HK Stock Market Move | CHONGQING M&E(02722) rose more than 7%, American technology giants will promise self-power supply AIDC boost demand for high-horsepower engines

CHONGQING M&E (02722) rose more than 7%, reaching a high of HKD 3.27, setting a new historical high. As of the time of writing, it has risen by 6.56%, trading at HKD 3.25, with a turnover of 25.99 million Hong Kong dollars. On the news front, it was reported that tech giants such as Amazon, Google, Meta, Microsoft, xAI, Oracle, and OpenAI will gather at the White House on March 4th to formally sign the "Electricity Payer Protection Commitment" announced by Trump in the State of the Union address. According to the commitment, the above-mentioned companies will build, introduce, or procure their own power supply for new AI data centers, instead of relying on the existing public power grid, in order to avoid passing energy costs on to ordinary American households. Industrial previously released a research report stating that Chongqing Hitachi Energy is one of Hitachi's main global production bases for ultra-high voltage transformers above 750 kV, benefiting from overseas high-voltage grid construction. Chongqing Cummins is the only large bore engine enterprise for Cummins in China, and due to industry supply constraints, the company is actively expanding its production capacity. It is expected that the use of large horsepower engines in data centers and other fields will continue to grow in the coming years.