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 transition and computing power demand, the construction of ultra-high voltage projects in China has accelerated significantly, with the scale of lines steadily expanding. According to the “2025-2030 China Ultra-High Voltage Grid Market Demand Forecast and Development Trend Report” released by the China Business Industry Research Institute, by the end of 2025, the total length of ultra-high voltage lines in China will exceed 62,000 kilometers, and is expected to surpass 70,000 kilometers in 2026.

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

Huo Hongyi, founder of Numantoro Business Strategy Consulting, told the Securities Daily that China’s ultra-high voltage industry has entered a mature stage characterized by accelerated scaling and leading technology. The speed of project operation, the scale of lines, and the level of equipment are among the top in the world. With expectations of increased investment in the power grid, the industry is likely to enter a new peak of construction and accelerate its evolution toward flexible direct current upgrades, intelligent operation and maintenance, and green low-carbon development.

In the face of a continuously improving industry development trend, listed companies in the industry are seizing opportunities, actively increasing their layout efforts, and investing in key ultra-high voltage project construction.

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

Guoan Da 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 system of ultra-high voltage converter stations, with related products used in projects such as the ±1100kV Changji-Guqian Converter Station and the ±800kV Yachong/Botuo.

Some companies have also targeted specific segments of the industry chain and accelerated their capacity expansion efforts around core products. In July 2025, Jin Lihua Electric Co., Ltd. announced that to seize the development opportunities in the ultra-high voltage glass insulator market, its wholly-owned subsidiary Shanxi Jin Lihua Intelligent Manufacturing Technology Co., Ltd. plans to invest in the construction of a production line project with an annual output of 3 million ultra-high voltage glass insulators, with a proposed investment amount reaching 186 million yuan.

In Huo Hongyi’s view, the active participation of listed companies in ultra-high voltage construction fully demonstrates the leading and exemplary role of industry leaders. “On one hand, leading enterprises can drive upstream and downstream supporting companies to form large-scale production capacities by participating extensively in project bidding, thereby raising the overall manufacturing level of the industry chain; on the other hand, the deep cultivation of certain companies in specialized technologies can promote breakthroughs in the localization of key products, allowing the entire industry to see directions for innovation.”

An industry insider told the Securities Daily that in the future, relevant companies should continue to strengthen core technological breakthroughs, focus on overcoming technical bottlenecks, and further improve the collaborative mechanisms of the industry chain to promote collaborative innovation, resource complementarity, and sharing of results between upstream and downstream, continuously enhancing the overall competitiveness and sustainable development capabilities of the industry.