America's electricity shortage anxiety, State Power Investment Corporation plans to invest 200 billion yuan this year, leading to a surge in grid equipment. China Lithium Group hits the daily limit for three consecutive days.

(Source: Caijing)

          Guojin Securities pointed out that the anxiety over electricity shortages in the U.S., increased domestic investment, and a shift in market preferences have created a threefold resonance. As one of the most typical HALO assets, grid equipment is experiencing a sector-wide value reassessment, with a focus on: leading power equipment companies with strong overseas capabilities and stable market positions.            

On March 24, grid equipment saw a sharp rise in the afternoon, and by the time of publication, constituent stocks such as Li Group (002309.SZ) had achieved three consecutive daily limits, while Han Cable (002498.SZ), Great Wall Electric (600192.SH), and Xineng Taishan (000720.SZ) hit their daily limits as well. Jinlihua Electric (300069.SZ), Sanhui Electric (002857.SZ), Guangdian Electric (601616.SH), Kaifa Electric (300407.SZ), and Huashengchang (002980.SZ) also followed suit with gains.

In terms of news, on March 23, the State Power Investment Corporation held its first press briefing for 2026. The State Power Investment plans to invest 200 billion yuan this year, a year-on-year increase of 17%. Of this, 23 billion yuan is expected to be invested in the first quarter, realizing a year-on-year growth of 35%. Additionally, the State Grid recently released statistics showing that fixed asset investment from January to February reached 75.7 billion yuan, up 80.6% year-on-year, demonstrating significant foundational support and investment-driven effects for the grid.

Guojin Securities pointed out that the anxiety over electricity shortages in the U.S., increased domestic investment, and a shift in market preferences have created a threefold resonance. As one of the most typical HALO assets, grid equipment is experiencing a sector-wide value reassessment, with a focus on: leading power equipment companies with strong overseas capabilities and stable market positions.

CITIC Construction Investment believes that the electricity supply and demand situation in the U.S. is tense, and the electricity shortage is difficult to resolve. Currently, the North American power system faces long interconnection cycles, aging and retiring generation/grid equipment, and insufficient reserve capacity. The surge in AIDC demand is expected to lead to a power gap in the North American grid reaching 39.9, 51.8, and 67.8 GW from 2026 to 2028. CITIC Construction Investment believes that gas turbines, energy storage, and grid equipment will become the core beneficiaries, gradually becoming a reality. Currently, the market is only aware of the prosperity of gas turbines, but it is expected that in six months to a year, grid investment and energy storage construction will begin to continuously increase, with North American profit levels far exceeding other global regions, making related industrial chains resilient.

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