting a CAGR of about 17.77% [3][6] - The diluted EPS is forecasted to rise from 2.57 yuan in 2024 to 4.35 yuan in 2027, indicating strong earnings growth [3][6] - The price-to-earnings (P/E) ratio is projected to decrease from 32.79 in 2024 to 19.36 in 2027, suggesting improving valuation metrics [3][6]