Core Viewpoint - The establishment of the Analysis Instrument Professional Committee under the China Nuclear Instrument Association marks a significant step towards integrating industry resources, promoting collaborative innovation, and strengthening standard leadership in the nuclear instrument sector [2][8][25]. Group 1: Event Overview - The founding conference of the Analysis Instrument Professional Committee took place on December 5, 2025, in Beijing, attended by industry professionals and experts [2][5]. - The meeting was hosted by Ma Jing, Chief Expert of China National Nuclear Corporation, with notable attendees including leaders from the National Defense Science and Technology Industry Bureau and the China Nuclear Instrument Association [2][8]. Group 2: Leadership and Structure - The conference included the election of the first council members, with Hou Liudong elected as the chairman and several vice-chairmen and directors appointed [13]. - The establishment of the committee was officially recognized with a plaque presentation by Xu Pengfei, representing the China Nuclear Instrument Association [13][25]. Group 3: Strategic Importance - The committee aims to address the increasing demands for precision, reliability, intelligence, and localization in analysis instruments due to the deepening application of nuclear technology across various sectors [25]. - There is a pressing need for breakthroughs in key technologies, construction of standard systems, and deep integration of production, learning, research, and application to enhance the overall capabilities of the industry and ensure the security of the industrial chain [25]. Group 4: Academic Contributions - The conference featured high-level reports from renowned experts in the field, covering topics such as single-cell immune mass spectrometry and key technologies for digitalization of material properties [20][21]. - These discussions provided significant academic insights and shared cutting-edge technologies relevant to the analysis instrument sector [20].

Investment Rating - The report maintains a "Buy" rating for the public utility sector, indicating an expected investment return exceeding 15% over the next 6-12 months [5]. Core Insights - The report highlights a significant decline in thermal coal prices, with specific price drops noted for various coal types at different ports. For instance, the price of 5500 kcal thermal coal at Qinhuangdao port decreased by 24 CNY/ton this week [2][10]. - The report also discusses the ongoing electricity market reforms, particularly in Guangdong, where the 2026 annual trading process has commenced, involving various trading methods [3][4]. - The renewable energy sector is expected to see valuation recovery due to new policies promoting green electricity consumption and accelerated subsidy distribution [4]. Summary by Sections Market Overview - The SW public utility sector saw a slight increase of 0.12% this week, ranking 17th among 31 SW sectors. In comparison, the CSI 300 index rose by 1.28% [26]. - Notable stock performances included Min Dong Power (+16.86%) and Zhong Min Energy (+12.62%), while Shanghai Electric saw a decline of -13.53% [32]. Coal and Electricity Pricing - Thermal coal prices have rapidly decreased, with specific reductions of 24 CNY/ton at Qinhuangdao, 20 CNY/ton at Fangchenggang, and 10 CNY/ton at Guangzhou [2][11]. - Average settlement prices for electricity in Guangdong increased to 354.64 CNY/MWh, reflecting a rise from the previous week [11]. Key Events - The report notes the release of competitive bidding results for renewable energy projects under the "136" document, with significant volumes and pricing established for solar and wind energy [3][9]. - The Guangdong Electricity Trading Center has initiated the 2026 annual trading process, which will occur in phases from December 5 to December 22 [3][4]. Sector Outlook - The renewable energy sector is anticipated to benefit from policy changes aimed at enhancing green electricity consumption, suggesting a potential for valuation recovery [4]. - The report recommends focusing on national thermal power operators like Huaneng International and Guodian Power, which are expected to maintain stable earnings despite market uncertainties [4].

Core Viewpoint - China's nuclear power is advancing towards global leadership with a focus on safety, innovation, and increasing its share in energy consumption [1][2] Group 1: Development Strategy - The development strategy of China's nuclear power emphasizes safety as the top priority while promoting continuous construction of nuclear projects to boost the upstream and downstream supply chain [1] - China has achieved a complete transition from second-generation to third-generation nuclear technology, with 67 out of 112 approved and under construction nuclear reactors utilizing third-generation or higher technology, representing 60% [1] Group 2: Technological Advancements - China's nuclear technology comprehensive index has maintained the global first position for nine consecutive years, with 43% of the globally rated top units in 2024 being from China [1] - The world's first land-based commercial modular small reactor, "Linglong One," is set to be operational by 2026, showcasing China's ongoing technological iteration and optimization in nuclear power [1] Group 3: Industry Competitiveness - China is the only country that has continuously built nuclear power plants for over 30 years, developing the largest pool of nuclear professionals globally and possessing the most competitive nuclear industry supply chain [1]

中央纪委国家监委网站讯 据中央纪委国家监委驻国家能源集团纪检监察组、新疆维吾尔自治区纪委监 委消息：国家能源集团原新疆能源公司党委委员、副总经理安霖涉嫌严重违纪违法，目前正接受中央纪 委国家监委驻国家能源集团纪检监察组纪律审查和新疆维吾尔自治区监察委员会监察调查。 （中央纪委国家监委驻国家能源集团纪检监察组、新疆维吾尔自治区纪委监委） ...

央视网消息：中央纪委国家监委网站12月5日通报，据中央纪委国家监委驻国家能源集团纪检监察组、 新疆维吾尔自治区纪委监委消息：国家能源集团原新疆能源公司党委委员、副总经理安霖涉嫌严重违纪 违法，目前正接受中央纪委国家监委驻国家能源集团纪检监察组纪律审查和新疆维吾尔自治区监察委员 会监察调查。 ...

证券日报网讯12月4日，中国核电（601985）在互动平台回答投资者提问时表示，公司核电项目投资一 般为20%资本金，80%银行贷款，还款周期通常为15至23年。 ...

证券日报网讯12月4日，中国核电（601985）在互动平台回答投资者提问时表示，公司目前处于高速发 展阶段，核电机组在建及核准待建数量为19台，处于公司历史高峰期，有大量资金需求需通过贷款等途 径解决，目前公司在建项目融资成本在2%-3%之间，公司多年持续开展债务置换工作以降低融资成本， 为广大股东创造更大的价值和更好的回报。 ...

（文章来源：证券日报） 证券日报网讯 12月4日，中国核电在互动平台回答投资者提问时表示，公司股权激励相关工作尚未开 展，请关注公司后续公告。 ...

证券日报网讯12月4日，中国核电（601985）在互动平台回答投资者提问时表示，公司控股设立的中核 光电科技(上海)有限公司专注于钙钛矿光伏组件的研发和制造，目前已建成刚性1600×1200mm全自动量 产线，是行业内首条全国产化产线，产品技术指标处于行业领先水平。钙钛矿光伏产业是对中核集团新 能源领域高质量发展的重要技术支撑，随着钙钛矿产品逐步推广应用，将对业绩带来积极影响。 ...

Core Viewpoint - The company emphasizes its commitment to the nuclear energy sector, focusing on the development of nuclear power generation, multi-purpose utilization of nuclear energy, and related technical services [1] Group 1: Company Strategy - The company will actively promote the development of nuclear power generation and related industries [1] - The company plans to scientifically determine its new energy development goals in line with market conditions and relevant policies [1] - The company aims to achieve high-quality development in its operations [1]