证券日报网1月7日讯 ，杰瑞股份在接受调研者提问时表示，公司目前在数据中心、油气田开发、工业 用电等应用场景下的电力业务领域已积累较为丰富的业务经验，能够根据不同业务场景为客户提供定制 化、低碳化的综合能源解决方案，本次切入小型模块化反应堆（SMR）业务领域是公司向新兴电力领 域及清洁能源服务领域的重要战略延伸，是进一步拓展电力业务布局的战略举措。另一方面，SMR相 关设备采用模块化设计，公司通过深耕高端装备制造业务，已经具备扎实的生产制造基础并累积充足的 模块化生产设计经验。同时，切入该领域将与公司现有业务形成互补，深化产业协同，丰富模块化、智 能化的发电解决方案，共同构建更具竞争力的综合能源解决方案，进一步加强公司在全球的数字基础设 施的深度布局。目前，公司计划通过中东子公司于阿联酋迪拜成立控股子公司，开展SMR业务的经营 活动。 （文章来源：证券日报） ...

证券代码：002353 证券简称：杰瑞股份 烟台杰瑞石油服务集团股份有限公司投资者关系活动记录表 答：公司注重构建全球化供应链体系，采取多种措施提升公司供应链韧性，与西门子、 贝克休斯、川崎重工等燃气轮机厂商建立了战略合作关系，合作范围涉及多个型号的 燃气轮机，为相关产品交付提供坚实保障。在产能方面，公司通过在美国杰瑞原有厂 房的基础上进行产能扩建，目前已具备电驱/涡轮压裂成套设备、燃气轮机发电设备等 多种类设备总装配的生产能力，可满足北美地区相关产品的生产需求；同时公司海内 外产能可以相互调节，公司会根据实际订单情况合理规划利用海内外产能，强化交付 能力。 编号：20251226 | | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | 现场参观 | | | □其他 | | | 序号 代表机构 姓 名 | | | 1 工银瑞信 黄 璨 | | | 2 工银瑞信 李文明 | | | 3 熵盈基金 刘 翔 | | | 4 立心基金 孙 毅 | | | 5 立心基金 张海涛 | | 活动参与人员 ...

证券代码：002353 证券简称：杰瑞股份 烟台杰瑞石油服务集团股份有限公司投资者关系活动记录表 编号：20251217 | | 特定对象调研 □媒体采访 | □分析师会议 □业绩说明会 | | | | --- | --- | --- | --- | --- | | 投资者关系活动 类别 | □新闻发布会 | □路演活动 | | | | | 现场参观 | | | | | □其他 | | | | | | | | 场次一 | | | | | 序号 | 代表机构 | 姓 名 | | | | 1 | 汇添富基金 | 蔡志文 | | | | 2 | 汇添富基金 | 马 磊 | | | | 3 | 汇添富基金 | 袁天洋 | | | | 4 | 汇添富基金 | 江 健 | | | | | 场次二 | | | | | 序号 | 代表机构 | 姓 名 | | | | 1 | Point 72 | Rex Feng | | | | 2 | Point 72 | Christina | He | | | 3 | 高毅资产 | 邢天成 | | | 活动参与人员 | | 场次三 | | | | | 序号 | 代表机构 | 姓 名 ...

Core Viewpoint - Jerry Holdings has made a significant breakthrough in the North American data center market by signing a sales contract for generator sets worth over $100 million, marking a key milestone in its strategic expansion in this sector [1][3]. Group 1: Business Development - The company has established a wholly-owned subsidiary, Jerry MinDian Energy Group, to deepen its engagement in the power sector and accelerate business breakthroughs [2]. - Jerry Holdings has developed a comprehensive energy solution based on years of technical accumulation in gas power generation, intelligent control, and complex system integration [2]. - The company has a complete management system covering R&D design, precision manufacturing, quality control, and global supply chain collaboration to ensure efficient project implementation [2]. Group 2: Product and Technology - Jerry Holdings offers a full range of self-developed power equipment, including gas turbine generator sets, reciprocating internal combustion engine generator sets, energy storage devices, and variable frequency devices, forming a highly integrated, modular, and intelligent gas power product system [2]. - The product system is designed to meet high standards of reliability, responsiveness, operational flexibility, and stability required in various applications, including data centers and oil and gas development [1][2]. Group 3: Strategic Partnerships - The company has strengthened its core component supply stability by signing a global strategic cooperation and large-scale order agreement with Baker Hughes, building on its long-term collaboration with Siemens [2]. - This partnership aims to provide robust support for project delivery on a global scale, ensuring timely and high-quality equipment delivery following the recent $100 million order [2]. Group 4: Market Recognition - The successful sale of equipment in the data center sector reflects the company's comprehensive strength and the high market recognition established through repeated validations of its power generation equipment in North America [3]. - The signing of this contract not only signifies a strategic upgrade in the North American market but also marks a critical step in the company's integrated capability development in the data center sector [3]. Group 5: Investor Engagement - The investor relations activity included participation from various well-known domestic and international investment institutions, including investment banks, public funds, private equity funds, and insurance companies [4].

Core Insights - The 2025 Beijing International Wind Energy Conference emphasizes the goal of achieving a cumulative installed wind power capacity of 1.3 billion kilowatts by 2030 and 2 billion kilowatts by 2035, with a long-term target of 5 billion kilowatts by 2060, contributing to carbon neutrality in the energy sector [1][2] - The wind power industry is transitioning from a focus on single project development to comprehensive energy solutions, indicating a shift towards high-quality development amidst previous irrational competition [2][4] Industry Growth Potential - As of mid-2025, China's cumulative wind power installed capacity reached 570 million kilowatts, accounting for 22.7% of total installed capacity, with significant growth potential highlighted in the "Wind Energy Beijing Declaration 2.0" [2] - The wind and solar power sectors are projected to achieve a total installed capacity of over 3.6 billion kilowatts by 2035, representing a sixfold increase from 2020 levels, with an annual addition of approximately 220 million kilowatts needed [2] Supply Chain Competitiveness - China possesses over 70% of the global supply of wind power components, establishing a complete and efficient supply chain that enhances competitiveness in the wind power sector [3] Industry Self-Regulation - A self-regulatory agreement was signed by 12 domestic wind turbine manufacturers to promote fair competition and address issues stemming from previous irrational competition, indicating a collective effort to stabilize the industry [4][5] - The focus is shifting from merely creating economic benefits to ensuring energy security, with a recognition that wind power must serve as a reliable foundation within the energy system [5] Transition to Comprehensive Solutions - The industry acknowledges that traditional models of relying solely on power generation are no longer sustainable, necessitating the adoption of integrated energy solutions such as green electricity direct connection and energy storage systems [5]

Core Points - The meeting between Shanxi Provincial Government and CRRC Group focused on high-quality development and modernization in Shanxi [1] - Both parties aim to enhance cooperation in various fields including rail transit equipment, green transportation, high-end motor manufacturing, new energy equipment, and AI+energy [1] - A specialized mechanism will be established to strengthen communication and project implementation, aligning with the 14th Five-Year Plan and promoting joint scientific research [1] Group 1 - The meeting was attended by key officials from both Shanxi Province and CRRC Group, including the provincial governor and the chairman of CRRC [1] - The collaboration will focus on comprehensive energy solutions and complete equipment supply [1] - Emphasis will be placed on technological innovation to drive industrial innovation and energy transition [1]

Investment Rating - The report maintains an "Overweight" rating for the company in both A-shares and H-shares [6][8]. Core Insights - The company achieved significant revenue and net profit growth in the first half of 2025, with revenue reaching CNY 119.76 billion, a year-on-year increase of 33.0%, and net profit attributable to shareholders of CNY 7.25 billion, up 72.5% [2]. - The railway equipment business saw a revenue increase of 42.2% year-on-year, driven by a recovery in passenger demand and growth in the high-speed train segment [3]. - The company secured new orders worth CNY 146 billion in the first half of 2025, reflecting a stable growth trend in its order book [4]. - Large-scale tenders for high-speed trains and locomotives have opened up market opportunities, with the National Railway Group planning to significantly increase high-speed rail mileage by 2035 [5]. Summary by Sections Financial Performance - In H1 2025, the company reported a revenue of CNY 119.76 billion, a 33.0% increase year-on-year, and a net profit of CNY 7.25 billion, reflecting a 72.5% growth [2]. - The gross margin improved to 21.8%, up 0.4 percentage points, while the net margin increased to 7.4%, up 1.3 percentage points [2]. Business Segments - The railway equipment segment generated CNY 59.71 billion in revenue, with notable growth in various categories: locomotives (19.8%), passenger cars (66.8%), and freight cars (74.3%) [3]. - New industries, particularly clean energy equipment, contributed CNY 40.73 billion, marking a 35.6% increase [3]. Orders and Market Outlook - The company signed new orders totaling CNY 146 billion in H1 2025, with overseas orders amounting to CNY 30.9 billion [4]. - The National Railway Group's plans for extensive tenders in high-speed trains and locomotives are expected to benefit the company's business significantly [5]. Earnings Forecast - The report forecasts net profits of CNY 13.57 billion, CNY 14.74 billion, and CNY 15.85 billion for 2025, 2026, and 2027, respectively, with corresponding EPS of CNY 0.47, CNY 0.51, and CNY 0.55 [6][7].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% in the next 6-12 months [5]. Core Insights - The company reported a total revenue of 1.92 billion RMB for the first half of 2025, a year-on-year decrease of 14.7%, and a net profit attributable to shareholders of 400 million RMB, down 25.7% year-on-year [2]. - The decline in revenue and profit is attributed to delays in domestic project execution, fluctuations in demand in certain overseas markets, and increased counter-cyclical investments leading to higher expenses [2]. - The company is a leader in the global smart meter market, with significant growth potential in smart distribution and renewable energy sectors, benefiting from the global upgrade of power grids [5]. Summary by Sections Performance Review - In Q2 2025, the company achieved total revenue of 1.14 billion RMB, a decrease of 15.8% year-on-year, with a net profit of 250 million RMB, down 20.2% [2]. Operational Analysis - The company is deepening its overseas strategic layout while maintaining a solid domestic base. In overseas markets, it has launched a smart ultrasonic water meter factory in South Africa and secured transformer orders in Central Asia and Africa [3]. - Domestically, the company has won over 400 million RMB in new orders, including significant contracts for power metering products and distribution equipment [3]. New Energy Business - The company is transitioning from product sales to system integration and scenario-based solutions in the renewable energy sector, having developed key equipment and EMS systems for microgrid projects in Africa and Latin America [3]. Investment in Sales and R&D - The company has increased its sales and R&D expenses by 11.6% and 6.1% year-on-year, respectively, highlighting its commitment to market expansion and technological innovation [4]. Profit Forecast and Valuation - The company is expected to achieve net profits of 1.04 billion RMB, 1.16 billion RMB, and 1.38 billion RMB for the years 2025, 2026, and 2027, respectively, with growth rates of 3%, 12%, and 19% [5]. - The current stock price corresponds to a PE valuation of 13, 11, and 10 times for the years 2025, 2026, and 2027 [5].

Core Insights - The latest stock price of Funeng Technology is 16.84 yuan, reflecting a 1.14% increase from the previous trading day [1] - The company reached a maximum intraday price of 17.20 yuan and a minimum of 16.52 yuan, with a total transaction amount of 5.01 billion yuan [1] Company Overview - Funeng Technology is a comprehensive energy solutions provider focused on the research, production, and sales of power batteries and battery systems [1] - The main products include battery cells, modules, and battery packs [1] Financial Performance - The company achieved a revenue of 11.68 billion yuan in 2024 and 2.32 billion yuan in the first quarter of 2025 [1] - Funeng Technology has reported losses for five consecutive years from 2020 to 2024, with a total loss amounting to 4.41 billion yuan [1] Shareholder Activity - Shareholder Shenzhen Anyan plans to reduce its holdings by 12.221 million shares, accounting for 1% of the total share capital, with a reduction amount of approximately 206 million yuan between July 25 and August 7, 2025 [1] - Another shareholder, Shanghang Xinyuan, intends to reduce its holdings by up to 24.24 million shares, representing 1.9832% of the total share capital, between August 13 and November 12, 2025 [1]

Summary of Honghua Group Conference Call Company Overview - **Company**: Honghua Group - **Date**: June 17, 2025 Key Points Financial Performance - Honghua Group achieved a turnaround in net profit, with expectations for 2025 growth rates to exceed those of orders and revenue [2][4] - Revenue for 2024 reached approximately 5.633 billion yuan, marking a growth of about 3% [4] - The company anticipates a further increase in gross margin by 2 percentage points in 2025 [2][6] Business Segments - The company maintains its leading position in land drilling rigs, with marine and fracturing equipment and services becoming key growth drivers [2][6] - The marine segment is expected to contribute significant revenue growth in 2024, while the fracturing business is projected to turn profitable, enhancing gross profit margins [2][6] - Basic business (land drilling rigs, fracturing fluids, drilling engineering services, and components) accounts for over 70% of revenue, with growth expected from marine and fracturing segments contributing approximately 1.2 billion yuan each in 2025 [8] International Expansion - Honghua's international strategy focuses on the Middle East, with a significant presence in countries like Kuwait, Saudi Arabia, and Iraq [12][13] - The company plans to establish subsidiaries in Singapore and Lagos, Nigeria, to further develop its marine oil sector [3][14] - As of May 2025, the company had an order backlog of approximately 5 billion yuan, exceeding half-year expectations, with a full-year order forecast of 8 billion yuan [10] Digital and Marine Products - Digital products have entered the high-end market in the Middle East, with marine products also achieving breakthroughs [11] - The company is enhancing its capabilities in special vessels and intelligent drilling rigs, recently winning orders for intelligent drilling rigs in the Middle East [7] Market Dynamics - The Middle East oil service industry is experiencing high demand, with Honghua actively participating in various EPC projects [16] - The company has signed a significant order worth 1.5 billion yuan with the largest oil rig contractor in the Middle East, involving six 3,000 horsepower artificial island drilling rigs [20] Competitive Landscape - Honghua has established itself as a leading brand in the Middle East, competing effectively against major players like NOV [21] - The company emphasizes rapid response, customization, and strong service capabilities, which have contributed to its competitive advantage [22] Future Outlook - The company is optimistic about future profit growth, driven by improved product structure and management efficiency [31][36] - Honghua aims to achieve over 8.5 billion yuan in orders for 2025, reflecting a 15% increase from 2024 [26] - The focus will be on becoming a top player in core components and digital products, as well as in the marine equipment sector within five years [26] Domestic Market Trends - Domestic oil demand is shifting towards deep earth, deep sea, and unconventional energy sectors, with a focus on developing marine equipment to align with future drilling technology advancements [24] Shareholder Returns - The company is considering share buybacks, dividends, and stock incentives as part of its market value management strategy [25] Order Structure - In the first half of 2025, over 30% of orders were related to marine projects, with more than 40% of orders coming from the Middle East [26] Profitability and Cost Management - The company expects to see a decline in financial costs and management expenses, contributing to net profit growth [36] This summary encapsulates the key insights from the conference call, highlighting Honghua Group's financial performance, business segments, international expansion, market dynamics, competitive landscape, and future outlook.