HK Stock Market Move | HARBIN ELECTRIC (01133) rose more than 5% as AIDC construction brings a large amount of electricity demand. The gas turbine industry is experiencing significant growth.

HARBIN ELECTRIC (01133) rose more than 5%, up 4.81% at the time of publication, closing at HK$14.37 with a turnover of HK$25.954 million. On the news front, recently, Hui Bo Research released a research report pointing out that the gas turbine industry is experiencing significant growth due to the surge in global demand for artificial intelligence computing power, the transformation of "oil to gas" in the Middle East, and the increasing demand for renewable energy peak shaving. In the second quarter of 2025, global new orders increased by 38% year-on-year to 21GW, with major manufacturers' orders already scheduled until 2028, and production capacity showing a continuously tight situation. According to the IEA forecast, by 2026, the power demand for global data centers, AI, and cryptocurrency will increase significantly from 460TWh in 2022 to 620-1050TWh. International giants such as GE Vernova have already received large-scale gas turbine orders for data centers, and demand prosperity is accelerating to domestic component enterprises. Soochow stated that the construction of AI data centers brings a large amount of electricity demand, and high requirements for electricity reliability and stability. Gas turbine power generation, with the characteristics of rapid construction cycle, stable electricity output, and low requirements for power generation resources, is expected to become the best short-term solution for data center power supply. The global gas turbine market is mainly dominated by U.S. companies such as Siemens, GE, Mitsubishi Heavy Industries, and Caterpillar (subsidiary Solar), with ample room for domestic substitution. It is recommended to pay attention to the potential for domestic brand substitution.