Core Insights - Shenyang, once known as the "Republic's Eldest Son" and "Oriental Ruhr," is experiencing a transformation in its industrial landscape, leveraging new energy systems to revitalize traditional industries [1][2] - The integration of digital technologies and smart manufacturing is becoming essential for large factories, with a focus on stable power supply to ensure product quality [3][4] - The shift towards renewable energy is evident, with companies like Northern Heavy Industries Group becoming self-sufficient in clean energy and contributing excess power to the grid [6][7] - Shenyang is also advancing in future industries such as new materials, biomedical, artificial intelligence, and new energy storage, with significant projects underway [8] Group 1: Industrial Transformation - Shenyang's industrial electricity consumption remains significant, with industrial usage accounting for nearly 40% of total electricity in early 2025 [1] - The Shengu Group, a key player in the region, is utilizing a digital factory model supported by a health management platform for equipment [2] - The reliance on digital management systems like MES, EAM, and QMS is critical for maintaining production quality in automated environments [3] Group 2: Energy Management and Sustainability - The State Grid Shenyang Power Supply Company is implementing a 5G smart distribution network that can autonomously detect and respond to power supply issues within 75 seconds [4] - Northern Heavy Industries has installed solar panels that generate over 25 million kilowatt-hours annually, significantly reducing carbon emissions [7] - The collaboration between the power supply company and local government aims to enhance energy efficiency and promote renewable energy integration among large industrial users [6][7] Group 3: Future Industry Development - Shenyang is making strides in smart connected vehicles, with a project that integrates intelligent sensing devices for autonomous driving applications [8] - The construction of a high-tech cable tunnel demonstrates the city's commitment to modernizing its power supply infrastructure, ensuring reliable electricity for emerging industries [8][9] - Innovative maintenance practices, including the use of drones for inspections, are being explored to enhance operational efficiency in power supply management [9]

近日，国网山西临汾供电公司顺利完成220千伏紫金山变电站为期6天的综合检修任务。通过主变压器在线监测装置升级、 一键顺控智能化改造及全电压等级设备维护消缺等一系列工作，全面提升区域电网安全运行水平，为山西晋南地区电力可靠供 应注入强劲动能。 为保障检修工作安全高效开展，国网临汾供电公司统筹调配各部门技术力量，组建了由变电检修、高压试验、继电保护、 变电运维等专业骨干组成的攻坚团队。团队先后开展5次方案推演，制定26项风险预控措施。检修期间，工作人员克服倒闸操 作复杂、交叉作业多等重重困难，严格遵循"一板一眼、一丝不苟、严精细实、专业专注"的工作标准，高质量完成48台高压设 备150余项试验项目和53项继电保护装置试验，实现零差错、零失误。 此次综合检修显著提升了220千伏紫金山变电站设备健康水平，为服务山西南部能源基地建设、助力电网迎峰度夏筑牢坚 实基础。下一步，国网山西电力将持续深化设备精益化管理，加快智能运检技术推广应用，全力构建更加安全、稳定、高效的 新型电力系统。 【责任编辑：刘澄谚 】 220千伏紫金山变电站是连接晋南地区电力输送的关键枢纽，承担着区域电力调配与负荷支撑的重要职责。此次检修工作 围绕 ...

Group 1 - The core viewpoint of the news highlights the significant growth of renewable energy capacity in Jiuquan, with the total installed capacity exceeding 40 million kilowatts, of which over 80% is from renewable sources [2][3] - Jiuquan is recognized as a key area for renewable energy development in China, benefiting from abundant wind and solar resources, and has transformed from a resource-rich city to a strong energy city [3][11] - The Jiuquan Power Supply Company is actively promoting the development of renewable energy projects and enhancing the integration of renewable energy with the power system, aiming for high-quality growth in the renewable energy industry [5][6] Group 2 - Since the 14th Five-Year Plan, Jiuquan has issued indicators for three batches of national large-scale renewable energy projects, with a total installed capacity of 13.8 million kilowatts [7] - The company is collaborating with local governments and renewable energy enterprises to ensure safe grid access for renewable energy and is focused on building a new type of power system [7][9] - Jiuquan is leveraging its resource advantages to foster a cluster of renewable energy equipment manufacturing, with the industrial output value expected to exceed 23 billion yuan by 2024 [11][13] Group 3 - The establishment of the first "source-grid-load-storage" innovation consortium in Jiuquan aims to enhance the development of renewable energy and storage systems [13] - The company is exploring various integration models for renewable energy and storage, while also working on projects to improve the reliability of power supply in the region [13] - Jiuquan is positioned as a crucial hub for renewable energy and equipment manufacturing, contributing to national goals of carbon peak and carbon neutrality [10][14]

Core Viewpoint - Keda Intelligent Technology Co., Ltd. has appointed a new executive team, emphasizing a younger management structure and a strong focus on research and development innovation [2][3][6]. Group 1: Executive Changes - The board of Keda Intelligent has appointed Wang Tingting as the new president, along with Liu Wei, Zhang Jiyong, and Qin Minghui as vice presidents, and Huang Junwei as the financial director [3]. - The new executive team is predominantly composed of individuals born in the 1980s, indicating a trend towards a younger management team [3][4]. - Wang Tingting, born in January 1985, previously held positions as the marketing manager and supervisor at Keda Intelligent, and currently holds 83,100 shares, representing 0.01% of the total shares [3]. Group 2: Focus on Research and Development - Among the newly appointed vice presidents, two have extensive experience in research and development, highlighting the company's commitment to innovation [3][4]. - Liu Wei has held significant roles in various technology companies and is currently the head of the research institute at Keda Intelligent [4]. - Qin Minghui has a strong background in smart grid technology and has contributed to multiple national standards and patents, showcasing the company's technical capabilities [4]. Group 3: Business Focus and Market Position - Keda Intelligent is a comprehensive solution provider in the digital energy sector, focusing on smart power distribution and energy storage systems [5][6]. - In 2024, Keda Intelligent achieved a revenue of 2.739 billion yuan, with the digital energy business generating 2.101 billion yuan, accounting for 76.71% of total revenue [5]. - The company is actively exploring new applications in the energy sector, including commercial energy storage and distributed photovoltaic management, forming a complete industrial chain layout [5][6]. Group 4: Industry Trends and Opportunities - The digital energy sector is experiencing rapid growth, driven by national policies and the urgent need for digital and intelligent transformation in the power distribution field [6][7]. - The transition to a new power system, primarily based on renewable energy, is expected to provide a solid policy foundation and support for the digital energy industry [7]. - Significant investments are anticipated in the coming years, with state-owned enterprises expected to allocate over 3 trillion yuan for equipment upgrades, indicating a robust market opportunity [6][7].

面对并网任务紧、施工难度大的挑战，该公司深化"党建+基建"协同机制，党员先锋队扎根现场强化全过程管控。安 全方面推行"全员责任清单"，管理人员与施工班组同步开展隐患排查，通过规范作业流程、细化风险预控卡，严控高空作 业、带电区域等关键环节风险。每日通过现场巡查、班前交底、收工总结，动态梳理薄弱环节并落实整改闭环。施工组 织上建立分层分级负责制，优化多专业交叉施工衔接，对复杂工序提前组织模拟推演，同步加强质量监督与工艺标准化 培训，确保各环节衔接紧密、安全可控。通过强化现场协调与资源统筹，既保障了建设进度，又实现了安全零事故目 标。 "35千伏丰西线334断路器现场已由热备转运行。"5月26日，随着太行黎明共产党员服务队队员范国宏与青年突击队成 员管刘军在35千伏西辛店变电站完成最后操作指令，侯马市首座35千伏集中式光伏电站——丰润达新能源项目正式并网 投运。这标志着侯马市在构建新型电力系统、推动能源结构转型方面取得重大突破。 国网侯马市供电公司以构建新型电力系统为核心抓手，将新能源并网作为推动能源结构优化与区域经济绿色发展的战 略支点。丰润达光伏项目作为侯马市首个35千伏集中式新能源工程，不仅是贯彻新发展理念 ...

Group 1: Business Performance - The company's oil-saving business revenue decreased by 12.71% in 2024, primarily due to stable demand for plasma ignition projects [2] - The environmental protection business declined significantly, influenced by low industry demand and limited investment capacity for environmental upgrades [2] Group 2: Policy Impact - The implementation of the "New Generation Coal Power Upgrade Special Action Implementation Plan" will affect coal power energy-saving renovations, promoting carbon reduction and flexibility improvements [3] - The plan encourages the expansion of coal power energy-saving renovations into smart and digital fields, providing broader business development opportunities for service providers [3] Group 3: Project Updates - The main revenue from the ammonia-mixed combustion business in 2024 came from the 600MW coal-fired boiler project at Guoneng Taishan Power Plant, which achieved partial acceptance [4] - The ammonia-mixed combustion technology is still in the research and engineering verification stage, requiring further optimization in technology, fuel costs, carbon reduction benefits, and national policies [5] Group 4: Growth Factors - The rapid growth of comprehensive energy-saving renovations is driven by the company's strategic alignment with the national goal of building a new power system and active involvement in energy-saving and flexibility renovation projects [6] - The company has implemented China's first large-capacity steam heating molten salt energy storage project, enhancing its position in new energy storage technologies [6] Group 5: Biomass Business - The biomass business is part of the company's strategy under the "dual carbon" goal, focusing on various technical applications, including straw and vine biomass production and co-firing [7]

中新网南宁5月27日电 (陆冬琦 陈伯鑫 罗欢 敬敏)5月26日晚，广西首座抽水蓄能电站配套工程——南宁 抽水蓄能电站500千伏送出线路工程顺利投产，助力广西加快构建新型电力系统与新型能源体系，为经 济发展提供更加可靠、清洁的能源支撑。 南宁抽水蓄能电站总装机容量120万千瓦，2022年主体工程全面开工，目前上库大坝已完成封顶，下库 已下闸蓄水，预计2025年底全面建成投产发电。 南方电网广西电网公司电力调度控制中心高级经理孙艳表示，抽水蓄能是电力系统的"巨型充电宝"，在 保障电力供应、电网安全、促进新能源消纳等方面，发挥着不可替代的"调节器、稳定器、启动器"等多 重作用，已经成为构建新型电力系统、建设新型能源体系的关键支撑。随着双碳目标推进，新能源占比 不断提升，抽水蓄能的重要性还将进一步凸显。 据统计，今年1—4月，广西新能源新增装机容量445.8万千瓦，占全部新增装机容量的81.2%。当前，广 西抽水蓄能产业进入新发展阶段，在建抽水蓄能电站分布在钦州、南宁、贵港、玉林、桂林、百色、来 宾七地。(完) 图为南宁 抽水蓄能电站500千伏送出线路工程现场。马华斌 摄 据介绍，作为广西首座抽水蓄能电站电能输送的 ...

Financial Performance - The company's overall loss has expanded by 23% compared to the previous year, primarily due to non-recurring losses totaling -15.99 million yuan, with financial instrument losses amounting to -29.92 million yuan attributed to impairment of equity investments [2][4] - Regular profit losses have narrowed by 43% compared to the previous year [2][4] Future Growth Drivers - Future profit growth will be driven by expanding product sales, particularly in the renewable energy sector, shifting focus from building electric vehicle charging stations to selling charging equipment [3][4] - The company has developed a megawatt-level flexible charging pile that has passed CE and UL certifications, facilitating expansion into overseas markets, especially the U.S. [3][4] Industry Context - The company operates in a favorable environment with the rise of renewable energy and the acceleration of digital transformation in the power grid, creating new growth points and significant market demand [4][5] - Despite recent poor performance, the company has been investing heavily since 2021 in charging infrastructure, leading to its first operational loss and four consecutive years of losses [4][5] Market Outlook - The current phase of China's power system development presents broad opportunities for the power equipment industry, driven by increased investment in infrastructure and energy structure optimization [5] - The market for electric vehicle charging infrastructure is expected to grow significantly, with the penetration rate of new energy vehicles reaching 51.5% by April 2025, marking a transition to a predominantly electric phase [5]

Group 1 - The first 500 kV substation expansion project in Jiangsu province, Shuyang, has been put into operation, marking a significant step in ensuring stable power supply and renewable energy consumption in the region this summer [1] - In the first four months of the year, the total electricity consumption in Jiangsu reached 264.1 billion kWh, reflecting a year-on-year growth of 2.2% [1] - The company has planned and is rapidly advancing 13 major grid and 1,415 distribution network projects to enhance power supply capacity for the summer [1] Group 2 - Fixed asset investment exceeded 8 billion yuan in the first four months, setting a historical record for the same period, and is expected to drive over 20 billion yuan in upstream and downstream industry chain investments [2] - Four additional 500 kV substation expansion projects are expected to be operational by the end of June, further upgrading the backbone supply network in Jiangsu [2] - The company aims to accelerate the construction of a new power system while enhancing the grid's capacity to integrate large coal power units and improve renewable energy consumption across regions [2]

Core Viewpoint - The company Sifang Co., Ltd. is experiencing steady growth in its main business, with potential incremental growth from overseas expansion and data center services, leading to a "buy" rating from Tianfeng Securities [1]. Financial Performance - In 2024, the company achieved a total revenue of 6.951 billion yuan, representing a year-over-year increase of 20.86%, with a net profit of 716 million yuan, up 14.09% year-over-year [2]. - For Q1 2025, the company reported revenue of 1.828 billion yuan, a year-over-year increase of 18.34%, and a net profit of 241 million yuan, up 33.38% year-over-year [2]. Business Segmentation - **Grid Automation**: In 2024, revenue reached 3.309 billion yuan, with a year-over-year growth of 13.18% and a gross margin of 41.54% [3]. - **Power Plant and Industrial Automation**: In 2024, revenue was 3.122 billion yuan, reflecting a year-over-year increase of 25.35%, with a gross margin of 25.48% [4]. Growth Outlook - The company plans to expand its main business by targeting industry users and regional distribution markets, focusing on high-quality development in new energy and storage [5]. - **Overseas Expansion**: The company aims to strengthen its presence in Southeast Asia and Africa, enhancing local market capabilities and expanding product offerings [5]. - **Data Center Services**: The company continues to provide core telecommunications equipment for major domestic data center projects, integrating advanced protective equipment and innovative green computing solutions [5]. Profit Forecast - Based on the company's performance in 2024 and Q1 2025, revenue forecasts for 2025-2027 have been adjusted to 8.22 billion, 9.43 billion, and 10.75 billion yuan, respectively, with net profit forecasts of 860 million, 990 million, and 1.15 billion yuan [6].