（来源：千龙网） 新华社北京2月3日电 题：迎峰度冬关键期，电力系统如何应对极端天气冲击 新华社记者刘诗平、戴小河 冬季以来，我国电力负荷屡创新高。在全球变暖背景下，气候系统不稳定性增加，极端天气频发，电力 系统如何有效应对？气象与电力部门如何协同发力？记者3日对此进行了采访。 冬季以来，全国用电负荷首次突破14亿千瓦、单日用电量首次突破300亿千瓦时，国家电网负荷8次创冬 季新高，3个区域电网和10个省级电网负荷多次刷新纪录。 协同创新机制提升迎峰度冬保供能力 面对气候变暖带来的极端天气挑战，电力系统通过深化气象融合、创新预测机制、强化全网协同，有效 提升迎峰度冬保供能力。 "寒潮期间，依托煤电油气运保障工作部际协调机制，气象部门提供更精准的气候预测和实时监测，国 家电网发挥特高压大电网资源优化配置优势，通过全国统一电力市场实现跨区最大输送电力约1.2亿千 瓦，有效缓解供需压力。"国网能源研究院有限公司经济与能源供需研究所所长韩新阳说。 天气气候影响致今冬电力负荷创新高 据介绍，为保障电力稳定供应，气象与电力部门加强协同。2025年7月，国网能源院与国家气候中心、 国网西南分部成立电力气象研究专班，发挥三方 ...

Complaint Situation - In December 2025, the hotline received 2,468 complaints, primarily focused on electricity connection, power outage repairs, and meter measurement [3] - For the entire year of 2025, the hotline received 28,837 complaints, with the majority concerning electricity connection, power outage repairs, and meter measurement [6] - The main complainants were State Grid Corporation (2,125 complaints), Southern Power Grid Company (569 complaints), and Inner Mongolia Power Group (538 complaints) [6] Complaint Handling - In December 2025, energy companies resolved 2,562 complaints within the stipulated time [7] - Throughout 2025, energy companies handled 27,773 complaints, achieving a timely resolution rate of 99.97% [8] December 2025 Complaint Hotspots - Issues included frequent power outages and low voltage in certain regions, particularly in Inner Mongolia and Heilongjiang, due to inadequate equipment management and maintenance [9] - Non-compliance in electricity connection procedures was reported in Zhejiang and Guangdong, where companies processed applications incorrectly [9] - Poor management of meter reading and installation was noted in Guangxi and Tianjin, leading to billing discrepancies [9] Appeal Situation - In December 2025, the hotline processed 2,533 complaints and received 297 appeals, resulting in a complaint appeal rate of 11.73% [10] - For the entire year, 28,149 complaints were resolved, with 2,704 appeals received, leading to a complaint appeal rate of 9.61% [12] Appeal Handling - In December 2025, the National Energy Administration handled 115 appeals and resolved 344, focusing on electricity connection, power outage repairs, and meter measurement [13] - For the year, 1,673 appeals were received, with 2,380 resolved, primarily concerning electricity connection and meter measurement [16] December 2025 Appeal Hotspots - Low voltage and frequent power outages were reported in Shaanxi and Sichuan due to inadequate network optimization and maintenance [17] - Issues with meter measurement and electricity changes were noted in Jilin and Henan, leading to incorrect billing [17] Reporting Situation - In December 2025, the hotline received 124 reports, with the majority concerning electrical facility licensing and electricity connection [19] - For the entire year, 1,456 reports were received, with high numbers from Sichuan, Guangdong, and Shaanxi [22] Reporting Handling - In December 2025, the National Energy Administration processed 74 reports and resolved 100 [23] - Throughout the year, 1,216 reports were handled, with 1,353 resolved, addressing verified violations through regulatory measures [23] Work Requirements - Energy companies are urged to enhance their energy supply capabilities and service quality during the winter peak demand period [24] - Companies should strengthen risk monitoring, improve supply reliability, and optimize response to energy service requests [24] Typical Cases - A complaint from Yunnan regarding low voltage was validated, leading to corrective measures by the local power supply bureau [25] - A complaint from Henan about incorrect electricity pricing was confirmed, resulting in a refund to the customer [25] - A report from Jiangsu about improper handling of distributed photovoltaic connections was substantiated, prompting regulatory action [26] - A report from Ningxia regarding false documentation for electrical facility licensing was confirmed, leading to administrative penalties [27] - A complaint from Guangxi about illegal subcontracting and non-compliance with construction standards was validated, resulting in regulatory investigation [27]

Core Viewpoint - The construction of the ±800 kV UHVDC project from Western Inner Mongolia to Beijing-Tianjin-Hebei has officially commenced, marking the first transmission channel for the "Shagora" renewable energy base in Inner Mongolia [1] Group 1 - The project is significant as it represents the first high-voltage direct current (HVDC) transmission line from Inner Mongolia, aimed at facilitating the delivery of renewable energy [1] - This initiative is part of a broader strategy to enhance energy transmission capabilities and support the integration of renewable energy sources into the national grid [1]

Group 1 - The completion of the North Line of the Yanhan-Jiwei Phase II project marks a significant milestone, with a total length of 89.54 kilometers, laying a solid foundation for the water supply to the Weibei region by 2026 [1] - The Yanhan-Jiwei project is a crucial part of the national water network, capable of annual water regulation of 1.5 billion cubic meters, benefiting over 14 million people across major cities like Xi'an, Xianyang, Weinan, and Yangling [1] - The project aims to address water resource shortages in the Weibei "dry belt" and will facilitate water rights exchange to provide water indicators for water extraction from the Yellow River, supporting ecological protection and high-quality development in the Yellow River basin [1] Group 2 - The commissioning of the Jinshang-Hubei ±800 kV UHVDC transmission project enables the transmission of clean electricity from the upper reaches of the Jinsha River to Hubei over nearly 1,900 kilometers, delivering approximately 40 billion kilowatt-hours of clean energy annually [2] - This project is expected to replace about 12 million tons of standard coal and reduce carbon dioxide emissions by approximately 30 million tons, promoting the large-scale development of hydropower and wind-solar integration in Sichuan [2] - The project has innovatively developed and applied a full range of high-altitude specialized equipment, marking a significant advancement in China's UHV transmission technology in complex plateau environments [2]

Core Insights - The "Ningdian Ruxiang" project, China's first high-voltage direct current transmission line primarily for renewable energy, has been put into operation, marking a significant step in the country's energy transition [1][2] - The project has a total investment of 28.1 billion yuan and a power transmission capacity of 8 million kilowatts, expected to supply over 36 billion kilowatt-hours annually to Hunan, meeting about one-sixth of the province's electricity demand [2][3] Investment Trends - Energy investment in China is accelerating towards green and new energy, with significant projects underway, and a total investment exceeding 1.5 trillion yuan in key energy projects in the first half of the year, a 21.6% increase year-on-year [2][4] - Investments in renewable energy generation are growing rapidly, with land-based wind power investments in Guangxi and Xinjiang doubling compared to the previous year, and offshore wind investments in Guangdong, Fujian, and Shanghai also seeing significant increases [2][4] Infrastructure Development - The construction of high-voltage transmission lines is becoming a key trend, facilitating the large-scale optimization of clean energy distribution and driving growth in related industries [3][4] - The "Ningdian Ruxiang" project utilizes advanced equipment and technologies, positively impacting the power equipment and construction sectors, demonstrating a dual empowerment effect between the project and the industry [3] Emerging Energy Solutions - The development of new energy systems is crucial, with significant investments in hydrogen energy and energy storage projects, which are expected to alleviate issues related to the integration of high proportions of renewable energy [4] - The market for smart grids, new energy storage, and green hydrogen is anticipated to grow, with ongoing upgrades to existing grid infrastructure and continued investment in cross-regional transmission channels [4]

Financial Data and Key Metrics Changes - Total revenues for Q2 2020 were $278 million, driven by record product sales, with a year-to-date total of $513 million [21][5] - Product sales from oncology franchises totaled $240 million, reflecting a 51% increase from the previous year [22] - R&D expenses increased to $198 million in Q2 and $393 million for the first half of 2020, indicating a focus on pipeline investment [24] Business Line Data and Key Metrics Changes - ADCETRIS net sales were $168 million in Q2, with a full-year guidance maintained at $675 million to $700 million [6][25] - PADCEV net sales in the U.S. were $57 million in Q2, a 66% increase from Q1, with full-year guidance set at $215 million to $235 million [7][25] - TUKYSA generated $16 million in revenue in its first partial quarter post-launch [10] Market Data and Key Metrics Changes - The company reported strong adoption of PADCEV for metastatic urothelial cancer, with ongoing trials to expand its use [8][9] - TUKYSA is being positioned in the market for HER2 positive breast cancer, with approvals in multiple countries [10][11] Company Strategy and Development Direction - The company aims to expand the indications for its commercial brands and is advancing over a dozen early-stage assets in clinical and preclinical development [14] - A virtual R&D day is planned to provide more details on the pipeline and commitment to first-in-class therapies [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory despite challenges posed by the COVID-19 pandemic [5] - Positive feedback from KOLs on clinical data supports the potential for accelerated approvals in various indications [13][90] Other Important Information - The company ended Q2 with $896 million in cash and investments, bolstered by the sale of Immunomedics shares [24] - The company is refining its guidance for R&D expenses to a range of $820 million to $870 million for 2020 [25] Q&A Session Summary Question: Insights on TUKYSA's initial launch - Management noted it is early in the launch but is pleased with the awareness and uptake in both academic and community settings [41][42] Question: Factors affecting PADCEV's guidance - Management indicated that while the initial uptake has been strong, growth rates may slow as the launch progresses, with guidance reflecting a 35% to 55% growth rate in the second half [44][47] Question: Gating factors for BLA filing for TV - Management is actively working towards a BLA submission and is encouraged by the positive data from the pivotal trial [51][54] Question: Initial launch feedback for TUKYSA - There is significant enthusiasm among doctors regarding TUKYSA, and it is being used in both patients with and without brain metastases [58][61] Question: Details on the INNO2VATE trial - The trial is focused on evaluating the role of tisotumab vedotin as a single agent or in combination with other therapies for cervical cancer [67] Question: PADCEV usage in frontline settings - Management confirmed ongoing trials to evaluate PADCEV in combination with KEYTRUDA in frontline metastatic disease [75][78]

Summary of Seagen (SGEN) FY Conference Call - April 29, 2025 Company Overview - **Company**: Seagen (SGEN) - **Industry**: Biotechnology, specifically focused on cancer therapies - **Products**: Three approved products - ADCETRIS, PADCEV, and DUKYSA [4][5] Key Points and Arguments Product Pipeline and Development - Seagen has a robust pipeline with approximately 12 to 14 products in clinical development, aiming to expand existing drugs into blockbuster status [6] - ADCETRIS has surpassed $1 billion in global sales, with expectations for PADCEV and TUKYSA to follow suit [6] - Upcoming drug, TB, is set to present full data at ESMO, targeting cervical cancer [5][61] Recent Collaborations - Seagen announced two deals with Merck, focusing on the drug LV, an antibody drug conjugate, and a commercial deal for TUKYSA [7][8] - The collaboration with Merck is based on mutual respect and successful past projects, particularly with PADCEV [9][10] Competitive Landscape - The triple-negative breast cancer segment is underserved, with a significant need for new therapies due to poor prognosis [13][14] - LV is being optimized for use in triple-negative and hormone-responsive breast cancer, with promising early results [16] Financial Position and Business Development - Seagen expects to have approximately $2.5 billion in capital available for development and expansion following the Merck deal [20][21] - Plans include developing more than a dozen products, expanding globally, and enhancing manufacturing capabilities [22][24] - The company is open to business development deals, including in-licensing and acquisitions, to bolster its pipeline [25][26] PADCEV Performance - PADCEV has achieved a 35% market share in the second-line treatment setting in the U.S. [30] - The drug is undergoing pivotal trials to expand its use in frontline settings, with promising data from combination therapies [34][36] Future Opportunities - Seagen is exploring various indications for PADCEV, including non-muscle invasive bladder cancer, with a focus on improving patient outcomes [40][46] - TUKYSA is positioned for label expansion in breast cancer and other HER2-expressing malignancies, with ongoing trials [50][57] Upcoming Data and Expectations - Full data for Tisotumab vedotin (TB) will be presented at ESMO, with expectations of strong anti-tumor activity in cervical cancer [59][61] Other Important Content - The company emphasizes the importance of optimizing dosing schedules for drug efficacy, as seen with PADCEV [15] - Seagen's commitment to thorough due diligence in potential deals is highlighted, ensuring that only promising opportunities are pursued [28] This summary encapsulates the key insights from the Seagen FY Conference Call, focusing on the company's strategic direction, product pipeline, collaborations, and market positioning.

Summary of Seagen (SGEN) Conference Call on April 29, 2025 Company and Industry Overview - **Company**: Seagen (SGEN) - **Industry**: Oncology and Pharmaceutical Collaborations Key Points and Arguments 1. **Collaboration with Merck**: Seagen announced two significant collaborations with Merck, focusing on the development and commercialization of ladiratuzumab vedotin (LV) and TUKYSA, with a 50-50 cost and profit sharing agreement for LV worldwide [5][6][7] 2. **Financial Terms**: Seagen will receive an upfront payment of $600 million for LV and $125 million for TUKSA, along with a $1 billion equity investment from Merck at $200 per share. The total potential payments across both collaborations could reach approximately $4.5 billion [5][6][8] 3. **Clinical Development**: LV is currently in Phase I and II trials for breast cancer and other solid tumors, showing promising antitumor activity. The focus is on optimizing dosing schedules, particularly weekly administration [8][9][10] 4. **TUKYSA Commercialization**: TUKYSA is approved in five countries for HER2 positive breast cancer and is expected to expand its market presence in Asia, the Middle East, and Latin America through Merck's established commercial capabilities [11][12][13] 5. **Strategic Benefits**: The collaboration with Merck is expected to enhance the development and commercialization of both drugs, leveraging Merck's expertise in solid tumor clinical development and its global commercial presence [6][7][10] 6. **Regulatory and Market Expansion**: Seagen is actively building its international capabilities, with over 100 staff in Europe to support TUKYSA's launch in Canada and Europe. The EMA is currently reviewing TUKYSA's EU marketing authorization application [12][13] 7. **Pipeline Development**: Seagen has a robust pipeline with over a dozen drugs in development, including ADCETRIS, PADCEV, and TUKYSA. The company aims to expand its commercial drug portfolio significantly [15][43][46] 8. **Future Collaborations**: Seagen is open to future collaborations and acquisitions, focusing on expanding its global footprint and enhancing its pipeline with innovative ADCs and other cancer therapies [28][90][92] Additional Important Content 1. **Risk Factors**: The call highlighted potential risks, including the ability to close Merck's equity investment and uncertainties related to pharmaceutical development and regulatory approval processes [3] 2. **Market Potential**: The collaboration is expected to address significant patient populations, particularly in breast and gastric cancers, with a focus on optimizing treatment regimens [104][105] 3. **No Standstill Provisions**: The agreement does not include any standstill provisions that would limit Merck's ability to increase its stake in Seagen in the future [51] 4. **Biomarker Development**: Seagen has developed a biomarker for LIV1, which is highly expressed in various solid tumors, allowing for broader treatment opportunities [67][68] This summary encapsulates the key discussions and strategic directions outlined during the conference call, emphasizing Seagen's collaborations, financial outlook, and future growth potential in the oncology sector.

Financial Data and Key Metrics Changes - Total revenues for Q3 2020 were $1.1 billion, with year-to-date revenues of $1.6 billion [21] - Product sales reached $267 million in Q3, with year-to-date product sales of $706 million [21] - Collaboration revenues significantly increased to $758 million in Q3, compared to $18 million in the same period of 2019 [22] - The company ended Q3 with $1.7 billion in cash and investments, bolstered by $725 million in upfront payments from Merck [25][26] Business Line Data and Key Metrics Changes - ADCETRIS sales were $163 million in Q3, a 3% decrease from Q3 2019, attributed to the pandemic's impact on new diagnoses [16][18] - PADCEV sales were $62 million in Q3, an 8% increase over Q2 2020, indicating strong adoption in both academic and community settings [19] - TUKYSA generated $42 million in net product revenues in its first full quarter since launch, with strong adoption and reimbursement coverage exceeding expectations [20] Market Data and Key Metrics Changes - The pandemic has led to a 15% decrease in new Hodgkin lymphoma diagnoses, impacting ADCETRIS sales [16][18] - The company is seeing a shift in site of care that negatively affected gross to net pricing for ADCETRIS [17] - The collaboration with Merck is expected to enhance global reach and patient access for TUKYSA and LV [10] Company Strategy and Development Direction - The company aims to invest in clinical development for ADCETRIS, PADCEV, and TUKYSA, while advancing late-stage pipeline products [12] - Strategic collaborations with Merck are focused on co-developing LV and TUKYSA, enhancing the company's market position [10][12] - The company plans to continue expanding its international infrastructure to support TUKYSA's launch in Europe [9] Management's Comments on Operating Environment and Future Outlook - Management expressed concern over the long-term impact of COVID-19 on cancer patient diagnoses and treatment [48][49] - The company remains optimistic about maintaining market share despite the pandemic's challenges [49] - Future guidance for ADCETRIS has been adjusted to $650 million to $660 million due to fewer new patient diagnoses [26] Other Important Information - The company is pursuing legal action against Daichi Sankyo for patent infringement related to a breast cancer drug [13] - Upcoming R&D Day is scheduled for November 16, where the company will discuss its pipeline and development activities [12] Q&A Session Summary Question: Can you comment on ADCETRIS market dynamics and diagnosis rates? - Management noted that product sales have increased year-over-year, but the pandemic has led to fewer patients starting treatment, which is concerning for future diagnoses [48][49] Question: What is the outlook for PADCEV's growth? - Management indicated that the launch has been strong, and while there may be a slight slowdown in growth, they are maintaining guidance and expect significant developments ahead [54][56] Question: Can you provide details on TUKYSA's launch and adoption hurdles? - The company reported strong uptake in both community and academic settings, with ongoing efforts to enhance awareness and access despite COVID-19 challenges [72][73] Question: How does the cash influx from Merck affect capital allocation? - Management emphasized that the priority is to drive existing products into blockbuster status while exploring new drug opportunities and maintaining innovation [89][92]

Financial Data and Key Metrics Changes - Total revenues for Q1 2020 were $235 million, including ADCETRIS net sales of $164 million (up 22% year-over-year) and PADCEV net sales of $34 million [22][6][5] - Royalty revenues increased to $20 million from $16 million in Q1 2019, while collaboration revenues decreased to $16 million from $45 million due to a prior milestone payment [23][24] - R&D expenses were $195 million, reflecting higher investment across the pipeline, while SG&A expenses were $122 million, driven by commercialization efforts [24][25] Business Line Data and Key Metrics Changes - ADCETRIS net sales were $164 million, maintaining guidance for full-year sales between $675 million and $700 million [6][7] - PADCEV achieved net sales of $34 million in its first full quarter, with strong uptake noted particularly in community settings [10][20] - TUKYSA was launched with positive reception, and the company is investing in a broad development program across HER2 positive cancers [12][21] Market Data and Key Metrics Changes - ADCETRIS sales growth was driven by frontline indications in Hodgkin lymphoma and T-cell lymphoma [17] - PADCEV's initial sales performance indicates strong physician and patient reception, with ongoing efforts to evaluate its use in earlier lines of bladder cancer [10][20] - TUKYSA's launch is supported by a dedicated sales force and marketing materials ready on the approval day, indicating strong market entry [21] Company Strategy and Development Direction - The company aims to establish ADCETRIS as the standard of care in frontline Hodgkin lymphoma and PTCL while advancing clinical trials [40] - Continued focus on the PADCEV launch and broad development program, including trials in first-line metastatic and muscle-invasive bladder cancer [40] - TUKYSA's development program includes ongoing regulatory efforts and trials in various HER2 positive cancers [36][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining guidance despite potential impacts from COVID-19, emphasizing the importance of ongoing cancer treatments [28][81] - The company is closely monitoring the impact of COVID-19 on operations and has implemented measures to ensure continuity [28] - Management remains optimistic about the future, citing strong demand for their products and ongoing clinical trials [28][40] Other Important Information - The company is involved in an arbitration process with Daiichi Sankyo regarding technology ownership, which is expected to be more efficient than court proceedings [15][100] - The company has a robust early-stage clinical pipeline, including several ADCs and immunotherapy agents [14] Q&A Session Summary Question: What has been the key drivers for the rapid uptake of PADCEV? - Management noted strong initial sales of $34 million and emphasized the drug's importance for a disease with limited treatment options [42][43] Question: What impact has COVID-19 had on ADCETRIS use? - Management acknowledged potential impacts but maintained that ADCETRIS remains a critical treatment for patients [48][50] Question: What are the plans for TUKYSA regarding co-pay barriers? - The company has established programs to assist eligible patients with co-pay costs to minimize barriers to access [56][59] Question: Can you elaborate on the discussions with the FDA regarding accelerated approval for PADCEV? - Management confirmed strong interactions with the FDA and ongoing enrollment in trials aimed at supporting accelerated approval [62][65] Question: How is the company handling Nectin-4 expression in studies? - The company is measuring Nectin-4 expression in trials and is prepared to adapt if it becomes a relevant biomarker for patient selection [90][93]