Investment Rating - The report assigns an "Accumulate" rating to the company, indicating a potential stock price increase of 5% to 15% over the next six months [12]. Core Insights - The company, JiuLi Sogoo, has achieved profitability in the first three quarters of 2025, with revenue of 1.743 billion yuan, a year-on-year increase of 13.2%, and a net profit of 11.06 million yuan, up 397.1% year-on-year. This growth is attributed to downstream structural optimization and the expansion of emerging businesses [1]. - The deep-sea mooring business is positioned to benefit from national strategic initiatives, with the company investing 100 million yuan to establish a wholly-owned subsidiary in Tianjin to expand production capacity for deep-sea mooring products [1]. - In the commercial aerospace sector, the company has upgraded its offerings from general rigging to high-value, high-tech core systems for rocket recovery, positioning itself as a key player in a rapidly growing market [2]. - The company is accelerating its overseas market expansion, having secured significant international projects, which are expected to contribute substantially to its revenue growth [2]. Financial Summary - The company forecasts revenues of 2.954 billion yuan in 2025, 3.874 billion yuan in 2026, and 4.955 billion yuan in 2027, with corresponding net profits of 21 million yuan, 51 million yuan, and 85 million yuan respectively [3]. - The earnings per share (EPS) are projected to be 0.02 yuan in 2025, 0.05 yuan in 2026, and 0.09 yuan in 2027, with price-to-earnings (PE) ratios of 420.94, 170.35, and 102.83 respectively [3]. - The company’s total assets are expected to grow from 5.721 billion yuan in 2024 to 6.845 billion yuan in 2027, reflecting a robust growth trajectory [14].

Core Viewpoint - The company, Jili Rigging Co., Ltd., is actively engaging with institutional investors to showcase its business strategies and product applications, particularly in the aerospace and deep-sea economy sectors [1][3]. Group 1: Company Overview - The company hosted a visit for institutional investors, including Changsheng Fund and Tianhong Fund, where the Secretary of the Board, Zhang Yun, provided insights into the company's fundamentals and product offerings [1][2]. - The company has developed a comprehensive product system that is systematically applied in various aerospace projects, including the Shenzhou, Chang'e, Long March, Tiangong, and Tianwen series [4]. Group 2: Strategic Focus - The company is focusing on national strategic emerging industries, particularly in marine engineering, deep-sea technology, and the Belt and Road Initiative, to drive high-quality development [5]. - The company aims to enhance its industrialization and scale effects in the deep-sea economy by expanding into offshore wind power, aquaculture, and offshore photovoltaic applications [5]. Group 3: Competitive Advantages - The company is the only domestic enterprise to have obtained multiple DNV certifications, marking its transition from a single product supplier to a comprehensive solution provider in long-term mooring systems [6]. - The company has successfully applied its products in significant projects, including China's first floating wind turbine and various deep-sea aquaculture initiatives [6]. Group 4: International Strategy - The company is expanding its global presence through internationalization and leveraging the Belt and Road Initiative, with a sales network covering over 100 countries and regions [7]. - The company has undertaken notable projects in Saudi Arabia and Serbia, with plans to focus on expanding into the Middle East and Southeast Asia markets [7].

巨力索具股份有限公司 投资者关系档案 证券代码：002342 证券简称：巨力索具 巨力索具股份有限公司 投资者关系活动记录表 编号：【2025】005 投资者关系 活动类别 ■特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 ■现场参观 □ 一对一沟通 □其他 （请文字说明其他活动内容） 接待时间 2025 年 12 月 29 日 接待地点 巨力索具股份有限公司 接待人员 董事会秘书张云 接待对象 长盛基金、天弘基金 投资者关系活动 主要内容介绍 一、参观公司文化及产品展厅并介绍公司基本面总体概况 公司董事会秘书张云陪同来访人员参观公司文化及产品展厅，并 向来访人员简要介绍了公司基本面情况；在参观产品展厅过程中，亦 向来访人员简要介绍了公司产品、承接的工程案例以及下游客户情 况。 二、互动交流 1、商业航天领域正逐渐兴起，市场对商业航天板块的关注度提 高，尤其是可回收火箭技术。公司作为该领域的重要参与者，有望受 益于这一趋势，公司在该领域有哪些产品应用？ 航空航天是公司涉足的下游行业领域之一，公司作为航天事业合 作伙伴，一直依托自身专业能力在航天领域发挥优势；尤其是在实践 的基础 ...

巨力索具股份有限公司 投资者关系档案 股永久系泊钢丝绳、系泊纤维缆、深海系泊系统配件）为依托，积极 开展市场推广，应用在了海上风电、海上养殖、海上光伏等多个应用 场景。为提升公司在该领域的产业化、规模化效应，并对标国际同行 业，构建高效服务与成本优势的核心竞争力，公司已经在天津设立全 资子公司。 证券代码：002342 证券简称：巨力索具 巨力索具股份有限公司 投资者关系活动记录表 编号：【2025】003 投资者关系 活动类别 ■特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 ■现场参观 □ 一对一沟通 □其他 （请文字说明其他活动内容） 接待时间 2025 年 12 月 11 日 接待地点 巨力索具股份有限公司 接待人员 董事会秘书张云 接待对象 东北证券首席分析师 投资者关系活动 主要内容介绍 一、参观公司文化及产品展厅并介绍公司基本面总体概况 公司董事会秘书张云陪同来访人员参观公司文化及产品展厅，并 向来访人员简要介绍了公司基本面情况；在参观产品展厅过程中，亦 向来访人员简要介绍了公司产品、承接的工程案例以及下游客户情 况。 二、互动交流 1、请介绍一下公司对天津工厂的 ...

Core Viewpoint - The article highlights the transformation of Juyi Rigging Co., Ltd. from a traditional land-based company to a leader in deep-sea technology, emphasizing its innovative products and strategic market positioning in the offshore wind energy sector [1][2]. Company Overview - Juyi Rigging has a 40-year history and is recognized as a leading enterprise in China's rigging industry, contributing to major projects like the Bird's Nest and Hong Kong-Zhuhai-Macao Bridge [1]. - The company is now focusing on deep-sea technology, particularly in the development of mooring systems for floating offshore wind turbines [2]. Technological Innovation - Juyi Rigging has developed a "single-strand permanent mooring steel wire rope," which addresses the high technical barriers in the deep-sea mooring sector, previously dominated by a few Western companies [2]. - The company has created a "visual remote monitoring platform for the entire lifecycle of mooring systems," allowing real-time monitoring of stress, deformation, and corrosion, thus enhancing product longevity and safety [3]. Market Strategy - The company has established a new subsidiary in Tianjin to capitalize on the growing offshore wind energy market, which is projected to see significant growth during the 14th and 15th Five-Year Plans [4][5]. - Juyi Rigging aims to reduce production costs and increase market share through large-scale and intelligent production at its Tianjin base [5]. Industry Context - The global marine economy is accelerating, with China's focus on developing marine technology and protecting marine ecology as outlined in the 20th National Congress report [6]. - The offshore wind energy market in China is expected to grow significantly, with over 70% of resources located in deep waters, necessitating advanced floating technologies [4]. Competitive Landscape - Juyi Rigging is the only company globally to receive international classification society certifications for steel wire ropes, fiber ropes, forged connectors, and complete mooring systems, enhancing its credibility in international markets [3]. - The company faces competition from established Western marine engineering firms, necessitating improvements in technology, branding, and marketing to gain a competitive edge [7]. Future Outlook - The company is optimistic about expanding into emerging sectors such as deep-sea aquaculture, offshore photovoltaics, marine tourism, and seabed resource development, each representing significant market potential [7]. - Juyi Rigging's leadership emphasizes the importance of becoming a dominant player in the rigging industry, with aspirations to expand from a national to an international presence [7].

Core Viewpoint - The company, Jili Sogear, is actively expanding its presence in the deep-sea mooring system market, leveraging government support and technological advancements to enhance its product offerings and market position [1][2][3] Group 1: Company Developments - Jili Sogear has engaged with numerous institutions and media, showcasing its commitment to deep-sea technology and marine economy, as highlighted by recent government initiatives [1] - The company has established a wholly-owned subsidiary focused on marine technology, with an investment of 100 million yuan to target the deep-sea mooring product market [3] - Jili Sogear has achieved multiple DNV factory recognition certificates, marking its transition from providing single mooring products to offering comprehensive long-term mooring solutions [2] Group 2: Market Opportunities - The deep-sea region is rich in wind energy resources, with global offshore wind energy resources exceeding 710 billion kilowatts, of which over 70% is in deep waters [2] - The compound annual growth rate (CAGR) for installed capacity in deep-sea wind power is projected to reach 56% from 2025 to 2027, indicating significant market potential [2] - The deep-sea technology industry is expected to exceed 3 trillion yuan, with core suppliers of deep-sea mooring systems poised to benefit significantly [2] Group 3: Financial Performance - In the first half of 2025, Jili Sogear reported impressive financial results, achieving revenue of 1.14 billion yuan, a year-on-year increase of 17.45%, and a net profit of 9.35 million yuan, up 137.21% [3] - The company anticipates continued growth in performance, particularly with the establishment of its Tianjin subsidiary, which is expected to enhance overall company earnings [3]

Core Viewpoint - The establishment of Tianjin Marine Technology Company marks a strategic connection between the company's expertise in rigging and the vast market potential of deep-sea technology, aiming for sustainable development through continuous innovation and precise strategic layout [1][5]. Group 1: Company Overview - The company has held its first large-scale investor meeting since its listing 15 years ago, attended by numerous institutional investors and media representatives [3]. - The company is a leading player in the domestic rigging industry, with a diverse product range covering marine engineering, power equipment, bridge engineering, and traditional industrial sectors, serving over 100 countries [4]. Group 2: Financial Performance - In the first half of the year, the company achieved a revenue of 1.14 billion yuan, a year-on-year increase of 17.45%, and a net profit attributable to shareholders of 9.35 million yuan, up 137.21% [5]. - The financial improvement is attributed to various factors, including capacity release from its subsidiary in Henan and a surge in orders from wind power, nuclear power, and marine engineering sectors [5]. Group 3: Strategic Initiatives - The investor meeting focused on the company's deep-sea strategic layout, coinciding with the government's recognition of deep-sea technology as a key area for future development [5]. - The company plans to invest 100 million yuan to establish a wholly-owned subsidiary in Tianjin, leveraging the region's advantages as a hub for marine engineering equipment [8]. Group 4: Research and Development - The company is committed to maintaining its industry-leading position in deep-sea mooring systems, with significant investments in R&D, which reached 10.61 million yuan in the first half of the year, a 96.72% increase [5][6]. - The company has developed advanced deep-sea mooring products and is the only enterprise to obtain multiple DNV factory recognition certificates, facilitating its transition to providing comprehensive mooring solutions [6]. Group 5: Future Development Plans - The company aims to enhance its industrialization and scalability in marine engineering through the new subsidiary, focusing on efficient service and cost advantages [9]. - Future plans include increasing R&D investment to overcome key technological challenges and expanding its global presence, particularly in high-end international projects [9].

Core Viewpoint - The company, Giant Lifting (巨力索具), held its first large-scale investor meeting since its listing in 2010, focusing on its deep-sea strategic layout, technological advantages, and future plans [1] Group 1: Company Overview - The company has become an industry leader in the lifting equipment sector, having led the formulation of 16 national and industry standards, and participated in the development of 49 standards overall [1] - The term "lifting equipment" was popularized in China by the company, highlighting its significant role in the industry [1] Group 2: Deep-Sea Strategic Layout - The company is focusing on the deep-sea technology sector, which is expected to exceed 3 trillion yuan in overall industry scale due to government initiatives [2] - The company announced plans to invest 100 million yuan to establish a wholly-owned subsidiary in Tianjin, dedicated to the deep-sea mooring products market [2] - Key product lines include single-strand permanent mooring steel wire ropes, fiber mooring cables, and structural connectors, with the single-strand permanent mooring steel wire rope recognized as a major technological equipment project [2] Group 3: Market Potential and Challenges - The projected offshore wind power installed capacity during the 14th Five-Year Plan is expected to reach 52 GW, requiring over 3,000 floating wind turbines, with each mooring system valued at several million yuan [3] - The overall market scale for mooring systems could reach hundreds of billions, presenting significant growth opportunities for the company [3] - Despite the promising outlook, challenges remain in scaling deep-sea mooring technology, as the current domestic floating wind power is still in the demonstration phase [3] - The establishment of the Tianjin project aims to create a competitive edge in service efficiency and cost, aligning with national strategies and securing policy support [3]

Financial Performance - As of June 2025, accounts receivable balance is 1.493 billion, with 74% (1.1 billion) aged within one year, primarily from high-quality state-owned enterprise partners, indicating low bad debt risk [4] - Cumulative dividends since the company's listing exceed 300 million, with plans for continued investor returns [8] Strategic Development - The company is establishing a wholly-owned subsidiary in Tianjin to enhance industrialization and competitiveness in the deep-sea economy, focusing on three product lines: single permanent mooring steel wire ropes, mooring fiber cables, and deep-sea mooring system components [5][8] - The project is aligned with national policies promoting deep-sea wind power and is currently preparing a feasibility study report [5][8] Product and Market Position - The company has obtained multiple DNV factory recognition certificates, marking its transition from providing single mooring products to offering comprehensive long-term mooring solutions [6] - The mooring system is a critical component of floating systems, with significant cost reduction potential, positioning the company as a unique provider with complete design and manufacturing capabilities in the deep-sea mooring market [7]

Investment Overview - The company plans to invest 100 million RMB to establish a wholly-owned subsidiary, Giant Lifting Marine Technology (Tianjin) Co., Ltd. [1] - The investment decision was approved during the 36th meeting of the 7th Board of Directors on August 14, 2025, and does not require shareholder approval [1][5]. Investment Target Basic Information - The subsidiary will focus on various sectors including marine engineering equipment development, manufacturing, and sales, as well as environmental protection equipment and underwater systems [2][3]. Purpose and Impact of the Investment - The investment aligns with the growing global demand for marine resource development, particularly in offshore oil and gas extraction, renewable energy, and marine aquaculture [3][4]. - The government has recognized "deep-sea technology" as a key area for industrial development, indicating a strategic shift towards the commercialization of deep-sea technologies [3]. - Local governments in coastal regions are also implementing policies to promote marine economic development, which supports the company's strategic direction [3]. Company's Competitive Position - The company has established a strong foundation in the lifting equipment sector and has been addressing key technological challenges in marine engineering equipment [4]. - The establishment of the subsidiary is expected to enhance the company's sustainable development capabilities without negatively impacting its financial status or shareholder interests [5]. Current Status and Future Plans - The subsidiary is still in the planning stage and will require approval from relevant regulatory authorities before commencing operations [5]. - The company will continue to disclose updates regarding the establishment and operational plans of the new subsidiary [5].