撰写人：王福辉 从业资格证号：F03123381 投资咨询从业证书号：Z0019878 | | 撰写人：王福辉 从业资格证号：F03123381 投资咨询从业证书号：Z0019878 | | | | | | --- | --- | --- | --- | --- | --- | | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | | 沪铝主力合约收盘价(日,元/吨) 本月-下月合约价差:沪铝(日,元/吨) 主力合约持仓量:沪铝(日,手) | 20,010.00 75.00 184,164.00 | -65.00↓ 氧化铝期货主力合约收盘价(日,元/吨) -30.00↓ 本月-下月合约价差:氧化铝(日,元/吨) -5805.00↓ 主力合约持仓量:氧化铝(日,手) | 2,943.00 83.00 319,472.00 | -120.00↓ +58.00↑ +19574.00↑ | | 期货市场 | LME铝注销仓单(日,吨) | 46,025.00 | 0.00 库存:氧化铝:合计(周,万吨) | 184,673.00 | -35128.00↓ | | | LME电解铝三个月 ...

期货日报网讯6月5日，国务院新闻办公室举行新闻发布会，介绍"深化提升'获得电力'服务水平全面打 造现代化用电营商环境"有关情况，并答记者问。 国家能源局副局长宋宏坤在会上表示，近年来，中国可再生能源总体保持了高速度发展、高比例利用、 高质量消纳的良好态势，为保障电力供应、促进能源转型发挥了重要作用。截至今年4月底，我国可再 生能源发电装机达到了20.17亿千瓦，同比增长58%；风电光伏合计装机达到15.3亿千瓦，历史性超过了 火电装机。2024年中国可再生能源的新增装机3.73亿千瓦，约占电力新增总装机的86%；可再生能源新 增装机已经连续两年突破了3亿千瓦，在全球新增装机的占比超过了50%。 下一步，宋宏坤表示，国家能源局将以新型电力系统建设为主要抓手，指导各地能源主管部门、电力企 业、各派出能源监管机构继续推动落实有关要求，多措并举做好可再生能源高质量发展工作，全面推进 我国能源绿色低碳转型。 2024年，中国可再生能源发电量达到3.47万亿千瓦时，约占全部发电量的35%。从近年来的数据情况 看，我国风电、光伏发电总体保持了较高的消纳水平，个别年份有所波动，不同地区也存在一定的差 异。 为提升电力系统对新 ...

Core Insights - The ChiNext ETF (159915) has shown a 0.30% increase as of June 5, 2025, marking its third consecutive rise with a half-day trading volume of 750 million yuan [1] - Over the past year, the ChiNext ETF has experienced a significant growth in scale, increasing by 27.829 billion yuan, and in the last two weeks, its shares have grown by 12.1 million [1] - The fund has attracted a total of 10.2 million yuan in capital inflow over the last nine trading days [2] Market Context - The National Energy Administration has initiated pilot projects for the construction of a new power system, focusing on regions with favorable energy resources such as Qinghai, Xinjiang, and Heilongjiang [2] - The projects aim to enhance the green electricity supply for data centers by integrating energy resources and optimizing the layout of computing and power projects [2] - According to Shenwan Hongyuan Securities, the current market is less sensitive to macroeconomic changes, with limited space for policy easing and a focus on capital market development [2] Related Products - ChiNext ETF: 159915 - Link A: 110026 - Link C: 004744 - Link Y: 022907 [3]

截至2025年6月5日午间收盘，中证新能源汽车产业指数(930997)下跌0.25%。成分股方面涨跌互现，三花智控(002050)领涨2.29%，法拉电子(600563)上涨 1.77%，尚太科技(001301)上涨1.05%；赢合科技(300457)领跌1.86%，雅化集团(002497)下跌1.79%，盟固利(301487)下跌1.51%。新能车ETF(515700)下跌 0.31%，最新报价1.61元。拉长时间看，截至2025年6月4日，新能车ETF近1周累计上涨0.56%。 流动性方面，新能车ETF盘中换手0.58%，成交1292.39万元。拉长时间看，截至6月4日，新能车ETF近1年日均成交6720.09万元。 规模方面，新能车ETF最新规模达22.17亿元，位居可比基金1/2。 份额方面，新能车ETF近2周份额增长500.00万份，实现显著增长，新增份额位居可比基金1/2。 数据显示，杠杆资金持续布局中。新能车ETF最新融资买入额达215.41万元，最新融资余额达5100.02万元。 消息面上，日前，国家能源局关于组织开展新型电力系统建设第一批试点工作的通知发布，其中提到，在科学整合源荷储资源的基 ...

宏观日报 | 2025-06-05 关注绿色基建试点开展进程 中观事件总览 生产行业：关注绿色基建试点开展进程。 1）国家能源局组织开展新型电力系统建设第一批试点工作。重点在国 家枢纽节点和青海、新疆、黑龙江等能源资源条件好的非枢纽节点地区，在科学整合源荷储资源的基础上，统筹 地区存量及增量数据中心绿电需求和新能源资源条件，协同规划布局算力与电力项目。通过探索新能源就近供电、 聚合交易、就地消纳的"绿电聚合供应"模式，提高数据中心绿电占比。 服务行业：关注养老服务相关方案推进。 1）国际标准化组织近期正式发布由我国牵头制定的《老龄化社会老龄 化包容性数字经济通用要求与指南》国际标准，这也是首个人口老龄化视角下的数字经济国际标准。标准针对在 线购物、数字银行、数字医院、社交媒体等老年人参与数字经济的高频场景提出了具体建议。 数据来源：央视，iFind，华泰期货研究院 行业总览 上游：1）黑色：煤炭库存近期处三年高位。 中游：1）化工：PX开工率持续回升，尿素开工率持稳且处三年高位。2）基建：沥青开工率近期持续回升。3）农 业：生猪制品加工开工率上行 下游：1）地产：一、二线城市商品房销售季节性回升，但仍处近三年 ...

【环球网财经综合报道】近日，国家能源局发布《关于组织开展新型电力系统建设第一批试点工作的通知》（简称通知），标志着新型电力系统建设迈出关 键一步。《通知》提出，将围绕构网型技术、系统友好型新能源电站、智能微电网、算力与电力协同、虚拟电厂、大规模高比例新能源外送、新一代煤电等 七个方向开展试点工作。 在虚拟电厂领域，通知明确要围绕聚合分散电力资源、增强灵活调节能力等场景，因地制宜新建或改造不同类型的虚拟电厂。通过聚合分布式电源、可控负 荷、储能等资源并协同优化控制，充分发挥灵活调节能力。同时，持续丰富虚拟电厂商业模式，参与电力市场、需求响应，提供综合能源服务获取收益。 近年来，虚拟电厂相关政策陆续发布。2025年4月，国家发展改革委、国家能源局发布《关于加快推进虚拟电厂发展的指导意见》，提出到2027年全国虚拟 电厂调节能力达到2000万千瓦以上。今年以来，山东、湖南、陕西、贵州等地也纷纷发布相关政策推动行业发展。长江证券研报认为，随着政策频出和电力 交易市场化提速，未来虚拟电厂模式或逐步向市场型进阶。 在资本市场，虚拟电厂概念股备受关注。据统计，A股中虚拟电厂股共有66只，5月以来普遍上涨，平均涨幅达3.43 ...

消息上，国家能源局发布关于组织开展新型电力系统建设第一批试点工作的通知。通知提出，聚焦新型 电力系统有关前沿方向，依托典型项目开展单一方向试点，依托典型城市开展多方向综合试点，探索新 型电力系统建设新技术、新模式，推动新型电力系统建设取得突破。坚持重点突破，先期围绕构网型技 术、系统友好型新能源电站、智能微电网、算力与电力协同、虚拟电厂、大规模高比例新能源外送、新 一代煤电等七个方向开展试点工作。坚持因地制宜，结合各地实际，选择适宜的方向安排试点项目，合 理确定试点规模和范围。 通知要求，坚持创新引领，鼓励采用新技术、新模式，支持试点项目应用智能电网国家科技重大专项和 能源技术装备"补短板"成果，同步开展体制机制改革。坚持全程管理，做好试点项目的申报优选、组织 实施、效果评估、推广应用等全过程管理，保障实施效果，发挥带动作用。 国融证券指出，随着新能源更大规模发展，新型电力系统加快建设，国内特高压输电通道与智能配电网 协同推进，跨省跨区新能源消纳能力实现快速提升。抽水蓄能、新型储能等电力系统调节性资源同步建 设，将为新能源消纳提供核心支撑。同时中国作为电力设备制造大国，出口景气度较好。2025年1-4 月，电 ...

Group 1 - The core concept of the new power system is to upgrade the grid to accommodate large-scale integration of renewable energy sources, moving away from a coal-dominated system to a more intelligent and flexible one [3] - The first batch of pilot projects focuses on seven key areas, including grid-structure technology, system-friendly renewable power plants, smart microgrids, and virtual power plants, with virtual power plants being particularly noteworthy [3] - The A-share market has seen an average increase of 3.43% in virtual power plant-related stocks since May, with notable performers like Weide Information rising by 56% [3][4] Group 2 - 26 virtual power plant stocks have seen increased leverage funding, with Shanghai Electric, Guodian Nari, and Zhongheng Electric each receiving over 100 million in net financing since May [4] - Institutions are actively monitoring these stocks, with 24 institutions rating Xucheng Electric and 22 for Guoneng Rixin, indicating strong institutional interest [4] - Companies like Longxin Group and Ruijun Power are expected to potentially double their net profits by 2025, reflecting optimistic forecasts from institutions [4] Group 3 - The core logic of the pilot projects includes stabilizing renewable energy generation through grid-structure technology, which could benefit equipment manufacturers [4] - Virtual power plants rely on software and algorithms for resource scheduling, making companies involved in power information technology and energy management, such as Longxin Group and Ruijun Power, worthy of attention [4] - The concept of synergy between computing power and electricity involves using big data and AI for optimizing power dispatch, which may attract funding for companies that integrate both power and computing capabilities [4] Group 4 - Companies like Guodian Nari and Xucheng Electric are well-positioned due to their strong fundamentals and alignment with policy catalysts, making them suitable for long-term investment [5] - The new power system is seen as a necessary step towards achieving carbon neutrality goals, with significant investments expected in this sector, potentially exceeding one trillion by 2030 [5] - The pilot projects aim to address bottlenecks in integrating renewable energy into the grid, highlighting the importance of understanding each company's position within the industry chain [5]

Macro News - The National Energy Administration has initiated the first batch of pilot projects for the construction of a new power system, focusing on key hub nodes and regions with favorable energy resources such as Qinghai, Xinjiang, and Heilongjiang. The aim is to enhance the green electricity supply for data centers through a "green electricity aggregation supply" model [1] - The Director of the State-owned Assets Supervision and Administration Commission, Zhang Yuzhuo, has conducted research visits to eight central enterprises, signaling the direction for the next phase of state-owned enterprise reform and development. Key themes include enhancing product and service value, resource integration, and promoting high-end industrial development [1] - In the U.S., ADP employment numbers for May increased by 37,000, falling short of the expected increase of 110,000 and marking the lowest hiring pace since March 2023. This has prompted President Trump to call for interest rate cuts [1] Industry News - The Sichuan Provincial Health and Family Planning Commission has released a draft amendment to the Population and Family Planning Regulations, extending marriage leave from 5 days to 20 days, with an additional 5 days for those voluntarily undergoing pre-marital medical examinations. Maternity leave has also been extended to 90 days for the first child, 120 days for the second child, and 150 days for the third child [2][3] - A public notice has been issued regarding the proposed mandatory national standard project for "Safety Requirements for Intelligent Connected Vehicle Combination Driving Assistance Systems," initiated by the Ministry of Industry and Information Technology. The project, with a duration of 22 months, is set to be submitted by March 22, 2024 [2] Overseas News - U.S. stock indices closed mixed, with the Dow Jones Industrial Average falling by 91.9 points to 42,427.74, a decrease of 0.22%. The S&P 500 rose by 0.44 points to 5,970.81, while the Nasdaq Composite increased by 61.53 points to 19,460.49, a rise of 0.32%. Notable tech stocks showed varied performance, with Meta up over 3% and Tesla down over 3% [3] - OpenAI announced that its paid enterprise users have surpassed 3 million, a significant increase from 2 million reported in February. This includes customers of ChatGPT Enterprise, ChatGPT Team, and ChatGPT Education versions [3]

Market Overview - On June 4, 2025, A-shares opened higher with all three major indices rising, closing with the Shanghai Composite Index up 0.42% at 3,376.2 points, the Sci-Tech 50 Index up 0.45% at 986.11 points, the Shenzhen Component Index up 0.87% at 10,144.58 points, and the ChiNext Index up 1.11% at 2,024.93 points. The total trading volume in the Shanghai and Shenzhen markets was 11,530 billion yuan, an increase of 116 billion yuan from the previous trading day [1] - Hong Kong stocks continued to rise, with the Hang Seng Index up 0.6% or 141.54 points, closing at 23,654.03 points, with a total trading volume of 2,126.87 billion HKD. The Hang Seng China Enterprises Index rose 0.67% to 8,576.75 points, and the Hang Seng Tech Index increased by 0.57% to 5,219.02 points [1] - In the US market, the three major indices closed mixed, with the Dow Jones Index down 0.22% at 42,427.74 points, the S&P 500 Index up 0.01% at 5,970.81 points, and the Nasdaq Index up 0.32% at 19,460.49 points [1] New Stock Listings - Two new stocks were listed today: - Youyou Green Energy, with a stock code of 301590, issued at 89.6 yuan per share and a price-to-earnings ratio of 15.37 times. The company specializes in EV full-scene direct current fast charging solutions and core charging components [3] - Zhongce Rubber, with a stock code of 603049, issued at 46.5 yuan per share and a price-to-earnings ratio of 12.24 times. It is one of the largest tire manufacturers in terms of sales, focusing on the research, production, and sales of various tire products [3] Industry Developments - The Ministry of Industry and Information Technology (MIIT) held a meeting to discuss the promotion of artificial intelligence (AI) industry development and its empowerment of new industrialization. The meeting emphasized the need for systematic planning and collaboration to create a favorable ecosystem for AI development, enhance innovation, and improve the intelligence level of key products [4][5] - The National Energy Administration is conducting pilot projects for new power system construction, focusing on integrating data center green electricity demand with renewable energy resources. This initiative aims to improve energy efficiency and explore new supply models for green electricity [6][9] - The Hong Kong Securities and Futures Commission is considering introducing virtual asset derivatives trading for professional investors, aiming to enhance market product options while ensuring orderly and transparent trading [7] - A new national standard project for "Intelligent Connected Vehicles - Safety Requirements for Combined Driving Assistance Systems" has been proposed, with a project cycle of 22 months, indicating a focus on enhancing safety standards in the automotive industry [8]