SH ELECTRIC (02727) rose more than 5% in afternoon trading. As of the time of writing, the stock was up 5.47%, trading at HKD 5.01 with a turnover of HKD 333 million. The catalyst stems from Siemens Energy's mid-year report for 2026, which showed its Gas Services business secured new orders worth EUR 8.9 billion in Q2 2026, a year-on-year increase of 32%, indicating robust order growth. The backlog for the Gas Services business has now climbed to EUR 66 billion, with coverage extending to 5.2 years. Against the backdrop of a global shortage in gas turbine manufacturing capacity, leading domestic players in the gas turbine supply chain are expected to accelerate their overseas expansion. Soochow Securities pointed out that SH ELECTRIC, leveraging the Ansaldo Energia technology system, has successfully engineered and deployed E/F-class gas turbines and is continuously upgrading towards H-class heavy-duty turbines. The company possesses rare domestic capabilities in complete unit manufacturing, system integration, and combined-cycle solutions. Coupled with its extensive project experience in overseas power plant EPC (Engineering, Procurement, and Construction), SH ELECTRIC has a solid foundation for "exporting equipment through engineering projects." In the future, the company is well-positioned to capture incremental opportunities arising from the global gas turbine supply shortage and the spillover demand for power from AI data centers (AIDC). Its gas turbine business is expected to become a significant growth driver for the company's high-end energy equipment segment.