器色盒属数据日报 | 2025/07/01 | | 国贸期货出品 ITG 国贸期货 | | --- | --- | --- | | 投资咨询业务资格:证监许可[2012] 31号 | | | | 黑色金属研究中心 | 执业证号 | 投资咨询证号 | | 张宇慧 | F0286636 | Z0010820 | | 黄志鸿 | F3051824 | Z0015761 | | 节子勖 | F03094002 | Z0020036 | | | 远月合约收盘价 (元/吨) | RB2601 | HC2601 | 12601 | J2601 | JM2601 | | --- | --- | --- | --- | --- | --- | --- | | | 6月30日 | 3015.00 | 3128.00 | 690. 00 | 1442.50 | 861.00 | | | 涨跌值 | 18. 00 | 7.00 | 2. 00 | -8. 50 | -14.00 | | | 涨跌幅(%) | 0.60 7 | 0.22 | 0. 29 | -0. 59 | -1.60 - | | | 近月合约收盘价 | RB2510 ...

刻踪 | 信号承诺 山东市场豆粕供需情况调研 调研报告 企业1 肉鸡产业链利润分析：鸡苗价格下跌较快。 6月底大型企业鸡苗价格已跌至2元r羽以下（5月底约为3元/羽左右）。 孵化环节仍有微利. 屠宰环节出现小幅亏损。目前肉鸡食品深加工环节利润最高，但销量不佳。冻品销售不佳，库存压力大。山东地区冻品库存高企,外租仓 库已满（正常周转周期为7–20天）。饲料成本方面,玉米价格上涨,豆粕价格下跌。817肉鸡养殖利润不佳。 油厂动态与开机率展望:个别油厂出现账库现象,并开始催促客户提货。预计山东地区油厂开机率到7月中旬或7月底将处于较高水平。 豆粕用量驱动因素与展望：目前豆粕日度用量环比增加，主要源于配方调整而非饲料销量增长。预计7月豆粕日用量与6月相比保持平 稳。8月和9月若配方维持不变，用量预计将继续环比增加，增量主要来自饲料销量的增长。 豆粕添加比例现状、维持条件与替代影响: 目前豆粕添加比例为: 鸭料68、肉鸡料30%。猪料8-10%（该比例于5月中下旬上调）。短期 内若无杂箱替代，预计该高添加比例将维持至9-10月份。若使用小麦替代玉米，对豆粕需求量的影响有限，预计仅减少约18的用量。目 前企业基本避免使用 ...

打造科技创新平台，支撑建材行业绿色低碳发展。自去年起，建材行业通过在"揭榜挂帅"、科技资源支 持、打造高水平科技成果、产学研用交流、新材料推广应用等方面聚力，绿色低碳科技创新能力全面提 升。但不少企业反映，行业科技创新平台数量不足，功能相对较弱。科技创新平台可促进科研基础设 施、人才、资源储备及研发项目等方面创新资源的共享与优化，推动最先进、最前沿的创新成果规模化 应用，着力解决建材行业创新成果转化过程中存在的"难点""堵点"。未来建材企业要继续发力，力争实 现建材行业科技研发体系与产业和市场深度融合。 在山东济宁落地的全球首个水泥行业零外购电示范工厂，近日引起外界广泛关注。该工厂通过实施一系 列节能技改和多能互补，绿色新能源发电超1.6亿千瓦时，实现新能源的高效稳定利用，成为我国建材 行业"六零"工厂的标杆。 近年来，建材行业"六零"工厂概念逐渐被外界熟知。与国际上普遍聚焦"近零排放"或"净零产品"等单一 目标的发展路径不同，建材行业"六零"工厂概念提出"零外购电、零化石能源、零一次资源、零碳排 放、零废弃物排放、零员工"系列指标，目的是为了更好地引领建材企业绿色低碳转型发展。 在绿色发展理念引领下，当前参 ...

Core Viewpoint - CATL has officially launched its advanced CTP 2.0 battery production lines at the Seres Super Factory, marking a significant milestone in its collaboration with Seres and the beginning of localized production in Chongqing [2][3]. Group 1: Production and Collaboration - The newly launched production line is described as CATL's most advanced intelligent and digitalized line, which will enhance production and delivery speed for Seres vehicles, thereby shortening the vehicle delivery cycle for users [3]. - The "factory within a factory" model adopted by the Seres Super Factory aims to integrate and cluster the supply chain, with Seres acting as the chain leader [2][3]. - CATL is committed to assisting Seres in building a complete "green automotive value chain" and enhancing its global brand image as a zero-carbon technology company [3]. Group 2: Financing and Financial Performance - Seres has completed a strategic financing round of 5 billion RMB, with notable investors including subsidiaries of three major state-owned banks and well-known private equity funds [4]. - The financing is expected to strengthen Seres' capital position, support strategic development, and reduce its debt-to-asset ratio, which currently stands at 76.83%, down from 87.38% at the end of 2024 [4][5]. - In Q1, Seres reported a net profit of 748 million RMB, a 240% year-on-year increase, despite a temporary decline in sales due to seasonal factors [4][5]. Group 3: Sales and Market Performance - Sales for Seres saw a decline in Q1 due to the Spring Festival and a product gap, but began to recover in Q2 with the launch of new models, reaching over 36,000 units sold in May, a 33% month-on-month increase [5]. - The company's stock performance has remained stable, with a market capitalization consistently above 210 billion RMB, closing at 219.4 billion RMB on June 30 [5].

Core Viewpoint - Leshan Electric Power has made significant advancements in its business operations, particularly in virtual power plants, energy storage, and solar energy projects, indicating a strong commitment to transforming its energy services and enhancing market competitiveness [1][2][3]. Group 1: Virtual Power Plant Developments - Leshan Electric Power has officially connected its virtual power plant to the new load management system of the Sichuan Provincial Power Load Management Center, marking a key milestone in its operational capabilities [1]. - The virtual power plant project has integrated various entities, including industrial and commercial users, energy storage stations, and charging piles, achieving a total capacity of 216.61 MW with a load adjustment capability of 20 MW [1]. Group 2: Energy Storage Projects - Leshan Electric Power's subsidiary, LeDian New Energy, has successfully won a bid for a 100 MW/200 MWh independent energy storage project, marking a breakthrough in external grid-side energy storage operations [2]. - The total operational capacity of LeDian New Energy's grid-side energy storage now stands at 200 MW, making it the largest in Sichuan Province [2]. Group 3: Solar Energy Initiatives - The company has completed the construction of its first "solar-charging integrated" demonstration project at a parking lot for Sichuan Electric Vehicle Co., which is designed to maximize green energy output [2]. - This solar project is expected to generate enough electricity to meet the charging needs of approximately 800 electric vehicles annually, reducing carbon dioxide emissions by nearly 130 tons each year [2]. Group 4: Strategic Development Plans - Leshan Electric Power has outlined a "33221" development strategy for 2024, focusing on new energy, new industries, and new platforms to strengthen and expand its operations [3]. - The company is actively pursuing transformation by expanding into new energy storage, virtual power plants, and innovative service sectors, with early investments beginning to yield positive results [3]. Group 5: Market Recognition and Financial Performance - The company's transformation strategy has gained recognition in the capital market, successfully raising nearly 200 million yuan through a private placement earlier this year [4]. - Since April, Leshan Electric Power's stock price has increased by 109.64%, with a maximum cumulative increase of 183.91% during this period [5]. Group 6: Future Outlook - In 2025, Leshan Electric Power plans to deepen its transformation efforts by enhancing energy storage collaboration across various sectors and accelerating project development throughout Sichuan Province [6]. - The company aims to strengthen its design, construction, and operation and maintenance supply chain in the energy sector [6].

Group 1 - The core viewpoint is that the upward trend of the stock index is not yet over, with recent geopolitical issues causing only a slight pullback in mid-June, followed by a notable increase in A-shares as geopolitical tensions eased [3] - As of June 27, 2025, the best-performing sectors include banking and telecommunications, while food and beverage and coal industries show weaker performance [3] - The market's observation sentiment has improved with the index rebound, as evidenced by the annualized basis of IM stock index futures decreasing from a previous high of 17% to around 11% [3] Group 2 - The report recommends investing in dividend-paying construction state-owned enterprises at valuation bottoms, driven by market capitalization management and state-owned enterprise reform policies [7] - The report highlights the growth of China's foreign contracting business, with a revenue of 445.08 billion RMB from January to May 2025, marking a 6.6% year-on-year increase, and a new contract amount of 709.08 billion RMB, up 14.4% [8] - The report suggests investing in companies within the new productivity construction industry chain, which combines dividends and growth potential, particularly in areas like low-altitude economy and AI [8]

证券研究报告 东方电子 (000682 CH) 电力自动化先锋，虚拟电厂空间广阔 2025 年 6 月 30 日│中国内地 电气设备 首次覆盖东方电子并给予"买入"评级，目标价 12.6 元，对应 2025 年 20XPE。 公司为国内电力自动化先锋，持续内生外延，穿越行业周期，2008-2024 年 营收 CAGR 达 14.4%。基本盘业务（配用电、调度、输变电自动化）伴随 国内电网投资稳增长，同时出海带来更高增速，我们预计 2025-2027 年收 入增速在 12%~20%；此外，公司持续培育新增长极，虚拟电厂空间广阔， 新能源有望保持快增。 基本盘稳健向好，拓品类、扩市场带来更高增速 智能配用电、调度及云化、输变电自动化为公司的基本盘，合计营收占比在 8~9 成，伴随国内电网整体投资稳步增长，同时依靠产品品类拓展和加速开 拓海外业务带来更高增速，我们预计 2025-2027 年业务收入增速处在 12%~20%。公司在多个子板块位处领军地位，国内电表方面，行业正值替 换周期，新标准或带来量稳价升，公司市占率稳居前列，2024 年排名第四； 调度方面，公司承建南网总调云端系统建设，市场地位与技术壁垒较高； ...

以下文章来源于国投期货研究院 ，作者吴小明 国投期货研究院 . 国投期货研究院团队倾力打造，专注热门期货品种分析。 文 | 吴小明 来源 | 国投期货研究院 编辑 | 杨兰 审核 | 浦电路交易员 企业1 肉鸡产业链利润分析：鸡苗价格下跌较快。6月底大型企业鸡苗价格已跌至2元/羽以下（5月底约为3元/羽左右）。孵化环节仍有微 利。屠宰环节出现小幅亏损。目前肉鸡食品深加工环节利润最高，但销量不佳。冻品销售不佳，库存压力大。山东地区冻品库存高 企，外租仓库已满（正常周转周期为7-20天）。饲料成本方面，玉米价格上涨，豆粕价格下跌。817肉鸡养殖利润不佳。 油厂动态与开机率展望：个别油厂出现胀库现象，并开始催促客户提货。预计山东地区油厂开机率到7月中旬或7月底将处于较高水 平。 豆粕用量驱动因素与展望：目前豆粕日度用量环比增加，主要源于配方调整而非饲料销量增长。预计7月豆粕日用量与6月相比保持 平稳。8月和9月若配方维持不变，用量预计将继续环比增加，增量主要来自饲料销量的增长。 豆粕添加比例现状、维持条件与替代影响：目前豆粕添加比例为：鸭料6%、肉鸡料30%、猪料8-10%（该比例于5月中下旬上 调）。短期内若无杂 ...

以下文章来源于三联生活实验室 ，作者tweety 三联生活实验室 . Never Bored 城市Cool Guy生活样本 本文来自微信公众号： 三联生活实验室 ，作者：tweety，题图来自：AI生成 近年来的相亲市场，已经让年轻人栽了不少跟头。 图源：哞哞 工作踏实，踏实到只要工作，没空陪你聊天，"和大厂人谈恋爱，还不如培养ChatGPT来提供情绪价 值。" 去相亲，开条件像看简历，然而title已然不能轻信。金融精英本受热捧，谁成想，不少人锱铢必较让 人难受；主理人听着风光，却逐渐沦为无业游民的代称；期待和文青约会谈谈爱情，可一旦你没听懂 ta的诗，就可能被转手写进清冷的破碎文学公之于众。 找对象好难，最后独留破碎的你，头痛的爱，形影相吊。 后来，你听别人说，还有个板块没探索，那就是 虽在前景上缺乏稳定，但收入里上乘，风光里算踏 实，踏实里算洋气的：大厂人。 "在职场上，他们习惯给待办事项列出优先级，做事有条理；情场中，也不玩欲擒故纵，只爱正向沟 通，吵架时快速找准原因，从源头上就解决了问题。" 可还没等你出手，又听说大厂人"贬值"了。 "在职场卷海中，大厂人是当之无愧的模范生；在情场里，他们把对象当对 ...

文 | 星星充电 今 日 ， 星 星 充 电 在 全 面 AI 化 、 连 接 效 率 化 的 时 代 背 景 下 ， 正 式 发 布 了 最 新 科 技 成 果 ——"三网融合平台"及"太乙交易系统"，此次全球发布，聚焦"多元场景，融合盈利"， 清晰诠释了如何以"更融合、更效能、更开放"的理念，构建更具生命力和智慧化的能源 生态未来。未来，每个"参与者"都将成为能源价值的创造者。其中，"三网融合平台"是 能源互联世界的坚实底座与核心枢纽，"太乙交易系统"则是赋能虚拟电厂网智能化交易 的"超级引擎"。 * 星 星充电太 乙 交 易 系 统 星星充电"三网融合平台"及"太乙交易系统"发布会精彩现场 01 全 场景融·合平台 优化调度能源 星星充电布局智能充电网、场景微电网、虚拟电厂网的三网战略，在2 0 1 4年成立后涉足 充电行业，业务范围包括充电桩的研发、生产制造、销售、资产运营和线上运营。之后 切入到分布式储能的场景微电网，布局云边端的业务模式。在拥有和合作了较多能源资 产后，顺势进入虚拟电厂领域，支持了包括需求响应、辅助服务、电力交易等能力。 星星充电的业务板块从最开始的充电，在业务战略的指引下，逐步进 ...