On August 5, DONGFANG ELEC rose 3.01% in regular trading, trading at HK$23.92/share, with turnover of HK$88.23 million. The power equipment sector extended its recent strength, with peers rallying broadly — Harbin Electric up 5.64%, Dajin up 3.68%, and Goldwind up 2.02%.
On the news front, the power equipment sector continues to be driven by expanding AI data center electricity demand and rising global gas turbine prosperity. GE Vernova reported record-breaking Q2 gas turbine orders reaching US$24.2 billion, further validating the overseas power shortage thesis. Institutions noted that supply-demand mismatch in the gas turbine chain is intensifying. Meanwhile, the company recently confirmed that its Canadian G50 gas turbine project will serve data centers, and it is actively expanding gas turbine production capacity.
Citi maintained a Buy rating with a target price of HK$30, citing the company's most diversified product portfolio and naming it the top pick in China's power generation equipment sector. The broker noted that at 11.2x forward P/E for fiscal 2027, the valuation is not demanding, while year-to-date new orders grew 10% year-on-year with backlog reaching RMB150 billion.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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