Zhongtai Securities: AI drives demand for power equipment to go overseas to open up space

The Zhitong Finance App learned that Zhongtai Securities released a research report saying that looking ahead to next year, the first is that the AI beta at home and abroad will continue, and changes in the AIDC industry will continue to be interpreted to drive stock price performance. Second, supply and demand for power equipment is tight in overseas markets represented by the US, and the domestic supply chain is expected to continue to expand overseas markets. Third, capital expenditure on domestic power grids has been growing steadily.

According to the report, capital support from overseas cloud vendors continues to increase, leading to a high increase in AIDC demand. On the other hand, as the total power of data centers increases and the load fluctuation rate increases, both in-cabinet power supplies and off-cabinet power supplies need to be upgraded, leading to industry trends. SST is in the initial stage of industrial transformation. The trend of the transformation of power supplies outside the cabinet from UPS to HVDC and SST has been determined, thus driving the SST industry chain from 0-1. PSU is the only segment of the AIDC power supply sector that definitively releases performance. If the volume exceeds expectations, it is expected to bring good stock price performance.

According to the bank, the AIDC power upgrade brings investment opportunities for traditional power equipment such as transformers and circuit breakers. Power grid going overseas: AIDC construction has brought about a high increase in electricity demand, and the Chinese and US regions have contributed major increases, thus driving the increase in global electricity demand, and domestic power equipment going overseas continues to be interpreted. Domestic power grids: Focus on UHV, the recovery of electricity meter tenders, and the resumption of distribution network tenders.