Huatai Securities: Ultra-high voltage acceleration is imminent, equipment manufacturers may significantly benefit

Huatai Securities research report pointed out that the national unified electricity market is accelerating, and ultra-high voltage and back-to-back projects are key to achieving interconnection of the national power grid. It is expected that the pace of advancement will accelerate soon, and it is expected that 5-6 ultra-high-voltage direct current, 3-4 ultra-high-voltage alternating current, and 5-6 back-to-back projects will be approved within the year. During the "Fifteenth Five-Year Plan" period, an average of 6-7 ultra-high-voltage projects is expected to start each year, and core equipment suppliers are expected to continue to see a boom in orders.