证券代码：601669 股票简称：中国电建 公告编号：临 2025-034 中国电力建设股份有限公司 2025 年 1 月至 5 月主要经营情况公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 现将中国电力建设股份有限公司2025年1月至5月主要经营情况公布如下，供投 资者参阅。 一、按业务类型统计 | 业务类型 | 新签项目数量（个） | 新签合同金额 | 同比增减 | | --- | --- | --- | --- | | 能源电力 | 2408 | 3012.48 | 4.44% | | 水电 | 488 | 653.87 | 60.66% | | 其中：抽水蓄能 | 238 | 256.51 | 4.63% | | 风电 | 531 | 1018.01 | 67.33% | | 太阳能发电 | 482 | 854.81 | -32.61% | | 火电 | 224 | 146.99 | -62.28% | | 新型储能 | 65 | 107.50 | / | | 其他 | 618 | 231.30 | / | | ...

Investment Rating - The report suggests a "Focus" on the company, indicating potential investment interest due to its strategic position in the insulation materials market [3][4]. Core Viewpoints - The company, Guangxin Technology, is recognized as a national-level "Little Giant" in the field of insulation fiber materials, with a projected compound annual growth rate (CAGR) of 146% for net profit from 2021 to 2024 [14][24]. - The company plans to raise funds through an initial public offering (IPO) to invest in projects aimed at expanding its production capacity and enhancing research and development capabilities [11][12]. - The insulation materials market in China is expected to grow, with a projected market size of approximately 130.5 billion yuan in 2024, reflecting an 8.2% year-on-year increase [3][24]. Summary by Sections Initial Issuance - The company plans to issue 20 million shares at a price of 10 yuan per share, with an initial price-to-earnings (P/E) ratio of 7.61X [2][6]. - The total number of shares after issuance will be approximately 88.46 million, with the issuance accounting for 22.61% of the total shares before the exercise of the over-allotment option [2][6]. Business Overview - Guangxin Technology specializes in insulation fiber materials and related products, primarily used in various voltage level power transmission and transformation equipment [14][15]. - The company has developed a comprehensive product system that meets diverse customer needs in terms of thickness, shape, and electrical performance [15][19]. Financial Performance - In 2024, the company expects to achieve revenues of 578 million yuan, with a net profit of approximately 116.17 million yuan, reflecting year-on-year growth rates of 37.49% and 135.14%, respectively [7][24]. - The gross profit margin for insulation fiber materials is projected to reach over 30% in 2024, indicating improved profitability [15][25]. Market Dynamics - The domestic insulation materials market is experiencing steady growth, driven by increased demand in the power industry, with significant investments projected in power generation and grid infrastructure [3][24]. - The company has established a strong customer base, with major clients including TBEA Co., Ltd. and Shandong Taikai Transformer Co., Ltd., contributing to a stable revenue stream [32][34]. Competitive Position - Guangxin Technology has a competitive edge due to its proprietary technologies, having broken foreign monopolies in the ultra-high voltage insulation fiber materials sector [14][36]. - The company holds 67 valid patents, including 13 invention patents, underscoring its commitment to innovation and technological advancement [36].

Core Viewpoint - The global energy storage market is experiencing explosive growth driven by the "dual carbon" goals, with significant advancements in new energy storage projects in China, particularly in Ningxia, which is becoming a benchmark for green hydrogen and energy storage development [3][4][6]. Group 1: Market Overview - By the end of 2024, China's newly built energy storage projects will have a cumulative installed capacity of 73.76 million kilowatts, approximately 20 times that of the end of the 13th Five-Year Plan, with a growth of over 130% compared to the end of 2023 [3]. - At least 11 provinces and municipalities have included new energy storage in their carbon peak plans, with various development plans and guidelines being issued [3]. Group 2: Regional Characteristics - China's energy storage market shows distinct regional characteristics, with the eastern coastal areas focusing on commercial storage and virtual power plants, while the northwest relies on wind and solar resources to create integrated "wind-solar-hydrogen" bases [4][6]. Group 3: Ningxia's Achievements - In 2024, Ningxia added 20 new energy storage stations, bringing the total to 47, with an installed capacity of 4.719 million kilowatts, ranking fifth in the country [7]. - Ningxia's solar energy resources rank third nationally, and its wind power potential exceeds 120 million kilowatts, making it a natural hub for green hydrogen production [7]. Group 4: Policy Innovations - Since 2021, Ningxia has implemented multiple policies to promote the energy storage industry, including the "Hydrogen Energy Industry Development Plan," which emphasizes the integration of hydrogen storage with renewable energy consumption and grid peak regulation [7][11]. Group 5: New Hydrogen Power - New Hydrogen Power Technology Co., Ltd. focuses on solid-state metal hydrogen storage systems and has established a subsidiary in Ningxia to develop large-scale safe solid-state hydrogen storage systems [15][16]. - The company plans to invest 350 million yuan in a production base for solid-state hydrogen storage systems and fuel cell systems in the SuYin Industrial Park [16]. Group 6: Upcoming Events - The 2025 TrendBank (Yinchuan) Long-Duration Energy Storage Industry Conference will be held on July 2-3, 2025, focusing on cutting-edge technologies such as flow batteries and hydrogen storage [22][25].

Core Viewpoint - The establishment of the Hohhot Disruptive Technology Special Fund aims to promote the transformation of cutting-edge disruptive technology achievements and foster new productive forces in the region [1] Fund Overview - The total scale of the fund is 200 million yuan, with an initial fundraising of 50 million yuan [1] - The fund is initiated by the Beijing-Tianjin-Hebei National Technology Innovation Center and the Hohhot Science and Technology Bureau [1] Investment Focus - The fund will focus on key future industry sectors such as artificial intelligence, new energy storage, computing chips, and cell and gene therapy [1] - It aims to create a comprehensive ecosystem involving "platform + fund + park + industry" to effectively promote technological innovation and industrial upgrading in Hohhot [1] Economic Impact - The fund is expected to support high-quality regional economic development by establishing a sustainable growth mechanism for future industry investments [1] - It will actively promote a virtuous cycle of "technology research and development - scenario application - future industry" to invigorate technological innovation in Hohhot [1]

Core Viewpoint - The implementation of a compensation standard for new energy storage capacity in Inner Mongolia is expected to enhance the scale of local energy storage projects and foster innovation in storage technology [1]. Group 1: Compensation Standards - The compensation standard for projects completed and put into operation by 2025 is set at 0.35 RMB per kilowatt-hour [1]. - The compensation standard will be announced annually by September 30 for the following year, with a total execution period of 10 years [1]. Group 2: Policy Impact - The Inner Mongolia Energy Bureau's new compensation policy is anticipated to drive the growth of new energy storage plants in the region [1]. - In May, Inner Mongolia Power Group and State Grid Inner Mongolia East Power Company paid nearly 100 million RMB in compensation for the discharge volume of eligible independent new energy storage plants [1]. Group 3: Market Growth - In the first quarter, Inner Mongolia utilized 630 million kWh of discharge electricity, with an average price difference of 0.35 RMB/kWh for the Bailige power station [1]. - By 2025, Inner Mongolia plans to start construction on 10 GW of new energy storage and put into operation 6 GW, with cumulative installed capacity reaching 10.32 GW, ranking first in the country [1].

Core Points - The 25th China Patent Award has been announced, with 30 patents winning the Gold Award and 10 designs winning the Gold Award for Appearance Design [1] - Guangdong Province leads with 11 Gold Awards, with several listed companies such as Nanfang Technology, Jiayuan Technology, and Guangfeng Technology among the winners [1] - The China Patent Award is the highest honor in the field of intellectual property in China, with a total of 30 Gold Awards, 60 Silver Awards, and 607 Excellent Awards for patents, as well as 10 Gold Awards, 15 Silver Awards, and 47 Excellent Awards for design [1] Company Highlights - Nanfang Technology's core patent, "A Wire Tracking Method and Device Based on Non-Vector Space Control Strategy," won a Gold Award and is applied in various devices, leading the domestic market in the field of power unmanned inspection [2] - Nanfang Technology holds a total of 536 authorized patents, including 394 invention patents, focusing on new energy storage, artificial intelligence, and smart power distribution technologies [2] - Chipsea Technology's award-winning patent addresses key technical challenges in achieving high precision and low power consumption in signal measurement, with applications in industrial automation and electric vehicle charging systems [2]

Core Viewpoint - Lanzhou Lanshi Heavy Equipment Co., Ltd. is seizing market opportunities and continuously promoting transformation and upgrading in the context of global energy structure transition and carbon neutrality goals, focusing on the development of new energy industries such as nuclear energy, hydrogen energy, solar thermal, energy storage, and high-temperature alloy new materials [1][2]. Group 1 - The company recently received a bid notification from China Power Construction Corporation for the "China Power Construction (Feicheng) 2×300MW (Phase I) Salt Cavern Compressed Air Energy Storage Power Station" project, with a winning bid of 99.96 million yuan [1]. - The project utilizes the first domestic set of advanced energy storage methods based on a new generation of energy storage concepts, achieving high system energy storage and power generation efficiency, with equipment utilization rates exceeding conventional energy storage systems [1]. - Upon completion, the project will serve as a key engine for the local development of a "storage city" with a capacity of tens of millions of kilowatts, promoting the leapfrog development of new energy storage technology industrialization [1]. Group 2 - This project represents the company's largest single order in the field of compressed air energy storage, following its achievements in molten salt storage, wave energy power storage, and ammonia-hydrogen coupling storage [2]. - The company plans to leverage its advantages in high-end energy equipment research and manufacturing to enhance technological innovation and industrial collaboration, providing comprehensive solutions for the high-quality development of the energy storage industry [2].

Core Viewpoint - The energy storage industry is experiencing unprecedented development opportunities due to the acceleration of global energy transition and the advancement of "dual carbon" goals [1] Group 1: Industry Development - The "Chain on Pingshan, Gathering Strength in Shijing" new energy storage supply and demand matchmaking meeting was successfully held, gathering 12 upstream and downstream enterprises in the energy storage industry [1][2] - The meeting aimed to build an efficient docking platform to promote deep cooperation among enterprises and support the high-quality development of the new energy industry cluster in Pingshan [1][2] Group 2: Government and Enterprise Collaboration - Shijing Street has become an important area for the development of the energy storage industry, attracting high-growth enterprises such as Hongtongyu, Huaxing New Energy, and Hongyi Battery [2] - The Pingshan District Industrial and Information Bureau emphasized the importance of market expansion projects to deepen the integration and collaboration of the industrial chain [2] - The local government is committed to creating a first-class business environment and plans to hold quarterly industrial chain matchmaking events to facilitate ongoing collaboration [3][4] Group 3: Innovations and Achievements - The event featured face-to-face presentations from participating companies, showcasing innovations such as lightweight, long-life automotive batteries from Hongyi Battery and new battery pack materials from Ximengte [2] - Initial cooperation intentions were established between several companies, with an estimated impact of over 10 million yuan in industrial collaboration [3] Group 4: Future Directions - Shijing Street is advancing the construction of the High-tech South Startup Zone, focusing on addressing spatial constraints, technical bottlenecks, and service shortcomings in the energy storage industry [4] - The street aims to explore new models for collaborative development of the industrial chain and promote the transformation of manufacturing towards high-end, intelligent, and green directions [4]

Core Insights - Yunnan Province's new energy storage capacity has surpassed 4 million kilowatts, reaching 4.655 million kilowatts [1] - The centralized shared energy storage accounts for 4.355 million kilowatts, representing approximately 93.5% of the total new energy storage capacity [1] Group 1 - Yunnan's new energy storage plants have been rapidly commissioned recently [1] - The total installed capacity of new energy storage in Yunnan has significantly increased [1] - The majority of the new energy storage capacity is centralized shared storage [1]

中绿电（000537）公告，2025年5月30日，内蒙古自治区能源局下发了《内蒙古自治区能源局关于印发 2025年第一批独立新型储能建设项目清单的通知》，公司申报的"乌海市20万千瓦/80万千瓦时固态电池 储能电站"被纳入2025年第一批独立新型储能建设项目清单。同日，公司全资子公司中绿电(若羌)储能 科技有限公司收到新疆维吾尔自治区巴音郭楞州蒙古自治州发展和改革委员会出具的《新疆维吾尔自治 区投资项目备案证》，同意其申报的"中绿电若羌50万千瓦/200万千瓦时储能项目"备案。 ...