Core Viewpoint - Liujiashan Hydropower Station, a significant milestone in China's hydropower development, has evolved over 67 years, contributing to national energy security and ecological protection while showcasing innovation and resilience in overcoming challenges [1][3][5]. Group 1: Historical Development - The construction of Liujiashan Hydropower Station began on September 27, 1958, amidst challenges of energy shortages and natural disasters, marking it as the first key project in the comprehensive planning for the Yellow River [3]. - The project faced skepticism from foreign experts regarding the feasibility of building a dam on the Yellow River, yet it was successfully completed through the dedication and hard work of thousands of builders [3][5]. - The hydropower station achieved significant milestones, including the first complete operation of five units by December 18, 1974, and the overall completion on February 4, 1975 [3][5]. Group 2: Technological Innovations - Liujiashan Hydropower Station is recognized for its technological advancements, being the first large-scale hydropower station in China to conduct its own surveying, design, equipment manufacturing, construction, and commissioning [5]. - The station developed the "stratified flow" sediment discharge technology, which significantly improved sediment management and reduced wear on equipment, discharging over 10 million tons of sediment from 1973 to 1989 [7][9]. - The recent construction of the Taohekou sediment discharge tunnel and expansion project has enhanced sediment management efficiency, increasing sediment discharge during stratified flow periods from 60% to 95.3% [9]. Group 3: Environmental and Economic Impact - Liujiashan Hydropower Station has played a crucial role in ecological restoration, planting over 1 million trees and greening an area of 3,382 acres, transforming the surrounding environment [15]. - The station has established a comprehensive system for water quality monitoring and management, investing over 8 million yuan in mechanized cleaning operations, which has improved local tourism and created over 15,000 jobs [17]. - The hydropower station contributes to the "dual carbon" goals by balancing the energy supply from renewable sources, thus ensuring grid stability and supporting the development of a new energy system in Gansu [11][13].

Core Viewpoint - The forum focused on the theme of "Innovation Leading, Green Intelligence Empowering, Supporting High-Quality Development of New Power System Equipment," emphasizing the importance of technological innovation and collaboration in the power equipment industry to achieve high-quality development in the context of China's 14th Five-Year Plan [1][2]. Group 1: Event Overview - The 2025 New Power System Development Forum was successfully held in Chongli, Hebei, with over 100 experts from power companies, research institutes, and equipment manufacturers attending [1]. - The event was organized by the China Electricity Council's Power Equipment and Supply Chain Branch, highlighting the significance of innovation in the power equipment sector [1]. Group 2: Key Insights from Speeches - Yu Chongde emphasized that the energy landscape is undergoing profound changes, and the technological innovation and stability of the power equipment manufacturing industry are crucial for energy security and high-quality economic development [2]. - Wang Lebi highlighted the need for a strong equipment industry chain supported by top-notch technological innovation and supply chain collaboration, advocating for an open and collaborative innovation ecosystem [2]. Group 3: Technical Reports and Innovations - Experts shared breakthroughs in flexible direct current transmission technology, new low-carbon coal power technology, and compressed air energy storage during the specialized report session [3]. - The meeting introduced the green procurement rules for power enterprises and the progress of the carbon footprint and environmental product declaration platform, aiming to promote the green and intelligent transformation of the power equipment manufacturing industry [3]. Group 4: Collaboration and Future Directions - The forum established a technical exchange platform, inviting representatives from various power equipment manufacturing companies to share their innovations and practices in supporting the high-quality development of the new power system [3]. - The event aimed to foster collaboration within the power equipment industry, promoting a win-win ecosystem and accelerating the transition to a new stage of high-quality development [3].

Core Insights - The forum held on September 25, 2023, in Chongli, Hebei, focused on the development trends and paths of power engineering cost management under the reform of cost management systems, emphasizing the integration of big data technology in engineering economics [1][5] - Key figures from the China Electricity Council and industry experts participated, highlighting the importance of energy transition and digital technology in shaping the future of power engineering economics [3][5] Group 1: Forum Overview - The forum was themed "Exploring New Paths in Power Generation, Empowering with Digital Intelligence" and aimed to provide insights for high-quality development in the power industry [1] - Approximately 300 representatives from government, industry associations, power companies, universities, consulting firms, software companies, and international organizations attended the event [8] Group 2: Key Presentations and Discussions - Pan Yuelong emphasized the critical role of power engineering economics in energy security, industry development, and public interest, especially during the 14th Five-Year Plan's concluding year and the ongoing push for carbon neutrality [5] - Wang Wei summarized the achievements and challenges of market-oriented reforms in engineering cost management, advocating for a focus on market reform, digital thinking, and standardized approaches to drive high-quality development [7] Group 3: Industry Collaboration and Future Directions - The forum facilitated a platform for sharing industry experiences and building consensus on innovative management practices in power engineering economics, aiming to support the construction of new power systems and achieve high-quality development in the sector [7] - The Electric Power Engineering Cost Index (ECCI) for 2024 was released, covering various aspects of power construction costs, including indices for unit costs, major equipment prices, and cost forecasts [7]

Core Viewpoint - The forum focused on the theme of "Innovation Leading, Green Intelligence Empowering, Supporting High-Quality Development of New Power System Equipment," emphasizing the importance of technological innovation and collaboration in the power equipment industry to achieve high-quality development in the context of China's 14th Five-Year Plan [2][4][5]. Group 1: Event Overview - The 2025 New Power System Development Forum was successfully held in Chongli, Hebei, with over 100 experts from power companies, research institutions, and equipment manufacturers attending [2]. - The event was organized by the China Electricity Council's Power Equipment and Supply Chain Branch, highlighting the significance of innovation in the power equipment sector [2]. Group 2: Key Themes and Discussions - The meeting addressed the need for technological innovation and a stable industrial chain to ensure energy security and promote high-quality economic development [4]. - Experts shared innovative breakthroughs in flexible direct current transmission technology, low-carbon coal power technology, and compressed air energy storage during the forum [7]. - The forum also introduced green procurement rules and advancements in carbon footprint and environmental product declaration platforms for the power industry [7]. Group 3: Industry Collaboration - The event aimed to foster collaboration between upstream and downstream sectors of the power equipment industry, encouraging joint innovation to overcome technical bottlenecks [5]. - A platform for technical exchange was established, allowing representatives from various power equipment manufacturers to share their innovations and practices [8]. - The forum emphasized the importance of creating an open and collaborative innovation ecosystem to support the development of domestic energy power equipment [7].

Group 1 - The forum held on September 25, 2023, in Chongli, Hebei, focused on the development trends and paths of power engineering cost management under the reform of the cost management system, emphasizing the integration of big data technology in engineering economics [1][9] - Key figures from the China Electricity Council and industry experts participated, discussing the intersection of technology, economics, and management in the context of energy security and industry development [4][7] - The 2024 Electricity Construction Engineering Cost Index (ECCI) was released, which includes indices for unit costs, major equipment prices, and cost forecasts across various power generation and grid engineering sectors [8] Group 2 - The forum served as a platform for sharing industry experiences and fostering consensus on innovative management practices in power engineering, contributing to the high-quality development of the electricity sector [9][10] - The event was co-hosted by several organizations, including the Electricity Engineering Cost and Quota Management Station and the China Electricity Council, with approximately 300 representatives from government, industry associations, power companies, and academic institutions in attendance [10]

Core Viewpoint - Haocreat Ruitong officially listed on the Shenzhen Stock Exchange's Growth Enterprise Market, marking a significant milestone for the company focused on smart distribution equipment and digital solutions for distribution networks [1] Group 1: Company Overview - Haocreat Ruitong specializes in smart distribution equipment and digital solutions for distribution networks, leveraging national strategic initiatives such as "carbon peak and carbon neutrality" to drive innovation and development [2] - The company has developed key technologies including fault location and self-healing technology for distribution networks, IoT-enabled sensing components, high-precision power sensor technology, and low-pressure sealed air-insulated technology [2] Group 2: Stock Market Performance - The initial public offering price was set at 21.00 yuan per share, with the stock opening at 58.00 yuan and peaking at 75.00 yuan before closing at 61.06 yuan, representing a 190.76% increase on the first day [1] - The total market capitalization reached 6.717 billion yuan, with a trading volume of 18.81 million shares and a turnover of 1.188 billion yuan, indicating a high turnover rate of 81.60% [1] Group 3: Future Plans and Investments - The company plans to use the raised funds of approximately 58.59 million yuan for projects including the production of smart ring network cabinets, smart pole-mounted switches, and the establishment of a smart distribution research center [3][4] - The projects aim to enhance production scale, automation, and information technology levels, thereby improving the company's competitive edge and ensuring sustainable operations [4]

亮眼成绩背后，是国网蒙东电力持续深化科技创新体制机制改革的成效。近年来，该公 司搭建高效协同创新框架，推行"四维评审""揭榜挂帅"等机制，2025年实验室资金规模较三 年前增长1.4倍；构建"产学研用"协同生态，兑现52.5万元科技奖金，有效激发科研人员创新 活力。目前，其已联合申报2项国家科技创新2030-智能电网重大专项，重大项目攻坚能力显 著提升。 下一步，国网蒙东电力将聚焦新型电力系统建设、特高压安全运行、有源配电网可靠性 提升及AI电网应用等方向，加大科研资源投入，强化关键技术研发，加快形成新质生产 力。 9月23日，2024年度内蒙古自治区科学技术奖励名单揭晓，国网蒙东电力斩获5项科学技 术进步奖，其中一等奖2项、二等奖3项，获奖数量居自治区电力行业首位，实现历史性突 破。 此次荣获一等奖的《面向新型电力系统的"源-网"柔性控制与支撑关键技术及应用》《新 能源大基地"风光火储热"多能互动与并网消纳关键技术及应用》项目，在新型电力系统构建 与新能源高效利用领域实现创新性突破，对提升电力系统灵活性、稳定性，推动新能源大规 模消纳并网具有重要战略意义。 获得二等奖的《适用于特高压复杂电力环境的量子保密通 ...

Core Viewpoint - The forum on "New Generation Coal Power Technology" highlighted the transition of coal power from a base-load power source to a flexible adjustment resource, emphasizing its critical role in supporting the new power system and achieving carbon neutrality goals [1][4]. Group 1: Importance of Coal Power - Coal power is increasingly recognized as a "ballast" and "regulator" in the energy system, contributing over 50% of the total power generation while accounting for less than 40% of the capacity [3][4]. - The coal power sector is essential for ensuring the stability and reliability of the power supply, especially in the context of rapid renewable energy integration [3][4]. Group 2: Technological Innovations - Significant advancements in coal power technology, such as supercritical and ultra-supercritical systems, flexible peak-shaving, and carbon capture, utilization, and storage (CCUS), are crucial for energy security and renewable energy absorption [6][7]. - The need for systematic and revolutionary innovations in coal power technology is emphasized, focusing on safety, flexibility, and low-carbon breakthroughs [6][7]. Group 3: Collaborative Efforts - The transition of coal power requires collaborative efforts from government, associations, enterprises, research institutions, and universities to promote green and low-carbon transformations in the coal power industry [10]. - The integration of advanced technologies like artificial intelligence and big data is essential for enhancing the operational efficiency and intelligence of coal power plants [9][10].

Group 1 - The core viewpoint of the news highlights the positive performance of the Central State-Owned Enterprises Modern Energy Index and its related ETF, indicating a growing interest in the modern energy sector [3][5] - As of September 25, 2025, the Central State-Owned Enterprises Modern Energy ETF has seen a cumulative increase of 6.23% over the past three months, with a trading volume of 134.47 million yuan and a turnover rate of 3.18% [3] - The total installed power generation capacity in the country reached 3.69 billion kilowatts by the end of August, reflecting an 18% year-on-year growth, with solar power capacity increasing by 48.5% and wind power capacity by 22.1% [3] Group 2 - At the 2025 New Power System Development Forum, experts emphasized the importance of accelerating the construction of a new power system to achieve carbon neutrality goals, advocating for the integration of production, education, research, and application of technological innovations [4] - Major energy state-owned enterprises proposed strategies for the 14th Five-Year Plan, focusing on large-scale and efficient development of renewable energy, enhancing system regulation capabilities, and building a unified national electricity market [4] - The energy transition during the 14th Five-Year Plan period will require balancing the relationship between renewable and traditional energy, as well as between government and market dynamics [4] Group 3 - The Central State-Owned Enterprises Modern Energy Index, customized by Guoxin Investment Co., includes 50 listed companies involved in green energy, fossil energy, and energy transmission, reflecting the overall performance of modern energy theme stocks [5] - The top ten weighted stocks in the index account for 48.28% of the total, with significant players including Changjiang Electric Power, China Nuclear Power, and China Petroleum [5]

Market Performance - On September 26, the wind power industry rose over 2%, with Jixin Technology achieving a two-day consecutive limit-up, and Mingyang Smart Energy and Riyue Shares also hitting the limit-up [1] Stock Information - Jixin Technology (601218.SS) latest price: 5.67, up 10.10%, market cap: 54.94 billion [2] - Mingyang Smart Energy (601615.SS) latest price: 15.53, up 9.99%, market cap: 352.76 billion [2] - Taiyuan Heavy Industry (600169.SS) latest price: 2.71, up 10.16%, market cap: 90.33 billion [2] Policy and Planning - China announced a new round of national contributions at the UN Climate Change Summit on September 24, aiming for a 7%-10% reduction in greenhouse gas emissions by 2035, with non-fossil energy consumption exceeding 30% of total energy consumption [3] - Morgan Stanley predicts that during the 14th Five-Year Plan, wind power installations will accelerate, with an average annual increase of over 110 GW, reaching approximately 120 GW by 2028-2030 [3][4] - The Ministry of Industry and Information Technology, the State Administration for Market Regulation, and the National Energy Administration have issued a plan to promote high-quality development in the wind power and new energy equipment industry [3] Industry Insights - It is expected that approximately 52 GW of nearshore projects will still need to be developed during the 14th Five-Year Plan, with an average annual installation of about 13 GW for nearshore wind power [6] - The domestic wind power construction has accelerated, with significant growth in offshore wind power grid connections expected in the first half of 2025 [6][7] - The trend towards larger wind turbines and the application of new technologies are expected to enhance profitability in the industry [6][8] Global and Domestic Market Outlook - The global offshore wind auction volume is expected to reach 56.3 GW in 2024, with an additional 100 GW of auction capacity anticipated in the next two years [6] - In the domestic market, the acceleration of offshore wind construction is expected to lead to a short-term performance realization period in Q3 [7] - The trend of large-scale wind turbines and the expansion into overseas markets are expected to enhance the profitability of wind power component manufacturers [8]