Nyocor Co Ltd

The A-share power sector triggered a wave of daily limit up moves. On July 20, the power sector rose 4.8 percent overall, with about 17 stocks including Huaneng Mengdian, Huayin Electric Power, Jinkai New Energy, and Jiantou Energy hitting their daily limit up. The rally is linked to surging electricity loads during the summer peak season and an explosion in computing power demand. After the national electricity load reached 1.518 billion kilowatts on July 10, it climbed to 1.551 billion kilowatts on July 14, with 16 provincial-level grids refreshing their peak a cumulative 59 times. In the first half of the year, total electricity consumption reached 5.1 trillion kilowatt-hours, up 5.3 percent year-on-year, with charging and battery swap services surging 56.9 percent and internet data services up 44 percent. The China Electricity Council expects that during the 15th Five-Year Plan period, annual incremental electricity consumption from computing power will exceed 100 billion kilowatt-hours, and by 2030 total computing power electricity consumption could reach 800 billion kilowatt-hours, accounting for about 6 percent of total societal electricity use.

The China data center market is projected to grow from an estimated $60.69 billion in 2025 to $101.47 billion by 2031, at a compound annual growth rate of 8.94%. Government initiatives are boosting local GPU production amid export constraints, while Alibaba Group announced a new AI inferencing chip in September 2025. The AI Plus initiative is driving AI adoption across research, public services, and finance. Joint ventures are expanding digital capacity, with Nyocor planning facilities in Xinjiang to host over 100,000 AI chips. Chindata Group secured over $490 million to enhance digital infrastructure, and new green standards mandate a power usage effectiveness not exceeding 1.4, with renewable energy usage reaching up to 100% by 2032.