China Utilities & Renewables Blog Rotation creates opportunity to accumulate select power equipment and wind names; trading strategy on DG ESS as SoH re-opens

Research evidence excerpt

China Utilities & Renewables Blog Rotation creates opportunity to accumulate select power equipment and wind names; trading strategy on DG ESS as SoH re-opens

J P M O R G A N Asia Pacific Equity Research

15 June 2026

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China Utilities & Renewables Blog

Rotation creates opportunity to accumulate select

power equipment and wind names; trading strategy on

DG ESS as SoH re-opens

Rotation, together with concerns over data center connection delays, geopolitical APAC Utilities & Renewables |

tensions, and EU trade risks, has resulted in a meaningful correction across Asia Sustainable Investing

Power Equipment and China Upstream Wind names. For Asia Power Equipment, Alan Hon AC

we believe the pullback reflects funding/short dynamics and limited near-term (852) 2800-8573

catalysts after strong 1Q orders, rather than a clear deterioration in fundamentals, alan.hon@jpmorgan.com

with utility/grid demand still structurally intact. For China upstream wind, sector Stephen Tsui, CFA AC

sentiment has been weighed down by EU trade tensions and rotation to other (852) 2800-8592

themes, although fundamentals are improving on stronger domestic offshore wind stephen.tsui@jpmorgan.com

visibility. We see opportunities to accumulate quality plays where we highlight our Daqi Jiao

(852) 2800-8595

OW-rated names Hyosung Heavy, Wasion, Orient Cables and Goldwind-H. On daqi.jiao@jpmorgan.com

the news of the Strait of Hormuz reopening, Deye’s share price weakened.