Core Viewpoint - The report from UBS indicates a more optimistic outlook for China's electricity market demand, projecting an 8% growth from 2028 to 2030, which is double the previous forecast [1] Group 1: Stock Performance - Several power equipment stocks have strengthened, with Harbin Electric rising by 13.79% to HKD 13.53, Dongfang Electric increasing by 11.24% to HKD 20.38, and Shanghai Electric up by 5.54% to HKD 4.95 [1] Group 2: Market Drivers - UBS attributes the increased demand forecast to structural drivers such as AI data centers, exports, and electrification, with expectations that these factors will significantly exceed earlier predictions [1] - The report reflects enhanced confidence in the acceleration of AI data center construction, increased power export growth, and faster electrification, which will benefit capital expenditures in power equipment and grid starting next year [1] Group 3: Future Industry Developments - The Central Committee of the Communist Party of China has proposed forward-looking layouts for future industries, promoting nuclear fusion energy as a new economic growth point [1] - Everbright Securities notes that since 2025, China's nuclear fusion sector has entered a rapid development phase in technology breakthroughs and industrial layout, with multiple technological routes advancing simultaneously [1] - The domestic market is gradually entering a phase of accelerated release for controllable nuclear fusion project bidding and engineering construction, indicating promising long-term development [1]