证券日报网2月25日讯 ，杰瑞股份在接受调研者提问时表示，通过在美国杰瑞原有厂房的基础上进行产 能扩建，公司在北美地区目前已具备电驱/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；此外，公司正在积极推进在阿联酋迪拜新建生产及 办公基地的相关工作，可作为相关产品产能的有效补充。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。 （文章来源：证券日报） ...

Core Viewpoint - The company is expanding its production capacity in North America and establishing a new facility in Dubai to enhance its operational capabilities and meet market demand [1] Group 1: North America Operations - The company has developed production capabilities for electric drive/turbine fracturing equipment and gas turbine power generation equipment in North America [1] - The expansion is based on the existing facilities in the U.S., allowing the company to meet the production needs for related products in the region [1] Group 2: International Expansion - The company is actively working on establishing a new production and office base in Dubai, UAE, which will serve as an effective supplement to its production capacity [1] - The company plans to adjust its domestic and international production capacities based on actual order situations to enhance delivery capabilities [1]

Core Viewpoint - The company emphasizes the construction of a global supply chain system and has established strategic partnerships with major gas turbine manufacturers to enhance supply chain resilience [2] Group 1: Supply Chain Strategy - The company has formed strategic collaborations with Siemens, Baker Hughes, and Kawasaki Heavy Industries, covering multiple models of gas turbines to ensure robust product delivery [2] - Various measures are being implemented to improve the resilience of the supply chain [2] Group 2: Production Capacity - The company is expanding its production capacity based on its existing facilities in the United States, now capable of assembling electric drive/turbine fracturing equipment and gas turbine power generation equipment [2] - The production capacity in both domestic and international locations can be adjusted based on actual order conditions, allowing for optimized delivery capabilities [2]

Group 1: Company Overview and Strategic Initiatives - The company is entering the small modular reactor (SMR) sector as a strategic extension into emerging power and clean energy services, leveraging its experience in data centers, oil and gas field development, and industrial electricity [2][3] - The SMR-related equipment will utilize modular design, enhancing the company's production capabilities and complementing existing business lines to create competitive integrated energy solutions [3] Group 2: Natural Gas Market Dynamics - The rapid growth in natural gas orders is attributed to a reshaped global supply landscape, with diverse supply networks emerging in North America, the Middle East, North Africa, and Asia, making natural gas a strategic energy security goal for many countries [4] - The demand for clean energy is rising, positioning natural gas as an efficient and economical bridge in the global energy transition, especially as it fills electricity gaps and stabilizes power grids [4] Group 3: Future Outlook for Power Generation - The company plans to focus on three key areas: data centers, industrial energy, and new power systems, emphasizing technological innovation and product iteration to enhance clean energy equipment's smart and large-scale applications [5] - Integrated solutions will be provided for power equipment supply, intelligent operation control, and lifecycle maintenance support, ensuring efficient collaboration from energy production to electricity assurance [5] Group 4: Supply Chain and Delivery Assurance - The company is building a global supply chain to enhance resilience, establishing strategic partnerships with manufacturers like Siemens and Kawasaki Heavy Industries to ensure reliable delivery of gas turbine equipment [6][7] - Capacity expansion in the U.S. will support the production of various equipment types, ensuring that domestic and international capacities can be adjusted based on actual order demands [7] Group 5: Collaboration with Kawasaki Heavy Industries - A strategic cooperation agreement was signed with Kawasaki Heavy Industries for gas turbines, enhancing existing collaboration and establishing a joint market development mechanism [7]

Core Insights - In December 2025, over 600 A-share listed companies underwent institutional research, indicating a strong interest in investment opportunities in the A-share market as the new year approaches [2][3]. Group 1: Institutional Research Activities - The research activities in December 2025 maintained a high level of engagement, with more than 600 A-share companies participating [3]. - Among these, companies like Boying Special Welding received significant attention, with over 10 research sessions conducted, involving various types of institutions such as public funds, private equity, and insurance companies [3]. - Boying Special Welding plans to launch two HRSG production lines in 2026, primarily targeting non-North American markets [3][4]. Group 2: Company Performance and Insights - Boying Special Welding was noted as one of the standout stocks in December 2025, with a cumulative increase of over 30% [4]. - Jerry Holdings also ranked high in terms of institutional research frequency, focusing on supply chain resilience and partnerships with major gas turbine manufacturers [5]. - Jerry Holdings' stock price rose by over 20% in December 2025, reflecting strong market performance [5]. Group 3: Market Trends and Sector Focus - The research highlighted a concentration of interest in sectors such as machinery, electronics, basic chemicals, automotive, pharmaceuticals, power equipment, and computers [6]. - Over 100 companies that saw their stock prices double in 2025 participated in institutional research, indicating a correlation between research engagement and stock performance [8]. - Companies like Shenghong Technology, which experienced a stock price increase of over 500%, engaged with numerous institutional investors to discuss expansion plans and production capacity [8].

Core Viewpoint - In December 2025, over 600 A-share listed companies underwent institutional research, indicating a strong interest in investment opportunities in the A-share market as the new year approaches [1][4]. Group 1: Institutional Research Activities - More than 100 companies that experienced a doubling in stock price in 2025 were part of the institutional research [2][10]. - The research activities maintained high intensity, with institutions such as public funds, private funds, brokerages, and insurance companies participating in various forms including on-site visits and online research [4]. - Notable companies like Boying Special Welding and Jereh Holdings received significant attention, with Boying Special Welding being researched over 10 times in December 2025 [4][6]. Group 2: Company Insights - Boying Special Welding plans to launch two HRSG production lines in 2026 to meet non-North American market demands, leveraging its experience and production qualifications to maintain a competitive edge [4][5]. - Jereh Holdings emphasized its global supply chain resilience and strategic partnerships with major turbine manufacturers to ensure timely delivery of products, while also expanding its production capacity in North America [6]. - Okoyi's insights on tungsten prices suggest a stable high price range, benefiting the tool industry and allowing leading companies to consolidate their market positions through technological advantages [7]. Group 3: Market Trends and Performance - In December 2025, Jereh Holdings' stock rose over 20%, reflecting strong market performance [7]. - The A-share market saw the emergence of over 500 doubling stocks in 2025, with more than 100 of these companies participating in institutional research in December [10]. - Companies like Shenghong Technology, which saw a stock increase of over 500%, actively engaged with institutional investors to discuss expansion plans and production capabilities [10].

Core Viewpoint - The report from Huaxin Securities highlights that Jerry Holdings is leveraging its years of technological accumulation in gas power generation and intelligent control to establish Jerry MinDian Energy Group, integrating resources in the power sector and entering the high-growth data center market, which aligns with market demand and has gained recognition from overseas clients [1] Group 1: Company Developments - Jerry Holdings has expanded its production capacity based on existing facilities in the U.S., now capable of assembling various equipment including electric drive/turbine fracturing systems and gas turbine power generation equipment to meet production demands in North America [1] - The entry into the data center power generation sector is expected to provide new growth opportunities for the company, positively impacting its valuation [1] Group 2: Industry Context - The traditional oil and gas engineering services business is progressing steadily, reinforcing the company's performance foundation [1] - The natural gas industry is experiencing high demand, with a notable increase in order growth elasticity [1]

Core Viewpoint - The CEO of GE Vernova expresses caution regarding capacity expansion and anticipates that North American electricity spending will peak by 2026, raising concerns about the potential impact on Jerry's capacity expansion in North America, including price competition and margin decline [2]. Group 1: Company Operations - Jerry Co. (002353.SZ) is actively deploying gas turbine generator sets globally, with applications in oil and gas development, data centers, industrial power, municipal power, and emergency power [2]. - The company's North American capacity is designed to meet the production demands for electric drive/turbine fracturing equipment and gas turbine generator sets in the North American market [2]. Group 2: Market Dynamics - Jerry Co. is closely monitoring market trends and is prepared to respond proactively to changing market conditions [2].

Core Viewpoint - The company emphasizes the construction of a global supply chain system to enhance supply chain resilience and has established long-term stable partnerships with gas turbine manufacturers such as Siemens and Baker Hughes [1] Group 1: Supply Chain and Partnerships - The company has taken various measures to improve supply chain resilience [1] - Long-term partnerships have been formed with gas turbine manufacturers, covering multiple models including SGT-A05, LM2500, and NovaLT, ensuring solid support for product delivery [1] Group 2: Production Capacity - The company is expanding its production capacity based on its existing facilities in the United States, now capable of assembling various equipment including electric drive/turbine fracturing systems and gas turbine power generation equipment [1] - The company can adjust its domestic and international production capacities based on actual order conditions, enhancing its delivery capabilities [1]

Group 1 - The company is expanding its production capacity in North America, specifically in Houston, to meet the demand for electric drive/turbine fracturing equipment and gas turbine power generation equipment [1] - The company has established assembly capabilities for various types of equipment, which will effectively satisfy the production needs in the North American market [1] - The company plans to allocate resources and implement measures to ensure the production and delivery of gas turbine power generation equipment, with further details to be provided in regular reports [1] Group 2 - There is a focus on quickly delivering complete power generation equipment in the fourth quarter to secure more orders from major AI companies in North America [3] - The expected timeline for the expansion capacity in Houston is anticipated to be operational by 2026 [3]