文 | 国家能源集团 6月16日，国家能源集团山东公司蓬莱电厂101MW/205MWh复合储能电站高标准完成全部充 放电试验和涉网试验， 标志着我国首个集成磷酸铁锂、钠离子、全钒液流及飞轮 四类储能技术 的共享储能电站 正式进入商业化运营阶段 。 255MW/1020MWh！国家能源集团塔拉储能电站全容量并网发电 116项总规模8.7GWh！国家能源集团十大新型储能项目一览 15.85GWh，储能新增装机同比增长228%！5月新型储能项目分析 5月48项新型储能政策发布，136号文配套政策成各地关注重点 该项目作为国家能源局新型储能试点示范项目及集团级科技项目，开创了"磷酸铁锂+钠离子+全 钒液流+飞轮"四维储能技术深度融合的行业先河。 项目位于山东省烟台市蓬莱区渤海之滨， 由山东蓬莱公司与国能信控公司共同建设 ，总装机容 量为101MW/205MWh，规划建设31个储能单元，全部储能单元通过七条集电线路接入主变压 器35千伏母线侧，升压后接入蓬莱公司220千伏母线，以220千伏电压等级接入山东电网。项目 依托双方共同研发的" 复合能量管理-运维诊断-电力交易辅助-智能售电 "四大数字化平台，通 过AI算法实 ...

Core Viewpoint - China Power Construction Corporation (CPCC) has reported significant growth in new contracts, particularly in the new energy storage sector, indicating a strong market demand and expansion in both domestic and international markets [1][5]. Summary by Categories New Contracts Overview - In the first five months of 2025, CPCC signed 65 new energy storage projects with a total contract value of 10.75 billion RMB. The total domestic contract amount reached 377.61 billion RMB, while the international contract amount was 96.40 billion RMB, reflecting a year-on-year growth of 30.51% [1][5]. Project Details - Notable new contracts exceeding 500 million RMB include: - Yumen 200MW/800MWh independent shared energy storage project with a contract value of 1.016 billion RMB [2]. - Bazhong Kefa 410MW liquid-cooled lithium iron phosphate/titanate lithium regional centralized independent mixed energy storage project with a contract value of 810 million RMB [2]. Business Type Performance - The breakdown of new contracts by business type is as follows: - Energy Power: 2408 projects, 301.25 billion RMB, up 4.44% - Hydropower: 488 projects, 65.39 billion RMB, up 60.66% - Wind Power: 531 projects, 101.80 billion RMB, up 67.33% - Solar Power: 482 projects, 85.48 billion RMB, down 32.61% - Thermal Power: 224 projects, 14.70 billion RMB, down 62.28% - New Energy Storage: 65 projects, 10.75 billion RMB [2][4]. Regional Contract Performance - The contract amounts by region are: - Domestic: 377.61 billion RMB, down 6.67% - International: 96.40 billion RMB, up 30.51% - Total: 474.01 billion RMB, down 0.93% [5]. Major Projects - Significant projects include: - Egypt 1100MW Suez Bay Wind Power Project: 5.972 billion RMB - Nicaragua Mohelka Hydropower Station: 3.271 billion RMB - Bazhong Kefa 410MW energy storage project: 810 million RMB [6][7]. Additional Insights - The report highlights a growing interest in energy storage solutions, with 48 new policies related to energy storage released in May, indicating a supportive regulatory environment for the sector [9].

Core Points - The signing of the "Grid-type Zero Carbon Energy International Cooperation Demonstration Center" project took place on June 20, with a total investment of 4 billion yuan [1][3] - The project will be implemented by Kangfu International Leasing Co., Ltd. and Tesla (Shanghai) Co., Ltd., marking Tesla's first grid-side energy storage project in mainland China [3][5] - Tesla's Shanghai energy storage super factory is set to begin construction in May 2024, with an annual production capacity of 10,000 Megapacks, totaling nearly 40 GWh of energy storage [3][5] Company Overview - Kangfu International Leasing was established in June 1988 and went public on the New Third Board in 2015, focusing on clean energy investment and operation [5] - The project aims to create a "Lingang Zero Carbon Energy Solution" to support energy security and high-quality industrial development in Shanghai and the Lingang New Area [5][6] Industry Development - The Shanghai Lingang New Area has launched a plan to promote the large-scale and industrial development of new energy storage, targeting an application scale of 50,000 kWh and an industry scale of 50 billion yuan by 2025 [6] - By 2030, the goal is to achieve an application scale of 300,000 kWh and an industry scale reaching 100 billion yuan [6] - As of the end of 2024, the cumulative installed capacity of new energy storage projects in China is expected to exceed 73.76 million kW, with an energy scale of 168 million kWh, reflecting a growth of over 130% from the end of 2023 [6]

记者来到这家企业的装备车间，看到智能机器人来往穿梭，正与工人们协同作业。 大连融科储能技术发展有限公司副总经理 王世宇： 去年下半年我们才实现的这样一条产线，今年订单 量在急剧增加。 这家企业曾经是做钒化学品提纯，用于航空航天、催化环保领域。随着我国能源向绿色低碳转型，企业 敏锐地意识到了新的发展契机。 文 | 央视新闻 如今，风电、光伏发电增长迅速，但却是"靠天吃饭"，具有波动性、随机性和间歇性，无法做到随用 随发，因此，对新型储能的需求非常迫切。在辽宁大连，一家做钒液流电池储能的民营企业， 虽然十 几年经营亏损，却坚守主业，做强实业， 终于发展 成为新型储能赛道的全球"独角兽"企业 。 在新疆乌什，一排排集装箱组成了全球规模最大的钒液流电池储能电站。这些电池能将"风光电"等可 再生能源储存起来，等需要的时候，再将这些电能释放到电网中，这样一个巨型"充电宝"就是由辽宁 大连的一家民营企业制造的。 大连融科储能集团股份有限公司董事长 刘延辉： 能源转型未来的痛点在哪？经过很多次的一个调查研 究，就认定了全钒液流电池的技术。 我们笃定未来新能源的发展一定需要大规模的储能来做支撑的。 自主创新 新型储能扬"钒"起 ...

Core Viewpoint - The article highlights the rapid development of new energy storage systems in Sichuan, aiming to reach a total installed capacity of 5 million kilowatts by the end of 2027, with a significant portion located in Chengdu [1][8]. Group 1: Current Status and Future Goals - As of the end of May this year, Sichuan has established a new energy storage capacity of 847,000 kilowatts and 1.642 million kilowatt-hours [1]. - The goal is to achieve an installed capacity of 5 million kilowatts by the end of 2027, with at least 2 million kilowatts in Chengdu [1][8]. Group 2: Understanding New Energy Storage - New energy storage is likened to a "super power bank," essential for building a new energy system, allowing excess electricity to be stored during low demand periods and released during peak demand [2][4]. - The technology is crucial for alleviating power supply pressure during high consumption periods [2]. Group 3: User-side Energy Storage Projects - The Chengdu Steel and Vanadium Company is constructing a distributed energy storage station with a capacity of 12,500 kilowatts and 25,000 kilowatt-hours, expected to save over 4 million yuan in electricity costs annually [4]. - The project is anticipated to save the company approximately 50 million yuan over its 12-year lifecycle, with savings shared between investors and the company [4]. Group 4: Grid-side Energy Storage Projects - The Shuxiang Energy Storage Station, with a capacity of 100,000 kilowatts and 200,000 kilowatt-hours, can power 100,000 air conditioners for 2 hours and is expected to provide 58 million kilowatt-hours of peak-shaving electricity annually [5]. - The project is part of the first batch of new energy storage pilot projects in Sichuan, emphasizing the importance of energy storage in maintaining grid stability [5][6]. Group 5: Policy Support and Development - In 2024, the development of new energy storage was included in the government work report, with various policies introduced to accelerate the construction of demonstration projects [8]. - The Sichuan Development and Reform Commission has issued guidelines to enhance the pricing mechanism for new energy storage projects, further promoting their development [8].

Core Insights - The domestic energy storage industry has reached a new scale after nearly two years of rapid growth, but intense competition has permeated various segments of the new energy storage supply chain [1] - The introduction of new policies, such as the cancellation of mandatory energy storage requirements, is expected to intensify the reshuffling of the energy storage industry while also enhancing its market position [1][2] - The industry is shifting from price-driven competition to value-driven competition, emphasizing product differentiation, service quality, and innovative application scenarios [1][3] Industry Developments - The Ministry of Industry and Information Technology and other departments have implemented the "High-Quality Development Action Plan for New Energy Storage Manufacturing Industry" to optimize supply-demand relationships and expand application scenarios [1] - The decline in upstream raw material prices, such as lithium battery cells, has made the business model for commercial energy storage more viable, marking 2023 as the "Year of Commercial Energy Storage" [2] - The competition has evolved from price wars to a focus on delivery and service capabilities, as energy storage products require high-quality lifecycle management and maintenance services [2][3] Competitive Landscape - The next phase of reshuffling in the energy storage industry will be driven by comprehensive capabilities in products, services, and application scenarios [3] - Companies must avoid product homogeneity and focus on clear product positioning and customer targeting to create value through maintenance services [3][4] - The emergence of AI and other new technologies is expected to reshape the product ecosystem and enhance service value in the energy storage sector [3][4]

Group 1 - The 9th China-South Asia Expo and the 29th China Kunming Import and Export Commodities Fair opened on June 19, with a theme of "Unity and Cooperation for Development" [1] - The event spans from June 19 to June 24, featuring 16 exhibition halls and covering an area of 160,000 square meters, attracting participation from 73 countries, regions, and international organizations, with over 2,500 enterprises showcasing products [1] - Exhibits include green energy, advanced manufacturing, modern agriculture, and biomedicine, providing a platform for economic cooperation and cultural exchange [1] Group 2 - Yunnan Radio Company (Yunwu Company) made its debut at the expo, focusing on public safety business in areas such as personnel-intensive locations and emergency response, leveraging AI and information technology [3] - The company aims to integrate into the low-altitude economy development industry chain and showcase its technological innovation capabilities in public safety, emergency response, and health monitoring [3] - Kunming is strategically planning for future industries such as low-altitude economy, intelligent computing power, life sciences, and new energy storage, enhancing policy guidance to drive breakthroughs for high-quality development [3]

Core Viewpoint - The article highlights the progress and significance of the independent energy storage demonstration project in Huade County, Inner Mongolia, which integrates both electrochemical and hydrogen storage technologies to enhance energy efficiency and grid stability [1][3]. Group 1: Project Overview - The Huade County energy storage project is set to achieve 90% completion by the end of June, featuring a total installed capacity of 100 MW and 400 MWh [1]. - The project includes 90 MW/360 MWh of electrochemical storage and 10 MW/40 MWh of hydrogen storage, making it the largest hydrogen storage demonstration project in China [1]. Group 2: Technological Innovation - The dual storage solution allows for efficient energy storage during low demand periods and rapid energy release during peak demand, optimizing power distribution and utilization [1]. - This innovative approach significantly enhances the efficiency of energy storage and allocation, providing robust support for stable grid operations [1]. Group 3: Economic and Social Impact - Upon commissioning, the project is expected to optimize the local energy structure, facilitate the absorption of renewable energy generation, and contribute to local fiscal revenue and employment [3].

证券代码：601669 股票简称：中国电建 公告编号：临 2025-034 中国电力建设股份有限公司 2025 年 1 月至 5 月主要经营情况公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 现将中国电力建设股份有限公司2025年1月至5月主要经营情况公布如下，供投 资者参阅。 一、按业务类型统计 | 业务类型 | 新签项目数量（个） | 新签合同金额 | 同比增减 | | --- | --- | --- | --- | | 能源电力 | 2408 | 3012.48 | 4.44% | | 水电 | 488 | 653.87 | 60.66% | | 其中：抽水蓄能 | 238 | 256.51 | 4.63% | | 风电 | 531 | 1018.01 | 67.33% | | 太阳能发电 | 482 | 854.81 | -32.61% | | 火电 | 224 | 146.99 | -62.28% | | 新型储能 | 65 | 107.50 | / | | 其他 | 618 | 231.30 | / | | ...

Investment Rating - The report suggests a "Focus" on the company, indicating potential investment interest due to its strategic position in the insulation materials market [3][4]. Core Viewpoints - The company, Guangxin Technology, is recognized as a national-level "Little Giant" in the field of insulation fiber materials, with a projected compound annual growth rate (CAGR) of 146% for net profit from 2021 to 2024 [14][24]. - The company plans to raise funds through an initial public offering (IPO) to invest in projects aimed at expanding its production capacity and enhancing research and development capabilities [11][12]. - The insulation materials market in China is expected to grow, with a projected market size of approximately 130.5 billion yuan in 2024, reflecting an 8.2% year-on-year increase [3][24]. Summary by Sections Initial Issuance - The company plans to issue 20 million shares at a price of 10 yuan per share, with an initial price-to-earnings (P/E) ratio of 7.61X [2][6]. - The total number of shares after issuance will be approximately 88.46 million, with the issuance accounting for 22.61% of the total shares before the exercise of the over-allotment option [2][6]. Business Overview - Guangxin Technology specializes in insulation fiber materials and related products, primarily used in various voltage level power transmission and transformation equipment [14][15]. - The company has developed a comprehensive product system that meets diverse customer needs in terms of thickness, shape, and electrical performance [15][19]. Financial Performance - In 2024, the company expects to achieve revenues of 578 million yuan, with a net profit of approximately 116.17 million yuan, reflecting year-on-year growth rates of 37.49% and 135.14%, respectively [7][24]. - The gross profit margin for insulation fiber materials is projected to reach over 30% in 2024, indicating improved profitability [15][25]. Market Dynamics - The domestic insulation materials market is experiencing steady growth, driven by increased demand in the power industry, with significant investments projected in power generation and grid infrastructure [3][24]. - The company has established a strong customer base, with major clients including TBEA Co., Ltd. and Shandong Taikai Transformer Co., Ltd., contributing to a stable revenue stream [32][34]. Competitive Position - Guangxin Technology has a competitive edge due to its proprietary technologies, having broken foreign monopolies in the ultra-high voltage insulation fiber materials sector [14][36]. - The company holds 67 valid patents, including 13 invention patents, underscoring its commitment to innovation and technological advancement [36].