Hong Kong stocks concept tracking | State Grid sets new record for electricity consumption, power sector drawing attention (with concept stocks)

The power load of the State Grid reached a historical high for two consecutive days, with a daily increase of over 70 million kilowatts, reaching a maximum load of 12.29 billion kilowatts, an increase of 4.1% compared to last year's peak. In hot regions such as Chongqing, Shaanxi, and Henan, the air conditioning load has significantly increased. Local electricity departments are increasing the use of cross-provincial power transmission and energy storage equipment to ensure reliable power supply. It is expected that the State Grid's maximum power load will remain above 12 billion kilowatts in the coming days. With the influence of rainfall and temperature drop in many areas this week, the overall power load will temporarily decline. On the evening of August 5th, the official WeChat account of State Grid Sichuan Province Power Company announced that due to the continuous hot weather, the demand for cooling load such as air conditioning has surged. At 9:21 pm on August 4th, the maximum power load of Sichuan power grid reached 73.56 million kilowatts, marking the third time this year to set a new historical high, an increase of 6% compared to last year's peak. Currently, the operation of the Sichuan power grid is stable and power supply is safe and reliable. In the afternoon of August 5th, the power load of Chongqing reached 30.28 million kilowatts, marking the fourth historical high this summer, with a 6.7% increase compared to last year's peak. China Securities Co., Ltd. believes that AI will drive global electricity demand growth. It is estimated that by 2030, the power consumption of data centers worldwide will more than double. Recently, overseas major companies have raised their capital expenditure expectations and continue to invest heavily in the AI field. The rapid growth in demand has led to an overall tight supply of transmission and distribution equipment. Solar Power Equipment Manufacturers have ushered in a development opportunity, with a sustained high prosperity in China's export of primary devices since 2022. From January to June 2025, the export growth rate of power transformers is expected to be over 40% compared to the same period last year, continuing the high growth trend. It is expected that overseas major companies will continue to invest heavily in AIDC related capital expenditure, and top domestic power equipment manufacturers will see the realization of related orders, with continued incremental elasticity being released. Related Hong Kong stocks in the power operation sector include: DATANG POWER (00991), CHINA RES POWER (00836), Huadian Power International Corporation (01071), Huaneng Power International, Inc. (00902), China Longyuan Power Group Corporation (00916), CGN POWER (01816), CHINA SUNTIEN (00956), CHINA POWER (02380), etc. Grid Equipment: Dongfang Electric Corporation (01072), Shanghai Electric Group (02727), HARBIN ELECTRIC (01133), SUN.KING TECH (00580), Goldwind Science & Technology (02208), etc.