天然气增压站项目

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杰瑞股份(002353):中标非洲天然气EPC订单,海外天然气成长逻辑逐步兑现
Soochow Securities· 2025-07-11 14:05
Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company has secured an EPC order for a natural gas booster station project in Algeria, valued at approximately 8.5 billion USD, which is expected to enhance production efficiency and gas processing capacity in the region [2][3] - The project marks a significant expansion of the company's oil and gas engineering services in North Africa, strengthening its market position in the integrated development of oil and gas fields [3] - The company's influence in the Middle East and Africa is anticipated to grow, leveraging its manufacturing advantages in natural gas compression equipment and gas turbine generator sets [3] - The company is entering a harvest period in the Middle East market, with several large EPC contracts signed, indicating strong trust from international oil companies in its capabilities [4] Financial Summary - The company's total revenue is projected to grow from 13,912 million RMB in 2023 to 20,195 million RMB by 2027, with a compound annual growth rate (CAGR) of approximately 12.75% [1] - Net profit attributable to shareholders is expected to increase from 2,454 million RMB in 2023 to 3,990 million RMB in 2027, reflecting a CAGR of about 14.25% [1] - The earnings per share (EPS) is forecasted to rise from 2.40 RMB in 2023 to 3.90 RMB in 2027, indicating a strong growth trajectory [1] - The current price-to-earnings (P/E) ratio is projected to decrease from 14.70 in 2023 to 9.04 by 2027, suggesting an attractive valuation over time [1]
杰瑞股份斩获61亿元天然气增压站项目 加码北非油气工程服务业务
Zheng Quan Shi Bao Wang· 2025-07-09 13:10
Group 1 - Jereh Corporation's wholly-owned subsidiary, Jereh Oil & Gas Engineering Corporation, has received a project award letter from Sonatrach SPA, amounting to approximately 850 million USD, equivalent to about 6.126 billion RMB [1][2] - The project, located in the Illizi Province of Algeria, aims to construct a gas boosting station to enhance production efficiency and processing capacity at the Rhourde Nouss gas field [2][3] - The project also includes upgrades and renovations of the gas collection pipeline network for both the Rhourde Nouss and Gassi Touil gas fields, indicating a comprehensive approach to improving gas handling [2] Group 2 - Sonatrach, established in 1963, is the largest oil company in Africa and Algeria's largest state-owned enterprise, with a strong financial position and credit rating [3] - The project win signifies Jereh Corporation's expansion in the North African oil and gas engineering services market, aligning with its strategic focus on the Middle East and North Africa [3][4] - In 2024, Jereh Corporation reported a significant increase in overseas market orders and revenues, with overseas revenue accounting for 45.2% of total revenue [4]