Core Viewpoint - The rapid charging industry is poised for significant growth due to the increasing maturity of high-voltage fast charging technology and the ongoing demand for efficient charging solutions in the electric vehicle market [1][3]. Industry Summary - There is a substantial gap in charging infrastructure, with a projected 31.4 million electric vehicles in China by the end of 2024, representing a year-on-year growth of 53.85%. The current vehicle-to-charging pile ratio stands at 2.4:1, indicating a persistent supply-demand gap for charging stations [2]. - Enhancing battery energy density and reducing charging time are critical to alleviating range anxiety among electric vehicle users. High-power fast charging is identified as the most effective solution to address these concerns [2]. - The current public charging infrastructure predominantly features low-power charging stations, highlighting the need for increased fast charging capabilities to unlock the full potential of the electric vehicle market [2]. Technology Summary - High-voltage fast charging technology is emerging as the mainstream solution for rapid energy replenishment, offering advantages such as a larger state of charge (SOC) range, higher peak charging power, lower technical difficulty, and more controllable costs compared to traditional high-current fast charging [1][3]. - The penetration of high-voltage fast charging vehicles in the mid-to-high-end market is steadily increasing, with leading automotive companies accelerating the launch of such models [3]. - The next 2-3 years are expected to see high-voltage platforms become standard in mid-to-high-end electric vehicles, with further penetration into the mainstream market [3]. Infrastructure and Component Upgrades - The development of high-voltage fast charging necessitates systematic upgrades across the entire industry chain, from electric vehicle components to charging stations and the power grid [3]. - Increased demand for high-power charging modules and enhanced thermal management requirements, such as liquid cooling technology, are anticipated at the charging station level [3]. - At the vehicle level, there will be higher demands for high-voltage components, with trends indicating a shift from IGBT to SiC power devices, alongside upgrades in safety performance and battery material systems [3]. Investment Opportunities - The fast charging sector is expected to experience rapid growth driven by strong policy support, technological advancements, and increasing market demand. Key companies to watch in the high-voltage fast charging industry include Shenghong Co., Ltd. (300693), Wolong Nuclear Material (002130), CATL (300750), Tiannai Technology (688116), and Hongfa Technology (600885) [4].

Group 1 - The core viewpoint of the articles highlights the resilience of JinkoSolar in the face of growing global photovoltaic demand and downward pricing pressure, achieving a record shipment volume and maintaining its leading position in the industry [1][4] - JinkoSolar's photovoltaic module shipment reached 92.87 GW, a year-on-year increase of 18.28%, marking the sixth consecutive year of leading global shipments [1] - The company reported annual revenue of 92.47 billion yuan and a net profit attributable to shareholders of 99 million yuan [1] Group 2 - JinkoSolar's core competitiveness lies in its technological breakthroughs, particularly in N-type technology, with an average mass production efficiency of over 26.7% for battery cells by the end of 2024 [2] - The company plans to complete over 40% of its capacity upgrades by 2025, aiming to establish a high-power TOPCon capacity of 40-50 GW by the end of the year [2] - The third-generation TigerNeo photovoltaic module, based on the TOPCon HOT4.0 technology platform, features a maximum power output of 670W and a conversion efficiency of 24.8% [2] Group 3 - JinkoSolar maintains a high level of R&D investment, adhering to the principle of "exploring one generation, developing one generation, and mass-producing one generation" [3] - The company aims to enhance the efficiency and power of N-type products to maintain competitive advantages in a highly competitive market [3] - TOPCon technology is expected to dominate the market with over 75% market share in the next three years, with JinkoSolar leading the transition from P-type to N-type products [3] Group 4 - In 2024, JinkoSolar plans to drive growth through capacity upgrades and R&D leadership, signaling a strategic focus on increasing R&D intensity and advancing digitalization in the industry [4] - The company aims to maintain a high degree of capacity integration and leverage its first-mover advantage in N-type technology to lead in technology, scale, cost, and quality [4] - JinkoSolar is committed to reinforcing its leadership position in the "N-type era" of the photovoltaic industry [4]

Core Insights - The low-altitude economy index increased by 2.22% this week, with an average daily transaction amount of 17.478 billion yuan, reflecting a 67.72% percentile over the past year [1][2] - The price-to-earnings ratio (TTM) reached 84.97 times, placing it in the 93.54% percentile for the past year [1][2] - There was a slight recovery in transaction volume compared to last week, with net inflow of main funds amounting to 0.1 billion yuan [1][2] Sector Performance - The top five performing stocks this week were Xincheng Technology, Wanfeng Aowei, Guorui Technology, Xingyuan Zhuomai, and Yingliu Co., Ltd. [3] - The bottom five performing stocks were Weihai Guangtai, Puni Testing, Chenxi Aviation, Guangdian Measurement, and Chuan University Zhisheng [3] Industry Developments - Guangzhou Low Altitude Economy Industry Development Company was established [4] - Eleven regions in Zhejiang have initiated low-altitude economy "first flight" pilot projects [4] - Aerospace Times Feipeng Co., Ltd.'s FP-981C-BE aircraft received public consultation for airworthiness certification [4] - Meituan's self-developed fourth-generation drone recently passed the Civil Aviation Administration review, obtaining the first nationwide low-altitude logistics coverage OC [4] Policy Developments - The Civil Aviation Administration issued consultation notices regarding the airworthiness certification of normal class rotorcraft and transport class rotorcraft [5] - The Civil Aviation Administration's Flight Standards and Transport Departments released draft management regulations for general aviation operation permits [5] - Hefei's low-altitude logistics cost reduction and quality improvement implementation plan was published [5] - The Ministry of Transport and ten other departments released guidelines for promoting the integration of transportation and energy [5] Key Company Updates - Zhongke Xingtai's subsidiary, Zhongke Xingtai Smart Technology Co., Ltd., has secured low-altitude related projects in four cities: Qingdao, Huzhou, Fuzhou, and Nanning [6] - Guorui Technology achieved an annual revenue of 3.4 billion yuan, a year-on-year increase of 3.61%, with a net profit of 630 million yuan, up 5.10% [6] - The gross profit margin of Guorui Technology's main business improved to 35.93%, with the radar equipment and related systems segment showing a revenue growth of 20.04%, accounting for 78.61% of total revenue [6]

为有效应对可能出现的突发情况，国网镇原县供电公司组建了9支应急抢修队伍，45名抢修人员严格执 行24小时值班制度，确保服务抢修电话时刻畅通，随时准备应对各类突发状况。公司还配备了充足的备 品备件和抢修物资，保障在故障发生时能迅速响应，及时恢复供电。 截至目前，国网镇原县供电公司已完成对5条输电线路、6座变电站和15条配电线路的巡视工作，发现并 处理2处设备隐患，清理50处树障，为电力线路开辟了安全"绿色通道"，有力保障了五一期间线路安全 畅通。此外，该公司走访了4家施工单位，发放100余份宣传资料。 下一步，国网镇原县供电公司将继续秉持严谨的工作态度，强化责任担当，不断加大保电工作力度、拓 展工作深度，以实际行动践行"人民电业为人民"的企业宗旨，为广大用户提供优质、可靠的电力服务， 助力大家度过一个欢乐、祥和的五一假期。（孙盼宏） "五一"假期将至，为确保节日期间电力供应稳定可靠，4月29日，国网镇原县供电公司迅速行动，全方 位落实保电工作，为节日期间的电力稳定供应筑牢坚实防线。 据悉，国网镇原县供电公司组建了专业运维团队，提前谋划制定详细保电方案，科学合理安排电网运行 方式。同时，对辖区内输电线路、变电站、 ...

南北两山山势陡峭、沙砾广布，难以攀爬。绿化工程刚开始实施时，数千人在山脚各处 拿锄头挖、用铁锹铲，顺着山势边修路边上山植树。但在气候多变、天气寒冷、干旱少雨的 高原大山上，种活树谈何容易？ 要提高苗木成活率和保存率，种苗是关键。"头几年，栽的树苗要么旱死，要么被水冲 走，怎样才能把树种活一度让大家非常苦恼。"付拥军感慨地说。 付拥军先从选育优良的抗旱树种入手，不断筛选良株，并将种苗严格分类后带土移栽， 本地繁育品种少，就从外地引苗试种，观察是否适应高原气候。采种、播种、采条、扦插、 做树种杂交实验……付拥军和同事们不断摸索。 又是一年春和景明，青海高原处处涌动着生机活力。"五一"假期来临之际，在青海省西 宁市南北山电力绿化区内，来自国网青海省电力公司的干部员工挥锹铲土、培土围堰、平整 踩实、提水浇灌……到处都是忙碌的身影，呈现出一片热火朝天的劳动景象。 "植树讲究'三埋两踩一提苗'，就是要埋土三次、踩实两次以及向上提起苗木一 次……"管护员付拥军不停地穿梭在人群中，不厌其烦地指导植树要点，确保每一株树苗都 能在这片土地上稳稳扎根。 ▲4月29日，国网青海省电力公司员工正在西宁市南北山电力绿化区开展义务植树活 ...

Core Viewpoint - The Digital China Innovation Competition's Energy Big Data Application Contest aims to drive innovation in the energy sector through data-driven solutions, focusing on the digital transformation needs of the industry [3][5]. Group 1: Event Overview - The final of the Energy Big Data Application Contest took place on April 28 in Fuzhou, Fujian [1]. - The contest is a key part of the Digital China Construction Summit, emphasizing the theme "Data-Driven, Integrated Innovation - Building a Smart Future Together" [3]. Group 2: Competition Details - The competition included algorithm and solution contests, with topics such as "AI-based Water Condition Forecasting for the Minjiang River" and applications of power big data in new power system construction and carbon emission monitoring [3][5]. - A total of 7,315 teams registered for the competition, setting a record for participation [5]. Group 3: Awards and Recognition - The first prize in the algorithm contest was awarded to the team from the University of Electronic Science and Technology for their AI-based water condition forecasting model [5]. - The first prizes in the solution contest were awarded to teams from State Grid Zhejiang Tongxiang Power Supply Company and State Grid Xinjiang Kashgar Power Supply Company for their projects on power big data and carbon emission monitoring [5]. Group 4: Expert Contributions - Notable speakers included Shen Weiming, an academician from the Canadian Academy of Engineering, and Guo Qing, a professor from Tsinghua University, who discussed the potential applications of big data and intelligent systems in the energy sector [6].

面对连日高温少雨天气，山西运城抢抓农时推进小麦春灌保墒，助力粮食稳产增收。在 运城市芮城县大禹渡灌区，汩汩黄河水沿着纵横交错的渠系奔腾向前注入干渴麦田。当前， 该灌区日均灌溉面积达13000亩，春灌工作已进入冲刺阶段。 4月28日，国网运城芮城县供电公司党亚斌、孙伟兵来到该灌区，协助对提水泵站变压 器、配电柜等用电设施进行检查，全力保障春灌用电安全。 "用电上有问题联系台区经理，随叫随到，用电非常有保障。"胡天妮说。 为全力做好春灌期间供电保障，国网运城供电公司开辟春灌办电"绿色通道"，推行"线 上申请+上门服务"模式，农户通过"网上国网"一键报装，供电公司主动对接需求。将春灌用 户纳入重点保电名录，通过配网可视化平台24小时监测电压、电流，"全天候"快速处置异 常。同时组织党员服务队和青年突击队加强春耕春灌用电设备、配电线路巡视，开展安全用 电宣传，增强农户安全用电和设备保护意识。 "春灌期间，我们实时监测浇灌变压器运行工况，及时开展隐患消缺，主动对接农户灌 溉用电需求，确保不误农时"。国网运城供电公司服务队队员李勇安说。 【责任编辑：刘澄谚 】 在黄汾百万亩粮食优质高产高效示范区芮城基地，一台台移动式桁架 ...

Core Viewpoint - The article highlights the dedication and contributions of He Jianguo, a deputy manager at the State Grid Qincheng Power Supply Company, emphasizing his commitment to restoring power during emergencies and improving the electrical infrastructure in the revolutionary old areas of China [1][12]. Group 1: Emergency Response and Achievements - In August 2010, during a major flood disaster in Huachi County, He Jianguo led emergency repairs, restoring power to six towns within 72 hours [2]. - In February 2021, He Jianguo coordinated a team to restore power after severe snow and ice storms caused significant damage, achieving power restoration in Huachi County after 63 hours of continuous effort [4]. - He Jianguo's motto, "I can't sleep if the circuit is down," reflects his commitment to immediate action during emergencies [5]. Group 2: Teamwork and Community Service - He Jianguo emphasizes that his achievements are a result of teamwork, stating, "This is not my individual achievement, but the result of the entire team's efforts" [9]. - He has actively engaged with the community, providing assistance beyond electrical services, such as helping elderly residents with daily needs [12][13]. - His leadership in the "配农网工程示范县" project resulted in the construction and renovation of 311.6 kilometers of 10 kV lines and the establishment of 363 standardized distribution transformer stations [9]. Group 3: Innovation and Technological Advancement - He Jianguo established the "He Jianguo Labor Model Innovation Studio," focusing on technological innovations that support high-quality development in the power grid [16]. - The company has invested 130.43 billion in the power grid, enhancing the integration of digital and intelligent technologies [17]. - New platforms and AI applications have been implemented to improve operational efficiency and service quality in the power supply sector [17].

Core Viewpoint - The 2025 Shanghai Auto Show, themed "Embrace Innovation and Win the Future," opened on April 23, showcasing advancements in automotive technology and attracting nearly a thousand domestic and international exhibitors, with a record scale and nearly a hundred new car models unveiled [1][2]. Industry Highlights - The auto show highlighted a focus on smart technology, with several automakers launching new products, including Li Auto's new family member, the Li Auto MEGA Home, and upgraded versions of the Li Auto MEGA Ultra and Li L6 [3]. - XPeng Motors showcased its humanoid robot IRON, which stands 178 cm tall and can perform various movements, emphasizing the importance of full-body intelligence in robotics [2][3]. - SAIC Group and Huawei introduced a new brand "SAIC Shangjie," marking a significant collaboration in the smart vehicle sector [3]. - Horizon Robotics presented its new urban driving assistance system, Horizon SuperDrive, and has partnered with over 40 automakers, achieving over 8 million units in pre-production deliveries [4]. Investment Strategy - The automotive sector is advised to focus on undervalued leading manufacturers and component suppliers due to performance improvements, particularly in the fields of new energy and smart technology [5]. - Recommended companies include BYD, Changan Automobile, Geely, and Li Auto in the new energy sector, as well as stable, undervalued component leaders like Huayu Automotive and Fuyao Glass [5]. - Key focus companies for the week include BYD, Li Auto, Top Group, Desay SV, and Sheng Electronics [6].

申港证券近日发布电力设备行业研究周报：根据国家能源局数据，1-3月份，全国主要 发电企业电源工程完成投资1322亿元，同比下降2.5%；电网工程完成投资956亿元，同比增 长24.8%。我们认为，在构建"新型电力系统"及"双碳目标"的背景下，非化石能源发电将逐 步转变为装机主体和电量主体，而其中风电和光伏发电的不稳定性、随机性、波动性势必需 要储能系统协调运行，来保障电力系统安全稳定运行。 以下为研究报告摘要： 投资摘要： 每周一谈：风电和光伏装机量超过火电 行情回顾： 电力设备行业本周涨跌幅为2.4%，在申万31个一级行业中，排在第6位。电力设备行业 本周跑赢沪深300。本周上证指数、沪深300、深证成指、创业板指的涨跌幅分别为0.56%、 0.38%、1.38%、1.74%。 在细分行业中，电机II、其他电源设备II、光伏设备、风电设备、电池和电网设备涨跌 幅分别为7.14%、0.27%、0.74%、4.05%、3.38%、1.54%。 电力设备行业周涨幅前五个股分别为：金杨股份、方正电机、灿能电力、震裕科技、电 气风电。 近期，国家能源局发布了今年1-3月份全国电力工业统计数据。 风电装机情况：今年3月 ...