Chongqing M&E (02722) surged over 6% again, with a 5.02% increase at the time of writing, reaching HK$2.3 and a turnover of HK$44.3 million.

A Southwest Securities research report noted that diesel generators (DG) serve as a critical backup power solution for data centers. Benefiting from AIDC's requirements for DG power capacity, stability, and durability, the barriers to entry and unit value are expected to rise. According to estimates, the global DG market for data centers will reach RMB83.4 billion by 2028, with a CAGR of 6%, while the AIDC-specific DG segment is projected to hit RMB30.2 billion, growing at a 43% CAGR.

Guoyuan International highlighted that global diesel engine leaders remain dominated by international players such as Cummins (CMI), Caterpillar, and MTU, which hold technological and brand advantages. Chongqing M&E holds a 50% stake in Chongqing Cummins, the sole high-horsepower engine production base of Cummins in China, manufacturing models like QSK60, QSK50, and K50. With strong market demand, annual output is expected to rise from 16,000 units to 23,000 units, with high-horsepower products gaining a larger share.

In the first half of 2025, Chongqing M&E reported investment income of RMB330 million from Chongqing Cummins, up 27.6% YoY, with stable growth anticipated in the coming years.