公用事业行业周报：前7月电力及热力行业利润总额同比+23%，河南辅助服务市场细则出台

Investment Rating - The report maintains the investment rating for the power and gas sectors, indicating a stable outlook for these industries [2]. Core Insights - The total profit of the electricity and heat industry increased by 23% year-on-year in the first seven months of 2024, with the electricity and heat production and supply sector achieving a profit growth of 23.2% [44]. - The report highlights the performance of various segments within the power sector, including thermal, hydro, and nuclear power, as well as the gas sector, recommending specific companies for investment based on their performance and market conditions [2][44]. Summary by Sections 1. Power Sector Data Tracking - Thermal power: The domestic coal spot price decreased by 0.6% week-on-week, with Qinhuangdao port coal inventory down by 10.3% [8]. - Hydro power: As of August 30, 2024, the inflow and outflow of the Three Gorges Reservoir decreased by 35.11% and 27.44% year-on-year, respectively [17]. - Green energy: In the first seven months of 2024, new wind and solar installations reached 29.91 GW and 125.53 GW, respectively [25]. - Total electricity consumption: The total electricity consumption for the first seven months of 2024 was 55,971 billion kWh, reflecting a year-on-year increase of 7.7% [36]. 2. Natural Gas Key Data Tracking - Domestic gas prices increased by 3.29%, while imported gas prices rose by 0.95% as of August 30, 2024 [40]. - The average LNG ex-factory price in Shanghai was 5,112 RMB/ton, marking a 3.29% increase from August 23 [40]. 3. Industry News - The report notes that the total profit of large-scale industrial enterprises in the first seven months of 2024 was 40,991.7 billion RMB, with a year-on-year growth of 3.6% [44]. - The report also mentions the issuance of green certificates, with 1.82 million green certificates issued in July 2024, and a total of 8.89 billion green certificates issued by the end of July 2024 [44]. 4. Company Announcements - Zhejiang Energy Power reported a net profit of 3.927 billion RMB for the first half of 2024, while Changjiang Power reported a net profit of 11.362 billion RMB [4]. 5. Investment Recommendations - For the power sector, the report recommends focusing on thermal power companies such as Zhejiang Energy, Anhui Energy, and Shenneng, as well as hydro and nuclear power companies like China Nuclear Power and China General Nuclear Power [2]. - In the gas sector, the report suggests investing in companies like Xin'ao and Jiufeng Energy [2].