On July 6, Harbin Electric rose 5.48% in regular trading, reaching HK$16.55 per share, with turnover of approximately HK$21.50 million. The heavy electrical equipment sector rallied broadly, led by Dongfang Electric surging over 9%.

The movement was driven by continued market focus on AI data center construction fueling power demand growth. Gas turbines, with advantages including rapid startup speed and strong peak-shaving capability, have emerged as the core solution for addressing power gaps. Earlier this month, CLSA published a global gas turbine industry report initiating coverage on five Chinese gas turbine supply chain stocks, assigning Harbin Electric an outperform rating with an HK$18 target price. The brokerage noted that the global gas turbine sector is entering a structural upcycle supported by rigid AI data center power demand, forecasting annual global gas turbine demand of approximately 120 GW from 2025 to 2030. With traditional OEMs operating at capacity constraints with orders booked through 2030, Chinese manufacturers face structural entry opportunities into international markets.

Within the sector, Dongfang Electric rose 9.23%, Guoxia Tech gained 3.51%, Shanghai Electric advanced 1.44%, Goldwind edged up 0.09%, while Dajin declined 7.93%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)