Ultra-high voltage construction is booming; listed companies are busy with strategic deployments

Reporter: Wu Yixuan

Intern Reporter: Wang Nan

In recent years, driven by the dual forces of energy transformation and computing power demand, the construction of ultra-high voltage projects in China has significantly accelerated, with the scale of lines steadily expanding. According to the “2025-2030 China Ultra-High Voltage Power Grid Market Demand Forecast and Development Trend Outlook Report” published by the China Business Industry Research Institute, by the end of 2025, the total length of ultra-high voltage lines in China is expected to exceed 62,000 kilometers, with projections for 2026 to surpass 70,000 kilometers.

With the explosive demand for computing power and the ongoing deepening of energy transformation strategies, the investment scale in ultra-high voltage projects in China is expected to further expand.

Huo Hongyi, founder of Numanthala Business Strategy Consulting, told the Securities Daily that China’s ultra-high voltage industry has entered a mature phase characterized by accelerated scaling and leading-edge technology, with the speed of project operation, line scale, and equipment levels ranking among the top in the world. With expectations for increased investment in the power grid, the industry is likely to enter a new peak of construction and accelerate its evolution towards flexible direct current upgrades, intelligent operation and maintenance, and green low-carbon initiatives.

In light of the continuously improving industry development trend, listed companies in the supply chain are seizing opportunities, proactively increasing their investments, and actively engaging in key ultra-high voltage project construction.

For example, on March 26, Jinguang Electric Co., Ltd. announced that the company and its wholly-owned subsidiary, Nanyang Jinguang Intelligent Switch Co., Ltd., successfully won bids for four packages of lightning arresters and switchgear products in the first public tender for equipment and power transformation projects for the State Grid Corporation of China’s 2026 ultra-high voltage projects, with a total bid amount of approximately 39.2074 million yuan.

Guoanda Co., Ltd. recently stated on its investor interaction platform that in the field of power grid safety, the company’s “compressed air foam fire extinguishing technology” has been applied in the fire protection systems of ultra-high voltage converter stations, with relevant products utilized in the ±1100kV Changji—Guquan Converter Station and ±800kV Yachung/Botuo projects.

Some enterprises are also targeting sub-sectors of the supply chain and accelerating capacity expansion around core products. In July 2025, Jinlihua Electric Co., Ltd. announced that to seize the development opportunities in the ultra-high voltage glass insulator market, its wholly-owned subsidiary, Shanxi Jinlihua Intelligent Manufacturing Technology Co., Ltd., plans to invest in the construction of a production line with an annual output of 3 million ultra-high voltage glass insulators, with a planned investment amount of 186 million yuan.

According to Huo Hongyi, the active participation of listed companies in ultra-high voltage construction has played a leading and demonstrative role in the industry. “On one hand, leading enterprises can drive upstream and downstream supporting companies to form large-scale production capacities through extensive participation in project tenders, thereby raising the overall manufacturing level of the supply chain; on the other hand, the deep cultivation of specific technologies by some companies can promote breakthroughs in domestic production of key products, providing the entire industry with a direction for innovation.”

An institutional insider told the Securities Daily that in the future, relevant companies should continue to strengthen core technology research, focus on breaking through technical bottlenecks, and further improve the collaborative mechanisms of the supply chain to promote collaborative innovation, resource complementarity, and sharing of results among upstream and downstream players, continuously enhancing the overall competitiveness and sustainable development capabilities of the industry.