HK Stock Market Move | Electric power equipment stocks strengthened in early trading, gas turbines may benefit from overseas AIDC construction, institutions are optimistic about the demand for the electricity market.

Power equipment stocks strengthened in early trading. As of the time of writing, HARBIN ELECTRIC (01133) rose by 7.58% to HKD 15.33, Dongfang Electric Corporation (01072) rose by 6.39% to HKD 23.32, and Shanghai Electric Group (02727) rose by 4.71% to HKD 4.22. On the news front, the CEO of GE Vernova, Scott Strazik, recently stated that with the increasing demand for electricity driven by the construction of large data centers, the company expects to sign contracts for 80 gigawatts of combined cycle gas turbine by the end of the year. The company's gas turbines are already sold out until 2028, with only 10% of capacity remaining for 2029. It was also reported that NVIDIA plans to hold a private summit next week, inviting startups focused on solving data center power issues, which could hinder the development of artificial intelligence. Huaxi pointed out that with the rapid development of AI and changes in overseas energy policies, the global gas and power sector is thriving, with strong demand for gas turbines. Leading domestic gas turbine technology companies are expected to benefit fully from this wave of overseas demand overflow, with orders expected to continue to be fulfilled. It is optimistic about core equipment suppliers such as HARBIN ELECTRIC, Shanghai Electric Group, and Dongfang Electric Corporation. UBS previously indicated a more optimistic outlook for the CHINA POWER market demand, forecasting an 8% growth in CHINA POWER demand from 2028 to 2030, doubling the earlier prediction.