Changes in Hong Kong stocks | Strong power equipment stocks, Harbin Electric (01133) pre-increased 60% year-on-year in the first half of the year AI computing power and upgraded global power grids with two-wheel drive

The Zhitong Finance App learned that power equipment stocks were strong. As of press release, Harbin Electric (01133) rose 24.59% to HK$16.19; Weichai Power (02338) rose 8.36% to HK$32.14; Weisheng Holdings (03393) rose 7.94% to HK$19.3; and Dongfang Electric (01072) rose 5.77% to HK$21.98.

According to the news, Harbin Electric announced that it expects the company to obtain a net profit of about RMB 1.7 billion attributable to the owners of the parent company for the first half year of 2026, an increase of 61.9% over the previous year. UBS believes that Harbin Electric is winning big against market expectations, plus the potential inclusion of the Hong Kong Stock Connect in August as an additional revaluation catalyst, now is the time to enter the market. According to the bank, the company is entering an upward structural profit and ROE cycle, and this cycle is accelerating in the first half of this year. The main supporting factors include rising capital expenditure for nuclear power and increased visibility of orders over the years; it has a strong position in the recovery of thermal power/hydropower/gas turbines.

It is worth noting that the global power grid upgrade combined with the explosion in demand for AI computing power is driving the power equipment industry into a new boom cycle. At the beginning of this year, the State Grid announced that fixed asset investment is expected to reach 4 trillion yuan during the “15th Five-Year Plan” period, an increase of 40% over the “14th Five-Year Plan” period, a record high. Furthermore, the explosion of AI computing power has triggered a disruptive restructuring of the global electricity supply and demand pattern. As the core position for global AIDC construction, the US is facing an unprecedented power gap crisis, and production capacity bottlenecks are expected to spill over opportunities in China's industrial chain.