Core Insights - The bidding process for AIDC is starting, with a price increase of 100,000 yuan per unit for diesel generators, potentially reaching 3.3-3.5 million yuan per unit by the end of the year, up from 2.6 million yuan at the beginning of the year [1] - Strong demand from the Chinese market has led Nvidia to order 300,000 H20 units from TSMC, indicating an upward revision in supply for the year [1] - North American data center capital expenditures (Capex) are expected to exceed $300 billion for the year, with robust demand for diesel backup power [1] - The new round of bidding is expected to catalyze price increases and improve valuations in the diesel generator sector [1][2] Bidding and Pricing Trends - A new round of bidding is anticipated to begin sooner than expected, with domestic prices likely to rise further [4] - Specific clients, such as Z and A, are expected to initiate bids with significant volumes, exceeding 4 billion yuan [3][4] Supply and Demand Dynamics - The supply-demand relationship is expected to remain tight through 2026, with a projected global growth rate of 50%-60% [5] - Major overseas companies like SoftBank, Amazon, Oracle, and Facebook are investing nearly $1 trillion in AI and data center projects, which will impact diesel generator delivery cycles [5] - Foreign investment expansion is limited due to environmental assessments and constraints in upstream production [6] Pricing Strategy and Profitability - The pricing strategy is driven by foreign companies, leading to a chain reaction of price increases across the industry [7] - Weichai Heavy Machinery is expected to deliver 1,000 and 2,000 units in 2025 and 2026, respectively, with a profit margin of 270,000-280,000 yuan per unit [7] Related Companies - Companies involved in the diesel generator sector include Weichai Power (02338) and Chongqing Machinery (02722) [8]
大厂AIDC招标近期开始 柴油发电机或再涨价（附概念股）
Zhi Tong Cai Jing·2025-07-30 01:34