Analysis of Shuangjie Electric (300444) Strong Limit-Up: Power Grid Equipment Sector Rides Policy Tailwinds

Shuangjie Electric (300444.SZ) achieved a 20CM limit-up in the early trading session on January 19, 2026, with its price strongly locking at the limit-up level and entering the strong stock pool. As a power grid equipment and smart power grid concept stock listed on the ChiNext Board, the company rallied in resonance with the power grid equipment sector today.

Observing the market, Shuangjie Electric hit the limit-up around 10:22 AM and remained locked at that level, reflecting strong bullish sentiment from market funds towards the company and its sector. Meanwhile, the Power Grid Equipment ETF (159326) rose over 6%, with turnover exceeding 1.1 billion yuan in half an hour, and its scale reached 8.575 billion yuan, a new high since its establishment [1][2].

stems from the major announcement by State Grid Corporation on January 15: During the “15th Five-Year Plan” period, State Grid Corporation’s fixed-asset investment is expected to reach 4 trillion yuan, representing a 40% increase compared to the “14th Five-Year Plan” investment, mainly used for the construction of a new power system [1][2]. This policy catalyst directly ignited the power grid equipment sector, providing strong fundamental support for related stocks.

The National Energy Administration announced on January 17 that China’s total social electricity consumption hit a historic breakthrough of over 10 trillion kWh in 2025, reaching 10.4 trillion kWh, a year-on-year increase of 5% [2][3]. China’s annual electricity consumption is more than twice that of the US, fully reflecting the development foundation of a manufacturing powerhouse and the comprehensive improvement of energy security capabilities, which provides sustained demand support for the power grid equipment industry.

The boom in AI applications has sparked a global consensus on power shortages in data centers. Elon Musk stated that China’s decisive advantage in the AI race lies in its large-scale power supply capacity. Goldman Sachs predicts that over the next 10 years, the scale of global digital infrastructure + energy system investment driven by AI will reach up to 5 trillion US dollars [2]. Power grid equipment will be the most direct beneficiary of this investment wave, and the industry is entering a golden development period with both volume and price rising.

The Power Grid Equipment ETF (159326) has seen net capital inflows for 7 consecutive trading days, with total capital inflows exceeding 4 billion yuan, reflecting that institutional capital is continuously increasing positions in the power grid equipment sector [2][3].

The power grid equipment sector rallied across the board today:

: Multiple stocks including Shuangjie Electric, Han Cable Co., Ltd., Senyuan Electric, Guangdian Electric, XJ Electric, Baobian Electric, Dalian Electric Porcelain, Jicheng Electronics, XD Xi’an Electric, and Huaming Equipment rallied collectively [1][3][4].

: Sanbian Technology recorded 4 consecutive limit-ups, Xilian Electronics recorded 2 consecutive limit-ups, and Baobian Electric recorded 2 consecutive limit-ups, indicating that the speculative heat in the sector continues to rise [1][3].

Institution	Core View
Galaxy Securities	In 2026, State Grid is expected to approve the construction of 4 to 5 DC and 3 to 4 AC UHV projects. The demand for inter-regional interconnection and ring network construction of DC projects will drive the demand for supporting AC transmission projects [1]
Everbright Securities	State Grid will accelerate the construction of UHV DC transmission channels, and the high prosperity of UHV construction is expected to continue in the future; distribution networks and smart microgrids are expected to achieve high-quality development [1]
Huatai Securities	Against the backdrop of accelerated construction of the national unified power market, we are optimistic that power grid investment will maintain steady growth during the “15th Five-Year Plan” period, with clear demand for cross-provincial transmission channel construction and reinforcement of weak power grids in the western region [2][3]

1. Domestic Investment
   : State Grid’s 4 trillion yuan investment + continuous release of demand for distribution network upgrading and transformation
2. Overseas Exports
   : Aging power grids in Europe and the US are in urgent need of upgrading, delivery cycles have been extended to several years, and Chinese enterprises are entering a golden development period
3. Valuation Premium
   : Supply shortages drive pricing premiums, with overseas prices of Chinese suppliers 10%-80% higher than domestic prices [4]

: The power grid equipment sector has seen a large short-term rally, and some stocks may face profit-taking pressure [1][2].

: With the rapid rise in stock prices, the rally of some stocks has decoupled from fundamental support, so the risk of pullback needs to be watched out for.

: There is uncertainty about the specific implementation progress of the “15th Five-Year Plan” investment plan, and attention should be paid to the actual order landing situation.

: Shifts in market style may lead to capital outflows from the strong sector.

For funds intending to participate, the following strategies are recommended:

• Chasing Rally Strategy
  : Participate cautiously with strict stop-loss settings
• Layout on Pullback
  : Wait for opportunities to buy on retests of the 5-day/10-day moving average
• Mid-term Holding
  : Consider batch layout of core targets in the power grid equipment sector during corrections

• Unprecedented Policy Strength
  : The 4 trillion yuan investment scale represents a 40% increase compared to the “14th Five-Year Plan”, with a long investment cycle and high certainty
• Strong Fundamental Support
  : Dual-driven by continuous growth in electricity consumption + explosive demand for AI-related electricity
• Booming Overseas Demand
  : Aging power grids in Europe and the US + extended delivery cycles, Chinese enterprises see both volume and price growth in overseas expansion
• Continuous Institutional Position Increase
  : ETF scale hits a new high, with continuous net capital inflows

• Excessive short-term rally, need to watch out for technical pullbacks
• Market trends may affect sector performance
• Need to pay attention to actual order landing situation

: Sector heat is expected to continue, but need to watch out for high-level fluctuations and profit-taking risks.

: As the “15th Five-Year Plan” investment plan is gradually implemented, the power grid equipment sector still has upside potential.

: Driven by AI electricity demand + power grid upgrading and transformation + overseas expansion, industry prosperity is expected to continue for several years.

The strong performance of Shuangjie Electric is mainly driven by policy benefits and improving industry prosperity, which is a typical fundamental + policy-driven revaluation rally. The power grid equipment sector is in the period of the “biggest investment opportunity in a decade”. It is recommended that investors keep an eye on it and buy on dips during pullbacks, but need to pay attention to adjustment risks brought by excessive short-term rallies.

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[1] Eastmoney - Sector Volatility | Power Grid Equipment Concept Revives, Shuangjie Electric Hits 20CM Limit-Up

[2] National Business Daily - Turnover Exceeds 1.1 Billion Yuan in Half an Hour, Power Grid Equipment ETF Surges Over 6% on Heavy Volume

[3] Sina Finance - Power Grid Equipment Sector Opens Sharply Higher

[4] Securities Times - 601616, Vertical Limit-Up in 1 Minute! A-Share Power Equipment Sector Rallies Across the Board!