The power sector is entering a long-term cycle worth paying attention to. In the coming years, the combined effects of data center demand, artificial intelligence computing needs, new energy vehicle charging, energy structure optimization, and smart grid upgrades will directly drive the demand for electricity. This logic is quite clear.

From the perspective of the industry chain, the entire power ecosystem can be divided into several segments. On the generation side, traditional thermal power still exists, and hydropower remains important as a stable base load, but the growth points are clearly in clean energy sources such as wind, photovoltaics, and nuclear power. The installed capacity of wind and solar has grown rapidly in the past two years, and nuclear power construction is also accelerating.

Looking downstream, power equipment companies will also benefit—such as the construction of ultra-high-voltage transmission lines, smart grid upgrades, and various supporting equipment upgrades—all of which are rigid demands. The grid is becoming increasingly intelligent, with technological improvements from distribution networks to dispatching.

Another key link is energy storage. Data centers operate 24/7, and the variability of renewable energy also requires energy storage to smooth out fluctuations, leading to dual demands for hydropower storage and chemical storage. The market size in this area is expanding rapidly, with a relatively complete industry chain.

Overall, opportunities exist across the entire power industry chain—from upstream to midstream to downstream. It’s not just a single-point market but a systemic opportunity running through the entire chain. The demand for electricity from AI and data centers is real, and energy transition is a long-term trend. These two forces combined give the power sector a strong reason to be valued.