Core Viewpoint - The recent tender opening for the third batch of metering equipment by State Grid on November 10 indicates a significant price increase for new standard electric meters, with unit prices rising by 47% and 44% compared to the second batch, marking a recovery in prices [1] Group 1: Industry Outlook - The new standard for electric meters is expected to stabilize volume and increase prices in the industry by 2026, leading to a recovery in corporate profitability [1] - The ongoing global power shortage, driven by AI computing demand, is accelerating overseas investment in power grids, which may benefit Chinese grid equipment through increased export opportunities [1] Group 2: Investment Recommendations - The company maintains a positive outlook on the grid equipment sector and suggests focusing on three investment themes: overseas expansion, AIDC (Artificial Intelligence Data Center), and leading domestic companies [1]