According to the latest SMM forecast, State Grid’s annual investment will reach 847.2 billion yuan in 2026, hitting a record high. Supported by the over 4 trillion-yuan medium and long-term power grid plan from 2026 to 2030, major projects including UHV construction, distribution network renovation, rural power grid upgrading and new energy grid connection are accelerating. Orders for power cables, low-voltage distribution power cables, control cables, PV and energy storage dedicated cables have increased significantly. The cable industry is ushering in a strong demand boom, with full-capacity production among leading manufacturers.