Power equipment stocks are exhibiting notable activity in today's trading session.
DONGFANG ELEC (ASX: 01072) shares have risen 5.82% to HK$23.28.
HARBIN ELECTRIC (ASX: 01133) shares are up 5.31%, trading at HK$17.44.
SH ELECTRIC (ASX: 02727) shares have gained 2.27% to HK$3.34.
WEICHAI POWER (ASX: 02338) shares are up 2.26% at HK$33.54.
This market movement follows a report that GE Vernova Inc. (GEV) saw its second-quarter revenue increase by 22% year-over-year to $11.1 billion, with a record order backlog reaching $24.2 billion.
In particular, the scale of its gas turbine orders has reached a new high, with the company's backlog of orders and reservation agreements totaling 116GW by the end of the second quarter.
According to the company's performance guidance, it has completed a production capacity ramp-up from 17GW to 20GW and expects to further increase capacity to 24GW by 2028.
Additionally, through lean production and equipment investment, the company plans to boost its capacity to 30GW by 2030.
In a related development, Jereh disclosed last night that it secured a massive new gas turbine generator set order in North America, with a total value approaching 10 billion yuan, which further validates the robust demand in the gas turbine sector.
Analysis from Huatai Securities suggests that the global data center boom is expected to sustain the overseas power shortage theme.
Previously, Orient Securities noted that domestic gas turbine orders are seeing breakthroughs in multiple areas, and it anticipates that companies in the gas turbine and gas generator supply chain will accelerate their expansion into international markets.
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