Core Viewpoint - Tongli Risheng (605286) announced the transfer of a 4.13% stake in its subsidiary Tianqi Hongyuan New Energy Technology Co., Ltd. to Yicun Zerui for 105 million yuan, while the company waived its right of first refusal, which will not affect its ownership percentage or financial status [1] Group 1: Company Structure and Ownership - Before the transaction, Tongli Risheng held a 51% stake in Tianqi Hongyuan, while Jiusheng Xihua held 47% and Beijing Hehui Chuangying held 2% [1] - After the transaction, Tongli Risheng will still hold 51%, while Jiusheng Xihua's stake will decrease to 42.87%, and Yicun Zerui will hold 4.13% [1] Group 2: Business Operations and Developments - Tianqi Hongyuan focuses on core technology research in the energy storage and microgrid sectors, developing a complete technology system from cell-level optimization to system integration [2] - The company signed a strategic cooperation agreement with Shell China to work on fully immersed liquid cooling technology, enhancing the safety and lifespan of energy storage systems [2] - Tianqi Hongyuan is actively involved in a 920MWh shared energy storage project in Chengde, utilizing semi-solid state battery systems to improve performance and safety [2] Group 3: Strategic Initiatives and Collaborations - The company is engaging in the "computing power and electricity synergy" trend, participating in the construction of national computing power center nodes [3] - A strategic agreement was signed with the government of Qingyang to establish a 2GWh energy storage equipment production line and a 1GWh lithium iron phosphate energy storage station [3] - Collaboration with Gansu Mobile aims to develop renewable energy projects for communication infrastructure, leveraging local resources and digital capabilities [3]

本报讯 （记者陈红）9月17日晚间，江苏同力日升机械股份有限公司（以下简称"同力日升"）发布公告，公司控股子公司 北京天启鸿源新能源科技有限公司（以下简称"天启鸿源"）的股东玖盛熙华（河北）科技合伙企业（有限合伙）（以下简 称"玖盛熙华"），拟将其持有的天启鸿源4.13%股权（对应注册资本558.25万元）以1.05亿元的价格转让给杭州一村泽睿股权投 资合伙企业（有限合伙）（以下简称"一村泽睿"），公司放弃本次天启鸿源股权转让的优先购买权。一村泽睿的实际控制人为 无锡市人民政府国有资产监督管理委员会（以下简称"无锡国资"）。 公告显示，本次交易前，同力日升持有天启鸿源51%股权，北京合汇创赢投资合伙企业（有限合伙）（以下简称"创赢投 资"）持有天启鸿源2%股权，玖盛熙华持有天启鸿源47%股权；本次交易完成后，同力日升持有天启鸿源51%股权，创赢投资 持有天启鸿源2%股权，玖盛熙华持有天启鸿源42.87%股权，一村泽睿持有天启鸿源4.13%股权；本次放弃优先购买权，不会导 致公司合并报表范围发生变化。 据悉，同力日升于2022年取得天启鸿源控股权从而进入新能源领域。天启鸿源专注于储能与微电网行业核心技术研发，形 ...

21世纪经济报道记者雷椰 李德尚玉 实习生王怡茵 北京报道 碳中和周报关注"双碳"领域的最新前沿动态，包括碳中和政策、地方动态、企业实践等。我们将通过精 选每周碳中和领域的重大事件，并进行点评的方式，提供一个及时全面的碳中和信息平台。 1、新能源就近消纳补齐价格机制发布 9月12日，国家发展改革委、国家能源局对外发布《关于完善价格机制促进新能源发电就近消纳的通 知》（下文简称《通知》）。包括绿电直连、零碳园区、源网荷储一体化等新能源发电就近消纳模式， 是促进新能源开发利用、满足企业绿色用能的重要途径。这些热门的新模式虽然声名在外，但是实际发 展进度偏慢，主要原因在于其项目边界和保供责任不清，相应的经济责任不明确。《通知》的出台，致 力于补齐这些安排，尤其是明确价格机制，界定权利义务边界。 到2030年，能源领域人工智能专用技术与应用总体达到世界领先水平。算力电力协同机制进一步完善， 建立绿色、经济、安全、高效的算力用能模式。《实施意见》具体提出"构建算力、电力深度融合的算 电协同发展机制，不断提高算力中心绿电比例""针对人工智能计算耗能问题，加快突破人工智能绿色低 碳技术瓶颈"，为算力规模化、高质量发展提供了 ...

通过此次交易，秦淮数据与东阳光集团在绿色低碳领域形成的资源互补与战略协同，将驱动"算电协 同"新模式的构建，为行业可持续发展定义新范式，确立新基准。秦淮数据的冷却技术与东阳光集团在 液冷材料、精密制造等领域的积淀相结合，将显著提升算力基础设施的能效水平。"随着双方整合的深 入推进，依托各自上下游优势资源，双方也将有机会向以自动标识与数据采集（AIDC）为核心的AI全 产业链拓展业务，释放更多元的协同价值。"秦淮数据CEO吴华鹏对《证券日报》记者表示。 "这一交易行为标志着数据中心行业进入资本整合深化期。未来并购逻辑将转向'区位价值+客户黏性+能 效水平'综合评估，这也预示着中小厂商生存空间压缩，行业集中度加速提升，资本与技术双轮驱动特 征愈发显著。"中国电子商务专家服务中心副主任郭涛对《证券日报》记者说。 行业最大规模并购交易 "这是中国数据中心行业迄今为止规模最大的并购交易。"秦淮数据工作人员对《证券日报》记者 说，"这一交易能够为公司注入产业端的稀缺资源，让公司在AI革命与能源革命深度融合的关键阶段获 得强劲的发展新动能。"本次收购也是东阳光集团主动融入国家"东数西算"战略布局、服务构建全国一 体化算力网 ...

Group 1 - The core point of the article is that Dongyangguang plans to invest 7.5 billion yuan in a complex transaction structure to acquire Qinhuai Data for a total price of 28 billion yuan, marking a record in China's IDC industry mergers and acquisitions [1][2] - This acquisition signifies a major move by a traditional manufacturing giant into the digital infrastructure sector, particularly in the context of the booming AI industry and the government's push for computing power development [1][2] - Dongyangguang aims to leverage its clean energy reserves and industrial layout to provide low-cost green electricity for data center operations, enhancing its competitive edge in the market [1][2] Group 2 - The transaction involves multiple entities, including Dongyangguang, which will contribute 3.5 billion yuan, and its parent company Shenzhen Dongyangguang, which will invest 4 billion yuan [2][3] - The acquisition structure is designed to efficiently raise funds, isolate risks, and provide flexibility for future capital operations, indicating a strategic approach to the investment [3][4] - The financial data of Qinhuai Data's Chinese operations reveals a complex business structure with eight entities and four sellers, highlighting the intricacies of the acquisition [4]

Core Viewpoint - The integration of computing power and electricity, referred to as "computing-electricity synergy," is essential for achieving a green digital future, driven by advancements in digital technology, national policy improvements, and the establishment of technical standards [1][5]. Group 1: Challenges in Computing-Electricity Synergy - High reliability in electricity supply is required for intelligent computing centers, but the instability of renewable energy sources like wind, solar, and hydro necessitates large-scale energy storage solutions, which currently have high initial investment and operational costs, leading to long payback periods [2]. - There are trading barriers for green electricity, with high demand in eastern regions but limited local green resources, while western regions have abundant resources but face restrictions in cross-province transmission and trading [2]. - The adjustment of computing power load requires a unified national scheduling platform that ensures security and controllability, along with effective price incentive mechanisms, which are currently lacking [2]. Group 2: Company Initiatives and Projects - The company is developing the "Tianyuan" computing power scheduling platform, focusing on hub nodes and provincial-level points to create a cross-regional and cross-entity computing resource scheduling system [3]. - The company has implemented several projects in zero-carbon parks, including an integrated management platform for power generation, consumption, storage, and charging resources, significantly enhancing economic and green performance [3]. - The company has assisted a large cement manufacturer in creating a factory with zero external electricity purchases, managing large-scale wind, solar, and storage assets for a green transition [3]. Group 3: Future Outlook - The company believes that as the computing power application market matures, along with continuous improvements in national policies and technical standards, the current challenges can be resolved, paving the way for a deeper integration of computing power and electricity [5].

"新疆正积极布局人工智能科技产业，致力于打造辐射中国西北及中亚的人工智能高地。"新疆中科类脑 智算科技有限公司董事长刘海峰表示，该公司已在乌鲁木齐经济技术开发区(头屯河区)投运超1000P算 力，并建设算力调度运营中心、AI应用孵化中心及科研平台，推动AI在能源、电力、政务等领域的深 度融合。 刘海峰还表示，未来该公司将加强本地人才体系建设，推动更多应用场景落地，以促进人工智能技术规 模化应用和产业创新发展。 中新网乌鲁木齐9月5日电(苟继鹏)"新疆依托其独特的绿色能源、气候适宜、近邻中亚等有利于算力集 聚发展的优势，正在逐步激活算电协同发展的商业模式和增长空间。"粤港澳大湾区大数据研究院名誉 理事长杜平5日说。 当日，2025(第二届)新疆数字经济创新发展大会算电协同创新与发展研讨会在乌鲁木齐举行，来自政产 学研各界的嘉宾相聚于此，围绕算电协同创新与发展展开深入研讨。 杜平指出，近些年来，中国陆续规划实施"东数西算"工程和三级算力网体系，是缓解全国算力供需在空 间上不平衡、优化区域布局的重大战略性举措。新疆应充分发挥资源禀赋，建设数据中心，积极参 与"东数西算"工程建设、融入国家算力网络体系。 （文章来源： ...

Summary of Key Points from Conference Call Company and Industry Overview - The conference call primarily discusses **Tianqi Hongyuan** and its performance in the **renewable energy sector**, particularly focusing on wind and energy storage projects [2][3]. Core Insights and Arguments 1. **Financial Performance**: - Tianqi Hongyuan reported a **net profit of 164 million yuan**, a **42% increase year-on-year** in the first half of 2025 [2][3]. - The company is actively expanding its energy storage business, with projects like the **600 MW independent energy storage project in Zhaoqing** and the **2 GWh energy storage system integration project** [2][6]. 2. **Project Progress**: - The **Tianjin Jinghai 100 MW wind power project** and the **Chengde Aerospace Hongyuan 300 MW wind farm** are expected to complete grid connection and revenue confirmation by the end of the year [2][4]. - The **920 MW shared energy storage project** in Chengde is nearing completion, with rental agreements signed with 12 manufacturers [2][4][5]. 3. **Strategic Collaborations**: - The company has formed strategic partnerships with various entities, including **Gansu Mobile** and **Shell China**, to promote collaborative energy projects [2][7][9]. 4. **Revenue and Profitability**: - New wind power plants have significantly improved overall gross margins, with electricity prices rising to **0.41-0.42 yuan per kWh** due to guaranteed grid access and spot trading [2][10][13]. - The company expects gross profit margins to remain strong, with projections of **5.5 billion to 7.5 billion yuan** in gross profit for 2026 [4][29]. 5. **Market Dynamics**: - The company is adapting to market conditions, including fluctuations in lithium battery prices, by managing inventory and negotiating with customers [4][15]. - The **green electricity direct connection project** in Qingyang aims to reduce electricity costs for China Mobile to approximately **0.10 yuan per kWh** [8][9]. Additional Important Content 1. **Future Outlook**: - The company anticipates a positive performance in 2026, driven by the full confirmation of projects in Tianjin and Chengde, alongside new projects in Suizhou and Huaiqi [21][29]. - The **capacity rental income** from large storage projects is expected to generate around **130 million yuan annually** [29]. 2. **Regulatory Environment**: - The company is navigating regulatory changes, including the impact of anti-money laundering policies on the renewable energy sector, which may influence pricing and market dynamics [27]. 3. **Cash Flow Improvement**: - The improvement in operating cash flow is attributed to the progress of several power station projects and prepayments from contractors, indicating a sustainable trend [28]. 4. **International Expansion**: - The company is exploring opportunities in **Ethiopia** and **Australia**, focusing on microgrid systems and adapting to local climate conditions [22][28]. 5. **Technological Innovations**: - The **920 MW shared energy storage project** utilizes an **immersive liquid cooling system**, enhancing performance and safety [16][18]. This summary encapsulates the key points discussed in the conference call, highlighting the company's performance, project developments, strategic partnerships, and future outlook in the renewable energy sector.

Group 1 - The company achieved operating revenue of 1.122 billion and net profit attributable to shareholders of 116 million during the first half of 2025 [1] - The company has a strong competitive advantage in the elevator accessory industry, supported by comprehensive capabilities, R&D strength, quality customer resources, integrated business model, and nationwide service network [1] - The company actively adjusted production and inventory strategies, optimized product structure, and expanded escalator component customers to mitigate the impact of declining sales in the elevator market due to the real estate downturn [1] Group 2 - The company entered the renewable energy sector through its controlling stake in Beijing Tianqi Hongyuan New Energy Technology Co., Ltd., forming a dual-driven model of "elevator + renewable energy" [2] - Tianqi Hongyuan reported a net profit of 164 million in the first half of 2025, representing a year-on-year growth of 42.36% [2] - The company successfully advanced several projects, including the commissioning of a 100MW wind power project and the operation of a 920MWh shared energy storage station [2] Group 3 - Tianqi Hongyuan is focusing on the "computing power collaboration" industry trend and is actively participating in the construction of national computing power center cities [3] - The company signed a strategic cooperation agreement with the government of Qingyang City to establish a 2GWh energy storage equipment production line and a 1GWh lithium iron phosphate energy storage station [3] - A strategic cooperation agreement was also signed with China Mobile Gansu Co., Ltd. to innovate cooperation models and develop "new energy for communication infrastructure" projects [3]

Group 1 - The company reported a revenue of 1.122 billion yuan and a net profit of 116 million yuan for the first half of 2025, with a significant increase in cash flow from operating activities by 169.16% to 198 million yuan [1] - The company is a key player in the elevator components industry, supplying products to well-known elevator manufacturers and has a strong competitive advantage in integrated operations, technical research, and customer resources [1] - The company has actively responded to the downturn in the real estate market by adjusting inventory levels, optimizing product structure, and expanding its customer base in escalator components to mitigate the impact of declining sales in the elevator sector [1] Group 2 - The subsidiary Tianqi Hongyuan achieved a revenue of 342 million yuan in the first half of the year, with several renewable energy projects successfully progressing, including a 100MW wind power project and a 600MWh independent energy storage project [2] - The company is involved in the national "artificial intelligence +" initiative, focusing on optimizing the layout of national computing resources and enhancing the synergy of data, computing, electricity, and networks [2] - Tianqi Hongyuan is actively participating in the construction of national computing power centers and has signed strategic agreements to develop energy storage and renewable energy projects in collaboration with local governments and companies [3] Group 3 - The company has strengthened its storage technology advantages by collaborating with Shell China to promote immersion liquid cooling storage technology, aiming for commercialization and global expansion [3] - The company is exploring intelligent scheduling models for energy storage and has signed agreements to innovate in the "new energy communication infrastructure" sector [3] - The company is gradually evolving into a platform-type enterprise, focusing on high safety and high-density immersion liquid cooling technology [3]