China’s Jereh Gains by Limit After Landing Second Generator Order From US AI Giant

(Yicai) Jan. 14 -- Shares of Jereh Oilfield Services Group surged by their daily trading limit after the Chinese diversified energy services firm secured a second order for generators from a major US-based artificial intelligence company.Jereh [SHE: 002353] closed up 10 percent at CNY84.14 (USD12.06) per share in Shenzhen today, taking this month’s gain to almost 19 percent.GenSystems Power Solutions, a subsidiary of Jereh, will provide the unidentified client with USD106 million worth of gas turbine generators over 13 months, its Yantai-based parent company announced earlier today.This is the client’s second generator order with Jerah in less than two months. On Nov, 27, the company said it had secured a contract worth more than USD100 million from the North American data center of a global AI giant.Neither announcement disclosed the client’s name, for confidentiality reasons, but the first identified it as a global AI leader, while the second specified that the buyer is a US-registered entity.The deal is a major milestone for Jereh’s modular and intelligent power generation solutions in the North American data center market. Its equipment is designed to meet the high standards required for data center operations, including reliability, rapid response, operational flexibility, and stability, according to its November statement.Jereh said today that its gas turbine generators are suitable for both data centers and industrial power applications. Their standardized, modular design allows for rapid transport, on-site assembly, and flexible capacity expansion, effectively addressing clients’ operational needs.The second deal further strengthens the partnership between the two companies, Jereh said. Building on an already solid relationship, the collaboration helps Jereh consolidate its competitive advantage in producing data center and industrial power equipment while enhancing its global brand influence and market competitiveness, it added.Jereh’s power business comprises three main types of high-end equipment: gas power generators, renewable energy storage products, and power transmission systems. The company now offers full lifecycle services, covering equipment research, development, manufacturing, and intelligent power solutions.Editor: Futura Costaglione