Core Insights - In July, China's total electricity consumption reached 10,226 billion kilowatt-hours, marking the first time it surpassed the trillion-kilowatt-hour threshold in a month, with a year-on-year growth of 8.6% [1] Industry Analysis - By sector, electricity consumption in the primary industry was 17 billion kilowatt-hours, up 20.2% year-on-year; the secondary industry consumed 5,936 billion kilowatt-hours, growing by 4.7%; and the tertiary industry used 2,081 billion kilowatt-hours, with a growth of 10.7% [1] - Urban and rural residential electricity consumption was 2,039 billion kilowatt-hours, reflecting an 18% year-on-year increase [1] Cumulative Data - From January to July, total electricity consumption accumulated to 58,633 billion kilowatt-hours, with a year-on-year growth of 4.5% [1] - The secondary industry's electricity consumption showed a continuous recovery, with high-tech and equipment manufacturing sectors collectively increasing by 4.6%, outpacing the average manufacturing growth rate by 2.3 percentage points [1] - The new energy vehicle manufacturing sector maintained rapid growth, with electricity consumption rising by 25.7% year-on-year [1] Tertiary Sector Growth - The tertiary industry's electricity consumption continued to grow rapidly, with the information transmission/software and IT services sector increasing by 15.5% year-on-year, driven by the rapid development of mobile internet, big data, and cloud computing [1] - The internet and related services sector saw a significant increase in electricity consumption, growing by 28.2% year-on-year [1] Weather Impact - July experienced multiple rounds of high temperatures across various regions, leading to a rapid increase in urban and rural residential electricity consumption, with provinces like Henan, Shaanxi, Shandong, Sichuan, Anhui, and Hubei reporting year-on-year growth exceeding 30% [1]

Core Viewpoint - The appointment of Zhu Ranjie as Vice President of Shanzi Gaoke is seen as a crucial step to enhance the company's core competitiveness in the new energy vehicle sector and to help the company escape its loss-making situation [5][11]. Company Overview - Shanzi Gaoke announced the appointment of Zhu Ranjie on July 29, marking a significant leadership change as the company focuses on its core business [1]. - Zhu Ranjie has extensive experience in the automotive manufacturing sector, having held key positions at Tesla and other major automotive companies [2][3]. Financial Performance - Shanzi Gaoke's half-year performance forecast for 2025 indicates a projected net profit of 150 million to 225 million yuan, a significant turnaround from a loss of 1.129 billion yuan in the same period last year [6][8]. - The expected profit represents a growth of 113% to 120% compared to the previous year [7][8]. - Despite the positive outlook, the company anticipates a net loss of 252 million to 327 million yuan when excluding non-recurring gains and losses, although this reflects a reduction in losses of 40% to 54% compared to the previous year [9]. Strategic Adjustments - The company's turnaround is attributed to strategic adjustments, including the divestment of underperforming business units and a focus on core operations [9]. - Historical debt restructuring has also contributed to a more favorable financial environment for the company [9]. Market Sentiment - As of July 30, Shanzi Gaoke's stock closed at 2.05 yuan per share, with a total market capitalization of 20.495 billion yuan, indicating a cautious market sentiment [10]. - Investors are closely watching Zhu Ranjie's ability to leverage his experience from Tesla to enhance production efficiency and drive profitability in the new vehicle projects [11].