Equities
Component shortages swell order backlogs, but heavy reliance on state-owned customers limits profit margins and share price performance
China’s manufacturers have not seen an AI-linked shortage of electrical infrastructure parts translate into higher share prices. © Reuters
TAKAHISA TODA
September 22, 2026 06:13 JST
HONG KONG — Shares of China’s power infrastructure manufacturers are struggling to capitalize on a global surge in artificial intelligence-linked investment. While equipment producers in the U.S. and Europe are reaping the benefits of the AI-driven electricity boom, Chinese grid component makers remain hamstrung by limited pricing power and a heavy reliance on state-owned enterprise customers.