传统能源行业周报：浙江以制度开放建设全国首个大宗商品资源配置枢纽

Investment Rating - The industry investment rating is not explicitly stated in the provided content, but it can be inferred that the overall market sentiment is cautious, particularly towards the coal and utility sectors, which have shown underperformance [4][36]. Core Views - The textile, retail, and light manufacturing sectors performed well this week, while non-ferrous metals, utilities, and coal sectors lagged behind [2][3]. - The market experienced a low open and high close, with the Shanghai Composite Index fluctuating around 3300 points [3]. - There is a cautious outlook for the upcoming week, with a focus on whether market momentum can be sustained and if industry rotation can continue smoothly [3]. Market Performance - The Shanghai Composite Index rose by 1.81%, while the CSI 300 increased by 1.32%. The CSI 1000 and ChiNext Index saw gains of 2.63% and 3.34%, respectively [4][23]. - The utility sector underperformed, ranking 30th out of 31 sectors with a decline of 0.10%, while the coal sector ranked 29th with a slight decrease of 0.02% [4][23]. - The top-performing stocks in the utility sector included Xin Zhu Co., ST Lingda, and Tianfu Energy, with increases of 15.57%, 11.71%, and 10.54%, respectively [36]. Industry Dynamics - Zhejiang has been approved to build the first national hub for bulk commodity resource allocation, aiming to enhance its capabilities in oil and gas and expand the range of resources managed [27][28]. - A national roadmap for the unified electricity market has been released, with goals set for 2025, 2029, and 2035 to establish and perfect the market [29][31]. - The average price of Qinhuangdao 5500 kcal thermal coal was reported at 722 RMB/ton, showing a slight year-on-year decline [32]. Company Dynamics Utility Sector - The utility sector saw mixed performance, with significant gains for Xin Zhu Co. and ST Lingda, while companies like Shimao Energy and Water Development Gas experienced notable declines [36][37]. Coal Sector - In the coal sector, Yunwei Co., Antai Group, and Anyuan Coal Industry were the top gainers, while Yanzhou Coal, Zhengzhou Coal Electricity, and China Coal Energy faced losses [38][41].