📊 LS Electric’s North American orders are piling up, so why is the chart sending mixed signals? - 2026.10.27

Hey~ it’s me, Onion. I’m back to listen to what’s happening in the power sector today. Well, well~ the AI data center talk is pouring in again! 🔥

Let’s start with the chart 📈

LS closed today at ₩215,500, up +2.86%. But when you look at the move from ₩235,500 on October 19 to ₩212,500 on the 23rd, it’s not something you can write off as a one-day rebound. Good news keeps pouring in, but the chart is all over the place—that’s what makes LS interesting these days. I haven’t spent 30 years in the market for nothing. These mixed signals are the most frustrating—and the most fascinating. Is the chart waiting for the right moment to catch up with the news? ☕

What we’re hearing on the ground in North America 🇺🇸

Dealsite reported that LS Electric continues to shorten lead times in the U.S. despite talk of a slowdown in AIDC investment ^[2]. Even with talk of a slowdown, shorter delivery times could mean demand on the ground hasn’t cooled yet. A supply contract for extra-high-voltage transformers for U.S. data centers was signed on October 1, 2026, worth approximately 181,200,000,000 KRW ^[1]. Then, on October 13, the company signed a distribution equipment supply contract with Bloom Energy worth approximately 185,300,000,000 KRW ^[1]. The business is expanding from transmission and transformation equipment to on-site power generation equipment. The articles didn’t provide detailed terms, so I’ll leave them out here.

What about earnings? 💰

An article on the three power equipment makers noted that LS Electric delivered a surprise performance, supported by expanded switchboard supplies for data centers ^[3]. The same article said HD Hyundai Electric and Hyosung Heavy Industries are also expected to sustain growth as sales of high-margin power equipment increase ^[3]. That’s an industry outlook cited in the article, not a plan confirmed by the companies. A weaker exchange rate and some delivery delays were mentioned as short-term variables ^[3], and that’s where the cold water could hit. Let’s look overseas, too. Newsis reported that the LS Group is stepping up efforts to secure an early lead in global power grids, seizing on the AI-driven power supercycle ^[5]. There was also news that LS Electric Chairman Koo Ja-kyun met with the Deputy Chief Minister of India’s Gujarat state to explore smart grid cooperation ^[6]. It feels like the global power grid story is building one scene at a time.

Keep an eye on the risks, too ⚖️

There’s also the patent issue. An exclusive report says LS Electric appealed to the U.S. Court of Appeals for the Federal Circuit after its patent for electric vehicle charging technology was rejected in the U.S. ^[4]. The patent authority reportedly found insufficient distinctiveness based on earlier patents and research materials. The company has challenged the decision and begun legal action, so no one knows the outcome yet. This is separate from core-business orders and should be viewed on its own.

Onion thinks the bullish scenario is clear if North American orders keep coming in and lead times continue to shorten. But talk of an AIDC slowdown, exchange rates, and delivery delays are all moving variables, so it’s worth keeping an eye on how they interact.

Questions still on the table 🚀

With strong orders and earnings piling up, when will the share price chart catch up? The outcome of the patent appeal and how overseas power grid cooperation could flow through to holding company LS are still open questions. That’s a pretty electrifying update, isn’t it~ That’s all for today. See you next time with more interesting news!

📰 Reference News (6)

1

AIDC triggers a seismic shift in the industry landscape

네이버뉴스 · 2026.10.24

📰 View original

3

Will the three power equipment makers top 800 billion in Q3 operating profit? … “Driven by rising U.S. demand”

네이버뉴스 · 2026.10.27

📰 View original

4

[Exclusive] LS Electric challenges U.S. rejection of its EV charging patent… appeals to the Federal Circuit

네이버뉴스 · 2026.10.26

📰 View original