CSC's research report pointed out that China XD Electric (601179.SH) achieved a 22.87% year-on-year increase in non-GAAP performance in the first half of 2024, showing good growth. As a leading comprehensive provider of primary equipment for power transmission and distribution, the company has benefited from the accelerated investment in power grid construction and strong downstream market demand. The industry is thriving, with steady growth in power grid investment. From January to July 2024, the amount of power grid investment completed was 294.7 billion yuan, a 19.2% year-on-year increase. With the demand for Shago Wasteland Base and Southwest Hydropower transmission, the construction of ultra high pressure is rigid and continuous. Due to the high industry prosperity, as a top-tier company, the company ranks among the industry leaders in combined electrical appliances, transformers, and other products. It is expected that in the second half of 2024, high-voltage product orders and deliveries will be more concentrated, improving the company's profitability. With the industry booming, the company, as a leading comprehensive provider of primary equipment, will fully benefit, and an initial "shareholding" rating is given.