（赵学红，郭聪莉，赵云仙） 下一步，该公司将持续深化培训成果,建立常态化的学习机制，不断提升公司整体精益化管理水平和前 端服务能力,为公司高质量发展提供强劲的基层动能。 为全面提升供电所关键岗位人员的业务能力和专业素养，切实解决在用电信息采集、台区线损管理及业 扩报装等核心业务中存在的突出问题，近日，国网晋中供电分公司精心组织了一场面向各供电所相关专 责的综合性业务培训。 为确保培训入脑入心、学以致用，本次培训在形式上力求多元创新。培训采取了"集中授课+分组研讨 +实操演练+案例竞赛"的复合模式。在集中授课环节，由公司青年业务骨干系统讲解采集运维、台损分 析与业扩报装的规范流程与核心要点;在分组研讨中，学员们围绕高损台区治理、采集失败攻坚等实际 课题进行头脑风暴，共同会诊疑难杂症;实操演练环节则组织青年学员前往实训基地，在仿真环境中进 行终端安装、故障排查与报装流程模拟，强化动手能力;此外，培训还引入了典型案例分析竞赛，鼓励 各小组展示最佳实践与解决方案，在比拼中相互借鉴、共同提升。此次培训通过系统性的理论学习与案 例剖析，强化一线青年员工对现代营销服务理念的理解与应用， 为保障电网稳定运行，提升供电服务 质 ...

Core Points - The company actively engaged in a community service initiative to ensure safe and warm electricity supply for elderly residents during the winter season [1][2] - A specialized team was formed to conduct thorough inspections of the heating equipment and electrical systems in the nursing home [2] Group 1 - The company organized a "I serve the public" activity to provide warmth and safety for the elderly in the nursing home as temperatures dropped [1] - The team divided into two groups to inspect the electrical systems, focusing on the distribution room, main distribution box, and dedicated heating lines [2] - The initiative aimed to enhance the safety awareness of both the staff and residents regarding electricity usage during winter [2] Group 2 - The company committed to providing 24-hour emergency power services and follow-up support to the nursing home [2] - The activity not only eliminated potential electrical hazards but also demonstrated the responsibility and commitment of the company's staff [2] - Future plans include regular community service activities to address the electricity needs of special groups and improve service quality [2]

公司对今年新装电采暖客户实施"三到位"服务：设备安装全程跟踪到位，峰谷电价政策宣讲到位，"安 全用电明白卡"发放到位。在临洺关镇试点运行"智慧电管家"平台，实现用电异常20分钟预警响应。同 步开展"安全用电进武校"特色活动，通过服务队员走访校园增强中小学生安全用电意识。 下阶段，永年公司将结合乡村振兴战略，持续优化"网格+电力"服务体系，让太极发源地群众既享受清 洁取暖的便利，更感受供电服务的温度与效能。（宋光驰 王亚康） 11月25日，国网永年区供电公司深化"电采暖客户全周期服务机制"，将全区电采暖用户纳入网格化服务 体系，重点监测赵庄、广府等17个农网台区运行数据，组织党员服务队开展入户安全巡检，全力保 障"中国太极拳之乡"群众温暖过冬。 针对西部山区分散供暖特点，公司创新建立"三级联动"服务机制：运维部统筹推进农网巩固提升工程， 供电所建立"一村一策"负荷监测体系，台区经理落实"一日双巡"制度。通过实施47个低电压台区治理、 改造14.6公里低压线路，有效解决刘营、大北汪等乡镇供电薄弱问题。 ...

为切实防范秋冬校园用电安全风险，提升师生用电安全意识与自我保护能力，近日，南方电网云南临沧 凤庆供电局走进各中小学校，开展干货满满的安全用电公益宣讲与校园用电设施排查活动。 在校园用电设施"义诊"环节，工作人员对学校教学楼、宿舍、食堂、操场等区域的电路线路、插座开 关、配电设施进行全面排查，重点检测线路老化、接地是否可靠、漏电保护装置是否正常运行等关键 项，及时发现并整改潜在隐患，更换破损插座和老化线路。还向学校后勤工作人员传授用电设施日常维 护技巧，赠送安全用电宣传手册和应急照明设备，助力学校筑牢用电安全"第一道防线"。 活动现场，工作人员结合秋冬季节天干物燥、用电负荷激增的特点，通过趣味动画、实物演示、互动问 答等形式，向同学们普及安全用电知识。讲解大功率电器超载使用、湿手触碰开关、私拉乱接电线等行 为的危害，手把手教大家正确拔插头、识别老化电线、应对突发漏电等实用技能。针对校园常见的空 调、饮水机、充电桩等用电设备，工作人员还重点演示日常检查要点，引导学生养成"人走断电、定期 查隐患"的良好习惯。 通过此次活动，不仅让孩子们学到了安全知识、排查了隐患，也给师生们的秋冬用电加了一层'安全 锁'。下一步，该 ...

Core Insights - The lithium battery industry is entering a major upward trend, with the battery index significantly outperforming the market by 64.5% as of November 14, 2025, driven by surging demand for energy storage, advancements in solid-state batteries, and tariff disruptions [1] - The industry is expected to return to an upward cycle, with energy storage becoming a core growth driver, leading to new capital expenditures in battery cells and improved profitability due to price increases [1] Industry Outlook - The growth in energy storage is anticipated to be a key driver for the lithium battery sector, with a stable growth expectation for 2026 [1] - Solid-state batteries are gaining momentum, with ongoing developments in capacity bidding, vehicle validation, and material breakthroughs [1] Market Dynamics - Leading battery cell manufacturers are experiencing full order books and steadily increasing capacity utilization, which enhances their pricing power and positions them to lead the industry recovery [2] - Material segment strategies include prioritizing electrolyte solutions due to limited future supply and significant price increase potential, followed by copper foil, lithium iron phosphate, and negative electrode materials [2] Technological Advancements - Solid-state battery technology is advancing, with policy support and emerging industries driving its adoption, leading to potential changes in industry dynamics [2] - Key challenges in solid-state battery production include material interfaces and mass production engineering, with a focus on dry processing and composite materials [3] Investment Recommendations - Companies such as CATL and Tianci Materials are recommended for investment, along with a watchlist of other firms like EVE Energy, Huasheng Lithium, and others in the lithium battery supply chain [3]

Group 1: Market Performance - The battery and solid-state battery sectors experienced significant gains, with the battery index rising over 2.8% and the solid-state battery index increasing by more than 2% on November 27 [1] - Individual stocks such as Jin Yinhe and Penghui Energy surged over 10%, while several stocks in the solid-state battery sector hit the daily limit up, including Lian De Equipment and Yi Shi Tong [1] Group 2: Industry Developments - Bloomberg New Energy Finance reported that semi-solid batteries are expected to begin mass production in 2026, while full solid-state batteries are projected to start mass production after 2028 [2] - LG Chem announced the successful development of core technology that significantly enhances the performance of solid-state batteries, achieving a basic capacity increase of approximately 15% and a high-rate discharge capacity increase of about 50% compared to existing batteries [3] - GAC Group has established the first large-capacity solid-state battery production line in China, capable of mass production of automotive-grade solid-state batteries with energy density nearly double that of current batteries [3] Group 3: Supply Chain and Pricing - As of November 27, the spot price of battery-grade lithium carbonate rose to 90,600 to 96,000 yuan per ton, averaging 93,300 yuan per ton, driven by inventory depletion and increased demand [5] - The lithium market is currently in a structural adjustment phase, with tight supply and demand dynamics expected to continue, potentially leading to price increases [5] - Citic Securities anticipates that the lithium industry chain will maintain a de-inventory trend, with lithium prices possibly exceeding expectations due to strong demand from energy storage batteries [5] Group 4: Company Initiatives - Tianqi Lithium is constructing a pilot line for lithium sulfide, expected to be completed in the second half of 2026, which will provide a crucial foundation for the scale-up of solid-state batteries [7] - Penghui Energy has completed its solid-state battery pilot line, which is currently operational, and aims to optimize its performance for mass production [7] - Shengyang Co. has successfully completed safety verification and cycle stability testing for its self-developed solid-state batteries, which are now entering market application stages [8]

Group 1: Oil Market Insights - OPEC+ will pause production increases in the first quarter of next year [1] - U.S. shale oil production may face cost pressures that could limit further output [1] - The supply-demand balance may see easing pressure in the second half of next year [1] Group 2: Petrochemical Industry - The PX-PTA-polyester industry chain is expected to see a recovery in profitability [2] Group 3: Investment Recommendations - In a defensive market phase or when oil prices stabilize, it is advisable to focus on major Chinese oil companies: China National Petroleum, China Petroleum & Chemical, and China National Offshore Oil [3] - After oil prices hit bottom, large refining companies may experience a turnaround, with a recommendation to pay attention to Rongsheng Petrochemical [3] Group 4: Specific Companies - For PTA and polyester sectors, the decline in long fiber inventory combined with reduced competition suggests monitoring Xin Fengming [4]

Core Viewpoints - The copper price experienced three rises and three falls from January to November 2025, showing a fluctuating upward trend, with a range of $8,539 to $11,068 per ton and an average price of $9,704 per ton, representing a year-on-year increase of 6%, and is expected to break historical highs by the end of the year [2][3] - The main factors influencing copper prices in 2025 return to traditional frameworks, highly correlated with commodity attributes, while financial attributes show a negative correlation [2][3] - The demand for copper remains robust, but supply sentiment reacts more strongly than the actual fundamental performance [3][4] Supply and Demand Analysis - From January to August 2025, global copper supply and demand maintained a tight balance, with an average monthly supply surplus of 0.8 thousand tons [2][3] - The global refined copper demand in 2024 is projected to have China accounting for 58% and the U.S. for 6%, with a compound annual growth rate (CAGR) of 2% from 2016 to 2024 [3] - The refined copper production in China and the U.S. for 2024 is estimated at 1,557 million tons and 162 million tons, respectively, with year-on-year growth of 1.3% and 0.5% [3] Price Forecast for 2026 - The copper market is expected to be in a state of tight balance in 2026, with a supply gap of 50 thousand tons, and global supply projected at 28.97 million tons, a year-on-year increase of 3%, while demand is expected to reach 29.01 million tons, also a year-on-year increase of 3% [4] - The copper price is anticipated to continue its upward trend, potentially reaching an average of $10,500 per ton in 2026 due to tightening supply and sustained demand [4] Investment Strategy - For upstream mining resources, companies with significant resource releases and development advantages are expected to benefit, with recommendations for Zijin Mining and Luoyang Molybdenum [5] - In the downstream sector, companies with high barriers to processing and strong performance in downstream industries are favored, with recommendations for Hailiang Co., Ltd. and attention to companies like Bowei Alloys and Srey New Materials [6]

Group 1 - Copper prices have been on the rise this year, with multiple domestic and international copper price indicators reaching historical highs, driven by various supporting factors [1][2] - China's annual refined copper consumption is approximately 15 million tons, while domestic copper production is only about 1.8 million tons, leading to a high dependency on imports exceeding 80% [2] - The current copper resource reserves in China have exceeded 40 million tons, showing a growth of over 50% since 2020, and the utilization of recycled copper is expected to account for 28% of total copper consumption by 2024 [2] Group 2 - The rapid development of new industries such as renewable energy and data centers has significantly increased the demand for copper, contributing to the ongoing rise in copper prices [2][3] - The overall copper consumption in China has been growing since the 14th Five-Year Plan, with refined copper consumption projected to reach 14.95 million tons in 2024, a year-on-year increase of 2.75% [3] - The potential for copper to be replaced by lighter and cheaper aluminum in sectors like electric vehicles and household appliances could weaken the growth expectations for downstream demand if raw material prices continue to rise [3]

Core Viewpoint - The energy storage industry continues to experience high demand, with a significant increase in orders for energy storage cells, leading to a situation where supply cannot meet demand, indicating a transition from "scale expansion" to "quality and efficiency improvement" in the industry [1][2]. Group 1: Market Demand and Supply - The energy storage cell market is currently characterized by strong supply and demand, with leading companies extending order schedules into next year [1]. - Companies like Longjing Environmental Protection have reported full orders, with production schedules extending to June 2026, and are planning to increase capacity to meet the "one cell hard to find" demand [1]. - Huizhou EVE Energy has also confirmed full production status and has achieved mass production of large cells, maintaining a strong market share [1][2]. Group 2: Upstream Material Production - Upstream material companies are experiencing high production levels due to strong demand from downstream power and energy storage batteries [2]. - Companies such as Hunan YN Energy and Guizhou Anda Technology have reported being at full production capacity [2]. - The demand for phosphate cathode materials is expected to continue growing, driven by both power and energy storage batteries [2]. Group 3: Competitive Strategies - Companies are focusing on technological upgrades and innovative models to strengthen their competitive advantages [3]. - Longjing Environmental Protection plans to implement lean production and cost-reduction measures to cope with industry competition, with a reported gross margin of approximately 10% for energy storage cells [3]. - Strategic long-term partnerships are becoming crucial for stable supply chain development, as seen in the ten-year agreement between Haibo Sichuang and CATL [3]. Group 4: Industry Trends and Recommendations - The energy storage industry is advised to avoid falling into low-price competition by enhancing industry self-discipline and promoting procurement based on "optimal value" rather than "lowest price" [4]. - There is a need for differentiation in technology and products to improve the usable capacity and cost performance of energy storage systems [4]. - Accelerating international expansion and certification processes is essential for participating in global competition [4].