Core Viewpoint - The simultaneous river diversion of the Mengdigou and Yagen Hydropower Stations marks a significant milestone in the construction of large-scale hydropower projects in the Yalong River basin, facilitating the transition to the main construction phase of the projects [1][2]. Group 1: Project Details - The total installed capacity of the two hydropower stations is 2.7 million kilowatts, and this is the first time that large-scale hydropower projects in the Yalong River basin have achieved simultaneous river diversion [1]. - During the river diversion process, approximately 90,000 cubic meters of fill material were used, completed in less than 30 hours, which is crucial for subsequent excavation and concrete pouring [2]. Group 2: Environmental Impact - Once operational, the two hydropower stations are expected to save about 3.5 million tons of standard coal annually and reduce carbon dioxide emissions by approximately 9 million tons [4]. - The Mengdigou Hydropower Station will enhance grid capacity and support the development of wind and solar energy projects, potentially increasing its scale by 1.6 times [4]. Group 3: Strategic Importance - The timely river diversion and accelerated construction of the two hydropower stations will unlock the potential of the Yalong River as the first integrated water-wind-solar energy base in the country, enhancing the role of hydropower in peak load management within the power grid [7].

Core Insights - The article emphasizes the importance of accelerating the construction of a new energy system in China, focusing on increasing the share of renewable energy and ensuring a reliable transition from fossil fuels to a new power system [1][3]. Group 1: New Energy System Development - The "15th Five-Year Plan" aims to establish a new energy system with non-fossil energy as the main supply, supported by fossil energy as a backup, and a new power system as a key support [3][5]. - By 2025, the focus will be on implementing a new energy security strategy and enhancing the resilience of the power system [3][4]. Group 2: Achievements in Renewable Energy - During the "14th Five-Year Plan," China led the world in renewable energy scale, with wind and solar power installations exceeding 1.7 billion kilowatts, accounting for over 40% of global capacity [4][5]. - The renewable energy sector has contributed to a reduction of approximately 4.1 billion tons of carbon emissions globally, nearly one-tenth of the world's annual emissions [4][5]. Group 3: New Opportunities in the Energy Market - The establishment of national zero-carbon parks is expected to create new demands for distributed smart grids and carbon management platforms, requiring a 90% reduction in carbon intensity compared to current levels [2][7]. - The transition to a fully market-oriented renewable energy sector will compel companies to enhance their technological capabilities to compete effectively [2][5]. Group 4: Technological Innovations - Significant technological innovations include advancements in electric vehicles, lithium batteries, and photovoltaic products, as well as ultra-high voltage transmission technology [4][5]. - New business models such as integrated energy systems and green electricity supply are emerging, fundamentally changing the development patterns of the power grid [6][9]. Group 5: Zero-Carbon Park Standards - The core indicator for national zero-carbon parks is the carbon emissions per unit of energy consumed, with strict requirements for energy consumption and clean energy usage [7][8]. - The parks must primarily rely on green electricity, with a minimum of 50% of energy sourced from renewable sources [8][9].

Core Viewpoint - The sixth International Forum on New Power Systems and the 21st China Southern Power Grid International Technology Forum will be held from October 29 to 31 in Boao, Hainan, focusing on the theme of "Building a New Power System and Accelerating Energy Low-Carbon Transition" [1]. Group 1 - The forum aims to promote the synergy of digitalization and greening, facilitating the construction of new power systems and new energy systems [1]. - It will feature thematic discussions and keynote speeches from leaders of the National Energy Administration and the Hainan provincial government [1]. - The event will invite leaders and experts from major international organizations to participate in discussions and deliver keynote speeches [1]. Group 2 - Academics and experts will be deeply involved in academic discussions, including professors from key universities and research institutes dedicated to the construction of new power systems and new energy systems [1]. - The forum is designed to create a high-level academic exchange platform with an international perspective [1].

Core Viewpoint - The company, Keda Intelligent (300222.SZ), announced an investment of up to 350 million yuan in the development of a digital energy industry base, focusing on smart circuit breakers and smart ring network cabinets [1] Investment Details - The total investment for the project will not exceed 350 million yuan [1] - The project will be implemented by the company's wholly-owned subsidiary located in the High-tech Zone of Hefei City [1] - The construction period for the project is set for 5 years [1] Strategic Alignment - This investment aligns with the company's development strategy and aims to expand the sales scale of its digital energy business [1] - The investment is expected to enhance the company's profitability [1] Risks Identified - There are uncertainties related to land use rights acquisition [1] - Potential project implementation risks are noted [1] - There is a risk that operational performance may not meet expectations [1]

Core Insights - The article highlights the importance of new energy storage solutions in facilitating the green transition of the energy structure and ensuring the stability of the power grid [1][2] - The 100MW/400MWh compressed air energy storage project by Datang Zhongning is a significant development in this context, showcasing advancements in energy storage technology [1][2] Group 1: Project Overview - Datang Zhongning's compressed air energy storage project has a design efficiency exceeding 70%, with long storage duration, large capacity, and low unit cost, likened to a "super power bank" [1] - The underground gas storage facility is located 150 meters deep, using air as the storage medium, achieving zero carbon emissions and inherent safety [1] - Upon completion, the project is expected to generate an annual electricity output of 118 million kWh, sufficient to meet the annual electricity needs of nearly 100,000 households, and create tax revenue of approximately 45 million yuan [1] Group 2: Technological Advancements - The project faced challenges in selecting suitable sites for underground gas storage due to soft rock geological conditions, which were overcome through collaboration with top domestic research institutions [2] - The successful application of flexible sealing technology has significantly reduced the dependence of compressed air energy storage technology on geological conditions, marking a key breakthrough for the project [2] - This advancement not only lays a solid foundation for the project's implementation but also provides critical support for promoting compressed air energy storage technology in China's northern regions [2] Group 3: Future Developments - Based on the technical accumulation and practical experience from the Zhongning project, the company has completed a survey of potential energy storage sites across Ningxia, identifying four suitable locations for constructing 300MW-level compressed air energy storage projects [2] - The company has introduced an innovative model combining "green electricity direct supply + grid backup + surplus electricity online," successfully reducing the electricity price for data enterprises to 0.36 yuan per kWh [2] - This model not only bridges the collaboration gap between "source, grid, load, and storage" but also innovatively allocates energy resources, providing a replicable and scalable solution for new energy consumption and industrial upgrading [2]

Financial Performance - The company's revenue for the first three quarters of 2025 reached 837 million CNY, a year-on-year increase of 2.59% [1] - Net profit attributable to shareholders was 192 million CNY, up 21.31% year-on-year [1] - The gross profit margin for the first three quarters was 47.73%, an increase of 1.49 percentage points compared to the previous year [1] - The net profit margin improved to 22.96%, up 3.55 percentage points year-on-year [1] - Operating expenses for Q3 2025 were 224 million CNY, a decrease of 10.26 million CNY compared to the same period last year [1] Business Structure and Growth - EMS 2.0 and 3.0, along with virtual power plant platforms, are the core growth drivers, while traditional EMS 1.0 products have seen a decline [1] - Domestic business focuses on sectors like rail transportation and petrochemicals, showing clear growth; overseas business has also increased, particularly in Southeast Asia, Europe, and Brazil [1][2] - The company provides services in the data center sector, including power monitoring and energy management, with typical project sizes often exceeding one million CNY [2] Market Demand and Challenges - There is strong market demand for zero-carbon industrial parks, supported by national and local government policies [2] - The company is experiencing a transitional phase, with significant growth in targeted sectors, but traditional business declines are affecting overall revenue growth [2] - Some new business projects have longer cycles, which delays revenue recognition [2] Client Engagement and Strategy - Large client business, centered around EMS 3.0, is a significant focus, although the overall proportion of large clients has not been disclosed [2] - High repurchase rates from large clients can drive sales of hardware and systems, enhancing customer loyalty and enabling standardized solutions to be replicated across more clients [2]

南方电网公司将于10月29日至31日在海南博鳌举办第六届新型电力系统国际论坛暨第二十一届中国南方电网国际技术论坛。 论坛将以"共建新型电力系统，加快能源低碳转型"为主题，助力数字化、绿色化协同，促进新型电力系统和新型能源体系建设，全面 深化国内外新型电力系统交流合作。 论坛将组织新型电力系统各专业技术领域主题研讨、重磅演讲，邀请国家能源局相关领导、海南省政府相关领导参加论坛并发表致辞， 邀请大型国际组织的领导、专家作致辞、参与主题研讨活动、做主旨演讲等，邀请院士专家深度参与学术研讨活动，邀请联合研究院及 其他重点高校的教授学者参与论坛，邀请国内外致力于新型电力系统和新型能源体系建设的专业人士参会，打造具有国际视野的高水平 学术交流平台。敬请期待！ 来 源：南 网 5 0 H z E n d 欢 迎 分 享 给 你 的 朋 友！ 出品 | 中国能源报（c ne ne rgy） 推广 责编 | 李慧颖 ...

Core Viewpoint - The article emphasizes the significant advancements and future prospects of China's power grid, particularly focusing on the development of ultra-high voltage (UHV) technology and its role in supporting the country's energy transition and high-quality economic development [1][3][4]. Group 1: Achievements during the 14th Five-Year Plan - The length of UHV direct current lines increased from 28,000 kilometers to over 40,000 kilometers, while UHV alternating current lines grew from 14,000 kilometers to over 20,000 kilometers [3][5]. - The cross-regional UHV direct current channels delivered a 70% increase in clean energy transmission compared to the end of the 13th Five-Year Plan [5][6]. - The UHV projects have transformed from a "backbone network" to a "main artery," enhancing the capacity for cross-province and cross-region power transmission to 370 million kilowatts, a 30% increase from the end of the 13th Five-Year Plan [5][6]. Group 2: Role of UHV in Renewable Energy Development - UHV projects have played a crucial role in facilitating the development of renewable energy, with the first integrated wind-solar-fire storage export channel and the first new energy base export channel successfully operational [6][7]. - By 2024, the cross-regional UHV direct current transmission of clean energy is expected to reach approximately 4,200 billion kilowatt-hours, accounting for nearly 60% of total transmission [6][7]. - Significant breakthroughs in core UHV equipment have been achieved, enhancing the self-sufficiency of the entire UHV industry chain [6][7]. Group 3: Technological Innovations and Digital Transformation - The integration of advanced technologies such as artificial intelligence, big data, and digital twins is enhancing the safety and reliability of the power grid [8][15]. - The white crane pond to Jiangsu project is the first to adopt hybrid cascade transmission technology, effectively addressing safety pressures in densely connected areas [9][10]. - The upcoming projects, including the southeastern Tibet to Guangdong-Hong Kong-Macao Greater Bay Area project, will set multiple world records in terms of capacity and altitude, showcasing China's leadership in flexible direct current technology [9][10]. Group 4: Future Outlook for the 15th Five-Year Plan - The 15th Five-Year Plan is expected to accelerate UHV construction, focusing on the development of new energy bases and enhancing the management of UHV projects to ensure timely commissioning [14][15]. - The transition to a new power system dominated by renewable energy will require the power grid to adapt and innovate continuously [14][15]. - The integration of supply services will evolve, positioning power companies as "energy managers" and "green partners," providing diverse energy efficiency and carbon management services [15][16].

Core Viewpoint - The integration of artificial intelligence and digital technology with the power system is accelerating, becoming a key driver for the construction of a new power system, which is essential for the low-carbon transition and high-quality development of the energy sector [1][2]. Group 1: Digital Transformation in the Energy Sector - The "Artificial Intelligence + Energy" trend is becoming unstoppable, with digitalization and intelligence in the energy sector entering a new phase [1]. - The construction of a new power system is a critical component of building a new energy system, with digital technology serving as the core engine for the evolution of this new power system [1]. - The power industry has made significant achievements in integrating digital technology and artificial intelligence across the entire industry chain, enhancing the capabilities of the new power system [1]. Group 2: Data as a Key Element - Energy big data is a crucial element in the digital transformation of the power industry, encompassing the entire process of energy production, storage, transportation, and consumption [2]. - The State Grid Corporation has integrated 57 categories and 217.7 billion pieces of energy big data, establishing a two-tier energy big data center to promote data aggregation and provide analysis services [2]. Group 3: Technological Innovations and Market Adaptation - Companies are exploring how to leverage digital technology to address profitability challenges in the energy sector, particularly under the pressures of accelerated energy projects and market-oriented pricing reforms [3]. - The use of AI, weather data, and price forecasting is being employed to reconstruct investment return models, allowing for precise investment strategies in response to market fluctuations [3]. - Experts believe that with ongoing technological advancements and policy support, artificial intelligence will further integrate into the power industry, driving intelligent upgrades of the power grid [3].

Core Viewpoint - The forum focused on the construction and regulation of electricity markets in the context of energy transition, highlighting the opportunities and challenges faced by the electricity market globally [3]. Group 1: Electricity Market Construction - China's electricity market has achieved significant results after ten years of deep reform, establishing a multi-level unified market system covering inter-provincial, regional, and intra-provincial levels [3]. - The construction of a national unified electricity market should continue to strengthen international cooperation and rule mutual learning, while improving regulatory collaboration and efficiency [3]. Group 2: Regulatory Practices and Mechanisms - Experts shared insights on key areas of electricity market construction, including the development path and regulatory practices of China's unified electricity market, market mechanism design to promote energy transition, and risk prevention strategies under new power systems [3][4]. - The forum reached a consensus on various aspects such as market mechanisms, regulatory innovation, international experience, and corporate practices [4]. Group 3: Reports and Publications - The forum released and interpreted the "National Unified Electricity Market Development Planning Blue Book (English Version)" and the "2024 Annual Report on China's Electricity Market Development (English Version)," showcasing the progress and planning of China's electricity market [4].