| 申万期货品种策略日报——股指 | 2025/9/23 星期二 | | | | --- | --- | --- | --- | | 申银万国期货研究所 贾婷婷（从业资格号：F3056905；交易咨询号：Z0016232 ）jiatt@sywgqh.com.cn;15921620356 | | | | | 申银万国期货研究所 柴玉荣 （从业资格号：F03111639；交易咨询号：Z0018586）chaiyr@sywgqh.com.cn;18802979529 | | | | | 一、股指期货市场 | | | | | IF当月 | IF下月 IF下季 | IF隔季 | | | 前两日收盘价 | 4510.00 4487.00 4464.40 | 4440.40 | | | 前日收盘价 | 4506.40 4493.40 4484.00 | 4459.00 | | | 沪深300 | 涨跌 -3.38 -1.60 13.60 | 12.40 | | | 涨跌幅 | -0.07 -0.04 0.30 | 0.28 | | | 成交量 | 33705.00 2045.00 65934.00 | 8437.00 | ...

Core Insights - The State Grid Corporation reported a fixed asset investment exceeding 270 billion yuan in the first half of 2025, marking an 11.7% year-on-year increase and the highest scale for the same period [1] - The market-oriented trading electricity volume reached 24,550 billion kilowatt-hours, a 5% increase year-on-year, accounting for 75.3% of the total trading electricity volume [1] - The newly connected capacity of wind and solar energy in the operational area reached 203 million kilowatts, representing a significant year-on-year growth of 108.7% [1] Investment and Infrastructure Development - Key projects such as the East Longdong to Shandong and Hami to Chongqing ultra-high voltage projects have been put into operation, along with the 750 kV transmission project from Shaanxi to Gansu [1] - All 140 key projects for peak summer power supply have been completed and put into operation, enhancing the energy resource allocation capability [1] - The fully operational pumped storage power stations in Qingyuan, Liaoning, and Ninghai, Zhejiang, contribute to improved energy management [1] Future Plans - The State Grid plans to orderly advance the construction of key projects including Jinshang to Hubei, Mengxi to Beijing-Tianjin-Hebei, and Southeast Tibet to Guangdong-Hong Kong-Macao Greater Bay Area ultra-high voltage projects [1] - The company aims to fully operationalize pumped storage power stations in Jurong, Jiangsu, and Jinyun, Zhejiang, to further tap into trading potential [1] - The focus will be on enhancing regional energy interconnection and optimizing energy resource allocation [1]