Core Viewpoint - The stock of Dongfang Electric (01072) has surged over 11%, reaching HKD 27.96 with a trading volume of HKD 269 million, driven by the increasing demand for natural gas power generation in the U.S. due to a construction boom in data centers [1][1]. Group 1: Company Performance - Dongfang Electric's stock rose by 11.39% as of the latest report, indicating strong market interest and confidence in the company's future prospects [1][1]. - The company has been collaborating with Mitsubishi Heavy Industries since the early 2000s to enhance its gas turbine manufacturing capabilities, which has positioned it well in the market [1][1]. Group 2: Industry Trends - The global energy monitoring agency reports that the U.S. is set to have over 29 GW of natural gas power generation capacity under construction by January 2026, more than doubling within a year [1][1]. - Domestic advancements in gas turbine technology are expected to provide effective support to the U.S. electricity supply chain, particularly as the country faces power shortages exacerbated by data center construction [1][1]. - Tianfeng Securities projects that Dongfang Electric's market share in the gas-electric sector will reach 70% by October 2025, with the localization rate increasing from 46.5% at the start of the partnership to an anticipated 90% by the end of 2025 [1][1].

资金流向方面，国企改革（399974）指数成份股当日主力资金净流入合计74.37亿元，游资资金净流出 合计38.4亿元，散户资金净流出合计35.97亿元。成份股资金流向详情见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 证券之星消息，2月9日，国企改革（399974）指数报收于1994.88点，涨1.67%，成交1603.78亿元，换 手率0.75%。当日该指数成份股中，上涨的有87家，东方电气以10.02%的涨幅领涨，下跌的有12家，中 海油服以0.83%的跌幅领跌。 国企改革（399974）指数十大成份股详情如下： ...

东方电气（600875）(01072)发布公告，公司于2025年12月4日披露了《高级管理人员减持股份计划公 告》(以下简称《减持计划公告》(公告编号：2025-058)。公司高级副总裁王军先生、副总裁胡修奎先 生、副总裁但军先生因个人资金需求，自减持计划公告披露之日起15个交易日后的3个月内(有关法律、 行政法规、规范性文件规定的不得减持股份的期间除外)，通过上海证券交易所证券交易系统以集中竞 价交易方式减持公司股份。 截至本公告披露日，王军先生通过集中竞价交易方式合计减持公司股份数量为6200股，合计减持股份数 量占公司总股本的0.00018%;胡修奎先生通过集中竞价交易方式合计减持公司股份数量为1.62万股，合 计减持股份数量占公司总股本的0.00047%;但军先生通过集中竞价交易方式合计减持公司股份数量为 7500股，合计减持股份数量占公司总股本的0.00022%。 本次减持计划已实施完毕。 ...

截至本公告披露日，王军先生通过集中竞价交易方式合计减持公司股份数量为6200股，合计减持股份数 量占公司总股本的0.00018%;胡修奎先生通过集中竞价交易方式合计减持公司股份数量为1.62万股，合 计减持股份数量占公司总股本的0.00047%;但军先生通过集中竞价交易方式合计减持公司股份数量为 7500股，合计减持股份数量占公司总股本的0.00022%。 智通财经APP讯，东方电气(01072)发布公告，公司于2025年12月4日披露了《高级管理人员减持股份计 划公告》(以下简称《减持计划公告》(公告编号：2025-058)。公司高级副总裁王军先生、副总裁胡修奎 先生、副总裁但军先生因个人资金需求，自减持计划公告披露之日起15个交易日后的3个月内(有关法 律、行政法规、规范性文件规定的不得减持股份的期间除外)，通过上海证券交易所证券交易系统以集 中竞价交易方式减持公司股份。 本次减持计划已实施完毕。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列東方電氣股份有限公司在上海證券交易所網站(www.sse.com.cn)刊 登之《東方電氣股份有限公司高級管理人員減持股份結果公告》，僅供參閱。 承董事會命 東方電氣股份有限公司 海外監管公告 高級管理人員減持股份 結 果 公 告 聯席公司秘書 中國‧四川省‧成都 2026年2月9日 於 本 公 告 刊 發 日 期，本 公 司 董 事 如 下： 非 執 行 董 事： 羅乾宜及張少峰 董 事： 張彥軍及孫國君 獨 立 非 執 行 董 事： 黃 峰、曾 道 榮 及 陳 宇 – 1 – 证券代码：600875 证券简称：东方电气 公告编号：2026-002 馮 勇 东方电气股份有限公司 高级管理人员减持股份结果公告 本公司董事会、全体董事及相关股东保证本公告内容不存 ...

Group 1 - The announcement from Dongfang Electric on February 9 indicates that several individuals have reduced their shareholdings in the company through centralized bidding transactions [1] - Wang Jun reduced his holdings by 6,200 shares, accounting for 0.00018% of the company's total share capital [1] - Hu Xiukui reduced his holdings by 16,200 shares, representing 0.00047% of the total share capital [1] - But Jun reduced his holdings by 7,500 shares, which is 0.00022% of the total share capital [1] - The share reduction plan has been fully implemented [1] Group 2 - The article highlights the trend of young individuals, particularly those born in the 2000s, taking on significant roles in A-share companies, raising concerns about their ability to meet investor expectations [1]

证券代码：600875 证券简称：东方电气 公告编号：2026-002 东方电气股份有限公司 高级管理人员减持股份结果公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 高级管理人员持股的基本情况 东方电气股份有限公司（以下简称"公司）于 2025 年 12 月 4 日披露了《高 级管理人员减持股份计划公告》（以下简称《减持计划公告》（公告编号：2025-058）。 公司高级副总裁王军先生、副总裁胡修奎先生、副总裁但军先生因个人资金需求， 自减持计划公告披露之日起 15 个交易日后的 3 个月内（有关法律、行政法规、 规范性文件规定的不得减持股份的期间除外），通过上海证券交易所证券交易系 统以集中竞价交易方式减持公司股份。王军先生减持不超过 6250 股、胡修奎先 生减持不超过 16250 股、但军先生减持不超过 7500 股。以上人士减持股数均不 超过其本人上年末持股总数的 25%，减持价格将按照减持实施时的市场价格确定。 2 减持计划的实施结果情况 截至本公告披露日，王军先生通过集中竞价交易方式 ...

Summary of Key Points Core Viewpoint - Dongfang Electric (600875.SH) has disclosed the completion of a share reduction plan by key individuals, indicating potential changes in shareholder structure and market sentiment [1] Group 1: Share Reduction Details - Mr. Wang Jun reduced his shareholding by a total of 6,200 shares, representing 0.00018% of the company's total share capital [1] - Mr. Hu Xiukui reduced his shareholding by a total of 16,200 shares, representing 0.00047% of the company's total share capital [1] - Mr. Jun Jun reduced his shareholding by a total of 7,500 shares, representing 0.00022% of the company's total share capital [1] Group 2: Implementation Status - The share reduction plan has been fully implemented as of the announcement date [1]

Summary of Key Points Core Viewpoint - Dongfang Electric (600875.SH) has disclosed the completion of a share reduction plan by key individuals, indicating a potential shift in insider sentiment towards the company's stock [1] Group 1: Share Reduction Details - Mr. Wang Jun has reduced his holdings by a total of 6,200 shares, which represents 0.00018% of the company's total share capital [1] - Mr. Hu Xiukui has reduced his holdings by a total of 16,200 shares, accounting for 0.00047% of the company's total share capital [1] - Mr. Jun Tong has reduced his holdings by a total of 7,500 shares, which is 0.00022% of the company's total share capital [1] Group 2: Implementation Status - The share reduction plan has been fully implemented as of the date of the announcement [1]

Investment Rating - The report suggests a positive investment outlook for the North American electricity sector, particularly focusing on gas turbines and related technologies due to the ongoing electricity shortage driven by AI data center demands [2][6][30]. Core Insights - The North American electricity shortage is characterized by a contradiction between the non-linear growth of AI electricity demand and the aging infrastructure of the power grid. The demand side sees a surge in AIDC projects, while the supply side faces challenges with declining stable supply and regional electricity shortages [2][6][24]. - The report highlights that gas turbines are currently the optimal solution for AIDC self-built power generation, with gas internal combustion engines, SOFC, and diesel generation serving as effective supplements [2][37]. - The North American Electric Reliability Corporation (NERC) predicts an average peak electricity gap of over 20GW from 2027 to 2030, with significant risks in Texas, the Mid-Atlantic, the Midwest, and California [2][32]. Summary by Sections Section 1: Current Electricity Shortage in North America - The electricity shortage is driven by the non-linear growth of AI demand and the aging power grid infrastructure. The electricity consumption in the U.S. is expected to reach historical highs in 2025-2026, with data centers' planned installed capacity increasing from 5GW in early 2023 to over 245GW by October 2025 [6][19]. - The average lifespan of power infrastructure in the U.S. is around 35-40 years, leading to frequent outages and an inability to meet the reliability demands of AIDC [15][19]. Section 2: Power Source Selection - Gas turbines are identified as the primary power source, with gas internal combustion engines, SOFC, and diesel generation as supplementary options. The report emphasizes the efficiency and cost-effectiveness of gas turbines, which can achieve over 60% efficiency and have the lowest cost per kilowatt-hour [2][37]. - The report also discusses the expected increase in gas turbine installations, with global new installations projected to approach previous cycle peaks by 2025, driven by the surge in AIDC electricity demand [48][52]. Section 3: Investment Recommendations - The report recommends focusing on various technologies due to the ongoing electricity shortage, suggesting investments in gas turbines, gas internal combustion engines, SOFC, and diesel generation. Specific companies are highlighted for potential investment opportunities, including Jerry Holdings, Yingliu Co., Dongfang Electric, and others [2][37][39].