GLMS SEC: Power & New Energy Sector Driven by "New Power System + Digital Infrastructure" Dual Narratives, Balancing New Growth and High-Quality Development

Stock News12-18

The power and new energy (PNE) sector in 2026 will revolve around dual narratives of "new power system construction and digital infrastructure," according to a research report by GLMS SEC. The sector is divided into two key themes: 1. **New Growth**: Includes high-potential fields like AIDC (AI-driven power equipment), solid-state batteries, and humanoid robotics. 2. **High-Quality Development**: Covers optimized segments such as energy storage, wind power, and solar PV, which have undergone profitability and structural improvements.

**2025 Performance Recap**: The PNE sector surged ~38.4% YTD as of December 11, significantly outperforming the CSI 300’s 15.7%. By Q3 2025, PNE-focused funds held 11.59% of portfolio allocations (+1.16Ppts QoQ), while PNE stocks accounted for 8.58% of A-share market cap (+1.25Ppts QoQ).

**2026 Outlook**: Under China’s "dual-carbon" strategy and rapid digital economy expansion, the sector’s growth will be shaped by policy, technology, and demand dynamics. GLMS SEC highlights: - **New Growth Drivers**: - *AIDC*: Grid upgrades and rising capex from global tech giants boost demand. - *Solid-State Batteries*: High energy density and safety advantages accelerate commercialization. - *Humanoid Robotics*: Maturity in AI and core components (e.g., actuators, sensors) driven by Tesla and Unitree. - **High-Quality Development**: - *Energy Storage*: Economic viability improves with capacity pricing/compensation; North American AI data centers open new markets. - *Wind Power*: Onshore profitability recovers; offshore expansion and global supply chain gains continue. - *Solar PV*: Regulatory curbs on cutthroat pricing show early results, with Q3 earnings recovery.

**Risks**: Policy delays, competition, raw material volatility, tech setbacks, overseas operational risks, and estimation errors.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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