格隆汇12月25日丨华电科工(601226.SH)公布，公司与江苏国信扬州发电有限责任公司签署了《国信扬 电三期2×100万千瓦扩建项目六大管道管材管件及工厂化配制采购合同》，合同金额约为26,530.70万元 人民币（含税）。公司为该项目提供的100万千瓦超超临界二次再热燃煤发电机组，具有高效清洁、技 术创新、调峰能力强、智慧化程度高的特点。 2024年公司四大/六大管道业务签订合同18.79亿元，本合同的顺利实施有利于公司进一步提高四大/六大 管道市场占有率，提升公司在行业内的市场影响力，增强公司在四大/六大管道领域的品牌影响力。 ...

2024年公司四大/六大管道业务签订合同18.79亿元，本合同的顺利实施有利于公司进一步提高四大/六大 管道市场占有率，提升公司在行业内的市场影响力，增强公司在四大/六大管道领域的品牌影响力。 格隆汇12月25日丨华电科工(601226.SH)公布，公司与江苏国信扬州发电有限责任公司签署了《国信扬 电三期2×100万千瓦扩建项目六大管道管材管件及工厂化配制采购合同》，合同金额约为26,530.70万元 人民币（含税）。公司为该项目提供的100万千瓦超超临界二次再热燃煤发电机组，具有高效清洁、技 术创新、调峰能力强、智慧化程度高的特点。 ...

东方电气（01072）早盘上涨4%，现报24.94港元，成交额1.73亿港元。 华鑫证券研报指出，东方电气业绩持续向好，饱满订单支撑未来成长。前三季度实现归母净利润29.66 亿元，同比增长13.02%；新增生效订单885.83亿元，同比增加9.0%。燃气轮机需求爆发，公司出海迎来 机遇。中国燃气轮机制造企业依托技术积累、成本优势及产业链协同能力，有望迎来海外市场战略窗口 期。公司凭借自主研制的F 级重型燃气轮机G50 成功实现海外突破，已获取哈萨克斯坦江布尔州50 兆 瓦联合循环发电项目核心设备订单，标志着国产重型燃机首次实现整机出口。公司在手订单充足，有望 迎来煤电、核电等行业交付高峰，同时燃气轮机出海值得关注，给予"买入"投资评级。 责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 东方电气（01072）早盘上涨4%，现报24.94港元，成交额1.73亿港元。 华鑫证券研报指出，东方电气业绩持续向好，饱满订单支撑未来成长。前三季度实现归母净利润29.66 亿元，同比增长13.02%；新增生效订单885.8 ...

机构：华鑫证券 风险提示 下游需求不及预期风险、竞争加剧风险、海外贸易风险、原材料价格大幅上涨风险、大盘系统性风险。 燃气轮机需求爆发，公司出海迎来机遇 美国AIDC 需求快速增长，推高自建电源需求。燃气轮机凭借建设周期短、供电稳定等优势，成为数据 中心短期优选供电方案，谷歌、亚马逊等海外科技巨头新建数据中心时，已将燃气轮机作为核心备用电 源甚至主电源之一。供需趋紧背景下，GE Vernova（通用电气能源业务板块）、西门子能源、三菱重工 等全球龙头均呈订单加速、产能紧张态势，多家宣布扩产计划。 中国燃气轮机制造企业依托技术积累、成本优势及产业链协同能力，有望迎来海外市场战略窗口期。公 司凭借自主研制的F 级重型燃气轮机G50 成功实现海外突破，已获取哈萨克斯坦江布尔州50 兆瓦联合 循环发电项目核心设备订单，标志着国产重型燃机首次实现整机出口。 盈利预测 预测公司2025-2027 年收入分别为812、883、896 亿元，EPS分别为1.15、1.37、1.52 元，当前股价对应 PE 分别为19.6、16.5、14.8 倍，公司在手订单充足，有望迎来煤电、核电等行业交付高峰，同时燃气轮 机出海值得关注， ...

Core Insights - Tianhong Electric Technology Co., Ltd. has rapidly grown since its establishment in 2019, achieving an annual output value of 700 million yuan, supported by 19 million yuan in credit from Postal Savings Bank [1][2] Financial Support and Partnership - Tianhong Electric has a deep partnership with Postal Savings Bank, with an annual transaction amount exceeding 500 million yuan and multiple accounts established for margin and foreign exchange [2] - The financial services provided by Postal Savings Bank have been crucial for Tianhong Electric, particularly in securing funds for raw material procurement and fulfilling large orders [2] Production Capacity and Workforce - The company operates a modern production facility covering 80,000 square meters and employs over 380 staff, including more than 50 technical professionals [2] - Tianhong Electric's product range includes various power equipment, with specific production capacities such as 240,000 kVA for 220kV oil transformers (10 units annually), 20 units for 110kV transformers, and 10,000 units for 35kV/10kV transformers [2] International Expansion Strategy - Tianhong Electric is accelerating its internationalization strategy, planning to establish a bonded warehouse in Kazakhstan and an assembly plant in Indonesia, while also developing photovoltaic-specific transformers for the Middle East [2] - Postal Savings Bank aims to support Tianhong Electric's international market expansion through a comprehensive suite of services, including cross-border settlement and trade financing [2] Digital Transformation Initiatives - The company plans to build a cross-border e-commerce platform for power equipment and develop an intelligent quotation system that automatically matches grid parameters for 43 countries [2] - Postal Savings Bank will provide digital financial services to support Tianhong Electric's digital transformation, utilizing big data analysis for precise financing and risk management solutions [2]

天眼查App显示，近日，云南亿昌电力科技有限责任公司成立，法定代表人为杨洪荣，注册资本300万 人民币，经营范围为许可项目：电线、电缆制造。（依法须经批准的项目，经相关部门批准后方可开展 经营活动，具体经营项目以相关部门批准文件或许可证件为准）一般项目：输配电及控制设备制造；变 压器、整流器和电感器制造；配电开关控制设备销售；配电开关控制设备制造；五金产品批发；供应用 仪器仪表销售。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

格隆汇12月16日丨中国西电(601179.SH)公布，2025年12月15日，中国南方电网有限责任公司发布了藏 东南至粤港澳大湾区±800千伏特高压直流输电工程受端换流站直流主设备和材料专项招标项目中标结 果公告。公司下属4家子公司为相关中标人。 根据上述中标结果公告，公司下属西安西电电力系统有限公司、西安西电变压器有限责任公司、西安西 电高压套管有限公司、西安西电电力电容器有限责任公司中标换流阀、变压器、套管、电容器等产品， 总中标金额为10.0505亿元。公司2024年度营业收入为221.7478亿元。 ...

Investment Rating - The report maintains a "Recommended" rating for the power equipment sector [5][18]. Core Insights - The report highlights that the AI energy crisis, as warned by Nvidia's CEO, is creating significant opportunities for the domestic power equipment industry in China, which has a complete supply chain and is well-positioned to benefit from both domestic grid investments and global AI data center expansions [4][13]. - Key areas of growth include gas turbines, solid oxide fuel cells (SOFC), nuclear power, transmission and distribution equipment, transformers, and energy storage, all of which are expected to see increased demand due to the evolving energy needs of AI and data centers [4][14][15][16][17]. Summary by Sections Investment Viewpoints - The North American electricity shortage primarily benefits power equipment already integrated into overseas supply chains, with a focus on generation, storage, and transmission sectors [5][17]. - Specific companies highlighted for investment include: - Power Generation: Boying Welding [未评级] - Energy Storage: Sungrow Power, Tongfei Co. [Buy] - Transmission and Distribution: Jinpan Technology [Buy] - Solid State Transformers: Sifang Co., New Special Electric [Buy] - Power Supply for AI Data Centers: Zhongheng Electric, Magpow, Oulu Tong [Buy] - Liquid Cooling: Invec [Buy] [5][17]. Industry Performance - The power equipment sector has shown a performance increase of 36% over the past 12 months, outperforming the Shanghai Composite Index and the CSI 300 Index [3][45]. - Recent market performance indicates a 1.19% increase in the power equipment sector, ranking it fifth among 28 sub-industries [45]. Key Companies and Earnings Forecast - The report provides earnings forecasts for several companies, with notable mentions including: - Sungrow Power: EPS forecast of 5.32 in 2024, with a Buy rating - Tongfei Co.: EPS forecast of 0.86 in 2024, with a Buy rating - Jinpan Technology: EPS forecast of 1.26 in 2024, with a Buy rating - Sifang Co.: EPS forecast of 0.86 in 2024, with a Buy rating - Magpow: EPS forecast of 1.08 in 2024, with a Buy rating [8][19].

天眼查App显示，近日，江西玉凝峰电力设备有限公司成立，法定代表人为柯婷婷，注册资本1000万人 民币，经营范围为一般项目：变压器、整流器和电感器制造，电力电子元器件制造，配电开关控制设备 制造，电力设施器材制造，机械电气设备制造，输配电及控制设备制造，光伏设备及元器件制造，配电 开关控制设备销售，智能输配电及控制设备销售，电力设施器材销售，机械电气设备销售，电力电子元 器件销售，光伏设备及元器件销售，集中式快速充电站，充电桩销售，配电开关控制设备研发，电力行 业高效节能技术研发，海上风电相关系统研发，电气设备修理，轨道交通专用设备、关键系统及部件销 售，风力发电机组及零部件销售，电线、电缆经营，润滑油销售，技术服务、技术开发、技术咨询、技 术交流、技术转让、技术推广，货物进出口，技术进出口，进出口代理（除依法须经批准的项目外，凭 营业执照依法自主开展经营活动）。 ...

Group 1 - Electric equipment stocks saw significant gains, with Dongfang Electric rising by 15.97% to HKD 25.42, Harbin Electric up by 10.95% to HKD 15.81, and Shanghai Electric increasing by 8.93% to HKD 4.39 [1] - Nvidia is planning a closed-door summit in Santa Clara, California, to address the "data center power shortage" that may hinder AI development, gathering executives from startups focused on power and electrical engineering [1] - The International Energy Agency (IEA) predicts that global power demand for data centers, AI, and cryptocurrency will surge from 460 TWh in 2022 to between 620 TWh and 1,050 TWh by 2026 [1] Group 2 - The current electricity shortage in the U.S. is becoming a clear and certain fact, expected to expand before 2030, leading to a more defined investment logic in the industry chain [2] - Data centers typically rely on backup power systems, primarily diesel generators, during peak demand or main power interruptions; however, regulatory constraints on diesel generators are expected to increase the adoption of gas turbines in backup power systems for AIDC projects [2]