2025年8月26日早盘A股三大股指涨跌不一，沪指跌0.28%，深成指涨0.08%，创业板指跌0.45%。创 业板新能源 ETF 华夏（159368）小幅回调，下跌0.43%，持仓股天孚通信强势领涨，涨幅超15%。 创业板新能源ETF华夏（159368）是全市场首只上市跟踪创业板新能源指数的ETF基金，该指数主 要涵盖新能源和新能源汽车产业，涉及电池、光伏等多个细分领域，弹性大、成长性强，行业结构与反 内卷政策高度契合。此外，创业板新能源ETF华夏（159368）管理费率为0.15%，托管费率为0.05%，合 计仅为0.2%，同类产品费率最低档，助力大家"一键上车"快速把握投资机遇。如果看好未来新能源发展 投资机遇，建议持续关注。 每日经济新闻 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 消息面上，光伏组件厂商出现业绩改善信号。截至8月22日，包括隆基绿能、通威股份、天合光能 ...

Core Viewpoint - The news highlights the rapid and high-quality development of renewable energy in China during the "14th Five-Year Plan" period, characterized by faster growth, higher electricity share, better spatial layout, and greater global contribution [1][2]. Group 1: Development Speed - The annual new installed capacity of wind and solar power has reached a "billion-kilowatt" level, increasing from 530 million kilowatts in 2020 to 1.68 billion kilowatts by July 2023, with an average annual growth rate of 28%, accounting for 80% of the new power installations during the "14th Five-Year Plan" [1]. Group 2: Electricity Share - The share of wind and solar power in total electricity consumption has risen from 9.7% in 2020 to 18.6% in 2024, with an average annual increase of over 2 percentage points. In the first half of this year, wind and solar power generation reached 1.15 trillion kilowatt-hours, nearly 25% of total electricity consumption, surpassing the electricity consumption of the tertiary industry and urban-rural residents [1]. Group 3: Spatial Layout - The "Shagao Desert" has emerged as a new frontier for renewable energy construction, with over 130 million kilowatts of new installed capacity. Offshore wind power has added over 35 million kilowatts, providing green energy to coastal provinces. Distributed solar power has also seen significant growth, with over 40 million kilowatts of new installed capacity, including 16 million kilowatts from household solar systems, making over 7 million families "solar landlords" [2]. Group 4: Global Contribution - China has maintained the world's largest installed capacity for wind power for 15 consecutive years and for solar power for 10 consecutive years. By 2024, China's total installed capacity for wind and solar power will account for 47% of the global total, with new installations representing 63% of the global market, further solidifying its leading position and receiving widespread international recognition [2].

Group 1 - The A-share market opened lower on August 26, 2025, with over 2,600 stocks rising, indicating a positive market sentiment despite the initial dip [1] - The National Energy Administration reported that China's total electricity consumption reached 1.02 trillion kilowatt-hours in July, marking an 8.6% year-on-year increase and doubling over the past decade, which is equivalent to the annual electricity consumption of ASEAN countries [1] - This marks the first time that China's monthly electricity consumption has surpassed the trillion-kilowatt-hour mark, a global first, with renewable energy sources like wind, solar, and biomass rapidly increasing, accounting for nearly one-quarter of total electricity generation [1] Group 2 - The Huaxia New Energy ETF (159368) is the first ETF in the market to track the New Energy Index of the ChiNext board, covering various sectors within the new energy and electric vehicle industries, including batteries and photovoltaics, showcasing strong growth potential [1] - The management fee for the Huaxia New Energy ETF is 0.15%, and the custody fee is 0.05%, totaling only 0.2%, which is the lowest among similar products, facilitating quick investment opportunities for investors [1] - Investors are encouraged to continuously monitor potential investment opportunities in the new energy sector, given the favorable industry structure and alignment with anti-involution policies [1]

2025年以来，龙源电力牢牢把握生态文明建设和能源转型机遇，主动应对市场环境变化带来的困难挑 战，贯彻落实一系列固根本、利长远的工作，稳中求进、精准施策，加快融入国家新能源发展大局大 势。 2025年是"十四五"规划收官之年，也是"十五五"规划谋篇之年。今年以来，龙源电力紧密跟踪各省新能 源上网电价市场化改革实施方案发布情况，积极应对电力市场建设全面加速和新能源全面入市形势，深 化"六位一体"营销体系，重点关注机制电量纳入规模、增量项目竞价安排、现货价格上下限等关键内 容，踊跃参与各省区市场化改革方案规则制定，争取有利政策。动态优化交易策略，统筹中长期交易与 月度、月内、多日等短周期交易调仓，实现中长期交易与现货交易精准衔接，确保交易量价最优。积极 争取储能充放电计划，大力开拓绿证外销市场，寻找发电效益最优解。 除此之外，在科技创新赛道上，龙源电力持续加码发力，依托新能源数字化平台与AI大模型，搭建"三 比三看"对标体系。积极投身国家重点项目，国家重点专项"多场景风电场规划设计关键技术及软件开 发"、国家自然基金项目"风机叶片与光伏板表面防冰涂层的制造与应用"成功获批。国家科技重大专 项"多类构网型设备接入下 ...

Investment Rating - The report maintains an "Outperform" rating for the public utility and environmental sectors [5][8]. Core Views - The report highlights the implementation of the Gansu 136 document, which outlines a market-oriented pricing mechanism for renewable energy projects, with a mechanism price set at 0.3078 yuan/kWh for existing projects [2][15]. - The establishment of electricity spot markets is accelerating, with seven regions expected to have operational markets by the end of 2025, enhancing resource allocation efficiency [3][16]. - The report emphasizes the potential for stable profitability in the thermal power sector due to synchronized declines in coal and electricity prices [21]. Summary by Sections Market Review - The Shanghai Composite Index rose by 2.37%, while the public utility index fell by 0.55%, and the environmental index increased by 1.72% [14][23]. - Within the power sector, thermal power decreased by 1.55%, hydropower by 1.26%, and new energy generation by 0.08% [24]. Important Policies and Events - The Gansu provincial government issued a plan to promote high-quality development of renewable energy, specifying a total of 154 billion kWh for existing projects under the new pricing mechanism [2][15]. - The plan allows for competitive bidding for electricity prices within set limits, with a 12-year execution period for new projects starting from June 2025 [15]. Investment Strategy - Recommendations include major thermal power companies like Huadian International and Shanghai Electric, as well as leading renewable energy firms such as Longyuan Power and Three Gorges Energy [21][22]. - The report suggests that nuclear power companies like China Nuclear Power and China General Nuclear Power will maintain stable profitability due to growth in installed capacity and generation [21]. - High-dividend hydropower stocks like Yangtze Power are highlighted for their defensive attributes in a declining interest rate environment [21]. Key Company Earnings Forecasts and Investment Ratings - A table lists various companies with their investment ratings, including Huadian International (Outperform), Longyuan Power (Outperform), and Yangtze Power (Outperform), along with their earnings per share (EPS) forecasts and price-to-earnings (PE) ratios for 2024 and 2025 [8].

Group 1: Energy Transition and Green Development - The article emphasizes the transformation of China's energy landscape towards green and low-carbon development, highlighting the integration of ecological priorities in economic growth [1][10][17] - Significant advancements in renewable energy, such as wind and solar power, have been made, with non-fossil energy generation capacity surpassing 60% for the first time [12][14] - The shift from coal as a primary energy source to its use as a chemical feedstock is noted, with coal consumption projected to decrease to 53.2% by 2024, down over 15 percentage points since 2012 [2][4] Group 2: Technological Innovations and Projects - The article discusses various innovative projects, including the conversion of abandoned oil fields into renewable energy sites, showcasing the synergy between traditional and renewable energy sources [5][7] - The implementation of Carbon Capture, Utilization, and Storage (CCUS) technology in oil extraction is highlighted, which can enhance oil recovery by over 12% while reducing carbon emissions [7][8] - The development of integrated energy systems, such as combining wind, solar, and hydroelectric power, is presented as a strategy for enhancing energy security and sustainability [9][10] Group 3: Ecological Restoration and Community Engagement - The ecological restoration efforts in coal mining areas, achieving over 90% vegetation coverage and significant soil nutrient improvement, illustrate the commitment to environmental sustainability [4][17] - Community-level initiatives, such as zero-carbon communities and rooftop solar installations, are emerging, demonstrating the grassroots adoption of renewable energy solutions [16][17] - The article emphasizes the importance of ecological assessments in renewable energy projects to ensure minimal environmental impact, reflecting a commitment to harmonious coexistence with nature [17]

Group 1 - The A-share market opened with three major indices showing a low start but rebounding, with the ChiNext New Energy ETF (Hua Xia, 159368) experiencing a slight decline of 0.68% as of 10:32 AM, despite a 3.03% increase over the past five trading days [1] - In July, China's automobile sales reached 2.593 million units, showing a month-on-month decline but a year-on-year increase of 14.7%. New energy vehicle sales accounted for 1.262 million units, representing 48.7% of total new car sales, indicating a robust growth trend in the new energy vehicle sector [1] - Guosen Securities stated that the photovoltaic industry is undergoing necessary consolidation and expects to enter a stable development phase by 2027, with silicon material segments showing significant competitive advantages [1] Group 2 - The ChiNext New Energy ETF (Hua Xia, 159368) is the first ETF in the market tracking the ChiNext New Energy Index, covering various sectors within the new energy and new energy vehicle industries, including batteries and photovoltaics, which are characterized by high growth potential [2] - The management fee for the ChiNext New Energy ETF is 0.15%, and the custody fee is 0.05%, totaling 0.2%, making it the lowest fee among similar products, facilitating quick investment opportunities in the new energy sector [2]

本报讯(记者李如是)8月11日，云南能源投资股份有限公司(以下简称"云南能投（002053）")发布公告 称，公司投建的永宁风电场扩建项目(泸西片区)首批2台、装机容量1.25万千瓦风力发电机组和永宁风电 场扩建项目(弥勒片区)首批3台、装机容量2.145万千瓦风力发电机组实现并网发电。至此，公司已投产 发电的风电总装机容量增加至185.435万千瓦，公司已投产发电的新能源(包括风电和光伏)总装机容量达 到203.035万千瓦。 公告显示，永宁风电场扩建项目(泸西片区)及永宁风电场扩建项目(弥勒片区)建设及机组陆续并网发 电，有利于进一步提升云南能投新能源装机规模，促进公司新能源核心主业的做强做优做大，增强公司 核心竞争力，推动公司"十四五"战略发展目标实现，预计将对公司2025年度经营业绩产生积极影响。 如今，云南能投新能源装机规模已从2021年的37万千瓦增长至目前的203万千瓦，增长幅度达到 448.65%。 对于新能源装机量的大幅增长，云南能投表示，公司紧抓战略机遇，积极践行国家和云南省能源发展战 略，聚焦新能源项目的投资、开发、建设和运营管理，按照"做好存量，争取增量"的方式，通过自建、 并购等多种 ...

Core Insights - The Shandong Zaozhuang Mingyuan 400MW/800MWh electrochemical energy storage project has a total investment of 1.24 billion yuan, with a unit cost of 1.55 yuan/Wh [1] - The project aims to enhance local renewable energy consumption capacity and is part of the Zaozhuang city's "14th Five-Year" renewable energy development plan [1][2] - The project includes the construction of a 400MW/800MWh energy storage system and a supporting 220kV booster station, divided into three areas: energy storage, transformer, and auxiliary facilities [1] Investment and Environmental Impact - The project has an environmental investment of 1.352 million yuan, accounting for 0.1% of the total investment [1] - It is expected to play a significant role in promoting the implementation of renewable energy development plans, constructing an energy internet, and facilitating power system reforms [2] - The project will leverage the demonstration effect of Zaozhuang's provincial "energy storage demonstration base" to drive further investments in energy storage stations [1]

Core Viewpoint - The city of Golmud in the Qaidam Basin has developed significantly due to the presence of the Chaqi Salt Lake, which is the second largest salt lake in the world and serves as a major potassium fertilizer production base in China [1][3]. Group 1: Economic Development - Golmud is recognized as the largest potassium fertilizer production base in the country, with the salt lake being a crucial resource for this industry [3]. - The local economy is heavily reliant on the salt lake, with many residents having moved to Golmud for salt mining opportunities [3]. Group 2: Infrastructure and Environment - The city faces challenges due to its location in a desert area, leading to significant efforts to manage water resources, including the construction of water channels along major roads [4]. - The architecture in Golmud is designed to mitigate the effects of wind and sand, with most buildings limited to six stories [4]. Group 3: Renewable Energy - Golmud has transformed parts of its desert landscape into a hub for renewable energy, featuring extensive solar panels and wind turbines, contributing to its reputation as a "paradise" for energy development [8]. Group 4: Cultural Aspects - Golmud serves as a cultural melting pot, attracting diverse populations and offering a variety of culinary experiences, reflecting its role as a transportation hub connecting Xinjiang and Tibet [8].