[Huaxi Securities: AI Power Demand Continues to Rise, Agent Boom Accelerates Demand] Huaxi Securities pointed out that driven by the AI industry, the scale of computing power is growing rapidly. Although the current electricity consumption of computing power centers in China accounts for a relatively small proportion of total social electricity consumption and remains within the supportable range of the power system in the short term, the proportion of computing power electricity consumption in total social electricity consumption is steadily increasing, showing a rapid growth trend. On the policy front, green energy is expected to play a greater role in meeting computing power demand. With the popularity of the OpenClaw project, demand for AI Agents is expected to surge, and the explosion in token numbers is likely to further drive computing power demand, thereby increasing electricity demand.