Core Viewpoint - The article highlights the issuance of AAA credit ratings to various software companies in China, emphasizing the importance of integrity and creditworthiness in the software service industry [1][2][3] Group 1: AAA Credit Rated Companies - A total of 50 companies have been awarded AAA credit ratings, which are valid until August 25, 2028 [1][2][3] - Notable companies include: - Zhengcaiyun Co., Ltd. - Beijing Shenzhou Taiyue Software Co., Ltd. - Yimeng Co., Ltd. - Shenzhen Taiji Digital Technology Co., Ltd. - Guangdong Zhuowei Network Co., Ltd. [1][2][3] Group 2: Evaluation Process - The evaluation process for obtaining the AAA credit rating involves voluntary application, recommendations from local software industry associations, document review, and expert assessments [1] - The initiative aims to promote a culture of integrity and enhance self-regulation within the software industry [1][2]

Company Overview - Guodian NARI Technology Co., Ltd. is located in Jiangning Economic and Technological Development Zone, Nanjing, Jiangsu Province, and was established on February 28, 2001, with its listing date on October 16, 2003 [1] - The company specializes in power grid automation, industrial control (including rail transit), power generation and new energy, and energy conservation and environmental protection [1] - The main business revenue composition includes: smart grid 49.58%, digital energy integration 21.54%, low-carbon energy 21.22%, industrial interconnection 4.99%, integration and others 2.50%, and other businesses 0.16% [1] Financial Performance - As of March 31, 2025, Guodian NARI achieved operating revenue of 8.895 billion yuan, a year-on-year increase of 15.54%, and a net profit attributable to shareholders of 680 million yuan, a year-on-year increase of 14.19% [2] - The company has cumulatively distributed cash dividends of 23.134 billion yuan since its A-share listing, with 11.5 billion yuan distributed in the last three years [3] Stock Market Activity - On August 25, Guodian NARI's stock price increased by 2.01%, reaching 22.30 yuan per share, with a trading volume of 1.598 billion yuan and a turnover rate of 0.90%, resulting in a total market capitalization of 179.116 billion yuan [1] - Year-to-date, the stock price has decreased by 10.03%, with a 2.34% increase over the last five trading days, a 0.72% increase over the last 20 days, and a 2.50% increase over the last 60 days [1] - As of March 31, 2025, the number of shareholders increased to 110,100, a rise of 41.36%, while the average circulating shares per person decreased by 29.15% to 72,656 shares [2] Institutional Holdings - As of March 31, 2025, the second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 1.117 billion shares, a decrease of 47.293 million shares from the previous period [3] - Other notable institutional shareholders include Huaxia SSE 50 ETF, Huatai-PB CSI 300 ETF, and E Fund CSI 300 ETF, all of which have seen a decrease in their holdings [3]

文 | 国家能源局 党的十八大以来，以习近平同志为核心的党中央创造性提出 "四个革命、一个合作"能源安全新 战略，为构建新型能源体系指明了方向。能源安全事关国家经济社会发展全局，近期，国家能源 局发布《中国新型储能发展报告202 5 》，系统梳理了我国新型储能发展成就与趋势，强调新型 储能是支撑新型电力系统建设的关键技术，对实现 "双碳"目标和能源高质量发展具有战略意 义。作为关系国家能源安全的特大型骨干企业，国家电网公司深入贯彻落实党中央决策部署，以 科技创新为引领，推动新型储能产业高质量发展，全力为保障国家能源安全、服务中国式现代化 贡献国网力量。 一、国家电网公司 推动 新型储能发展成效显著 国家电网公司坚决扛起 "大国重器"责任，持续强化新型储能技术创新和机制建设，在政策支持 和市场需求驱动下，公司经营区新型储能发展实现"量""质"齐升。 （一）装机规模快速增长，调控水平持续增强 《中国新型储能发展报告 202 5 》 指出新型储能装机规模连年翻番，截至 2024年底，全国已 建成投运新型储能项目累计装机规模达7376万千瓦，较2023年底增长超过130%。 国家电网公司精准布局新型储能建设，推动装机 ...

Group 1: Central State-Owned Enterprises Innovation-Driven ETF Performance - The Central State-Owned Enterprises Innovation-Driven ETF (515900) has seen a recent increase of 0.90%, marking its third consecutive rise, with the latest price at 1.57 yuan [3] - As of August 21, 2025, the ETF has achieved a net value increase of 16.62% over the past year, with a maximum single-month return of 15.05% since inception [5] - The ETF's trading volume has been significant, with a turnover rate of 0.65% and a transaction value of 22.96 million yuan on the latest trading day [3] Group 2: Index Composition and Performance Metrics - The Central State-Owned Enterprises Innovation-Driven Index (000861) includes 100 representative listed companies evaluated for innovation and profitability, with the top ten stocks accounting for 34.11% of the index [6] - The ETF has demonstrated strong recovery metrics, with a relative drawdown of 0.08% year-to-date and the fastest recovery time of 105 days among comparable funds [5] - The ETF's management fee is 0.15%, and the custody fee is 0.05%, which are the lowest among comparable funds [5] Group 3: Liquid Cooling Technology and Humanoid Robotics - The liquid cooling technology is expected to see a significant increase in penetration within AI data centers, rising from 14% in 2024 to 33% in 2025, driven by the release of NVIDIA's GB200 NVL72 servers [4] - The humanoid robotics industry is experiencing rapid advancements, highlighted by the success of the "Tiangong" robot at the World Humanoid Robot Games, showcasing substantial progress in perception and control technologies [4]

内容概要：微电网监控系统作为衔接分布式能源与智能电网的核心枢纽，通过实时数据采集、智能控制 等技术，实现"源网荷储"一体化协同控制，保障微电网安全稳定运行。其分类多样，可按应用场景、规 模及功能侧重划分，满足不同场景需求。"十四五"以来，我国加速构建新型能源体系，国家密集出台政 策文件，推动微电网监控系统产业全链条布局，2025年行业市场规模有望突破120亿元，市场潜力巨 大。同时，我国电力建设结构性调整，电网智能化升级催生智能监测设备需求；能源结构转型中，非化 石能源发展成效显著，但新能源发电特性对电网提出更高要求，进一步拓展智能电力产品市场空间。此 外，电网规模扩张使传统检修模式难以为继，推动监测方式向智能化转变。近年来，该系统技术多维度 突破，企业类型多样且各具竞争力，区域上形成产业集群。未来，行业将呈现技术智能化、场景多元化 与模式全球化趋势，形成可持续发展格局。 上市企业：安科瑞(300286.SZ)、永福股份（300712.SZ）、特锐德(300001.SZ)、中恒电气(002364.SZ)、 山大电力（301609.SZ）、科汇股份（688681.SH）、中元股份（300018.SZ）、国电南瑞 ...

Summary of High Voltage Direct Current (HVDC) Conference Call Industry Overview - The HVDC industry is entering a new construction cycle with the approval of two major projects: the Tibet to Guangdong-Hong Kong-Macao and the Inner Mongolia to Beijing-Tianjin-Hebei lines, with a target of four approvals for the year 2025 [1][3] - Six ongoing DC projects are nearing completion, with two expected to be operational by mid to late 2026, providing support for future HVDC construction [1][5] Key Points and Arguments - **Upcoming Projects**: Several projects are expected to enter the approval phase in the second half of 2025, including the Datarat to Inner Mongolia and Zhejiang HVDC ring network [6] - **Market Demand**: The total bidding amount for HVDC equipment in the first half of 2025 was 2.48 billion yuan, with an anticipated total of 71 billion yuan in bids for the second half, including approximately 16.6 billion yuan for converter valves [7] - **Unstarted Projects**: There are numerous unstarted projects from the 14th Five-Year Plan, which are expected to create significant demand in the early stages of the 15th Five-Year Plan [8] - **Back-to-Back Projects**: Six back-to-back DC projects have been bid on, with a total capacity of approximately 3GW, indicating a positive trend for DC project development [4][9] Additional Important Content - **Market Share**: As of 2023, major players in the HVDC equipment market include China XD Group with a 26% share in converter transformers, and State Grid Corporation with nearly 50% in converter valve systems [12] - **Future Expectations**: The overall sentiment for the second half of 2025 is optimistic, with expectations of improved stock performance for companies involved in HVDC projects, as they are likely to benefit from the release of new orders [13]

央视网消息：记者从国家电网获悉，8月20日，我国首个获得核准的沙戈荒新能源外送工程——宁夏至湖南正负800千伏特高压 直流工程投产送电，每年可从宁夏向湖南输送电量超360亿千瓦时，可满足超1000万户家庭一年的用电量。 这项工程是宁夏电力外送的第三条通道，每年可向湖南输送电量超360亿千瓦时，其中新能源电量占比超过50%。 国网宁夏电力有限公司副总工程师兼发展策划部主任 米宁："宁电入湘"工程投运后，宁夏形成外送规模达2000万千瓦的输电 大通道，大幅提升新能源跨区消纳能力。经初步测算，工程在宁夏拉动投资将超过700亿元，有效带动当地基础设施和相关产业发 展。 国网湖南省电力有限公司新闻发言人 朱军飞：工程投产可为湖南增加约六分之一的电力供应，将显著提升湖南先进制造业、 数据中心等高载能产业经济竞争力，有力支撑全省电力保供和能源转型。 据了解，工程所有设备实现了国产化制造和稳定可靠运行。作为典型的"北电南送"特高压工程，与"西电东送"特高压线路发生 交叉达11次，规模之大在国内尚属首次，形成了一系列特高压交叉互跨技术。 "宁电入湘"工程从宁夏出发，途经甘肃、陕西、重庆、湖北，最终到达湖南，输电线路全长1616 ...

Core Viewpoint - The State Grid Corporation of China announced the commissioning of the Ningxia-Hunan ±800 kV UHVDC transmission project, which is significant for optimizing the distribution of clean energy and enhancing power supply security in the country [1] Group 1: Project Overview - The Ningxia-Hunan ±800 kV UHVDC project is the first approved transmission channel primarily for transporting renewable energy from the "Shagehuang" wind and solar base [1] - The project has a rated voltage of ±800 kV and a capacity of 8 million kW, spanning 1616 kilometers from Zhongning Converter Station in Ningxia to Hengyang Converter Station in Hunan [1] Group 2: Renewable Energy Contribution - The project supports a total installed capacity of 17.64 million kW, with over 70% coming from renewable sources, including 4 million kW from wind power and 9 million kW from solar power [1] - It is expected to deliver over 36 billion kWh of electricity annually to Hunan, with more than 50% of this coming from renewable energy [1] Group 3: Strategic Importance - This project is the third UHV channel for power export from Ningxia, increasing Hunan's external power receiving capacity to 16 million kW [1] - The State Grid has established the world's largest UHV transmission network, which supports reliable power supply and promotes green, low-carbon development [1]

金融界2025年8月19日消息，国家知识产权局信息显示，国网电力科学研究院有限公司、国电南瑞南京 控制系统有限公司、国电南瑞科技股份有限公司、国网河北省电力有限公司取得一项名为"一种面向直 流负荷的虚拟电厂系统及运行方法"的专利，授权公告号CN115622020B，申请日期为2022年10月。 国电南瑞科技股份有限公司，成立于2001年，位于南京市，是一家以从事软件和信息技术服务业为主的 企业。企业注册资本803208.8259万人民币。通过天眼查大数据分析，国电南瑞科技股份有限公司共对 外投资了42家企业，参与招投标项目5000次，财产线索方面有商标信息13条，专利信息5000条，此外企 业还拥有行政许可181个。 国网河北省电力有限公司，成立于1989年，位于石家庄市，是一家以从事电力、热力生产和供应业为主 的企业。企业注册资本2009517.619984万人民币。通过天眼查大数据分析，国网河北省电力有限公司共 对外投资了103家企业，参与招投标项目4258次，专利信息5000条，此外企业还拥有行政许可156个。 来源：金融界 天眼查资料显示，国网电力科学研究院有限公司，成立于2001年，位于南京市，是一 ...

国网河北省电力有限公司，成立于1989年，位于石家庄市，是一家以从事电力、热力生产和供应业为主 的企业。企业注册资本2009517.619984万人民币。通过天眼查大数据分析，国网河北省电力有限公司共 对外投资了103家企业，参与招投标项目4258次，专利信息5000条，此外企业还拥有行政许可156个。 金融界2025年8月19日消息，国家知识产权局信息显示，国电南瑞科技股份有限公司、国网电力科学研 究院有限公司、国网河北省电力有限公司、国家电网有限公司取得一项名为"一种电网设备预警限值表 格重构方法、录入方法及装置"的专利，授权公告号CN115600570B，申请日期为2022年09月。 天眼查资料显示，国电南瑞科技股份有限公司，成立于2001年，位于南京市，是一家以从事软件和信息 技术服务业为主的企业。企业注册资本803208.8259万人民币。通过天眼查大数据分析，国电南瑞科技 股份有限公司共对外投资了42家企业，参与招投标项目5000次，财产线索方面有商标信息13条，专利信 息5000条，此外企业还拥有行政许可181个。 国网电力科学研究院有限公司，成立于2001年，位于南京市，是一家以从事仪器仪表制 ...