CHONGQING M&E (02722) rose over 6%, and as of the time of writing, the stock was up 6.09% to HK$2.44, with a turnover of HK$40.1285 million. The surge is driven by the dual catalysts of the current data center construction boom and global power shortages, which are positioning power generation as the largest future growth engine for the internal combustion engine industry. Relevant data indicates that demand for data center generator sets is growing sharply, fueled by AI development and the expansion of digital infrastructure, with the global market capacity projected to reach 23,000 units by 2030. Previously, Cummins Inc. released its 2030 strategy, clearly identifying power generation as the biggest future growth area for its traditional business and forecasting the global large-bore diesel generator market to reach $12 billion by 2030. Industrial Securities pointed out that the CHONGQING M&E Group is subordinate to the Chongqing SASAC, and its controlling businesses primarily include equipment such as hydro turbines, wires and cables, gas compressors, industrial pumps, wind turbine blades, and machine tools (Chongqing Machine Tool, UK-based PTG), while it holds stakes in Cummins Chongqing and Chongqing Hitachi Energy. Cummins Chongqing is Cummins China's sole large-bore engine enterprise, benefiting from the strong development of large-bore engines and data centers; Chongqing Hitachi Energy mainly produces 220kv and above transformers, benefiting from overseas high-voltage power grid construction. The brokerage believes that Cummins Chongqing and Chongqing Hitachi Energy possess high growth certainty over the next few years, while the main business is gradually entering a profit release phase as impairments decrease.