HK Stock Market Move | Part of the power equipment stocks rallied. HARBIN ELECTRIC (01133) rose nearly 14%, while Dongfang Electric Corporation (01072) rose over 11%.

Some power equipment stocks strengthened, as of press time, HARBIN ELECTRIC (01133) rose 13.79% to HKD 13.53; Dongfang Electric Corporation (01072) rose 11.24% to HKD 20.38; Shanghai Electric Group (02727) rose 5.54% to HKD 4.95. On the news front, a research report released by UBS stated that it is more optimistic about the market demand for CHINA POWER, forecasting an 8% growth in demand from 2028 to 2030, double the previous estimate. Although the bank has already identified artificial intelligence data centers, exports, and electrification as structural driving factors, the expected impact of these factors exceeds the original expectations. The bank's adjustment reflects increased confidence in the construction of artificial intelligence data centers, accelerated growth in power exports, and increasing electrification, which will benefit capital expenditures in power equipment and power grids starting next year. The bank's top picks are HARBIN ELECTRIC and CGN POWER, as well as Dongfang Electric Corporation. It is worth noting that the "Suggestions of the CPC Central Committee on Formulating the Fifteenth Five-Year Plan for National Economic and Social Development" proposed forward-looking layout of future industries and promoting nuclear fusion energy as new economic growth points. EB SECURITIES believes that since 2025, China's nuclear fusion field has entered a period of rapid development in technological breakthroughs and industrial layout. Looking ahead, various technology routes, such as the HL-2A, STAR-I, and Dr. Zhang Jie's team's laser fusion energy plant, are advancing concurrently. Domestically, the country is gradually entering an accelerated period of bidding and construction for controllable nuclear fusion projects, and long-term development is promising.