Zheng Quan Shi Bao·2026-01-14 10:51Group 1: AI Data Center and Power Supply Chain - The global AI data center construction wave is facing a significant "power bottleneck," presenting historic opportunities for Chinese power supply chain companies with advantages in technology, cost, and delivery speed [1] Group 2: A-Share Market Performance - On January 14, the A-share market experienced a volatile trading session, with the Shanghai Composite Index initially rising over 1.2% before closing down 0.31% [2][3] - The total trading volume of A-shares reached 3.99 trillion yuan, setting a new historical record, with the trading volume maintained above 3 trillion yuan for four consecutive trading days [2] Group 3: Financing Margin Adjustment - The China Securities Regulatory Commission approved an adjustment to the financing margin ratio for new financing contracts, increasing the minimum margin from 80% to 100% [2] Group 4: Electric Grid Equipment Sector - The electric grid equipment sector has shown strong performance since 2026, with the sector index rising 10.2% year-to-date, outperforming the Shanghai Composite Index by over 6 percentage points [7] - The demand for electricity from AI data centers is closely linked to the rising interest in the electric grid equipment industry, with the International Energy Agency projecting that data center electricity consumption will double to approximately 945 TWh by 2030 [8] Group 5: Investment Projections - Goldman Sachs estimates that global investments in digital infrastructure and energy systems driven by AI will reach $5 trillion over the next decade, with electric grid equipment being a direct beneficiary of this investment wave [9] - During the "14th Five-Year Plan" period, electric grid infrastructure investment is expected to reach 3.8 trillion yuan, with a focus on ultra-high voltage, digitalization, and interconnectivity [10] Group 6: Stock Performance and Valuation - Among electric grid equipment stocks, 19 stocks with low valuations and active trading have been identified, with 9 stocks having a rolling P/E ratio below 20 [11] - The stock of Xuchang Electric has seen a significant increase in average daily trading volume, with a 142.41% increase in January [13] Group 7: Financing and Market Activity - In January, the stock of Zhengtai Electric has attracted a net financing buy of 1.47 billion yuan, indicating strong market interest [15]