电力设备行业周报：AI投资旺盛，相关电力设备有望受益

Investment Rating - The report maintains a "Recommended" rating for the power equipment sector [3][60]. Core Viewpoints - The report highlights that AI investments are robust, and related power equipment is expected to benefit from the growth in data center business volumes [12][60]. - The energy demand from data centers is increasing significantly due to the penetration of big data technologies, impacting the development of data center energy storage [5][12]. - In 2023, the global number of data center racks is approximately 25.5 million, with a new installed capacity of about 13.1 GWh for data center energy storage [5][12]. Summary by Sections Investment Insights - The report suggests focusing on specific segments within the power equipment sector that are likely to benefit from AI data center growth, including liquid cooling, transformers, UPS, and busbars [60]. - Recommended companies include: - Liquid cooling: Invec (新能源车组覆盖), Tongfei Co. - Transformer segment: Jinpan Technology - UPS segment: Kehua Data - Busbar segment: Weiteng Electric [60]. Industry Dynamics - The report discusses the recent developments in the photovoltaic sector, including the listing of polysilicon futures and the signing of a self-regulatory agreement for solar power [37]. - It notes the establishment of a local virtual power plant standardization committee in Shenzhen, which has connected 59 virtual power plant operators with a total capacity of 3.8 million kilowatts [37]. Market Performance - The power equipment sector experienced a decline of 0.57% recently, ranking 13th among 28 sub-industries, underperforming the Shanghai Composite Index by 1.52 percentage points [136][160]. - The report provides insights into the performance of specific companies and their earnings forecasts, indicating a mixed outlook for the sector [60].