AI产业持续爆发引发全球性电力短缺，关注电网ETF(561380) AI产业持续爆发引发全球性电力短缺，电力设备成为市场焦点。相关机构表示，根据EIA的预测，2030年数据中心的电力需求将较2023年增加150%以上， AI驱动的数据中心将占美国总电力负荷的9%，将带来14GW的装机缺口。装机缺口的需求将对电源电网设备形成强拉动。同时，英伟达此前发布800V电源 架构白皮书，单机能耗和电压提升，指引了800v供电、SST等新技术的发展需求。这也印证了那句话"AI的基础是算力，算力的尽头是电力。" 在北美等市场AI用电需求带来电力设备大幅缺口的同时，以中东等区域为代表的大规模电源电网建设也为电力设备形成非常显著的拉动。由于AI对海外电 力设备龙头的产能形成挤占，在这些区域国内厂商市场参与度更高，形成传统电力设备景气度持续兑现，AI输配电等新型电力设备需求和预期持续抬升的 双重景气。 算力之争，电力为王，在AI爆发推升全球电力短缺的背景下，电网设备板块延续强势，电网ETF（561380）午后涨超2.5%，近20日资金净流入近2.4亿元。 政策面利好不断，新型电力系统建设有望加速 国内来看，新型电力系统建设有望加速 ...

重庆入夜，李子坝轻轨楼依然热闹，"楼上居民、中间轻轨、楼下商业"构成立体共生的多元业态。物业 负责人张维玲表示："这里用电结构复杂、负荷大，但从未因电力不足影响运行。"这份用电获得感，正 是"耀红岩"服务品牌在城市核心商圈电网建设中的生动体现。 "过去变电站运维存在'九龙治水'的难题，如今新一代集中监控系统具备智能预警、事件化告警等功 能，一个站就能指挥45.8平方公里内的25座变电站，成为区域电力保供的'云端大脑'。"大溪沟集控站站 长张黎指着屏幕上实时跳动的变电全景图介绍。 从"被动响应"到"主动护航"，从"各自为政"到"合作为王"。通过数字化监控体系，该公司设备异常的响 应速度提升55%，站均巡视效率提升近2倍，实现了由"人工巡检"向"智能协同巡检"的转型升级。 集控站数字化建设只是国网重庆电力"耀红岩"服务品牌响应国家数字化发展战略，高质量助力超大城市 现代化治理的一个缩影。公司以"耀红岩"品牌为抓手，积极推进电网数字化转型，通过系统推进无人 机、机器狗、智慧仓储等智能化技术应用，构建起立体化、数字化的电网运维与保障体系，助力打造万 亿级智能电网新能源汽车、千亿级新能源及新型城镇化产业集群。 在"红岩 ...

12月4日，2025第八届中国能源产业发展年会在北京举行。年会以"构建新型电力体系 建设能源强国"为主题。本届年会由中国能源 报、中国能源研究会主办，G20青年企业家联盟中国总部联合主办，中央和国家机关有关部门负责同志、外国驻华使节、地方政府主管 部门代表、中外企业负责人和专家学者等参加论坛。 中国能源研究会理事长史玉波出席会议并致辞。 以下为发言内容整理 当前，我国能源发展正处在历史性跨越的关键阶段。党的二十届四中全会通过的《中共中央关于制定国民经济和社会发展第十五个五年 规划的建议》明确提出， 加快建设新型能源体系。持续提高新能源供给比重，推进化石能源安全可靠有序替代，着力构建新型电力系 统，建设能源强国。 这为推动"十五五"时期能源高质量发展绘就了清晰蓝图、提供了根本遵循。 "建设能源强国"这一战略目标，蕴含着对我国经济社会发展全局的深远考量，彰显了对全球能源变革趋势的精准把握。这一目标的提 出，标志着我国能源战略实现了从跟跑到领跑的历史性转折——我们不仅要筑牢坚实可靠、安全韧性的能源供给保障体系，更要在能源 科技自主创新、能源高效利用、产业迭代升级中抢占全球制高点，全力建成清洁低碳安全高效的新型能源体 ...

新华财经北京12月5日电（记者王悦阳）"十五五"规划建议提出，"持续提高新能源供给比重""着力构建 新型电力系统，建设能源强国"。回望"十四五"，我国逐光驭风、向"绿"而行，全社会用电量中，每3度 电就有1度绿电。 "十四五"是我国能源绿色低碳转型最快的五年。如果把五年间全国新增的光伏板铺展开，总面积可以覆 盖53万座足球场；把新增的风机叶片依次连接，长度相当于从中国最东端到最西端走一个来回。 看发电侧，绿电正从曾经荒无人烟的"沙戈荒"出发，横跨千里，实现"闪送"。 生活中，"开绿车、用绿电"成为越来越多人的选择。截至今年10月底，我国电动汽车充电基础设施总数 达1864.5万个，同比增长54%。 当前，北方地区已进入供暖季。在内蒙古兴安盟科右前旗大坝沟小学，教室内暖意融融，师生们告别了 煤炉取暖的"煤烟味"。今年以来，当地27所中小学校完成清洁能源供暖改造。 工厂里，绿电为产业升级注入新活力。例如，惠达卫浴股份有限公司2024年消费绿电2560万千瓦时，折 合节约3146.24吨标准煤，减排二氧化碳8463.39吨。"使用绿电有助于满足国外客户的环保要求，突破贸 易壁垒。"惠达卫浴设备能源动力部副部长侯鑫说 ...

Core Viewpoint - The development of the Chongqing power grid is crucial for enhancing energy supply security and supporting economic growth, with significant investments and projects underway to improve infrastructure and integrate renewable energy sources [1][4][9]. Group 1: Infrastructure Development - The approval of the Yuchuan back-to-back interconnection project will establish a new flexible DC back-to-back converter station in Chongqing, increasing the conversion capacity by 3 million kilowatts, thereby enhancing interconnectivity between the national and southern power grids [1]. - During the 14th Five-Year Plan, the Chongqing power grid has focused on building a strong power supply network, with significant projects like the 1000 kV ultra-high voltage project increasing power transmission capacity by 4 million kilowatts [2]. - The total investment in power grid construction during the 14th Five-Year Plan reached 58.2 billion yuan, a 39.9% increase compared to the end of the 13th Five-Year Plan, with installed power capacity exceeding 42 million kilowatts [3]. Group 2: Renewable Energy Integration - Chongqing has seen a significant increase in renewable energy capacity, with an annual growth rate of over 35.75% for wind and solar energy installations, reaching a total of 8.15 million kilowatts [6]. - The commissioning of the first million-kilowatt pumped storage power station in the Southwest region has enhanced the grid's ability to adjust and integrate renewable energy sources [4]. - The city has implemented a "Million Kilowatt Rooftop Distributed Photovoltaic" initiative, adding 239.64 thousand kilowatts of rooftop solar capacity, contributing to a total of over 5 million kilowatts of solar power [6]. Group 3: Energy Consumption and Electric Vehicles - The rise of electric vehicles in Chongqing has led to a significant increase in charging infrastructure, with 6,170 public charging stations and 382,000 private charging piles installed, achieving a total charging volume of 1.705 billion kilowatt-hours [8]. - The company has invested 1.6 billion yuan in enhancing the power supply for charging facilities, ensuring stable and quality electricity for electric vehicle users [7]. - The promotion of green energy consumption is transforming the lifestyle of residents and tourists, with a growing emphasis on low-carbon energy use in transportation and daily activities [7]. Group 4: Future Plans and Goals - The company aims to develop a new power system that is clean, low-carbon, safe, and efficient, while actively integrating high-quality clean energy and advancing new business models like virtual power plants [9]. - Plans for the 15th Five-Year Plan include enhancing the power grid's capacity and flexibility, ensuring a balance between local and external power sources, and supporting the transition to a low-carbon economy [9].

党的二十届四中全会《建议》提出，加快建设新型能源体系。持续提高新能源供给比重，推进化石能源 安全可靠有序替代，着力构建新型电力系统，建设能源强国。与会嘉宾认为，构建新型电力系统与建设 能源强国是战略目标与实施路径的深度绑定，建设能源强国是引领电力系统变革的顶层设计，构建新型 电力系统是实现能源强国的必由之路。新型电力系统作为新型能源体系的支撑和关键枢纽，通过关键技 术突破与产业升级，夯实能源强国的技术根基与产业实力。 《 人民日报 》（ 2025年12月05日 06 版） 本报北京12月4日电 （渠沛然）12月4日，2025第八届中国能源产业发展年会在北京举行。年会以"构建 新型电力体系 建设能源强国"为主题。 (责编：牛镛、岳弘彬) 关注公众号：人民网财经 本届年会由中国能源报、中国能源研究会主办，G20青年企业家联盟中国总部联合主办，并设置"中东 能源投资论坛"等活动。中央和国家机关有关部门负责同志、外国驻华使节、地方政府主管部门代表、 中外企业负责人和专家学者等参加论坛。 ...

新华社南京12月4日电（记者何磊静）记者12月4日从国网江苏省电力有限公司获悉，截至今年11月 底的最新数据显示，江苏今年分布式光伏新增装机量已超1650万千瓦，总装机规模已达6221万千瓦，两 项指标均居全国首位。 在全国加快建设新型能源体系背景下，江苏新能源建设不断提速。截至今年11月底，江苏省新能源 装机总量已超1.1亿千瓦，其中分布式光伏占比约72%，成为能源结构调整的重要推动力。 "十四五"期间，江苏分布式光伏从不足800万千瓦，发展到如今超6220万千瓦，年均增量超千万千 瓦。为保障新能源消纳，江苏加快建设新型电力系统，通过提升分布式光伏调控能力、整合建设虚拟电 厂等举措，实现光伏发电高效消纳与灵活调度。 【纠错】 【责任编辑:邱丽芳】 "作为制造业大省，江苏电力需求旺、新能源消纳能力强。分布式光伏'自发自用、余电上网'的特 性，可以匹配广大企业的白昼用电需求，既能降低企业用能成本，又能实现绿色电力就近高效消 纳。"国网江苏电力经济技术研究院能源研究所所长谢珍建说。 ...

编号：2025-002 | 投资者 | 特定对象调研 ☑ | □分析师会议 | | --- | --- | --- | | 关系活 | □媒体采访 | □业绩说明会 | | 动类别 | □新闻发布会 | □路演活动 | | | □现场参观 | | | | □其他 | （请文字说明其他活动内容） | | 参与单 | 陈光 | | | 位名称 | | | | 及人员 | | | | 姓名 | | | | 时间 | 2025 年 12 | 月 4 日（星期四）下午 14:30-16:30 | | 地点 | 会议室 | 河南省郑州市金水区农业路东 41 号投资大厦 A 座 2507 | | 上市公 | | 董事会秘书：李琳女士 证券事务代表：魏强龙先生 | | 司接待 | | | | 人员姓 | | | | 名 | | | | | 1200MW | 1、问：鲁山抽水蓄能 1300MW 项目、林州弓上抽水蓄能 | | | | 项目当前建设进度及政策性金融工具额度使用情况。 | | | | 答：公司目前在建的鲁山抽水蓄能 1300MW 项目、林州弓上抽水蓄 | | 投资者 | 能 1200MW | 项目为国家重点项目，均 ...

Core Viewpoint - The company reported a decline in financial performance for the first three quarters of 2025, with a focus on future industry development prospects in the context of global carbon neutrality and energy transition initiatives [2][4]. Financial Performance - For the first three quarters of 2025, the company achieved operating revenue of 234.99 million yuan, a year-on-year decrease of 12.38% - The net profit attributable to the parent company was 117.16 million yuan, down 5.89% year-on-year - The net profit after deducting non-recurring gains and losses was 78.53 million yuan, a significant decline of 29.51% year-on-year, primarily due to decreased demand from surrounding heating users and a drop in steam sales volume [2][4]. Industry Development Outlook - The company highlighted several key points regarding the future of the industry: 1. Promotion of clean and efficient coal utilization and acceleration of green and low-carbon energy transition 2. Development of new productive forces and transformation of renewable energy towards combined heat and power generation 3. Construction of a new power system to achieve clean and low-carbon energy transition [3][4]. Company Operations and Strategy - The company operates as a combined heat and power generation enterprise, primarily using municipal waste and coal as raw materials to provide industrial steam and electricity - The company emphasizes technological innovation and management model innovation to reduce costs and improve efficiency, aiming for high-quality development while ensuring safe and environmentally friendly production [5]. Shareholder Information - As of the end of the third quarter of 2025, the company had a total of 9,804 shareholders [4].

Core Viewpoint - China Southern Power Grid Co., Ltd. (referred to as "Southern Power Grid") is actively implementing reforms in line with national strategies, focusing on high-quality development and establishing itself as a model for state-owned enterprise reform [1][4]. Group 1: Reform and Development - Southern Power Grid is committed to deepening reforms as a fundamental path to promote high-quality development, fostering a culture of proactive reform across all levels of the organization [1][4]. - The company aims to achieve significant breakthroughs and create exemplary practices that contribute to the high-quality development of the industry and the establishment of first-class enterprises [1][4]. Group 2: Function and Mission Enhancement - The company is enhancing its role in technology innovation, industry control, and safety support, aligning its reform direction with national strategies [2]. - Southern Power Grid is integrating digital and green initiatives to promote the construction of a new energy system and a new power system, establishing advanced technology and equipment in its operations [2]. Group 3: Market Development - The Southern Power Market has initiated continuous settlement trials, becoming the first multi-provincial unified electricity spot market in China, facilitating cross-regional optimization of electricity resources [3]. - The green trading system has been established, with a reported cumulative green electricity transaction volume of 4,441 billion kilowatt-hours since 2023, reflecting an annual growth rate of 499% from 2023 to 2025 [3]. Group 4: Institutional Reform - Southern Power Grid is breaking down institutional barriers to create a production relationship that aligns with the modernization process and high-quality development requirements [4]. - The company has integrated party leadership into its governance structure and has become a model for corporate governance among state-owned enterprises [4]. Group 5: Internal Motivation and Responsibility - The company has implemented a new operating responsibility system that emphasizes market-oriented operations and has been recognized as an advanced case in state-owned enterprise reform [5]. - A comprehensive responsibility system has been established to ensure accountability and performance evaluation across the organization [5]. Group 6: Legal Framework and Compliance - Southern Power Grid has developed a legal framework that balances accountability and due diligence, supporting its strategic themes and promoting compliance in operations [6]. - The company emphasizes the importance of reform and innovation as key drivers for success in the current historical context [6].