Core Viewpoint - The A-share market experienced a significant downturn, but the high-voltage power transmission sector saw a remarkable surge due to three powerful driving forces: substantial investment plans, accelerated domestic substitution, and expanding overseas markets [1][3][5]. Investment Plans - The State Grid's "14th Five-Year Plan" outlines a fixed asset investment of 4 trillion yuan in the power grid sector over the next five years, representing a 40% increase from the previous period. Over 60% of this investment will be directed towards ultra-high voltage (UHV) and inter-regional transmission projects, translating to at least 2.4 trillion yuan flowing into the UHV and related industries [3][5]. Domestic Substitution - There is a clear policy directive to increase the domestic production rate of core UHV equipment from 90% to 98% by 2026, with procurement ratios for domestic equipment rising from 30% to over 50%. This shift is expected to redirect significant orders and profits from foreign manufacturers to domestic companies, benefiting leading firms in high-voltage switches, converters, and transformers [5][10]. Overseas Market Expansion - China's UHV technology is leading globally, with increasing demand for power grid upgrades and energy transitions worldwide. The "Belt and Road" initiative is facilitating the export of UHV technology, exemplified by successful projects like the Belo Monte UHV project in Brazil [6][7]. Market Performance - On February 2, the UHV sector saw a collective surge in stock prices, with companies like Electric Power Research Institute and Anke Intelligent Electric experiencing gains of 19.95% and 16.56%, respectively. Other companies in the sector also reported significant increases, with many stocks hitting their daily limit [2][10]. Industry Dynamics - The global market for large power transformers is currently facing a structural shortage, with a supply gap of 30%. The lead time for orders has extended from an average of 18 months in 2021 to over four years now, creating a favorable environment for Chinese companies with full industrial chain capabilities [7][10]. Order Growth - From the second half of 2025, several UHV equipment companies have reported significant year-on-year increases in contract amounts, indicating a strong order backlog that will support revenue growth in 2026 and 2027 [17]. Key Players - Major companies in the UHV sector include China Western Electric, which holds a dominant position in the market with over 40% share in core equipment like converters and GIS, and TBEA, recognized as a global leader in UHV transformers [15][16]. Investment Sentiment - Institutional investors, particularly social security funds, have heavily invested in key players like Anke Intelligent Electric and China Western Electric, indicating strong confidence in the sector's growth potential [10][14]. Conclusion - The convergence of substantial investment, domestic substitution policies, and international market opportunities is positioning the UHV sector for robust growth, attracting significant market interest and investment [1][3][5].

Core Viewpoint - The stock of Hangdian Co., Ltd. experienced an abnormal trading fluctuation, with a cumulative closing price increase of over 20% on January 30 and February 2, 2026, prompting the company to issue a statement regarding its operational status and financial performance [1] Group 1 - The company confirmed that its daily operations are normal and there have been no significant changes [1] - As of the date of the announcement, the company has verified that there is no undisclosed significant information [1] - The company previously announced an expected net loss of approximately 300 million yuan for the fiscal year 2025, including a net profit attributable to shareholders of the listed company of around -300 million yuan [1]

Core Viewpoint - The pumped storage concept is gaining strength in the market, with several companies experiencing significant stock price increases on February 2nd [1] Group 1: Company Performance - ShunNa Co., Ltd. (000533) saw its stock price rise to 9.22, with a gain of 10.02% [1] - Hangdian Co., Ltd. (603618) reached a stock price of 9.94, reflecting a 9.96% increase [1] - American Technology (688676) achieved a stock price of 97.85, marking a 6.92% rise [1] - Shenling Environment (301018) recorded a stock price of 68.78, with a 4.98% increase [1] - Southern Power Storage (600995) had a stock price of 14.18, up by 4.65% [1] - Guodian Nanzi (600268) reached a stock price of 13.34, reflecting a 4.38% increase [1] - XJ Electric (000400) saw its stock price at 31.10, with a 4.26% rise [1] Group 2: Market Trends - The early morning of February 2nd witnessed a strong performance in the pumped storage sector, with stocks like ShunNa and Hangdian hitting the daily limit [1] - Other companies such as Jinpan Technology and Shenling Environment also experienced upward movement in their stock prices [1]

Group 1 - The core business of the company is the research, production, sales, and service of electric wires and cables, as well as related products such as optical fiber preform, optical fiber, optical cable, and copper foil [3][4] - The company is one of the few in China with the capability to produce large cross-section high-voltage and ultra-high-voltage power cables [4] - The stock has strong themes including ultra-high voltage, optical communication, and ultra-thin copper foil [5] Group 2 - The recent rise in the stock price is driven by the strengthening of the ultra-high voltage concept, as the company is a major supplier for the State Grid and Southern Power Grid, producing cables for 500kV and above [5] - The optical communication sector is active, with the company having an integrated industrial chain from "optical preform - optical fiber - optical cable," benefiting from the rising optical communication concept [5] - The ultra-thin copper foil project for new energy vehicles has begun trial production, with products ranging from 4.5 microns to 8 microns, contributing to the stock's upward trend [5] Group 3 - From a technical perspective, the stock has seen a 21% increase over two trading days, with the formation of a golden cross in moving averages and MACD indicating potential for further upward movement [6] - There has been a net inflow of 87.346 million yuan in main funds, suggesting strong buying interest [6] - The stock is expected to maintain upward momentum in the short term, warranting continued attention [7]

杭州电缆股份有限公司 关于股票交易异常波动公告 证券代码：603618 证券简称：杭电股份 编号：2026-005 经公司自查并向控股股东、实际控制人书面发函查证，截至本公告披露日， 公司及控股股东、实际控制人不存在应披露而未披露的重大信息，包括但不限于 重大资产重组、股份发行、收购、债务重组、业务重组、资产剥离、资产注入、 股份回购、股权激励、破产重整、重大业务合作、引进战略投资者等重大事项。 本公司董事会及全体董事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： 一、股票交易异常波动的具体情况 公司股票于 2026 年 1 月 30 日、2 月 2 日连续两个交易日内日收盘价格涨幅 偏离值累计超过 20%，根据《上海证券交易所交易规则》的有关规定，属于股票 交易异常波动情况。 二、公司关注并核实的相关情况 杭州电缆股份有限公司（以下简称"公司"、"本公司"）股票于 2026 年 1 月 30 日、2 月 2 日连续两个交易日内日收盘价格涨幅偏离值累计超 过 20%，根据《上海证券交易所交易规则》的有关规定，属于股票交易 异常波动情 ...

Group 1 - The optical fiber and cable sector is active, with companies such as Tongding Interconnection, Hangdian Co., and Hancable reaching the daily limit increase [1] - Tongguang Cable and Changfei Fiber are among the stocks with significant gains [1]

Group 1 - The A-share market indices continued to decline, but the power grid equipment sector showed strong performance, with the only power grid equipment ETF (159326) rising by 2.38% and achieving a trading volume of 1.239 billion yuan [1] - Major stocks in the sector, including Double Star Electric, Electric Power Research Institute, and others, reached their daily limit, with Ankao Zhidian rising over 15% and Tongguang Cable increasing over 13% [1] - The global AI computing power construction is entering an explosive growth phase, with high-power and stable power supply becoming essential for computing clusters, leading to a surge in demand for power transformers [1] Group 2 - In regions like Guangdong and Jiangsu, many transformer factories are operating at full capacity, with some orders for data center-related businesses scheduled until 2027 [1] - Elon Musk highlighted the explosive growth in power demand for AI supercomputing clusters and data centers, indicating a critical shortage of high-performance transformers [1] - According to Guojin Securities, the export of power transformers has maintained a high level, with a significant increase in exports of power transformers compared to distribution transformers, reaching 5.5 billion USD with a year-on-year growth of 49% [1] Group 3 - The power grid equipment ETF (159326) tracks the CSI Power Grid Equipment Theme Index, with a strong representation in sectors such as transmission and transformation equipment, grid automation equipment, and cable components [2] - The smart grid sector has a high weight of 88%, and ultra-high voltage equipment accounts for 65%, both being the highest in the market [2]

*ST万方（维权）连续15日跌停，*ST精伦连续5日跌停，*ST春天（维权）、萃华珠宝等连续3日跌停， 鹏欣资源、*ST海华等连续2日跌停，深康佳Ａ、*ST太和（维权）等跌停。 MACD金叉信号形成，这些股涨势不错！ 2月2日午间，A股半日下来共有42只涨停股、83只跌停股。特高压概念活跃，白云电器、杭电股份2连 板，保变电气、汉缆股份等涨停；智能电网概念走强，双杰电气、森源电气等涨停。 连板股方面，浙文互联10天5板，ST京蓝（维权）6天4板，横店影视、万丰股份等3连板，珠江钢琴、 新华百货3天2板，利通电子、通鼎互联等2连板，天普股份（维权）、黄河旋风等涨停。 ...

Core Viewpoint - The power grid equipment sector is experiencing a strong performance, with multiple companies reaching their daily price limit increases [1] Group 1: Market Performance - The following companies have hit their daily price limit: Shuangjie Electric, Senyuan Electric, Baobian Electric, Sanbian Technology, Guangdian Electric, Baiyun Electric, Dalian Electric Porcelain, Hangdian Co., and Hancable [1] - Hongxiang Co. is also noted for significant gains, although it is currently involved in a rights protection issue [1]

Core Viewpoint - Hangzhou Dianzi Co., Ltd. (603618) announced that as of the disclosure date, the total external guarantees provided by the company and its subsidiaries amount to 1.9 billion yuan, which includes the current guarantee [1] Group 1 - The total amount of guarantees provided by the company for its subsidiaries is 1.9 billion yuan, accounting for 63.24% of the company's audited net assets for the year 2024 [1] - The remaining balance of guarantees provided by the company to its subsidiaries is 1.1789724 billion yuan, representing 39.24% of the company's audited net assets for the year 2024 [1] - There are no overdue guarantees reported by the company [1]