news flash·2025-07-15 00:15Core Viewpoint - The report from Huatai Securities indicates that the acceleration of ultra-high voltage (UHV) approvals and construction will likely enhance the market share of leading companies in the sector under the collective procurement model for distribution networks [1] Group 1: Investment and Construction Trends - In the first five months of this year, total investment in China's power grid reached 204 billion yuan, representing a year-on-year increase of 19.8% [1] - The strong demand for main network bidding is evident, with the bidding amount for the first three batches in 2025 reaching 54.064 billion yuan, an increase of 24.8% year-on-year [1] Group 2: Project Approvals and Market Dynamics - Recently, two ultra-high voltage direct current lines have been approved, with multiple projects expected to be operational within the year [1] - The third equipment bidding announcement has already been published, indicating a faster pace of approvals and construction [1] Group 3: Future Performance Expectations - Companies in the sector are expected to have support from non-UHV main network orders, while the acceleration of UHV construction will further enhance their market share under the collective procurement model [1] - It is anticipated that the performance of these companies will maintain relatively rapid year-on-year growth in 2025-2026 [1]