Investment Rating - The report maintains an "Accumulate" rating for the public utility sector [1]. Core Insights - The Gansu Energy Investment Green Power Aggregation Pilot Project promotes the integration of "computing power + energy" development, with a planned capacity of 1 million kilowatts, including 750,000 kilowatts of wind power and 250,000 kilowatts of solar power [4]. - Shandong Province has issued implementation details for the source-network-load-storage integration pilot, emphasizing compliance and prohibiting illegal practices [4]. - The report highlights a decrease in electricity prices and coal prices, with the average electricity purchase price in March 2025 at 398 RMB/MWh, down 4% year-on-year [34]. Summary by Sections 1. Market Review - The public utility index rose by 2.19% from March 10 to March 14, 2025, outperforming the market [12]. - The top five gainers included KAITENG Gas (+34.7%) and LINGDA Co. (+24.2%) [12]. 2. Power Sector Tracking 2.1 Electricity Consumption - Total electricity consumption for 2024 is projected at 9.85 trillion kWh, a year-on-year increase of 6.8% [14]. - The growth rates for different sectors are: primary industry (+6.3%), secondary industry (+5.1%), tertiary industry (+9.9%), and urban-rural residential use (+10.6%) [14]. 2.2 Power Generation - Cumulative power generation for 2024 is expected to reach 9.42 trillion kWh, reflecting a 4.6% year-on-year increase [24]. - The growth rates for various power sources are: thermal power (+1.5%), hydropower (+10.7%), nuclear power (+2.7%), wind power (+11.1%), and solar power (+28.2%) [24]. 2.3 Electricity Prices - The average electricity purchase price in March 2025 is 398 RMB/MWh, down 4% year-on-year and stable compared to the previous month [34]. 2.4 Coal Prices - As of March 14, 2025, the price of thermal coal at Qinhuangdao port is 681 RMB/ton, down 21.99% year-on-year and 1.02% week-on-week [41]. 2.5 Water Conditions - The water level at the Three Gorges Reservoir is 164.01 meters, with inflow and outflow rates showing significant year-on-year increases [4]. 2.6 Nuclear Power - In 2024, 11 nuclear units have been approved, indicating a positive growth trajectory for the sector [4]. 2.7 Green Power - The report emphasizes the growth potential of green power, with significant increases in installed capacity for wind (+25.0%) and solar (+25.9%) [4]. 3. Investment Recommendations - Recommendations include focusing on hydropower companies like Changjiang Electric, thermal power companies such as Waneng Power, and nuclear power firms like China Nuclear Power [4].

江苏盐城迎来又一锂电池制造项目！ 3月11日，盐城市滨海生态环境局发布信息，盐城市源之曻储能科技有限公司（以下简称：源之曻储能） 滨海县年产20GWh储能锂电池产业 制造项目 正式（一期10GWh）公示。 | 索引号 | 1132092201437496XB/2025-00164 | 组配分类 | 生态环境 | | --- | --- | --- | --- | | 发布机构 | 盐城市滨海生态环境局 | 发文日期 | 2025-03-11 | | 文号 | | 公开方式 | 主动公开 | | 公开范围 | 面向全社会 | 时效性 | 有效 | 据此前消息显示，源之曻年产20GWh储能锂电池产业制造项目一期，在今年1月3日已正式启动建设。 二期计划投资20亿元，建设自动化清扫 机器人工厂、碳捕集（CCUS）工厂等项目。 起点锂电注意到，当前江苏盐城正加快"源网荷储"一体化布局，稳步推进新型电力系统建设，加快构建清洁低碳安全高效能源体系，全力打 造"风光名城、绿能之都"。滨海作为盐城能源基地建设的主阵地，凭借政策、交通、绿电等优势，吸引了产业链上下游多家配套企业纷至沓 来，包括国电投、三峡、天能、中科融能、中嶒 ...

文 | 山东省能源局 3月5日， 山东省发展和改革委员会、国家能源局山东监管办公室和山东省能源局联合发布 《关于印发源网荷储一体化试点实施细则的通知》 。其中提出， 源网荷储一体化试点工作按照4类模式组织实施，分别为就地就近消纳、绿电交易、 虚拟电厂 、分布式自发自用。 新能源就地就近消纳模式 和 绿电交易模式 要求一体化项目应根据企业自身需求，自愿合理配置储能。储能应自行建设，不得作为独立主体参 与电力市场交易。 各市发展改革委(能源局),国网山东省电力公司,山东电力交 易中心: 根据国家发展改革委、国家能源局《关于推进电力源网荷储 一体化和多能互补发展的指导意见》(发改能源规〔2021〕280 号)和国家能源局《关于支持电力领域新型经营主体创新发展的 指导意见》(国能发法改〔2024〕93号)等文件要求,为促进新 能源消纳利用,助力新型电力系统建设,我们研究编制了源网荷 储一体化试点实施细则。现印发给你们,并将有关事项通知如下。 一、试点模式 结合我省电力市场化改革和电力运行实际,源网荷储一体化 试点工作按照 4 类模式组织实施,分别为就地就近消纳、绿电交 -1- 易、虚拟电厂、分布式自发自用,各类模式试 ...

Investment Rating - The report maintains a positive investment rating for the electric power equipment and new energy industry [2]. Core Insights - The emergence of DeepSeek is accelerating the arrival of the AI era, significantly reshaping energy demand and driving the development of distributed clean energy systems [5][9]. - The demand for intelligent computing is boosting the AIDC (Artificial Intelligence Data Center) sector, with a focus on power distribution systems as a core component [23][46]. - The human-shaped robot industry is entering a phase of industrialization, with significant potential in core component markets such as sensors and motors [48][54]. Summary by Sections Section 1: DeepSeek and Restructured Demand - DeepSeek's efficiency improvements and open-source ecosystem are facilitating the AI era, leading to increased demand for distributed energy [9][10]. - The AI-driven demand for computing power is expected to stimulate electricity demand, with a notable increase in the need for power supply systems [14][33]. - The human-shaped robot industry is on the verge of industrialization, with a focus on reducing costs and enhancing capabilities through AI [58]. Section 2: High-Quality Innovation and Supply - The report emphasizes the importance of technological innovation in overcoming the challenges of overcapacity in the new energy sector, with DeepSeek's advancements accelerating applications in various stages of production [11][17]. Section 3: Smart Energy Internet Development - The integration of AI is pivotal in creating a smart energy internet, which is expected to enhance the efficiency and sustainability of energy systems [17][19]. - The report highlights the need for new energy systems to adapt to the increasing demand for distributed energy solutions, driven by AI advancements [21][39]. Section 4: Investment Recommendations - Key investment areas include AIDC power supply manufacturers, UPS and HVDC companies, and core component suppliers for human-shaped robots [46].

Core Viewpoint - The article highlights the significant investment in energy storage projects in Gansu Province, with over 20 major projects planned by 2025, totaling a capacity of 3.915 GW and 12.86 GWh [1]. Summary by Sections Major Construction Projects - Gansu Province's major construction project list for 2025 includes over 20 energy storage projects, with a total capacity of 3.915 GW and 12.86 GWh [1]. Energy Projects - The energy projects listed include various renewable energy initiatives such as: - 1 million kW wind and solar power projects in Zhangye and Dingxi [4]. - Multiple coal-fired power plant expansions, including 2×1000 MW units in Jinchang and Zhangye [4]. - Several pumped storage power stations, including a 1.2 million kW pumped storage station in Yumen [4]. Industry Transformation and Technological Innovation Projects - Projects aimed at industry transformation include: - High-performance silicon-fluorine new material integration project by Gansu Juhua [5]. - Clean and efficient gasification projects by Qingyang Tongxin Petroleum Technology [5]. - New energy coupling projects by Gansu Zhihui Green New Energy [5]. Social and Livelihood Projects - Social projects include: - Construction of ecological civilization villages in Gannan Prefecture [6]. - Expansion of medical facilities, including a regional medical center in Qingyang [6]. Cultural and Tourism Projects - Cultural tourism initiatives include: - Development of tourism infrastructure in key scenic areas [7]. - Expansion of the Gansu Provincial Museum [7]. Urban Infrastructure Projects - Urban infrastructure projects focus on: - Road improvement and urban heating projects in Gannan Prefecture [8]. - Smart logistics and comprehensive infrastructure projects in Lanzhou [8]. Upcoming Events - The 13th International Energy Storage Summit and Exhibition (ESIE 2025) is scheduled for April 10-12, 2025, at the Capital International Exhibition Center, featuring over 800 leading enterprises and 500 new product launches [10].

四川省新能源动力股份有限公司 收购报告书摘要 上市公司名称：四川省新能源动力股份有限公司 股票上市地点：深圳证券交易所 股票简称：川能动力 股票代码：000155 收购人名称：四川能源发展集团有限责任公司 住所：中国（四川）自由贸易试验区成都高新区天泰路 112 号 通讯地址：成都市高新区剑南大道中段 716 号 2 号楼 一致行动人名称：四川化工集团有限责任公司 住所：成都高新区剑南大道 716 号 2 栋 1 单元 18-19 层 通讯地址：四川省成都市高新区剑南大道 716 号能投大厦 一致行动人名称：四川能投资本控股有限公司 住所：中国（四川）自由贸易试验区成都市天府新区兴隆街道湖畔路西段 6 号成都科学城天府菁蓉中心 C 区 通讯地址：四川省成都市高新区剑南大道 716 号能投大厦 二、依据《中华人民共和国证券法》《上市公司收购管理办法》《公开发行证 券的公司信息披露内容与格式准则第 16 号——上市公司收购报告书》的规定， 本报告书摘要已全面披露了收购人及一致行动人在川能动力拥有权益的情况；截 至本报告书摘要签署之日，除本报告书摘要披露的信息外，收购人及一致行动人 没有通过其他任何方式在川能动力拥 ...