5年5万亿砸向电网：国网南网此次联手有何不同？

The trace

How it reaches your house.

Starting from State Grid Corporation of China (SGCC), we walked the supply graph hop by hop to the goods you buy and the companies you own. Each step is the engine’s reasoning, scored for confidence and cited where a source backs it.

1. First impact

   State Grid Corporation of China (SGCC) →supply up

   Cross-region cross-province transmission capacity

   Source explicitly says SGCC will accelerate UHV DC outbound channels and raise cross-region/cross-province transmission capacity by more than 30%, so transmission capacity directly increases.

   “跨区跨省输电能力较“十四五”末提升超过30%”

   95% confidenceCited →

   CG Power and Industrial Solutions →Stands to benefit

   Large Power Transformers (LPTs) & Generator Step-Up Units

   India’s grid-expansion cycle should lift orders for CG Power’s transformer/GSU product line; with about 8% market share and a 20-month replacement lead time, the segment is a meaningful beneficiary, though not a sole-source bottleneck.

   80% confidence

2. Hop 2

   Large Power Transformers (LPTs) & Generator Step-Up Units →supply up

   Residential Electricity

   Residential electricity critically depends on this input (dependency strength 0.85), so a large grid buildout should improve electricity availability and resilience.

   84% confidence

   Large Power Transformers (LPTs) & Generator Step-Up Units →Stands to benefit

   Hyundai Electric & Energy Systems267260.KS

   Hyundai has a 25% market share in this input and 24-month replacement lead time, so stronger grid investment should meaningfully boost its transformer orders.

   81% confidence

   Large Power Transformers (LPTs) & Generator Step-Up Units →Stands to benefit

3. Hop 3

   Residential Electricity →Stands to benefit

   High-Voltage Transmission Conductors (ACSR/ACCC)

   Grid-capacity spending directly increases demand for high-voltage conductors used in transmission expansion, so this input is a clear beneficiary.

   90% confidence

   Hyundai Electric & Energy Systems →Stands to benefit

   Large Power Transformers (LPTs) & Generator Step-Up Units

   Massive grid investment boosts demand for large power transformers and GSU units, and Hyundai Electric supplies about 25% of that market with a 24-month replacement lead time, making the category a clear beneficiary.

   81% confidence

   Residential Electricity →Stands to benefit

4. Hop 4

   High-Voltage Transmission Conductors (ACSR/ACCC) →supply up

   Residential Electricity

   Massive grid investment should increase availability of this critical transmission input, improving residential power supply resilience.

   92% confidence

   On-Load Tap Changer (OLTC) for Voltage Regulation →Stands to benefit

   Maschinenfabrik Reinhausen GmbH (MR)

   MR has a 55% OLTC share and 24-month replacement lead time, so the grid-investment surge should most strongly benefit it.

   88% confidence

   High-Voltage Transmission Conductors (ACSR/ACCC) →Stands to benefit

   Southwire Company