First Read: Jereh Oilfield Services "2026 AIC: 'data centre-oriented power..."

Research evidence excerpt

First Read: Jereh Oilfield Services "2026 AIC: 'data centre-oriented power..."

Global Research

28 May 2026abc

First Read

EquitiesJereh Oilfield Services

2026 AIC: 'data centre-oriented power China

generation + globalisation' gathering pace Oil Drilling, Equipment & Services

12-month rating Buy

12m price target Rmb200.00

Takeaways & outlook

On 27 May, Jereh participated in the 2026 AIC. Management had in-depth

conversations with investors, highlighting the company's power generation business Price (27 May 2026) Rmb141.46

development strategy, capacity expansion plans, and progress in overseas operations. RIC: 002353.SZ BBG: 002353 CS

We see Jereh has a clear globalisation vision and this, coupled with its 'overseas

Trading data and key metrics

expansion + data centre-oriented power generation' dual-engine push, should give the

company robust growth momentum. We reiterate our Buy rating, as we remain positive 52-wk range Rmb150.80-33.95

about its deepening overseas presence and long-term growth potential from AIDC- Market cap. Rmb145b/US$21.4b

related power generation (see note). Shares o/s 1,024m (ORDA)

Free float 46%

Pushing ahead with promising gas turbine power generation business Avg. daily volume ('000) 22,048

Focusing on data centre-oriented power generation needs, Jereh is directing efforts Avg. daily value (m) Rmb2,605.9

towards gas turbine head (GTH) sourcing, customer expansion and service integration. Common s/h equity (12/26E) Rmb26.0b

GTH-wise, Jereh has strong ties with GEV/Siemens/Baker Hughes, lately reinforced by a P/BV (12/26E) 5.6x

strategic cooperation deal on SGT-series industrial gas turbines signed between Jereh's Net debt to EBITDA (12/26E) NM

unit Jereh Agile Power Energy and Siemens Energy. Meanwhile, Jereh is working with