10月电力设备出口数据跟踪：出口分化，亚非欧是重要支撑

Investment Rating - The report maintains a "Recommended" investment rating for the electric power equipment and new energy industry [2]. Core Insights - The export data for October shows a continued high demand for electrical equipment, particularly transformers, which saw a year-on-year increase of 53% in exports, totaling 4.43 billion yuan [2]. - The report highlights significant growth in exports across various regions, with Asia (+47%), Europe (+79%), Africa (+62%), Latin America (+75%), and North America (+18%) showing strong performance [2]. - The report emphasizes the expected doubling of global grid investment by 2030, projected to exceed 600 billion USD, indicating a favorable outlook for smart meters and transformers [2]. Summary by Sections Export Performance - In October, transformer exports reached 4.43 billion yuan, with a cumulative export of 37.64 billion yuan from January to October, reflecting a 30% year-on-year increase [2]. - The report notes that the export amounts from Asia accounted for 48%, Europe 20%, and Latin America 11% of the total exports in the first ten months [2]. Regional Analysis - The report details that in October, Asia's exports were 2.15 billion yuan, showing a year-on-year increase of 47% [2]. - Africa's exports reached 460 million yuan, with a year-on-year increase of 62% and a month-on-month increase of 96% [2]. - Europe saw exports of 880 million yuan, with a year-on-year increase of 79% and a month-on-month increase of 3% [2]. Investment Recommendations - The report suggests focusing on companies such as Haixing Electric (603556.SH), Samsung Medical (601567.SH), and others, which are expected to benefit from the overseas demand for smart meters and transformers [2].