Core Viewpoint - The National Energy Administration is promoting pilot projects for existing and new coal power units to meet clean carbon reduction and efficient regulation indicators as part of the new power system construction initiative [1] Group 1: Clean Carbon Reduction - The initiative encourages the use of zero-carbon and low-carbon fuel blending and carbon capture, utilization, and storage (CCUS) measures to significantly reduce carbon emissions from coal power [1] - The approach will be tailored to regional characteristics and resource endowments to enhance the effectiveness of carbon reduction efforts [1] Group 2: Efficient Regulation - The focus is on improving the rapid load adjustment and peak regulation capabilities of coal power units, particularly in areas with high demand for grid regulation and peak shaving [1] - The initiative requires compliance with all technical indicators for efficient regulation, promoting innovation in main and auxiliary equipment and system integration optimization [1] - Coal power units should possess reliable start-stop peak regulation capabilities to meet the evolving demands of the power grid [1]

Core Viewpoint - The National Energy Administration has announced the initiation of pilot projects focused on the construction of a new power system, emphasizing the exploration of new technologies and models in seven key areas [1] Group 1: Pilot Project Focus Areas - The pilot projects will concentrate on seven specific directions: grid-structured technology, system-friendly renewable energy power stations, smart microgrids, synergy between computing power and electricity, virtual power plants, large-scale high-proportion renewable energy delivery, and next-generation coal power [1] - The approach will involve both single-direction pilots based on typical projects and multi-direction comprehensive pilots based on typical cities [1] Group 2: Implementation Strategy - The implementation will be tailored to local conditions, selecting appropriate directions for pilot projects and determining reasonable scales and scopes [1] - Innovation will be encouraged through the adoption of new technologies and models, supporting pilot projects with results from national science and technology major projects related to smart grids and energy technology equipment [1]

国家能源局：因地制宜新建或改造一批不同类型的虚拟电厂 智通财经6月4日电，国家能源局组织开展新型电力系统建设第一批试点工作。围绕聚合分散电力资源、 增强灵活调节能力、减小供电缺口、促进新能源消纳等场景，因地制宜新建或改造一批不同类型的虚拟 电厂，通过聚合分布式电源、可控负荷、储能等负荷侧各类分散资源并协同优化控制，充分发挥灵活调 节能力。持续丰富虚拟电厂商业模式，通过参与电力市场、需求响应，提供节能服务、能源数据分析、 能源解决方案设计、碳交易相关服务等综合能源服务，获取相应收益。 ...

Market Overview - On the first trading day after the Dragon Boat Festival, all three major A-share indices rose, with the Shanghai Composite Index up 0.48% to 3363.48 points, the Shenzhen Component Index up 0.35% to 10076.01 points, and the ChiNext Index up 0.73% to 2007.76 points [1] - The total A-share trading volume reached 3060.25 billion yuan, while B-share trading volume was 0.76 billion yuan [2] Sector Performance - Sectors such as jewelry, precious metals, household light industry, and cultivated diamonds saw significant gains, while sectors like automobile manufacturing, steel, molten salt energy storage, and medical waste treatment lagged behind [4] - The cultivated diamond sector led with an average increase of 3.31%, followed by immunotherapy at 2.68% and gold concepts at 2.47% [5] Company Insights - **Shutai Shen**: The company is developing a new molecule, STSA-1002, targeting C5a for multiple indications, with a high mortality rate of 35%-45% for ARDS, affecting nearly 3 million people globally each year [9] - **Guanhao Biological**: The company is advancing clinical research on mesenchymal stem cell treatments and is working on the application for a human genetic resource sample library to support innovation in drug development and health services [9] - **Zoli Pharmaceutical**: The company aims to expand its marketing channels and accelerate national market coverage, focusing on traditional Chinese medicine and enhancing brand awareness [9] - **Zhongyuan Xiehe**: The company is experiencing steady growth in its pathology diagnosis business and sees significant long-term market potential in stem cell innovative drugs [9] Policy and Regulatory Updates - The National Energy Administration has issued opinions to optimize the qualification licensing management system for the electricity sector, supporting the innovation of new business models and exempting certain new operational entities from licensing requirements [3]

Core Insights - China's pumped storage capacity has ranked first globally for nine consecutive years, with Japan and the United States following in second and third place respectively [1] - The rapid growth of renewable energy sources like wind and solar power has led to significant decarbonization in the power system, but it also presents new technical challenges that require advanced solutions like pumped storage [1] - The development of pumped storage is crucial for supporting the transition to a new power system and achieving high-quality growth in the sector [1] Group 1: Industry Development - As of the end of 2024, China's total installed capacity of pumped storage power stations is expected to reach 58.69 million kilowatts, with the East China region having the largest capacity [1] - The total approved and under construction capacity of pumped storage power stations nationwide is approximately 200 million kilowatts [1] - The report highlights that the resource endowment for pumped storage in China is exceptional, with a total potential capacity of about 160 million kilowatts identified across various provinces [2] Group 2: Market Mechanisms - Regions like Guangdong and Shandong have initiated pilot projects for pumped storage to participate in electricity market transactions, indicating a shift towards market-oriented operations [2] - The current two-part pricing policy for pumped storage has been beneficial for investment returns, but there is a need to transition towards a market-based pricing mechanism as the electricity market evolves [3] - A proposed pricing mechanism includes a "benchmark capacity price + difference contract" model to facilitate a gradual transition to market pricing [3] Group 3: Technological Advancements - Continuous technological innovation is essential for enhancing the competitiveness of pumped storage, focusing on areas such as design, construction, and operational management [3] - Increased investment in research and development within the pumped storage sector is necessary to lower costs and improve economic performance throughout the project lifecycle [3]

Core Points - The National Grid is accelerating the construction of key projects to ensure electricity supply during the summer peak, with significant progress in various regions [1][6] - The construction of UHV (Ultra High Voltage) projects is being prioritized to optimize the main grid and support the high-quality development of renewable energy [2][6] - The Ningxia to Hunan ±800 kV UHV DC transmission project is set to begin live testing, with a focus on ensuring zero defects in the system [3] - The Xinjiang ±800 kV UHV DC transmission project is expected to deliver over 36 billion kWh of electricity annually once operational [5] - The National Grid is working on 140 key projects to ensure reliable electricity supply during the summer peak [6] - The construction of pumped storage and new energy storage projects is being accelerated to support the transition to a clean and efficient energy system [13][17] Group 1 - The National Grid is maintaining construction momentum during the Dragon Boat Festival to ensure project timelines are met [1] - The National Grid has completed 39 UHV projects and is currently constructing 8 additional projects [2] - The Ningxia to Hunan UHV project is undergoing critical testing to ensure operational readiness [3] Group 2 - The Xinjiang UHV project is part of a larger initiative to enhance electricity transmission capabilities from renewable energy sources [5] - The National Grid is focusing on 140 key projects to enhance power supply reliability during peak demand [6] - The construction of the Denshuan pumped storage power station is progressing, with significant manpower involved [14] Group 3 - The Chengdu energy storage station has been completed, marking a significant advancement in the new energy system [15] - The National Grid is promoting the development of energy storage projects to improve grid stability and support renewable energy integration [17] - The company is collaborating with local enterprises to ensure the successful integration of energy storage systems into the grid [17]

5月29日，"高质量发展能源行"网评引导活动调研团继续能源之旅。 能源是国民经济的基础产业和战略性产业。南方电网如何全方位融入和服务粤港澳大湾区经济社会发 展，助力大湾区向新而兴，成为国际一流湾区和高质量发展典范？一起来看！ 风起伶仃洋 绿电赋能未来 三角岛及桂山海上风电场鸟瞰图。（南方电网广东珠海供电局供图） 位于粤港澳大湾区海域中心区域的 珠海桂山海上风电场 海上风电项目 装机20万千瓦，每年可提供 超过4.93亿千瓦时的清洁电力 节约标煤约16.02万吨 减排二氧化碳约38.25万吨 调研团在110千伏桂海三角岛站，了解桂山海上风电建设运行情况。（姚纯铭 摄） 该风电场于2016年开工建设 是广东省首个开发建设和投入运行的 南方电网公司加快构建加建设新型电力系统，进一步提升电网对新能源的消纳能力。 (南方电网 广东珠海供电局供图) 南方电网公司进一步完成 海上"风电+储能"并网研究实验室 建设 致力于建设并完善南方电网区域 海上风电机组及风电场的并网标准 至今已完成了5种新机型并网测试 运维船驶入桂山海上风电场。（林强 摄） 除了珠海，在阳江，三山岛海上风电柔直输电工程建设正酣。该工程是全国首个由电网 ...

Core Points - Jiangsu Linyang Energy Co., Ltd. is set to hold its 2024 Annual General Meeting on June 6, 2025, focusing on profit distribution and project funding [1][2] - The company aims to enhance its strategic positioning in the global smart grid, renewable energy, and energy storage sectors, with a commitment to becoming a leading provider of products and services in these fields [4][12] - The company reported a revenue of 6.742 billion yuan for the reporting period, a decrease of 1.89% year-on-year, and a net profit of 753 million yuan, down 27% year-on-year [4][5] Financial Performance - The company achieved a net cash flow from operating activities of 973 million yuan, an increase of 185.19% year-on-year [4] - As of the end of the reporting period, the company's net assets amounted to 15.665 billion yuan, a growth of 1.15%, while total assets reached 24.689 billion yuan, up 6.48% [4] - The company’s smart meter segment secured contracts worth approximately 631 million yuan from the State Grid and 601 million yuan from the Southern Grid [5] Strategic Initiatives - The company is focusing on expanding its overseas market presence, particularly in Europe, the Middle East, and Southeast Asia, while also enhancing its domestic market strategies [10][17] - The company is actively involved in the development of new energy projects, with over 1,245 MW under construction and 545 MW newly initiated projects [7] - The company is leveraging technology and innovation to improve product competitiveness, including advancements in AI applications within power systems [6][11] Research and Development - The company is increasing its R&D investments to enhance product safety, reliability, and cost-effectiveness in the energy storage sector [11] - The company is also focusing on the development of hydrogen production equipment through a joint venture, aiming to capitalize on the growing hydrogen energy market [12] Governance and Compliance - The company has established a robust internal control system, ensuring compliance with relevant laws and regulations, and has received a standard unqualified opinion from its auditing firm [27][22] - The board of directors has conducted multiple meetings to review and approve various operational and financial reports, ensuring transparency and accountability [19][21]

Core Insights - Shenyang, once known as the "Republic's Eldest Son" and "Oriental Ruhr," is experiencing a transformation in its industrial landscape, leveraging new energy systems to revitalize traditional industries [1][2] - The integration of digital technologies and smart manufacturing is becoming essential for large factories, with a focus on stable power supply to ensure product quality [3][4] - The shift towards renewable energy is evident, with companies like Northern Heavy Industries Group becoming self-sufficient in clean energy and contributing excess power to the grid [6][7] - Shenyang is also advancing in future industries such as new materials, biomedical, artificial intelligence, and new energy storage, with significant projects underway [8] Group 1: Industrial Transformation - Shenyang's industrial electricity consumption remains significant, with industrial usage accounting for nearly 40% of total electricity in early 2025 [1] - The Shengu Group, a key player in the region, is utilizing a digital factory model supported by a health management platform for equipment [2] - The reliance on digital management systems like MES, EAM, and QMS is critical for maintaining production quality in automated environments [3] Group 2: Energy Management and Sustainability - The State Grid Shenyang Power Supply Company is implementing a 5G smart distribution network that can autonomously detect and respond to power supply issues within 75 seconds [4] - Northern Heavy Industries has installed solar panels that generate over 25 million kilowatt-hours annually, significantly reducing carbon emissions [7] - The collaboration between the power supply company and local government aims to enhance energy efficiency and promote renewable energy integration among large industrial users [6][7] Group 3: Future Industry Development - Shenyang is making strides in smart connected vehicles, with a project that integrates intelligent sensing devices for autonomous driving applications [8] - The construction of a high-tech cable tunnel demonstrates the city's commitment to modernizing its power supply infrastructure, ensuring reliable electricity for emerging industries [8][9] - Innovative maintenance practices, including the use of drones for inspections, are being explored to enhance operational efficiency in power supply management [9]

近日，国网山西临汾供电公司顺利完成220千伏紫金山变电站为期6天的综合检修任务。通过主变压器在线监测装置升级、 一键顺控智能化改造及全电压等级设备维护消缺等一系列工作，全面提升区域电网安全运行水平，为山西晋南地区电力可靠供 应注入强劲动能。 为保障检修工作安全高效开展，国网临汾供电公司统筹调配各部门技术力量，组建了由变电检修、高压试验、继电保护、 变电运维等专业骨干组成的攻坚团队。团队先后开展5次方案推演，制定26项风险预控措施。检修期间，工作人员克服倒闸操 作复杂、交叉作业多等重重困难，严格遵循"一板一眼、一丝不苟、严精细实、专业专注"的工作标准，高质量完成48台高压设 备150余项试验项目和53项继电保护装置试验，实现零差错、零失误。 此次综合检修显著提升了220千伏紫金山变电站设备健康水平，为服务山西南部能源基地建设、助力电网迎峰度夏筑牢坚 实基础。下一步，国网山西电力将持续深化设备精益化管理，加快智能运检技术推广应用，全力构建更加安全、稳定、高效的 新型电力系统。 【责任编辑：刘澄谚 】 220千伏紫金山变电站是连接晋南地区电力输送的关键枢纽，承担着区域电力调配与负荷支撑的重要职责。此次检修工作 围绕 ...