LEP(SH:600644) Sou Hu Cai Jing·2025-05-30 11:31Group 1 - The Southern five provinces (Guangdong, Guangxi, Yunnan, Guizhou, Hainan) are accelerating power reform, with a pilot program for spot trading set to begin in June 2025 [1][2] - The reform aims to establish a unified national electricity market, promote renewable energy consumption, and reduce electricity costs through market mechanisms [2][4] - The pilot phase will allow full market entry for renewable energy, with a focus on accurate wind power forecasting and real-time system coordination [4][6] Group 2 - Previous reforms in Sichuan and Chongqing led to significant stock price increases, with Leshan Electric rising over 150% and Chongqing Three Gorges A soaring more than 150% [6] - The market anticipates that the Southern five provinces' joint reform could create new investment opportunities and challenges in the capital market [6] - Key related stocks include China Nuclear Power, Huaneng International, Longyuan Power, and Three Gorges Energy, with respective market capitalizations of 189.84 billion, 108.32 billion, 139.94 billion, and 123.06 billion [7][8][9][10]