掘金雅江 - 卡位超级工程的基建生态红利 20250721 摘要 雅砻藏布江下游水电工程总投资约 1.2 万亿元，相当于三峡工程的三倍， 是国家"西电东送"和低碳转型战略的关键组成部分，预计十年内平均 每年拉动投资超千亿元，对宏观经济具有显著的结构性拉动作用。 该工程预计装机容量达 6,000 万至 8,000 万千瓦，相当于三个三峡工程， 将显著提升中国能源结构的平衡性，平滑新能源发电的周期性波动，增 强能源供应的稳定性，并带来更多投资机会。 7 月份资源品市场胜率显著提升，钢铁、化工和农林牧渔行业尤为突出。 工信部即将出台十大重点行业稳增长方案，叠加商品价格上涨和中报业 绩预告良好，进一步增强了市场对资源品景气度的预期。 墨脱水电站项目对电力设备行业是"饕餮盛宴"，水轮机、气体绝缘封 闭线路（GIL）和特高压输送通道需求巨大，预计需修建 6-7 条柔性直 流线路，核心设备投资规模约 100 亿人民币/条，东方电气、哈尔滨电 气、中国西电等企业将显著受益。 墨脱水电站项目对钢铁需求拉动显著，主体工程预计需 400-500 万吨钢 材，主要用于大坝厚钢板、机组用取向硅钢及输变电系统，四川、江西、 湖南等地的钢 ...

摘要 如何把握西藏雅下水电工程投资机会？20250721 雅江集团成立旨在保障雅夏水电工程建设，该工程总装机容量约为 6,000 万千瓦，是三峡电站的 2.68 倍，对中国电建、中国能建等企业 带来显著影响，并可能带动西藏地区固定资产投资增速。 中国电建和中国能建在水电站建设领域占据领先地位，中国电建承担了 80%以上的大中型水电站勘察设计任务，中国能建在大型水电站施工领 域市场份额超过 30%。 中国电建 2024 年收入 6,345.52 亿元，同比增长 4.05%，归母净利润 120 亿元，同比下降 7.2%，新签订单总额为 1.27 万亿元，同比增长 11.19%，显示出较强的抗风险能力和稳定增长潜力。 中国能建 2024 年收入 4,367.13 亿元，同比增长 7.56%，新签合同总 额为 1.4 万亿元，同比增长 9.57%，过去四年新签合同的年均增长率达 到 25%，发展势头良好。 雅下水电站项目总投资额为 1.2 万亿元，建设周期预计为 10 至 15 年， 每年投资金额约 1,000 亿元，将显著拉动水泥和民爆产业的需求，本土 企业如西藏天路、高争民爆等将受益。 Q&A 西藏雅夏水电工程的 ...

Group 1 - Haier Air Conditioning's subsidiary terminates investment in a new energy materials project due to economic feasibility concerns stemming from tariff policy adjustments, transportation and exchange rate fluctuations, and intensified market competition [1] - Chengdu XianDao's majority of self-developed new drug projects are in various pre-clinical stages, with significant uncertainty regarding future external transfers [1] - Huafeng Technology plans to raise up to 1 billion yuan through a private placement to fund expansion projects including high-speed line modules and defense connectors [1] Group 2 - Hehe Information expects a revenue increase of 19.15% to 26.13% year-on-year for the first half of 2025, driven by advancements in AI technology and enhanced product competitiveness [2] - Xiamen Tungsten's net profit for the first half of 2025 is reported at 307 million yuan, a year-on-year increase of 27.76%, benefiting from national subsidy policies and increased demand for 3C consumer devices [3] - China Power Construction signed new contracts worth 686.699 billion yuan in the first half of 2025, a year-on-year growth of 5.83%, with energy and power contracts increasing by 12.27% [4] Group 3 - Beilu Zhikong plans to invest approximately 600 million yuan to establish a smart mining driving industrialization base in Nanjing [5] - Zhongshi Technology anticipates a net profit increase of 85.01% to 105.75% for the first half of 2025, driven by recovering market demand in the consumer electronics sector [6] - Yongli Co. intends to establish a joint venture focused on smart pet appliances, with an investment of 2.55 million yuan for a 51% stake [7] Group 4 - Sanquan Foods plans to set up a wholly-owned subsidiary in Hong Kong and invest approximately 280 million Australian dollars to establish a production base in Australia [7] - Yunda Technology's controlling shareholder intends to transfer 10% of the company's shares at a price of 9.01 yuan per share, totaling 400 million yuan [7] - Zhongya Co.'s actual controller plans to reduce their stake by up to 1.27% over the next three months [8] - Delian Group plans to invest up to 60 million yuan of idle funds in securities to enhance cash utilization and returns [9]

Investment Rating - The report maintains an "Overweight" rating for the construction and building materials industry [4] Core Insights - The commencement of the Yarlung Zangbo River downstream hydropower project, with a total investment of approximately 1.2 trillion yuan, is expected to generate substantial construction and material orders [1][2] - The project is estimated to have a capacity of 60 million kW, with an average construction cost of 20,344 yuan/kW for hydropower projects in 2023 [1][2] - The project is anticipated to have a construction period of 15-20 years, leading to an annual investment of 60-80 billion yuan [2] - The project will significantly boost infrastructure investment growth in China, with a 4.6% year-on-year increase in infrastructure investment in the first half of 2025 [3] Summary by Sections Project Overview - The Yarlung Zangbo River downstream hydropower project is located in Linzhi City, Tibet, and involves the construction of five tiered power stations to enhance power generation efficiency [1] - The total investment is about six times that of the Three Gorges Project, which had a total investment of 207.2 billion yuan [2] Investment Structure - The investment structure for hydropower projects includes approximately 32%-45% for permanent construction, 18%-25% for electromechanical equipment, and 10%-35% for other costs [2] Market Impact - The project is part of China's "14th Five-Year Plan" and is expected to effectively stimulate infrastructure investment growth [3] - Recommended companies to watch include China Power Construction, China Energy Engineering, and several others involved in construction and materials [3]

今日45股封单资金超1亿元。 涨停战场： 龙头点睛： 雅下水电概念股掀起涨停潮 1.雅下水电 中国电建以39.68亿元封单资金居首 据证券时报·数据宝统计，7月21日，从收盘涨停板封单量看，中国电建、西藏天路、中国能建排名前三，封单量分别高达709.78万手、358.85万手、 355.1万手；随后，保利联合（维权）、铁建重工封单量均在50万手以上。 从连续涨停天数看，智元机器人核心团队持股平台拟入主的上纬新材继续涨停，斩获9连板，为近期A股大牛股之一；人民同泰、美邦股份、北化股 份、建设工业4股今日实现3连板。 以封单金额计算，今日多达45股封单资金超1亿元。中国电建、西藏天路、高争民爆排名前三，封单资金分别高达39.68亿元、37.82亿元、13.51亿元； 保利联合、中国能建、东方电气、美邦股份、上纬新材、华新水泥封单金额均在5亿元以上。 | | | | | | 7月21日涨停股封单资金排行 | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 代码 | 简称 | 收盘价 | 换手率 | 涨停板封单 | 封車资金 | | 涨停原因 | | | ...

Core Viewpoint - The commencement of the Yarlung Tsangpo River downstream hydropower project in Tibet is expected to significantly boost demand across various sectors, including civil explosives, tunneling, and geotechnical industries, leading to a positive outlook for related companies and industries [1][2]. Group 1: Project Overview - The Yarlung Tsangpo River downstream hydropower project involves the construction of five cascade power stations with a total investment of approximately 1.2 trillion yuan [1]. - Tibet's hydropower resources are abundant, with an estimated capacity of about 200 million kilowatts, accounting for nearly 30% of the national total, making it the highest in the country [1]. Group 2: Investment Opportunities - The project is projected to generate a total value of approximately 53.5 billion to 95.4 billion yuan in turbine and generator business, with potential growth in the hydropower equipment sector post-2030 [1][2]. - Key beneficiaries in the investment and design construction sectors include China Power Construction and China Energy Engineering [2]. - In the tunneling equipment sector, companies such as China Railway Engineering and Tianjin Heavy Industry are highlighted as significant players [2]. Group 3: Sector-Specific Beneficiaries - In the civil explosives sector, regional leaders like Gaozheng Explosives and Yipuli are expected to benefit from the project [2]. - The cement sector will see potential gains for regional leaders such as Tibet Tianlu and Huaxin Cement [2]. - Companies in the geotechnical field, such as Zhongyan Dadi, and concrete additive leaders like Subote are also identified as having investment value [2].

中国电力建设股份有限公司 2025 年 1 月至 6 月主要经营情况公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 现将中国电力建设股份有限公司2025年1月至6月主要经营情况公布如下，供投 资者参阅。 一、按业务类型统计 证券代码：601669 股票简称：中国电建 公告编号：临 2025-039 | 业务类型 | 新签项目数量（个） | 新签合同金额 | 同比增减 | | --- | --- | --- | --- | | 能源电力 | 2939 | 4313.88 | 12.27% | | 水电 | 576 | 1004.55 | 66.67% | | 其中：抽水蓄能 | 292 | 413.81 | 12.14% | | 风电 | 652 | 1429.02 | 68.78% | | 太阳能发电 | 616 | 1137.43 | -28.55% | | 火电 | 272 | 196.54 | -62.03% | | 新型储能 | 96 | 209.14 | / | | 其他 | 727 | 337.20 | / ...

A股今日（7月21日）强势上扬，沪指、创业板指双双创年内新高，深证成指突破11000点，创 4个月新高；港股亦上扬，恒生科技指数一度涨超1%。 具体来看，三大股指盘中震荡上扬，北证50指数大涨超2%。截至收盘，沪指涨0.72%报3559.79点，深证 成指涨0.86%报11007.49点，创业板指涨0.87%报2296.88点，北证50指数涨2.38%，沪深北三市合计成 交17274亿元。 场内约4000股飘红，水利水电板块全线爆发，五新隧装30%涨停创出新高，中国电建、中国西电、中国 能建等涨停；钢铁、煤炭、有色、化工、石油等资源股集体上扬，柳钢股份斩获3连板，西宁特钢、八一 钢铁、盛和资源等涨停；人形机器人概念活跃，上纬新材斩获9连板，长盛轴承、中大力德等涨停；券商 板块异动，华林证券一度涨停。 港股方面，截至发稿，东方电气涨逾60%，盘中一度暴涨超700%；东北电气涨超40%，哈尔滨电气涨近 30%，重庆钢铁股份涨约25%。 水电股爆发 水利水电板块今日大幅拉升，个股狂掀涨停潮。截至收盘，五新隧装、基康技术30%涨停，冠龙节能、深 水规院等20%涨停，中国电建、中国西电、中国能建、中设股份等均涨停。 | ...

当年三峡工程、后来雄安新区都跑出一批超级牛股。 | 作者 | | 紫枫 | | --- | --- | --- | | 编辑 | | 小白 | 周末，A股注册制时代投资者必须使用的APP——市值风云App的社区被雅鲁藏布江水电工程刷屏 了。 1.2万亿的投资额，引爆了全国舆论。 超级工程的基本情况和概念股 雅鲁藏布江下游水电工程，即墨脱水电站，是中国近年来备受瞩目的国家级重点工程之一。 该工程位于西藏自治区林芝市，采用"截弯取直+隧洞引水"的创新开发方式，计划建设5座梯级电站， 总投资额高达1.2万亿元，规划装机容量接近7000万千瓦，年发电量预计超过3000亿千瓦时。 这些数字不仅体现了工程的规模之大，更凸显了其在中国能源战略中的重要地位。 早在2021年3月《中华人民共和国国民经济和社会发展第十四个五年规划和 2035 年远景目标纲要》中 就曾明确了十四五期间"实施雅鲁藏布江下游水电开发"。 2024年12月25日，中国政府正式核准该工程，标志着其从规划阶段进入实施阶段。 2025年3月，国家发改委将其列为年度重点领域重大投资项目，并推动开工。 2025年4月，为推进工程，专门成立了新的央企——中国雅江集 ...

截至7月21日收盘，抽水蓄能概念上涨4.76%，位居概念板块涨幅第3，板块内，59股上涨，基康技术 30%涨停，深水规院、冠龙节能、铁建重工等20%涨停，浙富控股、国机重装、美丽生态等涨停，永福 股份、东宏股份、通裕重工等涨幅居前，分别上涨11.68%、7.00%、6.81%。跌幅居前的有豫能控股、 协鑫能科、申菱环境等，分别下跌6.44%、1.67%、1.61%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 民爆概念 | 8.51 | 跨境支付(CIPS) | -0.90 | | 水泥概念 | 6.85 | 数字货币 | -0.67 | | 抽水蓄能 | 4.76 | 智谱AI | -0.49 | | 水利 | 4.49 | AI语料 | -0.42 | | 房屋检测 | 4.35 | 电子身份证 | -0.40 | | 地下管网 | 4.05 | 移动支付 | -0.39 | | 装配式建筑 | 3.82 | 光刻机 | -0.36 | | 高压氧舱 | 3.78 | Web3.0 | -0.36 | ...