长安鑫富领先混合A（001657）基金经理为李坤。 截至发稿，李坤累计任职时间309天，现任基金资产总规模28.17亿元，任职期间最佳基金回报6.34%， 任职期间最差基金回报-0.43%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 10月10日，明阳电气涨5.34%，截至发稿，报50.33元/股，成交3.86亿元，换手率4.89%，总市值157.13 亿元。 资料显示，广东明阳电气股份有限公司位于广东省中山市南朗镇横门兴业西路6号，成立日期2015年11 月27日，上市日期2023年6月30日，公司主营业务涉及应用于新能源、新型基础设施等领域的输配电及 控制设备的研发、生产和销售。主营业务收入构成为：箱式变电站53.70%，变压器16.36%，成套开关 柜14.76%，其他13.51%，其他(补充)1.66%。 从基金十大重仓股角度 数据显示，长安基金旗下1只基金重仓明阳电气。长安鑫富领先混合A（001657）二季度持有股数700 股，占基金净值比例为0.43%， ...

人民日报记者 丁怡婷 用电量是经济运行的"晴雨表""风向标"。国家能源局数据显示，8月全社会用电量10154亿千瓦时， 同比增长5.0%。这是继今年7月用电量首次突破万亿千瓦时之后，再度破万亿，在全球也属首次。 "1万亿千瓦时"，相当于由乌东德、白鹤滩、三峡等6座梯级水电站构成的世界最大清洁能源走廊全 年发电量的3倍多，也约是我国2015年7月用电量的2倍。 中国电力企业联合会统计与数智部副主任蒋德斌认为，月度用电量连续两月突破万亿千瓦时的背 后，有今夏高温高湿天气来得早持续久，带动居民用电快速增长的拉动，也显示出新质生产力蓬勃发 展，正形成新的经济增长点，推动用电量向上攀升。 生产端：制造业向"新"向"绿"转型成效持续显现 四川成都一家半导体生产企业，全自动生产线满负荷运转。前不久，企业总投资15亿元的扩产项目 投运。"订单量和各项交付指标数据创新高，国庆、中秋假期我们也开足马力赶订单。"企业负责人介 绍，前三季度用电量预计同比增长约50%。 在领克汽车浙江宁波余姚工厂，机械臂仅70秒便可拧紧车底盘的螺丝。"生产线前段时间刚完成智 能化升级，装配效率比之前更高了。"工厂电气技术主管工程师张辉介绍，8月工厂日 ...

我国月度用电量连续突破万亿千瓦时，为全球首次—— 两个万亿度，折射经济增长新动能(经济新方位) 用电量是经济运行的"晴雨表""风向标"。国家能源局数据显示，8月全社会用电量10154亿千瓦时，同比 增长5.0%。这是继今年7月用电量首次突破万亿千瓦时之后，再度破万亿，在全球也属首次。 "1万亿千瓦时"，相当于由乌东德、白鹤滩、三峡等6座梯级水电站构成的世界最大清洁能源走廊全年发 电量的3倍多，也约是我国2015年7月用电量的2倍。 中国电力企业联合会统计与数智部副主任蒋德斌认为，月度用电量连续两月突破万亿千瓦时的背后，有 今夏高温高湿天气来得早持续久，带动居民用电快速增长的拉动，也显示出新质生产力蓬勃发展，正形 成新的经济增长点，推动用电量向上攀升。 生产端：制造业向"新"向"绿"转型成效持续显现 四川成都一家半导体生产企业，全自动生产线满负荷运转。前不久，企业总投资15亿元的扩产项目投 运。"订单量和各项交付指标数据创新高，国庆、中秋假期我们也开足马力赶订单。"企业负责人介绍， 前三季度用电量预计同比增长约50%。 在领克汽车浙江宁波余姚工厂，机械臂仅70秒便可拧紧车底盘的螺丝。"生产线前段时间刚完成智能化 ...

用电量是经济运行的"晴雨表""风向标"。国家能源局数据显示，8月全社会用电量10154亿千瓦时，同比 增长5.0%。这是继今年7月用电量首次突破万亿千瓦时之后，再度破万亿，在全球也属首次。 "1万亿千瓦时"，相当于由乌东德、白鹤滩、三峡等6座梯级水电站构成的世界最大清洁能源走廊全年发 电量的3倍多，也约是我国2015年7月用电量的2倍。 中国电力企业联合会统计与数智部副主任蒋德斌认为，月度用电量连续两月突破万亿千瓦时的背后，有 今夏高温高湿天气来得早持续久，带动居民用电快速增长的拉动，也显示出新质生产力蓬勃发展，正形 成新的经济增长点，推动用电量向上攀升。 生产端：制造业向"新"向"绿"转型成效持续显现 在领克汽车浙江宁波余姚工厂，机械臂仅70秒便可拧紧车底盘的螺丝。"生产线前段时间刚完成智能化 升级，装配效率比之前更高了。"工厂电气技术主管工程师张辉介绍，8月工厂日出厂整车超400辆，订 单量超过原年度排产计划。供电部门数据显示，宁波汽车制造业8月用电量同比增长7%。 8月，我国工业生产保持较快增长，其中规模以上高技术制造业增加值同比增长9.3%，对全部规上工业 增长的贡献率为28.5%，带动相关行业用电量 ...

"1万亿千瓦时"，相当于由乌东德、白鹤滩、三峡等6座梯级水电站构成的世界最大清洁能源走廊全年发 电量的3倍多，也约是我国2015年7月用电量的2倍。 中国电力企业联合会统计与数智部副主任蒋德斌认为，月度用电量连续两月突破万亿千瓦时的背后，有 今夏高温高湿天气来得早持续久，带动居民用电快速增长的拉动，也显示出新质生产力蓬勃发展，正形 成新的经济增长点，推动用电量向上攀升。 生产端：制造业向"新"向"绿"转型成效持续显现 四川成都一家半导体生产企业，全自动生产线满负荷运转。前不久，企业总投资15亿元的扩产项目投 运。"订单量和各项交付指标数据创新高，国庆、中秋假期我们也开足马力赶订单。"企业负责人介绍， 前三季度用电量预计同比增长约50%。 用电量是经济运行的"晴雨表""风向标"。国家能源局数据显示，8月全社会用电量10154亿千瓦时，同比 增长5.0%。这是继今年7月用电量首次突破万亿千瓦时之后，再度破万亿，在全球也属首次。 在领克汽车浙江宁波余姚工厂，机械臂仅70秒便可拧紧车底盘的螺丝。"生产线前段时间刚完成智能化 升级，装配效率比之前更高了。"工厂电气技术主管工程师张辉介绍，8月工厂日出厂整车超400辆，订 ...

9月28日，国家发展改革委主任郑栅洁主持召开民营企业座谈会，就"十五五"时期扩大有效投资听取企 业意见建议。郑栅洁强调，民间投资是反映经济活跃程度的重要风向标，对稳就业稳经济具有重要作 用。"重要风向标"的界定，可以看出对扩大民间投资的重视和希望。 座谈会上，参会企业建议国家在编制"十五五"规划时，进一步突出企业创新主体地位、优化科技创新平 台建设布局、完善投融资机制、加强知识产权保护等，支持企业抢抓人工智能创新发展应用等机遇，不 断拓展民营企业投资空间、释放投资潜力。 同时，参会企业表示将积极参与国家重大项目建设，围绕新技术、新产业、新业态、新模式扩大有效投 资，更好助力经济社会高质量发展。 半个月前的9月12日，国务院常务会议研究部署了进一步促进民间投资发展的若干措施，提出要拓宽民 间投资空间，支持民间资本加大新质生产力、新兴服务业、新型基础设施等领域投资。 显然，两次会议的关键词都是"新"，国家政策层面以"新"作为引领，民营企业以"新"作为投资重点方 向。 强调"新"，不仅是为了抵消传统行业投资增速放缓的压力，更体现了中国经济转型升级的逻辑。新兴产 业、新模式往往需要更灵活的机制、更敏锐的市场判断，而民 ...

新型政策性金融工具有望向民营企业倾斜。 作为破解当前投资困境、推动经济高质量发展的关键抓手，新型政策性金融工具迎来新进展。 今年5月以来，广东、江苏、河北、湖南、山东等多个省份的地市级发改委及部分行业主管部门，组织 开展了2025年新型政策性金融工具专题培训暨项目申报培训会议，以期抢抓机遇，精准对接项目和资 金。 国家发改委新闻发言人李超29日在发布会上透露，为促进金融更好服务实体经济，推动扩大有效投资， 国家发改委会同有关方面积极推进新型政策性金融工具有关工作。新型政策性金融工具规模共5000亿 元，全部用于补充项目资本金。 李超表示，正会同有关方面，抓紧将新型政策性金融工具资金投放到具体项目，后续将督促各地方推动 项目加快开工建设，尽快形成更多实物工作量，推动扩大有效投资，促进经济平稳健康发展。 当前民间投资已连续3个月负增长，新型政策性金融工具有望向民营企业倾斜。第一财经记者了解到， 进一步促进民间投资发展的若干措施即将发布，部署拓宽民间投资空间，破除限制民间投资的各种隐性 壁垒。支持民间资本加大新质生产力、新兴服务业、新型基础设施等领域投资。 有望撬动6万亿投资 我国政策性金融工具运用由来已久。比如， ...

Core Viewpoint - Mingyang Electric experienced a 5.04% increase in stock price on September 23, with a trading volume of 846 million yuan, indicating strong market interest and activity in the stock [1]. Financing Summary - On September 23, Mingyang Electric had a financing buy-in amount of 118 million yuan and a financing repayment of 106 million yuan, resulting in a net financing buy of 12.07 million yuan [1]. - As of September 23, the total financing and securities lending balance for Mingyang Electric was 326 million yuan, with the financing balance accounting for 3.93% of the circulating market value, indicating a high level of financing activity compared to the past year [1]. - The company had no shares repaid in securities lending on September 23, with 2,600 shares sold, amounting to 123,000 yuan at the closing price, and a securities lending balance of 1.15 million yuan, which is above the 70th percentile for the past year [1]. Business Performance - As of June 30, Mingyang Electric reported a total revenue of 3.475 billion yuan for the first half of 2025, representing a year-on-year growth of 40.51%, and a net profit attributable to shareholders of 306 million yuan, up 24.38% year-on-year [2]. - The company has distributed a total of 471 million yuan in dividends since its A-share listing [2]. Shareholder Structure - As of June 30, 2025, the number of shareholders for Mingyang Electric was 13,200, a decrease of 2.33% from the previous period, while the average circulating shares per person increased by 2.39% to 12,277 shares [2]. - Among the top ten circulating shareholders, notable changes include an increase in holdings by Jianxin New Energy Industry Stock A and the entry of Guotai Junan Value Advantage Flexible Allocation Mixed A as a new shareholder [2].

Core Viewpoint - Recent policy signals from the National Development and Reform Commission and the State Council emphasize the importance of promoting private investment for sustainable economic development, enhancing investment quality and efficiency, and injecting new vitality into the market [1][3]. Group 1: Policy Initiatives - The State Council meeting, chaired by Premier Li Qiang, highlighted the need to stimulate private investment and expand its scope, particularly in new productive forces, emerging services, and new infrastructure [3]. - The National Development and Reform Commission plans to introduce policies to facilitate private investment, including setting minimum shareholding ratios for private capital in major projects in sectors like railways, nuclear power, and oil and gas pipelines [3][4]. - The use of Real Estate Investment Trusts (REITs) is encouraged to transform "heavy assets" into "light securities," allowing private capital to invest in infrastructure projects with lower initial costs and improved exit efficiency [4]. Group 2: Investment Trends - Data from the National Bureau of Statistics indicates that private investment decreased by 2.3% year-on-year from January to August, but when excluding real estate development, it grew by 3.0% [5]. - Manufacturing sector private investment increased by 4.2% year-on-year during the same period, surpassing the overall private investment growth rate [6]. - In 31 manufacturing sectors, 16 experienced double-digit growth in private investment, with notable increases in automotive manufacturing (22.6%) and transportation equipment (16.2%) [7]. Group 3: Future Outlook - Despite current pressures on private investment due to complex domestic and international environments, the long-term outlook for economic development in China remains positive, providing support for private investment growth [7]. - The introduction of private capital is expected to broaden funding sources, alleviate fiscal burdens, and enhance the market-oriented operation of major projects, fostering technological and management innovations [7]. - The key to realizing policy benefits lies in effectively implementing and refining these policies to ensure private capital can transition from being merely visible to being tangible and profitable [7].

Group 1 - From January to August, private fixed asset investment decreased by 2.3% year-on-year, with the decline rate expanding compared to the previous seven months [1] - The decline in private investment growth is primarily due to a 16.7% drop in real estate development investment, which lowered the overall private investment growth rate by 4.5 percentage points [1] - Excluding real estate development, private project investment grew by 3% year-on-year, indicating strong investment willingness and capability in the real economy [1] Group 2 - Private investment in the manufacturing sector increased by 4.2% in the first eight months, with over half of the 31 manufacturing categories achieving double-digit growth [1] - The automotive manufacturing sector saw a remarkable investment growth rate of 22.6%, while investment in railway, shipbuilding, aerospace, and other transportation equipment manufacturing grew by 16.2% [1] - Private capital is actively aligning with industrial upgrading trends, increasing innovation investments, and integrating into the modern industrial system [1] Group 3 - Private capital participation in major infrastructure construction is expanding, with a 7.5% year-on-year increase in private investment in infrastructure [2] - The accommodation and catering industry experienced a 17% growth in private investment, while the cultural, sports, and entertainment sectors saw a 7% increase, reflecting the trend of service consumption expansion and quality improvement [2] - Despite challenges faced by some private enterprises, the long-term positive fundamentals of the economy remain unchanged, providing ample space for private investment [2] Group 4 - Future trends in private investment include a shift towards high-quality development sectors, increased capital flow into new productivity, emerging services, and new infrastructure [3] - Investment models are becoming more diversified, with improved government and social capital cooperation, and the normalization of infrastructure REITs to further stimulate private investment [3] - The investment ecosystem is evolving with large private enterprises leading innovation and small and medium-sized enterprises focusing on niche markets, creating complementary advantages [3] Group 5 - To further stimulate private investment, coordinated efforts are needed across multiple dimensions to ensure that private capital can invest effectively and efficiently [3] - The State Council's recent meeting emphasized addressing key concerns of enterprises and implementing practical measures to expand access and enhance support [3] - The National Development and Reform Commission is working on policies to promote private investment development and establish mechanisms for private participation in major national projects [3]