Power Grid Equipment Stocks Surge: Baoding Tianwei Hits Limit-Up in 5 Minutes, Canergy Power Gains 30%

Deep News11-05

On November 5, the power grid equipment sector saw a collective surge, with Baoding Tianwei Baobian Electric Co.,Ltd. (600550.SH) hitting the daily limit-up in just five minutes. Canergy Power (920299.BJ) soared 30%, while Zhongzhi Technology (301361.SZ), Zhongneng Electric (300062.SZ), and Jinpan International (688676.SH) all rose by 20%. Other top gainers included Yineng Power (920046.BJ), Jinguan Electric (688517.SH), Shuangjie Electric (300444.SZ), and Xinte Electric (301120.SZ), all climbing over 10%. Stocks like Sun Cable (002300.SZ), Morn Electric (002451.SZ), and Shenma Electric (603530.SH) also hit limit-up.

The rally followed remarks by Microsoft CEO Satya Nadella and OpenAI CEO Sam Altman, who highlighted that the AI industry's current challenge is not an oversupply of computing power but a shortage of electricity to support GPU operations.

Separately, reports from the 7th East Asia Summit Clean Energy Forum in Fuzhou, Fujian, revealed that China and ASEAN have strengthened power connectivity, with 16 cross-border transmission lines already completed. Yi Yuechun, General Manager of the HydroChina Corporation, noted, "China and ASEAN have collaborated on over 190 power and grid projects, with total investments exceeding $92 billion. From 2021 to 2025, cross-border electricity trade between China and ASEAN has grown steadily, becoming a major market for China’s power exports."

The *2026–2030 ASEAN Energy Cooperation Action Plan* aims to raise the share of renewable energy in ASEAN's power mix to 45% by 2030, with an incremental capacity of 105GW over the next five years. China's advanced renewable energy technologies position it for expanded cooperation with ASEAN, particularly in energy storage and low-carbon grid development.

Ping An Securities highlighted the robust growth of China’s wind power exports, with further potential ahead. Global energy storage demand is expected to grow 40–50% by 2026, driven by markets in Europe, the U.S., the Middle East, Africa, and Asia-Pacific. Huatai Securities emphasized policy support for building a new energy system, noting the dual focus on renewable energy expansion and electrification. The integration of renewables with storage is seen as key to stabilizing power output and reducing emissions, while distributed wind power could gain traction as costs decline. Grid equipment leaders are recommended for investment due to expected capacity upgrades.

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