July 31 State Council Executive Meeting: Full Review of Beneficiary Stocks for New-Type Power Grid + Modern Logistics Network

English summary

### July 31 State Council Executive Meeting: Full Review of Beneficiary Stocks for New-Type Power Grid + Modern Logistics Network

Time: 2026-07-31 21:45:12

Content: This State Council executive meeting officially implemented the "six networks" deployment of the Politburo meeting, clearly strengthened the new-type power grid (total investment during the 15th Five-Year Plan exceeds RMB 5 trillion), accelerated the construction of the national modern logistics network, and strengthened computing-power-electricity synergy, multimodal transport, and shoring up weaknesses at the end of urban-rural logistics. Below, we analyze the beneficiary targets and core logic by two major sectors and sub-tracks. This is only a policy logic review and does not constitute investment advice.

I. Beneficiary Targets of New-Type Power Grid (three sub-sectors: UHV primary equipment, grid secondary intelligence, storage & submarine cable supporting)

Core requirements of the meeting: adapting to power consumption of computing bases, new energy consumption, and intelligent distribution network renovation, while taking into account backbone UHV + urban/county distribution network upgrades; computing-power-electricity synergy is a new core increment.

1. UHV primary equipment (core leaders in State Grid tenders, strongest order winning capability) 1.…