——西藏自治区成立60周年电网发展成就综述 次吉美朵 六十载砥砺奋进，一甲子沧桑巨变。在党中央的亲切关怀和全国各族人民的大力支持下，西藏从落后走 向进步，从贫穷走向富裕，从封闭走向开放，西藏经济社会实现了跨越式发展，取得了举世瞩目的成 就。 辉煌六十载，美丽新西藏离不开电力事业的强力支持。西藏电网以钢铁脊梁扛起经济发展重任，用光明 动脉激活高原生机，在苍茫天地间镌刻下属于新时代的壮丽史诗，向着建设社会主义现代化新西藏的征 程昂首阔步，砥砺前行。 "大网电"攀上世界屋脊 "奇迹工程"架起坚强电网 藏区发展动力十足 在阿里地区普兰县，达瓦洛珠点亮房间里的灯泡，满脸幸福地说："这几年用上了大网电，生活也被照 亮了！"这曾是他难以想象的场景。 阿里地区距离拉萨足足有1500多千米，路程为平均海拔4500米以上的高原。这样遥远的距离、恶劣的条 件，让阿里地区的电网长期处于孤网运行状态。直到阿里联网工程投运，这一情况才得到根本性改变。 这条被称为"电力天路"的奇迹工程，是西藏最重要的主干电网之一。 高原有了新希望 1月7日，西藏定日发生6.8级地震。当日中午，定日县城恢复供电；当日晚，地震震中所在的定日县长 所乡恢复供电 ...

Core Insights - China has achieved a remarkable milestone in its power generation capacity, reaching 2.81 billion kilowatts and an annual electricity generation of 9.4 trillion kilowatt-hours in 2024, establishing itself as a global leader in the electricity sector [1][9][10] Historical Context - In 1949, China's total installed power generation capacity was only 1.85 million kilowatts, which was insufficient for even a medium-sized city's electricity needs [3] - The early days of electricity in China were characterized by limited access, with rural areas relying on kerosene lamps and candles, highlighting the significant progress made since then [3] Development and Infrastructure - The rapid expansion of power generation began in the 1980s with the construction of numerous thermal and hydropower plants, driven by the need for electricity despite environmental concerns [5] - The implementation of the "West-East Power Transmission" project in 2002 marked a significant advancement in China's electricity infrastructure, enabling the transfer of electricity over vast distances with minimal losses [5][12] Technological Advancements - China has developed cutting-edge technologies in high-voltage power transmission, allowing for efficient electricity transfer with losses of less than 5% over long distances [5] - The introduction of new energy storage systems, projected to exceed 73 million kilowatts by 2025, will enhance grid stability and efficiency [7] Export and Global Influence - In 2024, China's exports of electrical equipment, including transformers, saw significant growth, with transformer exports increasing by 67.94% [9] - China's high-voltage power lines are extending internationally, contributing to electricity supply in countries like Laos and Pakistan as part of the Belt and Road Initiative [9] Major Projects - Major hydropower projects such as the Three Gorges and Baihetan dams are not only crucial for energy supply but also serve as symbols of national pride [10] - The construction of a new hydropower station on the Yarlung Tsangpo River in Tibet, with a capacity of over 70 million kilowatts, is expected to significantly impact the energy landscape in Eastern China [10] Challenges and Resilience - Despite challenges such as reduced electricity imports from Russia and issues in other countries' power sectors, China's comprehensive approach to energy policy and infrastructure development has proven effective [12] - The strength of China's electricity sector lies in its integrated approach, encompassing policy, infrastructure, technology, and operational efficiency [12]

Group 1 - The core observation from the recent visit by Tech Buzz China's founder, Ma Rui, indicates that power supply issues for data centers are no longer a focal point in China, contrasting sharply with the ongoing discussions in the U.S. regarding electricity consumption and grid limitations related to AI development [1] - McKinsey predicts that global enterprises will invest $6.7 trillion in new data centers between 2025 and 2030 to meet AI development needs, while the current state of the U.S. power grid poses significant challenges to supporting such investments [2] - Chinese power expert David Fishman highlights that China's proactive investments in the power sector have ensured a high level of reserve capacity, providing a robust power supply for AI data centers, which is not the case in the U.S. [2] Group 2 - Fishman notes that China's advancements in power generation and transmission, as well as progress in next-generation nuclear energy, contribute to its strong power supply, which is difficult to imagine in the U.S. due to lower reserve margins [2] - Even if AI electricity demand grows rapidly, China has sufficient idle coal-fired power plants to activate while continuing to develop sustainable energy projects, unlike the U.S., which faces lengthy approval processes for new power generation capacity [2] - Data from the State Grid shows that electricity load in its operating area reached a historical high of 1.233 billion kilowatts, an increase of 53 million kilowatts compared to last year, reinforcing China's leading position in the AI sector [3]

Investment Rating - The report maintains a "Positive" investment rating for the utility sector [7] Core Insights - The implementation of the market-oriented pricing mechanism for renewable energy in Shandong Province marks the beginning of a new development cycle for the sector. The total scale of mechanism electricity for 2025 is set at 9.467 billion kilowatt-hours, with wind power accounting for 8.173 billion kilowatt-hours and solar power for 1.294 billion kilowatt-hours. The bidding price range for wind power is between 0.094 and 0.35 yuan per kilowatt-hour, while for solar power it is between 0.123 and 0.35 yuan per kilowatt-hour, both below the benchmark price for coal-fired power [2][6] Summary by Sections Mechanism Pricing Implementation - Shandong Province has officially launched the market-oriented pricing mechanism for renewable energy, with the total mechanism electricity for 2025 set at 9.467 billion kilowatt-hours, including 8.173 billion kilowatt-hours from wind and 1.294 billion kilowatt-hours from solar [2][6] - The bidding limits for wind and solar projects are established at 0.35 yuan per kilowatt-hour, which is lower than the coal-fired benchmark price of 0.3949 yuan per kilowatt-hour [6] Project Capacity and Bidding Details - The mechanism electricity for individual projects is calculated based on installed capacity, annual utilization hours, and other factors. The annual utilization hours for land wind, offshore wind, and solar are set at 2417, 2860, and 1253 hours respectively [6] - The expected installed capacity for wind and solar projects eligible for the mechanism is approximately 5 GW and 1.3 GW respectively, reflecting a policy direction favoring wind power development over solar [6] Investment Recommendations - The report suggests that the "carbon neutrality" initiative and electricity market reforms will reshape the value of electricity operators throughout the 14th Five-Year Plan period. It recommends focusing on quality coal-fired operators and major hydropower companies, as well as leading renewable energy firms [6][12][13][14][15][17]

分类：按安装方式和应用场景，电力模块主要分为半封闭预制舱式电力模块、全封闭预制舱式电力模块、撬块式电力模块三种类型。 发展背景：传统数据中心供配电方案多采用攒机建设模式，各个设备运到现场后再进行拼装，占地面积大，运维效率低、安全风险高。相较之下，电力模块 采用一体化超融合设计，高度集成变压器、进线/母联柜、UPS、维旁柜等核心设备，有效节省占地面积，降低现场交付难度，逐步成为智算中心供配电优 选方案。 市场规模：近几年，具有快速部署、节省空间、智能管理等特点的电力模块产品关注热度持续升高、应用空间不断拓宽，市场规模呈现高速增长态势。2024 年，中国电力模块市场规模达21.3亿元，同比增速达到25.6%，较2023年增速提高超过5个百分点。 报告导读： 随着AIGC应用快速迭代，AI大模型训练、推理需求激增，推动数据中心机柜功率密度大幅提升。智算中心作为承载AI算力的核心底座，单柜功率密度已突 破20kW，相比通算数据中心增长数倍，这对智算中心供配电带来巨大挑战。传统数据中心供配电方案多采用攒机建设模式，各个设备运到现场后再进行拼 装，占地面积大，运维效率低、安全风险高。相较之下，电力模块采用一体化超融合设计 ...

Core Viewpoint - The Hong Kong power sector experienced a collective surge, driven by record electricity demand and positive market sentiment towards the sector [1] Group 1: Market Performance - Power stocks such as Huadian International Power rose over 5%, while Huaneng International Power, Datang Power, and China Resources Power increased by 2% [1] - Datang New Energy saw a rise of 1.7%, with other companies like CGN Power and China Power also following suit [1] Group 2: Electricity Demand - The State Grid reported that electricity load hit a historical high for two consecutive days, with a single-day load increase exceeding 70 million kilowatts, reaching a maximum load of 1.229 billion kilowatts, a 4.1% increase from last year's peak [1] - Regions such as Chongqing, Shaanxi, and Henan experienced significant increases in air conditioning load due to high temperatures, prompting local power departments to enhance inter-provincial transmission and energy storage applications to ensure reliable power supply [1] Group 3: Analyst Insights - Guosheng Securities released a report suggesting that the combination of peak summer demand and performance catalysts, along with low costs, supports the fundamentals of the power sector, recommending an increase in allocation to this sector [1] - CITIC Construction believes that AI will significantly drive global electricity demand growth, predicting that electricity consumption by global data centers will more than double by 2030 [1] - Recent increases in capital expenditure expectations from overseas companies indicate sustained high investment in the AI sector [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 中國電力國際發展有限公司 | | | 呈交日期: | 2025年8月6日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02380 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 12,370,150,983 | | 0 | | 12,370,150,983 | | 增加 / 減少 (-) | | | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 中 國 電 力 國 際 發 展 有 限 公 司 China Power International Development Limited （在香港註冊成立的有限責任公司） （股份代號：2380） 董事局會議召開日期 中國電力國際發展有限公司（「本公司」）董事局（「董事局」）宣佈，董事局 會議將於 2025 年 8 月 21 日（星期四）舉行，藉以審批（其中包括）本公司及其 附屬公司截至 2025 年 6 月 30 日止六個月之未經審核簡要綜合財務報表，以及 考慮宣派中期股息，如有。 承董事局命 中國電力國際發展有限公司 主席 賀徙 香港，2025 年 8 月 6 日 於本公告日期，本公司董事為：執行董事賀徙及高平，非執行董事胡建東、周杰、黃青華 及陳鵬君，以及獨立非執行董事李方、邱家賜及許漢忠。 ...

Group 1 - The State Grid has set a historical record for electricity load for two consecutive days, with a maximum load reaching 1.229 billion kilowatts, an increase of 4.1% compared to last year's peak [1] - High temperatures in regions such as Chongqing, Shaanxi, and Henan have led to a significant increase in air conditioning load, prompting local power departments to enhance cross-province power transmission and energy storage applications [1] - Sichuan's maximum electricity load reached 73.56 million kilowatts, marking the third historical high this year, with a 6% increase from last year's peak load of 69.29 million kilowatts [1] Group 2 - China’s power equipment manufacturers are experiencing growth opportunities due to rapid demand increase and tight supply of transmission and distribution equipment [3] - The export of power transformers in China is expected to see a year-on-year growth rate of over 40% in the first half of 2025, continuing a high growth trend [3] - Major domestic electrical equipment manufacturers are anticipated to see an influx of orders due to sustained high capital expenditure in the AI sector from overseas companies [3] Group 3 - Companies in the power operation sector include Datang Power (00991), China Resources Power (00836), Huadian International (01071), Huaneng International (00902), Longyuan Power (00916), CGN Power (01816), Xintian Green Energy (00956), and China Power (02380) [4] - Companies involved in power grid equipment include Dongfang Electric (01072), Shanghai Electric (02727), Harbin Electric (01133), Saijing Technology (00580), and Goldwind Technology (02208) [5] Group 4 - CITIC Securities predicts that AI will significantly drive global electricity demand growth, with global data center electricity consumption expected to more than double by 2030 [2] - Recent increases in capital expenditure expectations from major overseas companies indicate sustained high investment in the AI sector [2]

中国发展网讯 近日，中国电力建设企业协会公布2025年度"中国电力优质工程"评审结果，国家电投山 东公司所属山东半岛南海上风电基地U场址一期450兆瓦项目、诸城100兆瓦/204兆瓦时储能示范项目和 东明100兆瓦/200兆瓦时储能项目3个项目获评该奖项，获奖数量集团公司排名第一，圆满完成年度工程 建设创优任务。 国家电投东明100兆瓦/200兆瓦时储能项目作为山东省第二批储能示范项目，以"超前策划、样板引 路"打造优质工程。设计上首创多级消防安全系统并纳入地方标准，采用"锂电+液流电池"混合储能技术 及100%预制舱式设计，将土地利用率提升至10.38%；管理中构建"四方一体"质量体系，获电力企业现 场管理五星级现场；打造"储能+光伏+风电"绿色场站，降低厂用电；该工程获发明专利1项、实用新型 专利2项，多项QC成果奖，优质工程"四大专项评价"均达优良等级，在储能行业树立新标杆。 2023年，国家电投海阳100兆瓦/200兆瓦时储能项目正式获评"中国电力优质工程"和"中国安装工程优质 奖"，实现了公司在行业优质工程奖项上零的突破。2024年，国家电投山东半岛南海上风电基地V场址 500兆瓦项目正式获评"中国 ...