On July 31, DONGFANG ELEC rose 3.63% in regular trading, trading at 21.72 HKD/share, with turnover of 41.35 million HKD. The broader power equipment sector rallied collectively, with Harbin Electric up 6.40%, Dajin up 4.50%, Guoxia Tech up 4.04%, Goldwind up 3.88%, and SH Electric up 2.52%.
On the news front, institutional research reports recently highlighted that the gas turbine supply chain is benefiting from surging data center power demand and the broader energy transition, with supply-demand imbalances continuing to intensify. The company recently disclosed that its Canadian G50 gas turbine project is designated for data center use, while simultaneously advancing gas turbine production line expansion. Additionally, JPMorgan increased its holdings by approximately 1.113 million shares in late June, raising its stake to 7.08%, and Morgan Stanley added 5.31 million shares in early July at approximately 22.64 HKD per share.
Citi maintains a Buy rating on the stock with a 30 HKD target price, citing the company as its top pick in the China power generation equipment sector due to its diversified product portfolio, with new orders up 10% year-on-year through the first five months and a backlog of 150 billion RMB.
(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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