Zheng Quan Shi Bao Wang·2025-11-04 02:25Group 1 - The smart grid concept has seen a strong surge, with companies like Zhongneng Electric reaching a 20% limit-up and others like Xintian Technology and Sanbian Technology also experiencing significant gains [1] - In the first nine months of this year, the State Grid Corporation completed fixed asset investments exceeding 420 billion yuan, marking an 8.1% year-on-year increase [1] - The total investment by the State Grid is expected to surpass 650 billion yuan for the first time this year, driven by the commissioning of several ultra-high voltage direct current projects [1] Group 2 - The acceleration of non-fossil energy substitution is a key task for achieving carbon peak goals during the 14th Five-Year Plan, focusing on the growth of new energy installations and supporting infrastructure [2] - It is estimated that during the 14th Five-Year Plan, wind and solar installations will add at least 1 billion kilowatts, with an average annual increase of around 200 million kilowatts [2] - Overall investment in the power grid is expected to remain high during the 14th Five-Year Plan, with key focus areas including distribution networks and ultra-high voltage projects [2]