Jereh Group(SZ:002353) 光大证券研究·2025-12-03 23:04Core Viewpoint - The company has successfully entered the North American data center market by securing multiple contracts for gas turbine generator sets, each exceeding $100 million, indicating a significant breakthrough in high-end power solutions [4][5]. Group 1: Business Development - The company’s subsidiary, Jerry Min Electric, signed a sales contract for gas turbine generator sets with a global AI industry leader, with a contract value exceeding $100 million [4]. - Another contract was signed with a different North American client shortly after, further solidifying the company's presence in the North American data center sector [4]. - The company aims to provide a comprehensive lifecycle solution for energy equipment, focusing on modular and intelligent power generation solutions [5]. Group 2: Product Features and Solutions - The gas turbine generator sets are designed with standardization and modularity, allowing for quick transportation, on-site assembly, and flexible expansion, addressing challenges such as tight project timelines and limited space [5]. - The company is expanding its service offerings in the areas of power supply and distribution systems for data centers, including small modular reactors (SMR) and thermal management systems [5]. Group 3: Strategic Partnerships - The company has entered into a global strategic cooperation agreement with Baker Hughes for the NovaLT gas turbine, ensuring future core production capacity [6]. - A strategic cooperation agreement was also signed with Siemens for gas turbines, which will help meet the growing demand in data center sectors [6].