"现在室外温度已经降到-15℃，但断路器机构箱内温度还保持在8℃，这下再也不用担心低温影响设备 操作了！"11月20日，在35千伏大滩变电站内，丰宁公司变电检修班班长宁蒙用测温仪测量完机构箱内 温度后，向现场其他作业人员说道。 "每一道工序都不能马虎，既要保证保温效果，又要确保设备安全。"现场作业人员宁蒙介绍，随后接过 马子航递来的棉被，小心翼翼地包裹在机构箱外侧，"注意要贴合箱体，边角用绑带固定牢，别让寒风 灌进去，也不能挡住操作面板和观察窗。"安装完成后，他们仔细检查设备状态，逐台观察，确认温控 器、加热板是否工作正常、箱内温度是否达标。 截至目前，丰宁公司已完成坝上高寒地区6座变电站共31台断路器机构箱的防寒被加装。下一步，丰宁 公司将持续加强冬季设备巡检力度，密切关注气温变化和设备运行状态，及时优化保暖措施，以精细化 运维保障冬季电网安全稳定供电，为广大用户温暖过冬保驾护航。（马子航） 丰宁坝上地区冬季漫长寒冷，极端最低气温可达-30℃以下，为应对坝上高寒地区冬季极端低温天气， 丰宁公司组织实施断路器机构箱"防寒被"保暖改造工程，大幅降低设备故障停运风险，为电力设备筑牢 冬季安全运行"防护盾"。 极端 ...

作为2024年度集团A级健康食堂，该厂始终秉持"学营养、懂营养、做营养"的核心理念，将科学膳食与 健康保障深度融合，在巩固A级食堂创建成果的基础上，锚定"健康升级"目标，于7月份开启全员营养 师专项培训计划。培训期间，食堂全体人员利用工作之余系统钻研营养学基础、膳食搭配原则、特殊人 群营养需求等专业知识。从理论授课到案例研讨，从食材营养成分解析到餐食搭配实操，大家主动交 流、互帮互学，将枯燥的专业知识与食堂日常运营紧密结合，实现了"学以致用、学用相长"。最终，36 名工作人员凭借扎实的专业积累顺利通过全部考核，实现100%持证上岗。这不仅是该厂食堂队伍专业 能力的一次全面提升，更是践行"以人为本"理念的生动实践，为该厂体重管理年圆满收官奠定基础。 11月14日，鄂温克电厂职工食堂传来喜讯，36名工作人员全部取得营养师职业资格证书，为该厂A级健 康食堂建设再添砝码。 图为实操考试现场 ...

在培训过程中，参培人员列队整齐，专职消防员重点围绕各类消防器材的正确使用展开教学，涵盖灭火 器、消防栓、正压式呼吸器等设备的使用范围、操作方法和注意事项，并结合电力生产实际，深入分析 了电气火灾、油类火灾等不同类型火灾的特点及扑救原则，详细讲解了干粉灭火器、二氧化碳灭火器的 适用场景、使用步骤及日常检查要点。为检验培训效果，该厂组织参培人员到室外场地进行实操，现场 点燃火源，模拟真实场景，让每个人进行体验，确保大家真正掌握"提、拔、握、压"等操作要领，在实 践中更加了解灭火器的使用要领。 11月19日，鄂温克电厂在消防楼开展"消防知识讲解、灭火实操体验"的消防安全课，采取"理论+实 操"的培训模式，结合真实场景，更好地掌握灭火的操作要领。 图为专职消防员示范灭火 此消防安全知识培训活动的开展，不仅普及了消防安全知识，而且提升了企业应急处置能力，营造全员 参与消防工作的氛围，提高全员防火业务技能，为安全生产筑牢防线。 （鄂温克电厂-萨日娜、刘震） ...

通过此次系列活动的开展，不断提高该厂干部职工的消防安全意识和消防安全技能，夯实消防应急处置 能力，为企业安全形势持续稳定提供有力的保障。 活动期间，该厂利用新媒体平台开展消防安全知识线上答题活动，要求全厂正式及外委职工参加并设置 奖品，通过轻松有趣的答题闯关形式，让职工在挑战中学习、在比赛中掌握"防火、防灾、救援"的关键 知识。该厂重点强化实操训练，由专业教官现场演示灭火器"提、拔、握、压"操作要领、火灾报警关键 信息报告方法以及初期火灾"断源、灭火、疏散"三步处置流程，并逐人进行实操考核，确保所有参培职 工真正掌握应急技能。为从源头防范火灾风险，该厂开展"早发现、早整改"消防隐患排查工作，对汽机 锅炉、环保外围、非生产区等关键部位进行拉网式检查，确保不留死角，针对发现的隐患，第一时间下 发整改通知单，明确责任人、措施与时限。结合本单位生产实际和消防安全管理特点，该厂精心设计的 一块块主题鲜明、设计新颖、内容丰富的消防展板放置在主通道区域，进一步丰富消防宣传的内容、方 式、手段，传递消防正能量。此外，该厂组织开展办公楼消防疏散演练，演练中各应急小组迅速响应， 依照预案流程，顺利完成火情上报、人员疏散、初期扑救 ...

通过规范处置流程、筛选优质竞拍方等方式，该厂在确保废油处置环保合规的前提下，将废油资源转化 为企业的经济收益，助力企业增收创效，并进一步降低危险废物危害性，减轻环保储存压力，开辟出企 业绿色发展新通道。 在机组日常运维和检修过程中，该厂产生大量废油，因废油仓储空间受限，导致环保存储风险压力陡 增，根据国家危险废物处置相关要求，该厂主动出击，通过国能e拍平台，快速完成废油处置，短期内 清空存量废油，大幅降低仓储场地的环保运维压力，同时避免废油长期存储可能产生的安全隐患，为后 续管理腾出存储空间，实现"存量清零风险递减"的环保目标。本次处置，该厂以1800元/吨起拍，最终 以3350元/吨的成交价完成交易，较起拍价增收1550元/吨，直接提升了非电力业务收益，这不仅对冲部 分生产运营成本，更证明电厂废料并非"负担"，而是可挖掘的"隐形资产"。 截至11月14日，鄂温克电厂依法合规处置废油10.98吨，创效3.68万元，有效保障企业生产和生态环境安 全，为该厂绿色发展奠定坚实基础。 ...

Core Viewpoint - The foreign-funded food-grade recycled plastic factory in Jiangxi, operated by Eurogreen Asia Group, exemplifies China's transition towards a high-quality circular economy, driven by national strategies focused on "reducing plastic, lowering carbon emissions, and recycling" [1][3]. Company Overview - Eurogreen Asia Group's Jiangxi factory, known as Eurogreen Longyi New Materials (Jiangxi) Co., Ltd., has become one of the few foreign-funded factories in China capable of producing food-grade rPET (recycled polyethylene terephthalate) in the past two years [3][4]. - The factory's transformation is led by Ms. Lu Jiaqing, who has over 15 years of experience in the recycled plastics industry and emphasizes the importance of a transparent, credible, and replicable system for sustainable operations [3][4]. Technological and Operational Upgrades - The factory underwent a comprehensive upgrade, including redesigning production lines to meet food-grade rPET requirements, enhancing control precision in key processes, and establishing a traceable management system in line with international standards [4][5]. - The factory has achieved stable product quality, allowing it to enter the supply chains of international brands, a significant milestone for domestic enterprises [4][5]. Industry Impact and Policy Engagement - Lu Jiaqing aims to extend the factory's successful model to the broader industry, addressing structural challenges such as policy limitations, technical standards, and market recognition in China's food-grade recycled plastics sector [5][6]. - As a leader in the EU Chamber's working group on promoting open food-grade rPET application policies, Lu has been actively involved in policy discussions and industry feedback, advocating for necessary breakthroughs to elevate China's recycling efforts from "mass recovery" to "high-value recycling" [5][6]. Future Outlook - The Jiangxi factory is changing the narrative of China's role in the global recycled plastics market, aligning technical standards with international benchmarks and establishing a reliable supply chain that meets long-term contract demands [6][7]. - The factory's practices indicate a potential shift in China's plastic circular economy from a follower to a leader, as it adapts to increasing sustainable procurement demands from international brands and stricter regulations [6][7].

Core Insights - The Shanghai Composite Index decreased by 3.77% during the week of November 17-21, 2025, with the machinery equipment sector declining by 4.78%, ranking 13th out of 31 in the Shenwan industry classification [1][2] - The machinery equipment industry's PE-TTM valuation fell by 4.73%, with the best-performing sub-sector being engineering machinery components, which increased by 4.80% [1][2] Industry Developments Humanoid Robots - Leading supply chain companies are establishing specialized, global manufacturing systems and accelerating core customer binding, entering a more certain phase of capacity preparation and order fulfillment [2] - Blues Intelligent Robot's Yong'an Park has commenced operations, achieving a full-process integration from new material R&D to core component manufacturing and assembly, with plans to double core component and assembly scale by 2026 [2] - Changying Precision disclosed that it generated approximately 35 million yuan in revenue from two overseas brands in H1 2025, with cumulative deliveries of humanoid robot components exceeding 80 million yuan by August 2025 [2] Semiconductor Equipment - Domestic semiconductor equipment is advancing from single-point breakthroughs to higher precision and more complete process paths, with continuous improvement in industry chain coverage and mass production validation [3] - Saiwei Electronics plans to invest up to 60 million yuan in Chip East to develop mature process lithography machines and related ecosystems, aiming for mass production by 2026 [3] - Zhongke Feimeng's first wafer flatness measurement device has been delivered to HBM customers, covering quality monitoring needs across various advanced processes [3] Controlled Nuclear Fusion - Recent procurement projects from plasma research facilities and fusion energy companies indicate a focus on integrated magnets, low-temperature loading, and complete equipment [4] - The current procurement includes 15 tons of Nb₃Sn superconducting wire with a budget of 75 million yuan and 290 km of REBCO superconducting tape with a budget of 35 million yuan [4] Investment Recommendations - The company suggests focusing on core component suppliers as leading robot manufacturers accelerate product cost reduction and channel expansion [4] - Attention is recommended for domestic equipment suppliers in the thin film deposition and storage testing chains [4] - The tungsten materials and temperature control systems in the controlled nuclear fusion engineering supply chain are expected to benefit from ongoing reactor projects [4]

Group 1: Copper - The copper prices are under pressure due to the increasing divergence within the Federal Reserve regarding the potential interest rate cut in December, following better-than-expected U.S. non-farm payroll data [2] - The weekly price changes for copper are as follows: London copper down 1.38%, Shanghai copper down 1.43%, and U.S. copper down 1.07% [2] - Copper inventories across major exchanges have accumulated, with London copper at 155,000 tons (+14.22%), New York copper at 403,000 short tons (+5.66%), and Shanghai copper at 111,000 tons (+1.09%) [2] - Domestic electrolytic copper social inventory stands at 195,000 tons, showing a decrease of 3.28% [2] - The weekly operating rate for electrolytic copper rods is 70.07%, reflecting a week-on-week increase of 3.19 percentage points [2] - In the medium to long term, insufficient capital expenditure in copper mining and frequent supply-side disruptions may lead to a shift from a tight balance to a shortage in the copper supply-demand landscape, potentially driving prices upward [2] Group 2: Aluminum - Aluminum prices have retreated from high levels due to macroeconomic disturbances, with Shanghai aluminum down 2.32% to 21,500 yuan/ton [3] - The current price of alumina has decreased by 0.18% to 2,850 yuan/ton, while the main futures contract for alumina fell 3.22% to 2,731 yuan/ton [3] - The operating capacity for metallurgical-grade alumina reached 90.456 million tons per year, with a weekly operating rate down 0.77 percentage points to 80.40% [3] - London aluminum inventory is at 548,000 tons (-0.79%), while Shanghai aluminum inventory increased by 7.67% to 123,700 tons [3] - The domestic electrolytic aluminum operating capacity is nearing its ceiling, and with stable demand growth, a shortage may emerge next year, suggesting a potential upward trend in aluminum prices [3] Group 3: Lithium - Lithium carbonate prices have increased by 8.40% to 92,300 yuan/ton, while lithium spodumene prices rose by 8.25% to 1,089 USD/ton [4] - The weekly production of lithium carbonate is 22,100 tons, reflecting a 2.7% increase [4] - The inventory of lithium salts has been continuously reduced, indicating a tightening supply situation, with lithium carbonate experiencing 14 consecutive weeks of inventory reduction [4] - The production of lithium iron phosphate in October reached 394,000 tons, marking a year-on-year increase of 51% and a month-on-month increase of 11% [4] - The lithium sector is expected to enter a new demand-driven cycle, with companies in this space likely to see a profit turning point [4] Group 4: Cobalt - Cobalt prices are expected to continue rising due to a tight supply situation, with MB cobalt up 0.74% to 23.83 USD/pound and domestic cobalt prices up 2.02% to 405,000 yuan/ton [5] - The Democratic Republic of the Congo has lifted its cobalt export ban, transitioning to a quota system, but current approvals for cobalt intermediate exports remain pending [5] - The expected transportation time indicates that Congolese raw materials may not arrive until March 2026, maintaining a tight supply-demand balance in the cobalt market [5]

Core Viewpoint - The report highlights a significant increase in electricity consumption across various sectors, with a total electricity consumption of 857.2 billion kWh in October, representing a year-on-year growth of 10.4% [2][3]. Summary by Category Electricity Consumption - In the first ten months of 2025, total electricity consumption reached 8.17 trillion kWh, showing a year-on-year increase of 5.1%. The breakdown by sector includes: - Primary industry: 1.262 billion kWh, up 10.5% - Secondary industry: 54.781 billion kWh, up 3.7% - Tertiary industry: 16.671 billion kWh, up 8.4% - Urban and rural residents: 353.2 billion kWh, up 6.9% [2][3]. Electricity Pricing and Coal Prices - The national average electricity purchase price in November 2025 decreased by 2% year-on-year but increased by 2.8% month-on-month. The price of thermal coal remained stable at 821 yuan/ton as of November 21, 2025 [3]. Hydropower Data - As of November 21, 2025, the water level at the Three Gorges Reservoir was 174 meters, consistent with previous years. The inflow and outflow rates showed significant increases of 41% and 70% year-on-year, respectively [3]. Generation Capacity and Power Generation - Cumulative power generation for the first ten months of 2025 was 7.43 trillion kWh, reflecting a year-on-year growth of 2.3%. The breakdown of generation sources includes: - Thermal power: -0.4% - Hydropower: -1.6% - Nuclear power: +8.7% - Wind power: +7.6% - Solar power: +23.2% [3]. Investment Recommendations - The report suggests focusing on undervalued thermal power investments, particularly in the Beijing-Tianjin-Hebei region, and highlights opportunities in charging pile and photovoltaic infrastructure investments. Key companies to watch include: - Thermal power: Jingtou Energy, Jingneng Power, Datang Power - Charging pile equipment: Teradyne, Shenghong Co. - Photovoltaic assets: Nanshan Energy, Longxin Group - Hydropower: Changjiang Power [4].

华鑫证券近日发布有色金属行业周报：价格方面，周内伦敦黄金价格为4072.85美元/盎司，环比11月14 日+1.75美元/盎司，涨幅为0.04%。周内伦敦白银价格为48.91美元/盎司，环比11月14日-3.11美元/盎司， 跌幅为-5.97%。 以下为研究报告摘要： 投资要点 贵金属：12月美联储进一步降息分歧大，贵金属价格支撑仍在 价格方面，周内伦敦黄金价格为4072.85美元/盎司，环比11月14日+1.75美元/盎司，涨幅为0.04%。周内 伦敦白银价格为48.91美元/盎司，环比11月14日-3.11美元/盎司，跌幅为-5.97%。 数据方面，美国11月纽约联储制造业指数18.7，前值10.7，预期5.8。美国9月失业率4.4%，前值4.3%， 预期4.3%。美国9月非农就业人口变动11.9万人，前值-0.4万人，预期5.1万人。美国11月标普全球综合 PMI初值54.8，前值54.6，预期54.6。美国11月标普全球制造业PMI初值51.9，前值52.5，预期52。 数据方面，前期由于美国政府停摆，9月就业数据本周才发布，虽然9月新增非农就业人数超过预期，但 是9月失业率反弹，导致市场判断12月美 ...