Core Viewpoint - Haocreat Ruitong (301668.SZ) is experiencing steady revenue growth from 2022 to 2024, driven by its focus on smart distribution equipment and digital solutions for distribution networks [1][4]. Group 1: Financial Performance - The company's revenue is projected to grow from CNY 558.32 million in 2022 to CNY 862.62 million in 2024, with a compound annual growth rate (CAGR) of 24.47% [1][4]. - Net profit is expected to increase from CNY 68.76 million in 2022 to CNY 111.29 million in 2024, with a CAGR of 27.22% [4]. - For the first half of 2025, the company reported revenue of CNY 450.80 million, a year-on-year increase of 2.97%, and net profit of CNY 61.61 million, up 15.80% [4]. Group 2: Product and R&D Focus - Haocreat Ruitong specializes in smart distribution equipment, including smart ring network cabinets, smart pole switches, and box-type substations, with a strong emphasis on R&D and innovation [2][4]. - The company has increased its R&D investment from CNY 17.30 million in 2022 to CNY 32.33 million in 2024, achieving a CAGR of 36.69% [2]. - The company holds 132 patents and 30 software copyrights, with 15 invention patents, indicating a robust innovation pipeline [3]. Group 3: Market Position and Strategy - The company is recognized as a national-level "specialized and innovative" small giant enterprise and has a strong market position in the smart distribution equipment sector [2][4]. - Haocreat Ruitong aims to enhance its production capabilities and R&D strength through the planned use of raised funds for projects related to smart distribution equipment [5][6]. - The company is committed to becoming a leader in the smart distribution field, aligning with national strategies for carbon neutrality and smart grid development [7].

图为潞安化工集团煤基清洁能源公司厂区全景（无人机照片）。新华社发 能源保障和安全事关国计民生，能源低碳发展关乎人类未来。作为能源大省，山西肩负着保障能源供应和推动能源转型的双重使 命。 习近平总书记2022年1月在山西考察时强调，"要夯实国内能源生产基础，保障煤炭供应安全，统筹抓好煤炭清洁低碳发展、多元化 利用、综合储运这篇大文章"；今年7月在山西考察时指出，"着眼于高水平打造我国重要能源原材料基地，配套发展风电、光伏发电、氢 能等能源，构建新型能源体系"。 殷殷嘱托，催人奋进。山西在坚决扛牢国家电煤保供责任前提下，高起点谋划绿色低碳转型路径，努力构建具有山西特色的新型能 源体系。 作为我国重要的能源基地，山西以智能化建设、绿色化开采为突破口，通过完善相关标准、加强政策引导，全面提升煤炭供给质 量，截至8月底已建成298座智能化煤矿、55座绿色开采试点煤矿。不久前，能源资源领域煤炭方向的国家人工智能应用中试基地在山西 启动建设，进一步推动煤矿智能化升级。 稳稳端牢能源饭碗的同时，"推动煤炭产品由初级燃料向高价值产品攀升"是山西加快能源转型的一项重大使命。 走进潞安化工集团煤基清洁能源公司厂区，黑色煤炭先被气化 ...

Group 1 - The overall power equipment industry is maintaining a high level of prosperity, with multiple listed companies recently announcing winning bids from the State Grid Corporation of China [1][2] - Canaan Intelligent won a total of 6 bid packages with a combined bid amount of approximately 73.12 million yuan in the State Grid's procurement project [1] - A total of 14 listed companies have announced winning or pre-winning bids from the State Grid, with a combined bid amount of approximately 4.248 billion yuan [1][2] Group 2 - China West Electric announced that its 14 subsidiaries successfully entered the winning list for the State Grid's procurement, with a total bid amount of 1.641 billion yuan, accounting for 7.40% of its 2024 revenue [2] - Pinggao Electric reported a total bid amount of approximately 1.369 billion yuan, representing 11.04% of its 2024 revenue [2] - Other companies such as Youxun Da, Haixing Electric Power, and Linyang Energy also reported pre-winning bid amounts exceeding 100 million yuan, indicating a positive bidding trend in the industry [2] Group 3 - The investment amounts announced by the two major grid companies for 2025 are at record highs, with the State Grid expected to exceed 650 billion yuan and the Southern Grid planning 175 billion yuan in fixed asset investments [4] - The ongoing investment in key projects like UHV (Ultra High Voltage) is driving demand for core components such as cables, transformers, and insulation equipment [4] - The recent policies from the Ministry of Industry and Information Technology aim for a stable growth rate of around 6% for traditional power equipment revenue by 2026, with a focus on increasing the export of new energy equipment [5] Group 4 - The power equipment industry is expected to benefit from the implementation of the "Artificial Intelligence + Energy" initiative, which provides a clear roadmap for the intelligent transformation of the energy sector [5] - Despite facing complex external environments, the demand for the power equipment industry is expected to remain robust due to China's dual carbon goals and the requirements for a new power system [6]

文 | 中关村储能产业技术联盟 近日 ， 山东电工电气集团数字科技有限公司 完成入会流程，正式成为中关村储能产业 技术联盟会员单位。 公司简介 山东电工电气集团数字科技有限公司（以下简称"数字科技"）是山东电工电气集团全资子 公司，隶属于中国电气装备集团， 拥有丰富的科研资源、多元化的技术研发能力、完备的 人才团队。围绕"双碳"目标和"新型电力系统"建设需求，开展 数智电网、电力电子、工业 互联网 三大领域新兴业务产品研制、市场开拓及项目服务。打造"整体解决方案 + 管控平 台 + 核心装备"业务模式，积极为电网、工业企业、政府等大客户提供电力装备及整体解决 方案。截至目前已为全国2 7个省（自治区、直辖市）提供了3 0 0余项优质产品及服务。 业务介绍 公司面向大型储能电站、工商业/台区储能、户用储能、移动储能、液流储能等多场景，开 展电力电子、控制、仿真等关键研究，研制了PCS、EMS等核心产品，可为用户提供方案 设计、产品研制、智能运维等服务。 数字科技具备全生命周期管理的试验检测能力，配套 建设储能变流器测试区、功能性能实验室等试验检验区域，具备储能变流器等产品生产检验 能力。 03 电能质量治理-可 ...

实现2035年NDC新目标需多措并举，要构建以新能源为主体的新型电力系统，强化源网荷储协同与灵 活性资源(如储能)建设。 实现"双碳"目标，能源是主战场。9月24日，我国宣布了新一轮国家自主贡献(简称NDC)目标，明确提 出，到2035年，非化石能源消费占能源消费总量的比重达到30%以上，风电和太阳能发电总装机容量达 到2020年的6倍以上、力争达到36亿千瓦。 多位业内人士向21世纪经济报道记者表示，实现2035年NDC新目标需多措并举，要构建以新能源为主 体的新型电力系统，强化源网荷储协同与灵活性资源(如储能)建设；同时需深化市场机制改革，推动绿 电绿证交易与碳电市场协同，以合理溢价激励消费侧用能转型。此外，坚持核电、水电等清洁能源的多 元化发展策略，并在技术上攻关电网稳定与输送瓶颈，以确保巨量新能源的并网消纳与能源安全。2035 年非化石能源消费占比超30% 国家自主贡献(简称NDC)是《巴黎协定》中各国根据自身情况设定的减排目标，每五年更新一次以符合 全球气候目标。中国作为负责任的大国，始终积极履行承诺，持续推进NDC目标的制定与落实。 回顾我国提交NDC的历史，2015年、2020年两份NDC都于当 ...

Core Viewpoint - The forum focused on the role of coal power in supporting the development of a new power system, emphasizing its dual role in providing baseline security and flexible regulation [2][4][6]. Group 1: Forum Overview - The forum was co-hosted by the China Electricity Council's Thermal Power Branch and China Huaneng Group, held in Chongli, Hebei, on September 24 [2]. - The theme was "Leveraging the Flexible Regulation Role of Coal Power to Assist in the Construction of a New Power System" [2]. - Key discussions included coal power's role in ensuring stability and flexibility in the new power system, innovation paths for new coal power technologies, digital transformation practices, and low-carbon development [2]. Group 2: Key Insights from Leaders - Yu Chongde, Vice Chairman of the China Electricity Council, highlighted coal power as the "ballast" of China's energy system, crucial for energy security and renewable energy consumption [4]. - He emphasized the need for coal power to undergo efficient, flexible, low-carbon, and digital upgrades to align with the new power system [4]. - The China Electricity Council aims to support coal power technology innovation and industry transformation through standards, benchmarking, and research [4]. Group 3: Technical Innovations and Goals - Chen Jiang, Director of the Environmental Protection Department at China Huaneng Group, stated that transitioning coal power to a "basic security + system regulation" role is essential for achieving carbon neutrality goals [6]. - He outlined four key technological innovation directions: enhancing online monitoring technology, developing flexible peak-shaving technologies, implementing low-carbon technologies like CCUS and hydrogen blending, and advancing digital transformation through big data and digital twins [6]. - The forum featured insights from seven industry experts on efficient power generation technology, flexible regulation, and low-carbon technology exploration, leading to a multi-dimensional technical consensus [6]. Group 4: Impact and Participation - The successful forum established an efficient communication platform for the research, standardization, and application of new coal power technologies, driving the transformation of the coal power industry [7]. - Over 70 representatives from power companies, research institutions, and equipment manufacturers participated in the forum [7].

能源保障和安全事关国计民生，能源低碳发展关乎人类未来。作为能源大省，山西肩负着保障能 源供应和推动能源转型的双重使命。 习近平总书记2022年1月在山西考察时强调，"要夯实国内能源生产基础，保障煤炭供应安全，统 筹抓好煤炭清洁低碳发展、多元化利用、综合储运这篇大文章"；今年7月在山西考察时指出，"着 眼于高水平打造我国重要能源原材料基地，配套发展风电、光伏发电、氢能等能源，构建新型能 源体系"。 殷殷嘱托，催人奋进。山西在坚决扛牢国家电煤保供责任前提下，高起点谋划绿色低碳转型路 径，努力构建具有山西特色的新型能源体系。 今年以来，怀柔实验室山西研究院取得多项技术突破，攻克了循环流化床煤电机组快速调峰难 题，助力煤炭清洁低碳利用。该院还破解了低浓度瓦斯利用难题，为从煤矿中开发清洁能源拓宽 了技术途径。 包括怀柔实验室山西研究院在内，山西目前已建成国家级重大创新平台12家、省重点实验室173 家、省级技术创新中心133家、省市两级新型研发机构155家，能源领域创新平台加速布局。 "一块煤"如何实现价值攀升？ 在位于阳泉市的华阳新材料科技集团一矿调度中心，透过大屏幕，可以看到井下割煤机缓缓开 动，黑得透亮的煤块掉落 ...

期货日报网讯（记者 刘威魁）9月24日，由中国能源研究会主办，中国能源研究会能源金融与法律分会、北京万家绿色信用评级有限公司承 办，上海电力大学、上海电力大学能源电力发展战略研究中心协办的第二届国际能源可持续发展（ESG）论坛在崇礼举办。 国家能源局监管司综合处处长崔兴芳，美国能源部驻华代表处主任欧周凯（Kaitlin Oujo），中国能源研究会副理事长兼秘书长孙正运，上海 电力大学校长顾春华，中国电力企业联合会监事长潘跃龙，中国欧盟协会副会长宋敬武出席会议。 来自能源企业、知名高校、金融机构、科研单位的120多位专家和代表参加了本次会议。会议还得到了中国美国商会、中国欧盟商会、自然 资源保护协会的支持。中国能源研究会能源金融与法律分会主任委员陈景东主持会议。 宋敬武在致辞中指出，中国与欧盟，作为世界上两大重要经济体、两大文明的重要捍卫者、巴黎协定的重要参与者，对于人类未来有着相似 的愿景和共同的责任。在全球气候变化加剧、生物多样性丧失、环境日趋污染等严峻形势下，可持续发展已不再是选择题，而是必答题，是 人类未来可持续发展的必由之路，是中欧共同的责任与机遇。 潘跃龙在致辞中指出，"新型电力系统"与"可持续发展 ...

Market Overview - A-shares experienced slight fluctuations today, with technology growth stocks being relatively active, as the ChiNext Index and the Sci-Tech Innovation 50 both rose over 1%, reaching a three-and-a-half-year high [1] - The Shenzhen Component Index and CSI 300 also hit new highs, while the Shanghai Composite Index fluctuated around yesterday's closing level, with over 3,900 stocks declining and a total turnover of 2.39 trillion yuan [1] Sector Performance - Sectors such as new energy power, gaming, non-ferrous metals, and communication equipment saw significant gains, while precious metals, environmental protection equipment, professional chains, and ground military equipment experienced notable declines [1] Fund Flow Analysis - The computer industry attracted over 14.2 billion yuan in net inflow from major funds, while electric power equipment and communication sectors saw net inflows of over 9.4 billion yuan and 7.8 billion yuan, respectively [3] - Conversely, transportation faced a net outflow of over 2 billion yuan, with defense, real estate, and food and beverage sectors also experiencing net outflows exceeding 1 billion yuan [3] Market Outlook - Dongwu Securities noted that historical data suggests a style switch in the fourth quarter, with lower probabilities for previously leading sectors to continue their upward trend [3] - Investors are likely to take profits from previously strong sectors and shift towards defensive sectors to stabilize annual returns, with cyclical styles entering a trading window [3] - Pacific Securities indicated that market volatility is increasing as the holiday approaches, with a decline in the market's profit-making effect and overall risk appetite [3] New Energy Sector Insights - The new energy power sector showed collective strength, with the controllable nuclear fusion sector index reaching a historical high, and other power generation equipment indices surging over 4%, marking a ten-year high [3] - The wind power equipment sector also reached a two-and-a-half-year high, while photovoltaic equipment showed strong upward momentum [3] Industry Events - The "2025 New Power System Development Forum" was held in Hebei, focusing on the theme of "Green Development, Co-creating the Future," discussing innovative developments in new power systems [5] - The National Energy Administration emphasized the urgency of constructing a new power system, highlighting key actions outlined in the "Action Plan for Accelerating the Construction of a New Power System (2024-2027)" [5] Stock Performance - Companies such as Hanhua Huatong and Shanghai Electric saw significant stock price increases, with Shanghai Electric's trading volume exceeding 12 billion yuan [6] - However, some previously popular stocks experienced sharp declines, with Hangzhou Electric and others facing consecutive trading halts [7]

Core Insights - The completion of the Guo Wang Xin Yuan Zhejiang Jinyun Pumped Storage Power Station marks a significant milestone in China's pumped storage capacity, reaching a total installed capacity of 62.665 million kilowatts nationwide, surpassing the "14th Five-Year Plan" target for pumped storage development [1][2] Group 1: Project Overview - The Guo Wang Xin Yuan Jinyun Power Station is located in Jinyun County, Lishui City, Zhejiang Province, and is a key project under the National Energy Administration's "13th Five-Year Plan" [1] - The power station has a total installed capacity of 1.8 million kilowatts, featuring six reversible pump turbine generator units, each with a capacity of 300,000 kilowatts [1] - The design annual power generation capacity is 1.8 billion kilowatt-hours, with an annual water pumping capacity of 2.4 billion kilowatt-hours [1] Group 2: Operational Performance - Since the commissioning of the first unit in November 2024, the power station has shown stable operation and excellent performance in key indicators [2] - During the peak summer period, the station achieved a maximum daily power generation of 8 million kilowatt-hours and a water pumping consumption of nearly 10 million kilowatt-hours [2] - The power station provides approximately 3.6 million kilowatts of bidirectional power regulation capacity, alleviating peak load pressure in coastal areas and significantly enhancing the level of renewable energy consumption [2] Group 3: Environmental Impact - The operation of the power station is expected to save about 230,000 tons of standard coal annually and reduce carbon dioxide emissions by approximately 460,000 tons [2] - This contributes significantly to the optimization of the regional energy structure and supports the achievement of the "dual carbon" goals [2] Group 4: Industry Context - Currently, the State Grid Corporation operates and is constructing 75 pumped storage power stations, with an operational capacity of 43.955 million kilowatts, accounting for 70.14% of the national total [2]