在"双碳"目标提出的第五个年头，关于产业生态的讨论，愈发需要一线的声音。 12月23日，由36氪与东方证券及旗下子公司东证创新、东证资本联合发起的第四届"双碳星物种·碳索计划"第三站在上海启动。这也是本届"碳索计划"的收 官站。 从郑州航空港区的"未来交通"，到北京大兴的"未来能源"，再到上海聚焦"未来技术"，"碳索计划"沿着双碳目标的现实推进路径，持续向产业纵深行进。 也正因此，本次活动选择走进上海人工智能产业的重要载体"模速空间"，实地探访人工智能从技术创新走向系统落地的现实样本。 作为发起者，东方证券与36氪组织投资机构与产业链上下游企业深入产业现场，围绕AI驱动下的产业创新路径、低碳智能制造的现实可能性展开系统性探 讨。 01 AI进入低碳叙事，需要产业一线的创新现场 "2030碳达峰这场关乎未来的绿色竞赛，已经进入实质性的压力测试阶段。"36氪副总裁谢作强在现场指出，"创新不应该只存在于路演的PPT里，更应该在 产业一线。"这一判断，直接点出了本届"双碳星物种·碳索计划"不断走向产业腹地的原因。 当双碳目标进入执行阶段，面临着一个更现实的问题：在高度成熟、结构紧密的工业体系中，绿色转型如何真正落地。 ...

证券日报网讯 12月30日，三峡能源在互动平台回答投资者提问时表示，公司牢牢把握发展机遇，深入 践行能源安全新战略，稳妥有序落实"双碳"目标任务，着力推进能源绿色低碳转型，服务构建新型电力 系统与新型能源体系。 （编辑 任世碧） ...

上汽大众表示，公司成立四十余年来，持续践行绿色可持续发展理念。特别是在中国提出"3060"双碳目 标后，上汽大众在汽车行业内较早开始系统探索减碳路径。公司基于产品全生命周期评价理论，建立了 一套碳减排管理体系，围绕产品开发、供应链、生产制造、物流、销售、使用乃至回收利用等环节，推 动全价值链的碳减排。 在组织运营层面，"十四五"期间，上汽大众的万元产值综合能耗降低了41.5%，万元产值二氧化碳排放 量下降了78.2%。在产品层面，根据中国汽车产业链碳公示平台（CPP）的数据，上汽大众有88.5%的产 品碳足迹处于行业领先水平。 12月27日，在青岛举行的第四届中国工业碳达峰论坛上，上汽大众被中国工业经济联合会等单位评为 2025中国工业碳达峰"领跑者"企业。 | | | 2025 中国工业碳达峰"领跑者"企业 | | | --- | --- | --- | --- | | | | (46家企业排名不分先后) | | | 国家电力投资集团有限公司 | 西安空调无线电技术研究所 | 鼠系湯天水泥阀器有限责任公园 | 继建设工业管理和限公司 | | 中国运洋海运集团有限公司 | 中国核复电力股份有限公司 | 内蒙古 ...

Core Viewpoint - The China Chemical and Physical Power Industry Association has issued an initiative to promote the healthy and orderly development of the lithium iron phosphate (LFP) materials industry, addressing challenges such as persistent losses among companies, volatile lithium resource prices, low overall capacity utilization, and frequent low-level redundant construction [1][5]. Group 1: Market Environment and Challenges - The global energy transition has accelerated, leading to a surge in demand for LFP materials, with China's production capacity expected to exceed 95% of global capacity by the end of 2025 [1][5]. - The industry faces significant challenges, including ongoing losses for many companies, severe price fluctuations in lithium resources, low capacity utilization rates, and issues related to redundant construction [1][5]. Group 2: Initiatives for Industry Improvement - The association advocates for the establishment of a "LFP product cost price index" to provide objective pricing references and to combat malicious price competition [1][5]. - It calls for upstream and downstream companies to strengthen strategic collaboration to build a resilient supply chain ecosystem, addressing the impact of raw material price volatility [2][6]. Group 3: Capacity Management and Industry Standards - Companies are encouraged to manage capacity utilization dynamically, with a recommendation to pause new capacity investments if utilization falls below 70%, and to eliminate outdated production lines [3][7]. - The initiative promotes the establishment of high industry entry standards based on existing regulations, aiming to accelerate the exit of inefficient capacity and optimize the industry structure [3][7]. Group 4: Innovation and Quality Focus - Companies are urged to shift their competitive focus from price to technological innovation, product performance, and service enhancement, with an emphasis on increasing R&D investment [4][8]. - The association aims to foster a high-quality industry ecosystem driven by innovation, adhering to national regulations and promoting a culture of quality and safety [4][9].

业内人士认为，在"双碳"目标持续推进、能源结构转型步入深水区的背景下，如何为巨量的绿色能源基础设施注入金融活 水，成为行业与监管共同面对的课题。碧澄能源机构间REITs的落地，提供了一种新的解题思路。该产品的底层资产穿透后， 直接对应碧澄能源多个已稳定运营的工商业分布式光伏项目所产生的收益权。这重设计，让此次设立超越了单纯的融资行为。 本报讯 （记者张文湘）12月29日，由杭州碧澄能源发展有限公司（以下简称"碧澄能源"）作为原始权益人，洛能（杭州） 股权投资有限公司（以下简称"洛能资本"）担任资产管理顾问和财务管理顾问的国内首单分布式清洁能源资产机构间REITs （以下简称"碧澄能源机构间REITs"），在深圳证券交易所成功设立，产品名称为"兴证基实-碧澄能发新能源持有型不动产资产 支持专项计划（碳中和）"。 市场观察人士指出，这是基础设施领域不动产投资信托基金（REITs）向能源板块纵深拓展的一次关键性"探路"。 据悉，该产品的期限为24年，底层资产为工商业分布式光伏项目。产品认购方包括保险、信托、证券和资产管理公司等专 业投资机构，体现了资本市场机构投资者对优质绿色基础设施资产的广泛认可、长期信心与价值共 ...

多年的项目实践让蓝然技术不断进行电渗析应用技术的迭代创新，形成了"技术沉淀-吸引新项目-应用 技术迭代创新-扩大技术优势"的正向循环发展模式。蓝然技术项目经验丰富，了解客户生产工艺，精通 物料衡算，能够根据客户行业及使用场景的不同，设计出相应的电渗析技术应用方案，把电渗析应用技 术嫁接到客户生产工艺，或者结合客户生产工艺和原材料使用情况，把客户的工业料液进行经济、高效 分离，分别回收利用，实现循环经济。 目前，蓝然技术在新能源锂电、碳捕捉、生命医药、化工/石化等核心下游领域已形成稳定的业务流， 技术达到国内领先水平，在技术上不断精进基础上，通过产业的延伸与拓展，由点及面，每年为蓝然技 术带来收益。在此基础上，电渗析技术也在各个领域进行全面拓展。 在国家推动绿色低碳发展与产业升级的政策导向下，嘉戎技术通过发行股份及支付现金的方式收购杭州 蓝然技术股份有限公司100%股权的重组并购事件，成为膜分离技术领域产业链整合的重要实践，而蓝 然技术在电渗析技术领域的深厚积淀，正是此次产业协同的核心价值所在。 蓝然技术积累了大量电渗析和双极膜电渗析工程运行数据，并建立了数学模型。结合法拉第定律，通过 运行数据逻辑运算和编程， ...

时至2025年末，"十四五"规划即将迎来收官。回望过去五年，面对复杂的国际能源格局和国内经济社会发展的迫切需求， 我国能源领域取得了一系列瞩目的成就。其中，天然气作为清洁高效的化石能源，在能源结构优化和保障国家能源安全的 战略中扮演着日益重要的角色。 02 科技创新引领："含新量"铸就勘探开发"含金量" 如果说战略布局是蓝图，那么科技创新无疑是实现这张蓝图的"金钥匙"。长期以来，中国石油始终高擎科技利剑，攻克了 一个又一个世界级勘探开发难题，推动国内天然气产量屡创历史新高。 在鄂尔多斯盆地，面对低渗、低压、低丰度的"三低"油气藏这一世界性难题，长庆油田的科研团队转变思路，组建多专业 联合专班，通过在压裂技术等方面的持续攻关，最终建成了我国首个年产超500亿立方米的特大型产气区。如今，长庆油田 保障着京津冀等数十个大中城市的用气需求。 在地形险峻、地质复杂的四川盆地，西南油气田聚焦深层页岩气和致密气的高效开发。尽管面临套管变形等诸多挑战，但 技术人员迎难而上，成功建成了我国西南地区首个年产400亿立方米的大气区，成为保障区域能源供应的"压舱石"。 在广袤的西域大漠，塔里木油田则不断深化对超深层复杂气藏的地质理论 ...

1. Report Industry Investment Rating The document does not mention the industry investment rating. 2. Core Views of the Report - The Huaxia CNNC Clean Energy REIT project has certain new - share subscription cost - effectiveness. Its underlying asset, the Popona Hydropower Station, is a mature clean - energy infrastructure with stable operation history and good cash - flow sustainability. The short - term and long - term revenue paths are clear, and it is supported by the regional power supply - demand environment [5]. - The competition risk is controllable in the short term, and in the long term, it is expected to benefit from the synergistic effect of upstream reservoirs. The original equity holder has strong strength, which provides a solid guarantee for the project operation. The valuation and distribution of this project are higher than comparable projects [5]. - In the current REITs market after adjustment, the project's new - share subscription is expected to attract investors who focus on stable returns and the energy infrastructure sector. Its listing performance may be promoted by both the support of asset fundamentals and the marginal improvement of market sentiment [5]. 3. Summary According to the Directory 3.1 Project Basic Situation - The Huaxia CNNC Clean Energy Closed - end Infrastructure Securities Investment Fund was registered by the China Securities Regulatory Commission on December 9, 2025. The underlying asset is the Popona Hydropower Station in Xinjiang, and the main source of cash - flow is electricity sales revenue [8]. - The project was completed in 2016, with a total installed capacity of 150,000 kilowatts and a designed annual power generation of 666 million kWh. From 2022 to 2025 H1, the company's gross profit margin maintained a good level, with fluctuations mainly due to equipment maintenance,停机避沙, and changes in power generation and electricity price structure [9]. - Except for 2024, the project's water abandonment rate remained at a relatively low level. In 2024, the water - available power generation and actual power generation reached 785 million kWh and 679 million kWh respectively [12]. 3.2 Hydropower Industry Pattern Analysis - Hydropower is an important part of the clean - energy system, currently accounting for about 15% of the national power supply. China's hydropower resources are becoming scarcer, with the installed capacity of conventional hydropower reaching 436 million kilowatts by the end of 2024 [15]. - In 2024, China's power supply - demand was in a "tight balance" state, with the highest power consumption load hitting a record high. The power consumption demand continued to grow steadily, while the new - energy installed capacity expanded rapidly, but its output was volatile [16]. - In Xinjiang, the hydropower operation environment has certain support. The power - market reform is advancing, and the water abandonment situation has improved. The Karakash River Basin has a clear hydropower development plan, and the planned new projects are progressing slowly in the short term, with uncertain long - term impacts [17][18][19]. - In the long - term, the hydropower industry has stable development potential. Pumped - storage power is expected to become a main regulating power source, and hydropower can play a greater role in promoting the "integration of wind, solar and hydropower" [20]. 3.3 Project Stability 3.3.1 Hydrological Conditions and Operation Basis - The hydrological conditions of the Karakash River are stable in the long term. The project can rely on the upstream Wuluwati Water Conservancy Project and its own facilities to adjust operation, which helps to stabilize power generation [22]. 3.3.2 Power Consumption and Dispatching Environment - The Hotan region has long - term power consumption capacity, and the "Power Transmission from Xinjiang" project provides stable support. Hydropower is in the priority dispatching sequence in the local power grid and is less affected by the rapid growth of photovoltaic installation [23]. 3.3.3 Upstream Reservoir and Power Grid Dispatching Synergy Relationship - The project can benefit from the regulation of upstream reservoirs and the "solar - hydro complementarity" dispatching mode. The future upstream reservoir is expected to increase the annual power generation of the Popona Hydropower Station by 5% [24]. 3.3.4 Electricity Price Mechanism and Water Abandonment Situation - In 2025, the power generation of the Popona Hydropower Station is fully included in the priority power - generation plan. From 2026, it will gradually participate in the market - oriented transaction, and the predicted market - oriented electricity price is about 0.25 yuan/kWh (tax - included) [25][26]. - The proportion of market - oriented transactions has been increasing. In 2024, the water - abandonment rate increased significantly due to insufficient grid consumption capacity. In the long - term, the water - abandonment pressure is expected to be alleviated with the improvement of demand and grid capacity [27][30]. 3.4 Original Equity Holder - The original equity holder is Xinjiang Xinhua Hydropower Investment Co., Ltd., which is controlled by the State - owned Assets Supervision and Administration Commission of the State Council. It is the largest hydropower operator in Xinjiang, with stable operation and profitability [31][33][34]. - After the fund issuance, the wholly - owned subsidiary Yulong Company will be responsible for project operation management, with more than 10 years of operation experience in the Popona Hydropower Station, providing a guarantee for stable project operation [40]. 3.5 Valuation and Distribution Rate 3.5.1 Historical Review of Energy Infrastructure - related REITs - REITs have certain "convertible - bond - like" attributes, related to interest - rate trends and the equity market. Energy infrastructure - related REITs have seen weakening performance since July 2025, but the new - share subscription income of new - issued REITs is still expected to be at a relatively ideal level [41]. 3.5.2 Valuation Analysis - The estimated value of the project's asset group is 1.253 billion yuan (as of June 30, 2025). The estimated annual power generation is 658 million kWh, which is a conservative assumption. The net cash - flow distribution rates for July - December 2025 and 2026 are 6.03% (annualized) and 5.64% respectively, and the IRR for fund investors during the fund's duration is 6.10% [44][45]. - Compared with the only comparable listed hydropower REIT (China Asset Management China Power Construction Clean Energy REIT), the Huaxia CNNC Clean Energy REIT is superior in asset value and cash - flow distribution ability, with more advantages in cash - flow return and distribution stability [46][49].

硬核交付实力源于前瞻布局与深厚积淀，电投新能已构建"一点多翼"发展格局，以南昌研发中心为创新核心，龙港、遂宁智能化基地 为制造支撑，形成 15GW的HJT电池及组件年规划产能，率先实现无银化技术规模化应用 ，凭借全球领先的智能制造体系，确保每一 笔订单都能"高质量、稳交付"。此次200MW组件的持续供应，不仅是企业综合实力的集中体现，更是HJT技术规模化赋能分布式光伏 的生动实践。 以下文章来源于电投新能DintoSolar ，作者电投新能 电投新能DintoSolar . 专注于高效异质结太阳能电池和组件的研发和生产 在光伏行业向N型时代加速迈进的关键节点，异质结（HJT）技术正成为驱动行业高质量发展的核心引擎。电投新能作为国家电投集团 布局光伏前沿科技的标杆企业，凭借技术领先性与交付可靠性， 成功中标山东华电200MW户用分布式光伏组件项目 ， 并实现稳定按 期交付 ， 以实际行动定义行业"新质生产力"标准。 该项目堪称分布式光伏领域的"高标准样本"： 覆盖山东十六地市民宅屋面，采用715W/720W N型HJT组件，严格遵循中国计量院最 高技术规范，代表当前光伏行业最严苛的产品要求 。 面对挑战，电投新 ...

Core Viewpoint - The article highlights the ongoing efforts of EVE Energy Co., Ltd. to enhance its capabilities in the energy storage and intelligent manufacturing sectors, emphasizing its dual focus on "hydrogen-lithium-sodium electrochemical energy storage solutions" and "comprehensive intelligent factory services" [1][6]. Group 1: Company Development and Strategy - EVE Energy has been a key player in the lithium battery industry for over 20 years, transitioning from a leading lithium battery supplier to a provider of comprehensive energy storage solutions and intelligent manufacturing services [1][6]. - The company has established a multi-dimensional financing system, raising over 10 billion yuan through various capital market tools to support its production line construction and R&D upgrades [2]. - In 2024, EVE Energy's R&D investment reached 3.06 billion yuan, a year-on-year increase of 6.58%, accounting for over 6% of its revenue [2]. Group 2: Innovation and R&D - EVE Energy has developed a comprehensive R&D system with over 6,000 researchers across various disciplines, enabling rapid transformation from theory to practice in emerging application scenarios [4]. - The company has applied for over 10,000 domestic and international patents and has been involved in 25 national-level projects, showcasing its commitment to innovation [2][4]. Group 3: Product Development and Market Position - In the consumer battery sector, EVE Energy's lithium batteries have become core components in industrial automation and automotive electronics, filling gaps in the domestic market [5]. - The company has achieved significant breakthroughs in the power battery sector, becoming the first in China to mass-produce large cylindrical batteries, with over 70 GWh of capacity and more than 60,000 units delivered [5]. - EVE Energy leads the industry in energy storage battery technology, being the first to mass-produce 600Ah+ large square lithium iron phosphate batteries, with a strong global market presence [5]. Group 4: Future Outlook and Goals - EVE Energy aims to create an industrial closed loop through its new "EVE Sodium Energy Headquarters and Jinyuan Robot AI Center," enhancing production efficiency and product precision [6]. - The company is committed to leveraging various capital market tools to strengthen its resilience and quality, while also improving governance and investor relations [6].