板块掀涨停潮，新一轮电力超级周期要来了

Core Viewpoint - The Chinese power industry is expected to enter a sustained "super cycle" lasting 5-10 years, driven by increasing electricity demand and the impact of AI development on power supply [1][2]. Group 1: Market Trends - The electrical equipment sector experienced significant gains, with nearly 30 stocks hitting the daily limit or rising over 10% on November 5, and more than 15 stocks hitting the limit by noon on November 6 [1]. - UBS predicts that electricity demand in China will grow at an annual rate of 8% from 2028 to 2030, indicating a robust growth trajectory for the power sector [1]. - Goldman Sachs forecasts that by 2027, the power consumption of AI servers will be 50 times that of cloud servers five years ago, with global data center electricity demand expected to surge by 160% by 2030 [1]. Group 2: Challenges and Infrastructure - The core challenge for China is to meet electricity demand while achieving a low-carbon transition, which requires proactive measures [2][4]. - The "14th Five-Year Plan" emphasizes the importance of new energy infrastructure to support the growth of renewable energy and maintain competitiveness in the upstream sector [2]. - Key aspects of new energy infrastructure include low-carbon transformation of coal, the integration of electric vehicles as energy storage, hydrogen energy development, smart grid advancements, and large-scale energy storage deployment [3]. Group 3: Policy Support and Development - The inclusion of hydrogen energy in the "14th Five-Year Plan" reflects a strategic continuation of national energy transition efforts, aiming to scale up the hydrogen and fuel cell industry [4]. - The National Energy Administration reported a significant increase in electricity market transactions, with a total of 49,239 billion kilowatt-hours traded from January to September 2025, marking a 7.2% year-on-year growth [5]. - Investment in the power grid is set to exceed 1.2 trillion yuan over the next three years to address the mismatch between renewable energy supply in the northwest and demand in the eastern regions [5].