广发证券：绿电投资应关注政策驱动，核电及城燃关注需求改善

Group 1 - The core viewpoint of the report emphasizes that green electricity is still experiencing a downward trend from installed capacity to revenue and profit, but the implementation of Document No. 136 is expected to enhance the stability of ROE in the green electricity sector [1] - The report suggests focusing on subsidies and environmental value as entry points for investment in green electricity, while downplaying the emphasis on performance [1] - For nuclear power, continuous approval of nuclear units is noted, with a greater focus on market-driven electricity price levels [1] Group 2 - The gas sector is currently in a state of margin recovery, with more attention on the growth of gas sales volume [1] - Both the nuclear power and gas sectors exhibit stronger cyclical attributes [1]