HARBIN ELECTRIC (01133) surged over 5%, reaching a 4.81% increase to HKD 14.37 by the time of writing, with a trading volume of HKD 25.954 million.

Recent research from Huibo Investment highlights that the gas turbine industry is experiencing substantial growth, driven by three key factors: surging global AI computing demand, the Middle East's shift from oil to gas, and rising renewable energy peak-shaving needs. In Q2 2025, global new orders for gas turbines surged 38% year-on-year to 21GW, with major manufacturers' order books extending to 2028, reflecting tight production capacity.

According to IEA projections, global electricity demand from data centers, AI, and cryptocurrency is expected to rise sharply from 460TWh in 2022 to 620-1050TWh by 2026. International giants like GE Vernova have secured large-scale gas turbine orders for data centers, with demand momentum accelerating for domestic component suppliers.

Dongwu Securities notes that AI data center construction is generating massive electricity demand, with high requirements for reliability and stability. Gas turbine power generation, characterized by fast construction cycles, stable output, and low resource requirements, is poised to become the optimal short-term power solution for data centers.

The global gas turbine market is dominated by Siemens, GE, Mitsubishi Heavy Industries, and Caterpillar (via its subsidiary Solar Turbines), leaving significant room for domestic substitution. Investors are advised to monitor the potential of local brands in this space.