HK Stock Market Move | CHONGQING M&E (02722) rose more than 12%, benefiting from its two major growth drivers, data center and power grid construction.

Chongqing M&E (02722) surged more than 12% during trading hours, with a 10.49% increase to HK$3.37 by the time of writing, with a trading volume of 90.431 million Hong Kong dollars. On the news front, the three major regional electricity grid operators in the United States recently received approval for a total of $75 billion transmission expansion projects, with the core being the construction of a batch of 765 kV ultra-high voltage lines, which will become the largest and most powerful power lines in US history. EB Securities believes that the power shortage in the US has led to an increase in demand for power system reliability, and gas turbines, power equipment, and other directions are expected to benefit fully. Industrial previously pointed out that Chongqing M&E also holds stakes in Chongqing Cummins and Chongqing Hitachi Energy, with the two major growth sectors expected to benefit from data centers and power grid construction in the future.