Zhi Tong Cai Jing·2026-02-26 01:51Core Viewpoint - Dongfang Electric (600875) has seen its stock price increase by over 40% this month, with a current price of 36.24 HKD and a trading volume of 89.35 million HKD, indicating strong market interest and potential growth in the sector [1] Group 1: Industry Analysis - CITIC Securities reports that the AIDC (Artificial Intelligence Data Center) construction is entering a high growth phase, with an estimated CAGR of approximately 55% for electricity capacity demand driven by AI in the U.S. from 2025 to 2028, leading to a cumulative demand exceeding 150 GW in the next three years [1] - The current electricity shortage in North America highlights the trend of self-built power sources, with gas turbines being favored as the primary power source for AIDC due to their rapid response, high power adaptability, lower generation costs, and high reliability [1] Group 2: Company Insights - Dongfang Electric is expected to export three G50 units to Kazakhstan by 2025, with an estimated value of approximately 300 million RMB per unit and a gross margin expected to exceed 30%, significantly higher than traditional joint venture products [1] - Dongfang Electric is anticipated to accelerate its overseas expansion into high-end markets in Europe, the Middle East, and the U.S. by leveraging the AIDC "gas turbine" opportunity, aiming for both volume and profit growth in its gas turbine business as its supply chain and global after-sales service system improve [1]