Jinwu Financial News | Power equipment stocks are trending strongly. Northeast Electric (00042) rose 11.54%, Shanghai Electric (02727) rose 7.55%, Goldwind Technology (02208) rose 2.58%, and Harbin Electric (01133) rose 2.32%.
The National Energy Administration released national power industry statistics for January-September. The year-on-year growth rate of completed investment in power grid projects was over 20%. By the end of September, the country's cumulative installed power generation capacity was about 3.16 billion kilowatts, an increase of 14.1% over the previous year.
Guojin Securities said that in terms of going overseas, orders for power transformers, high voltage switches, and smart meters signed in '23 are expected to enter the centralized delivery stage; on the domestic side, UHV and power transmission and transformation projects are being intensively tendered, DC projects are being delivered one after another, and there is room for improvement in the off-grid new energy+ industry, reaffirming opportunities at home and abroad to exceed expectations. The bank recommends three main directions: power equipment going overseas, UHV line and main network construction, distribution network transformation & off-grid.
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