Group 1 - Electric equipment stocks are rising against the market trend, with Dongfang Electric up 13.8% to HKD 39.9, Harbin Electric up 4.15% to HKD 27.08, Shanghai Electric up 3.66% to HKD 4.82, and Goldwind Technology up 3.53% to HKD 15.28 [1] - Siemens Energy reported a significant increase in orders for Q1 2026, with a 34% rise to EUR 17.609 billion, leading to a record backlog of EUR 146 billion [1] - The supply-demand gap in the market is expected to persist due to the restrained expansion pace of major manufacturers, with global intentions for new orders exceeding 80GW while actual deliverable capacity is around 50GW [1] Group 2 - Huatai Securities highlights that under the data center's Time to Power demand, light gas and internal combustion engines are emerging as diversified primary power supply solutions [2] - There is a projected 30%+ supply-demand gap, with a trend of demand overflow expected to strengthen in the short term, as major gas turbine expansions are not anticipated until after 2027 [2] - Domestic light gas engines have achieved independent intellectual property rights and self-supply capabilities for hot components, indicating a positive outlook for the export of domestic gas engines [2]

Group 1 - Electric equipment stocks rose against the market trend, with Dongfang Electric increasing by 13.8% to HKD 39.9, Harbin Electric up by 4.15% to HKD 27.08, Shanghai Electric rising by 3.66% to HKD 4.82, and Goldwind Technology up by 3.53% to HKD 15.28 [1] - Siemens Energy reported a significant increase in orders for Q1 2026, with a 34% rise to EUR 17.609 billion, leading to a record backlog of EUR 146 billion [1] - According to Caitong Securities, the current overseas expansion pace of major manufacturers is restrained, resulting in a long-term supply-demand gap [1] Group 2 - Huatai Securities noted that under the data center's Time to power demand, light gas and internal combustion engines are becoming diversified primary power supply solutions [2] - The demand overflow trend is expected to strengthen in the short term due to a supply-demand gap exceeding 30%, with major gas turbine expansions not expected until after 2027 [2] - Domestic light gas has achieved independent intellectual property and self-supply capabilities for hot components, indicating a positive outlook for domestic gas turbine exports [2]