面对建设环境恶劣、线路走廊拥挤、交叉跨越多的挑战，国家电网数万名工程建设者迎难而上，历时22 个月，从天山脚下到长江之滨，从黄沙大漠到巴山渝水，在祖国的版图上，镌刻出一条绵延千里、纵贯 南北的"能源大动脉"。 新疆是我国西电东送的重要送端。哈密-重庆工程投产送电，每年可将360亿千瓦时以上的电量从新疆源 源不断地输送到重庆负荷中心，显著增强重庆能源电力保障能力，有效促进新疆打造全国重要的新能源 基地和资源优势转化，对于疆渝两地经济增长和区域协调发展，以及服务西部大开发、助力乡村振兴、 增进人民福祉具有重要作用。 哈密-重庆工程采用最新的"双八百"特高压直流标准化技术成果，积极应对气候严寒、盐渍土、戈壁碎 石土区域分布广等挑战，建设团队新设计了大风区跳线串和多自由度的调距线夹，在强腐蚀地区试点应 用硅烷浸渍防腐技术。各项新技术新工艺的应用，提高了施工效率、破解了施工难题，打造了特高压建 设的新标杆，为后续特高压工程建设提供了借鉴。 目前，国家电网已形成全球最大规模的特高压输电网络，为保障电力安全可靠供应、促进绿色低碳发展 提供了坚强支撑。 新华社北京6月10日电（记者戴小河、杜刚）国家电网10日宣布，哈密-重庆 ...

Fundraising Plan - The company plans to raise a total of up to RMB 5.825 billion through a private placement of A shares, with the net proceeds allocated to various projects totaling approximately RMB 78.4 billion [1][2] - If the actual net proceeds are less than the planned investment amount, the company will adjust the funding priorities and amounts based on project progress and funding needs, with any shortfall covered by self-raised funds [2] Background and Purpose of the Issuance - Hydropower is increasingly important under the national "dual carbon" strategy due to its low cost, renewability, and strong peak regulation capabilities, contributing to economic development and green transformation [2][3] - The projects funded by this issuance are located in Southwest China, which has abundant hydropower resources, accounting for about 70% of the country's total, and are essential for the "West-to-East Power Transmission" strategy [3][4] Feasibility Analysis of Fundraising Projects - The RM Hydropower Station, with a designed capacity of 2.6 million kW and a total investment of approximately RMB 58.4 billion, is a key project that aligns with national energy development strategies and will provide stable, clean energy [5][6] - The TB Hydropower Station, with a designed capacity of 1.4 million kW and a total investment of approximately RMB 20 billion, is crucial for supporting the economic development of Yunnan Province and alleviating energy supply tensions in rapidly developing areas [7][9] Impact on Company Operations and Financial Status - The fundraising projects align with national policies and industry trends, enhancing the company's competitive advantage and market position, with significant economic benefits expected from the completed projects [11][12] - The issuance will strengthen the company's capital structure, increase total assets and net assets, and improve financial stability, although short-term returns may decline until the projects are operational [12][13] Conclusion of Feasibility Analysis - The board of directors believes that the fundraising plan is necessary, aligns with relevant policies, and has a promising market outlook, contributing to the company's long-term sustainable development and enhancing core competitiveness [13]

Core Points - The world's highest UHVDC project, the Jinsha River upstream to Hubei ±800 kV UHVDC transmission project, has achieved full line connectivity, marking a significant milestone in China's "West-to-East Power Transmission" initiative [2][3] - The project spans 1,901 kilometers across four provinces (Sichuan, Chongqing, Tibet, and Hubei) and is designed to transport 40 billion kilowatt-hours of electricity annually, integrating hydropower and new energy sources [2] - The Sichuan section of the project is 976.4 kilometers long, with the most challenging construction occurring in the western Sichuan region, characterized by steep terrain and high altitudes [2][3] Project Details - The highest tower in the project reaches an altitude of nearly 4,800 meters, making it the highest UHV tower in the world [2] - Over 300 construction cableways have been established to enhance transportation efficiency in the mountainous areas during the construction phase [3] - The project is currently in the final stages, with the State Grid Sichuan Electric Power accelerating the debugging and testing of converter stations and lines to ensure timely operation [3]

Group 1 - The "Jin Electric Down Jiangnan" transmission channels have cumulatively delivered over 602.8 billion kilowatt-hours of electricity to the Yangtze River Delta region, equivalent to the electricity consumption of over 45 million households in Jiangsu for five years [1] - The first "Jin Electric Down Jiangnan" transmission line, established in 1997, has significantly contributed to Jiangsu's electricity supply, delivering over 10 billion kilowatt-hours annually, accounting for 13% of Jiangsu's total electricity consumption at that time [3] - The ±800 kV Yanmenguan to Huai'an UHVDC project, completed in 2017, added a transmission capacity of 8 million kilowatts, enhancing the efficiency of electricity transmission from Shanxi to Jiangsu and the East China region [3] Group 2 - Shanxi has been actively developing wind and solar power, with the installed capacity of renewable energy reaching 61.895 million kilowatts by the end of 2024, making up 50% of the province's total power generation capacity [4] - In 2024, the Yanhua DC transmission project is expected to deliver 52.63 billion kilowatt-hours of electricity, with approximately 30% coming from renewable energy sources, providing continuous green energy to Jiangsu [6] - Jiangsu has built five UHV transmission lines, with annual electricity imports from outside the province reaching 160 billion kilowatt-hours, accounting for 18% of the province's total electricity consumption [6] Group 3 - Jiangsu is accelerating the implementation of the Mengdong to Jiangsu DC project, aiming to increase external electricity receiving capacity from 45 million kilowatts to over 50 million kilowatts, thereby enhancing the province's electricity supply capability [6]

金沙江上游巴塘水电站首台机组并网发电 金十数据5月15日讯，位于金沙江上游的国家"十四五"规划重大工程，华电金上巴塘水电站首台机组经 过72小时试运行后，正式并网发电。巴塘水电站位于四川省和西藏自治区交界的金沙江干流，是"西电 东送"接续基地——金沙江上游清洁能源基地的重要支撑项目。电站总装机容量75万千瓦，年平均发电 量33.75亿千瓦时，可供应175万个家庭一年的用电量。 （央视新闻） ...

中信证券股份有限公司 关于 华能澜沧江水电股份有限公司 之 发行保荐书 保荐人（主承销商） 广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座 二零二五年五月 声 明 中信证券股份有限公司（以下简称"中信证券"、"保荐人"）接受华能澜沧江水电 股份有限公司（以下简称"华能水电"、"发行人"或"公司"）的委托，担任其向特定 对象发行 A 股股票的保荐人。 中信证券股份有限公司及保荐代表人根据《中华人民共和国公司法》 （以下简称"《公 司法》 "）、 《中华人民共和国证券法》 （以下简称"《证券法》"）、 《上市公司证券发行注册 管理办法》 （以下简称"《注册管理办法》"）等有关法律、法规和中国证券监督管理委员 会（以下简称"中国证监会"）、上海证券交易所（以下简称"上交所"）的有关规定， 诚实守信，勤勉尽责，严格按照依法制订的业务规则、行业执业规范和道德准则出具发 行保荐书，并保证所出具文件的真实性、准确性和完整性。若因保荐人为发行人本次发 行制作、出具的文件有虚假记载、误导性陈述或者重大遗漏，给投资者造成损失的，保 荐人将依法赔偿投资者损失。 在本发行保荐书中，除上下文另有所指，释义与《华能澜沧江水电 ...

Core Viewpoint - The Yebatan Hydropower Station, located in the upper reaches of the Jinsha River, has successfully extracted a concrete core sample measuring 38.10 meters, setting a record for similar dam types in China [1][2]. Group 1: Project Overview - The Yebatan Hydropower Station has a total installed capacity of 2.24 million kilowatts and is being developed by China Huadian Corporation [2]. - The dam has a maximum height of 217 meters, making it the highest hyperbolic arch dam under construction in China [2]. - The project is part of the national "14th Five-Year Plan" and serves as a significant project for the "West-East Power Transmission" initiative [6]. Group 2: Construction and Quality Control - The core sample extraction was part of a random sampling process during the dam's construction, spanning 13 pouring units and 12 horizontal construction seams [2]. - The extracted core sample was found to be complete, smooth, and dense, indicating excellent inter-layer bonding and uniform aggregate distribution [2][4]. - Advanced technologies such as intelligent pouring, temperature control, and quality control techniques were employed to mitigate the risk of cracking due to significant temperature fluctuations at the site [4]. Group 3: Environmental Impact and Energy Production - Once fully operational, the Yebatan Hydropower Station is expected to generate an average annual electricity output of 10.205 billion kilowatt-hours [6]. - The project is projected to save 3.99 million tons of standard coal annually and reduce carbon dioxide emissions by 7.37 million tons [6].

Core Insights - The completion and commissioning of the Longdong-Shandong ±800 kV UHVDC project marks China's first large-scale integrated energy base for wind, solar, and thermal power, facilitating cross-regional energy resource optimization and addressing energy shortages in North China while leveraging abundant resources in the West [1][4] Group 1: Project Overview - The Longdong-Shandong project has a total investment of 20.2 billion yuan and spans 915 kilometers, utilizing ±800 kV rated voltage and 8 million kW rated capacity, making it the first UHVDC project to be fully commissioned at once [4] - The project is expected to deliver 36 billion kWh of electricity annually to Shandong, equivalent to the annual electricity consumption of 10 million households, while reducing carbon dioxide emissions by approximately 16 million tons and replacing 6 million tons of coal [2][4] Group 2: Technological Advancements - The project incorporates domestically developed key technologies, including a transformer with load tap changer and DC control protection based on domestic chips, enhancing the resilience and control of China's high-end power transmission and transformation equipment supply chain [7] - The successful implementation of the project has established a new benchmark for UHV construction, marking a transition to standardized and large-scale development in the sector [7] Group 3: Strategic Importance - The project supports the construction of the "Shagouhuan" new energy base and the large-scale development of renewable energy, contributing to the high-quality development of Gansu and Shandong provinces and promoting regional coordinated development [1][4] - It plays a crucial role in enhancing the electricity supply capacity to Shandong, increasing it to 38 million kW, thereby ensuring safe and green energy use during peak summer demand [2][4]

Core Viewpoint - The article highlights the dedication and contributions of He Jianguo, a deputy manager at the State Grid Qincheng Power Supply Company, emphasizing his commitment to restoring power during emergencies and improving the electrical infrastructure in the revolutionary old areas of China [1][12]. Group 1: Emergency Response and Achievements - In August 2010, during a major flood disaster in Huachi County, He Jianguo led emergency repairs, restoring power to six towns within 72 hours [2]. - In February 2021, He Jianguo coordinated a team to restore power after severe snow and ice storms caused significant damage, achieving power restoration in Huachi County after 63 hours of continuous effort [4]. - He Jianguo's motto, "I can't sleep if the circuit is down," reflects his commitment to immediate action during emergencies [5]. Group 2: Teamwork and Community Service - He Jianguo emphasizes that his achievements are a result of teamwork, stating, "This is not my individual achievement, but the result of the entire team's efforts" [9]. - He has actively engaged with the community, providing assistance beyond electrical services, such as helping elderly residents with daily needs [12][13]. - His leadership in the "配农网工程示范县" project resulted in the construction and renovation of 311.6 kilometers of 10 kV lines and the establishment of 363 standardized distribution transformer stations [9]. Group 3: Innovation and Technological Advancement - He Jianguo established the "He Jianguo Labor Model Innovation Studio," focusing on technological innovations that support high-quality development in the power grid [16]. - The company has invested 130.43 billion in the power grid, enhancing the integration of digital and intelligent technologies [17]. - New platforms and AI applications have been implemented to improve operational efficiency and service quality in the power supply sector [17].

可持续发展问题及解决路径 通道走廊作为保障"西电东送"南通道可持续发展的关键载体，亟须厘清南方区域外部接续通道规划布 局，缓解总电量缺口问题。西部地区高耗能产业发展带动电力需求快速增长，叠加风光等新能源出力保 障低等特性，南方区域实现电力系统电力电量实时平衡难度上升，考虑在更大范围内（如国内西藏、四 川、新疆、内蒙古等地区及国外澜湄地区）进行电力资源优化配置，新建南通道接续工程迫在眉睫。但 目前待建工程建设时序性不稳定，对供受端区域供需矛盾的传导路径不明确，且外送落点争执不断，地 方博弈加剧。 近年来，南方电网有限责任公司持续深化与国家电网、地方政府建立多层次合作渠道，与各方建立战略 合作框架，联手探索跨域电力资源协同配置机制。综合研判待建通道建设周期，收集待建通道沿线所在 省份网架承载力情况，及早预判不同外送线路走向对沿线各地区的影响程度，提前做好解决预案，推动 政府进行统筹协调，做好重点工程投产准备工作。 调控运行作为保障"西电东送"可持续发展的基础手段，"西电东送"通道功能亟须由单一线性往多元互济 转变，缓解"不同时序电力电量缺口"问题。现有单一输电模式相对刚性，供端专注电源建设和电网运 行，受端聚焦用 ...