电力设备 头部企业业绩稳升，新增长点纷呈 ◎记者王文嫣 随着A股上市公司三季报披露收官，在国内电网投资持续高位运行与海外市场需求爆发的双重驱动下， 绝大多数电力设备企业营收与利润实现稳步增长。超级电容、储能等正成为部分公司的新标签。在近日 发布的重磅文件明确提出要加快智能电网和微电网建设的背景下，多位电力设备行业人士认为，电力设 备行业正迎来短期业绩释放与中长期发展机遇的共振期。 业绩分化中显韧性 电网投资与海外市场双轮驱动增长 海外市场无疑是支撑思源电气业绩高增的核心引擎。上半年，思源电气海外市场收入达到28.6亿元，同 比增长89.0%，海外收入占比接近34%，其主要市场包括欧洲、亚洲、非洲等多个地区。 近日，思源电气接待机构调研时透露，公司海外订单的增速高于平均增速。公司海外EPC项目主要集中 在东南亚和非洲地区，基于当地能源建设的需求，今年订单量有所增长。 分接开关领域龙头华明装备前三季度累计实现营业收入18.15亿元，同比增长6.87%；实现归母净利润 5.81亿元，同比增长17.66%。 华明装备同样在机构调研中透露，公司海外业务正处于快速扩张阶段，间接出口占比大幅上升，欧洲、 东南亚和中东成为主 ...

电力设备 头部企业业绩稳升，新增长点纷呈 海外市场无疑是支撑思源电气业绩高增的核心引擎。上半年，思源电气海外市场收入达到28.6亿元，同 比增长89.0%，海外收入占比接近34%，其主要市场包括欧洲、亚洲、非洲等多个地区。 近日，思源电气接待机构调研时透露，公司海外订单的增速高于平均增速。公司海外EPC项目主要集中 在东南亚和非洲地区，基于当地能源建设的需求，今年订单量有所增长。 ◎记者 王文嫣 随着A股上市公司三季报披露收官，在国内电网投资持续高位运行与海外市场需求爆发的双重驱动下， 绝大多数电力设备企业营收与利润实现稳步增长。超级电容、储能等正成为部分公司的新标签。在近日 发布的重磅文件明确提出要加快智能电网和微电网建设的背景下，多位电力设备行业人士认为，电力设 备行业正迎来短期业绩释放与中长期发展机遇的共振期。 业绩分化中显韧性 电网投资与海外市场双轮驱动增长 上海证券报记者梳理国电南瑞、思源电气、中国西电、许继电气、平高电气等多家具有行业代表性的企 业三季报发现，尽管业绩增速存在分化，但增长主线清晰，电网投资拉动与海外市场突破成为核心驱动 力。 中国电力企业联合会最新报告显示，前三季度我国电网完成投资 ...

这项技术的突破背后，是临汾电网从"人防"到"技防"的智慧转型。国网临汾供电公司相关负责人表示， 下一步将为这套系统引入AI影像智能诊断——通过建立缺陷样本库，让系统自动识别与预警裂纹、锈 蚀等典型隐患；未来甚至可在临汾域内全覆盖线路、跨区电网及覆冰应力检测等场景中规模化应用，实 现机巢组网、月度自巡，重构"天空地"协同巡检新模式。(完) 而"仿线飞行"则是无人机在自主控制下，通过无人机上毫米波激光雷达，可达到实时、自动、精准地沿 线路飞行，并始终保持与导线、铁塔的最佳观察和作业距离，从而完成拍照、扫描、检测等任务。它将 无人机从一个需要高超技巧手动操控的"相机"，变成一个能够自主、精准、重复执行复杂任务的"智能 机器人"。 9月3日，山西临汾，供电人员利用无人机为输电线 路做"CT"。闫永芳 摄 "以前检查线路内部情况，就像蒙着眼睛找人，看不见也看不清。工人必须爬上百米高塔，或者动用大 型机械，不仅风险极高，耗时长，很多隐藏的缺陷发现不了。"该公司输电运检中心副主任杨雪峰说， 如今，无人机仿线飞行技术让巡检发生根本性变革——它能自动复制线路走向，在田间地头复杂环境中 精准保持最佳检测距离，单次飞行即可完成单档 ...

Core Viewpoint - China's ecological civilization construction is creating significant changes and a paradigm shift for human social development, as stated by Jeremy Rifkin, President of the Foundation on Economic Trends [1]. Group 1: Ecological Civilization Concept - The ecological civilization concept in China represents a transformation in the relationship between humans and nature, as well as between individuals [1]. - Rifkin emphasizes that the ecological crisis necessitates new ideas and global governance models, with China's global development initiative offering hope through principles like harmonious coexistence with nature [1]. Group 2: Institutional Framework - The inclusion of ecological civilization in China's constitution reflects the country's commitment and the establishment of a corresponding institutional framework to promote modernization in harmony with nature [1]. Group 3: Ecological Protection Systems - China has established national parks and ecological protection systems that transcend administrative boundaries, indicating a holistic approach to ecosystem management [2]. - The vision of adapting society to nature rather than the reverse is a key aspect of China's ecological strategy [2]. Group 4: Technological Leadership - China is a global leader in solar energy and electric vehicle technology, with advantages in wind energy, energy storage, hydrogen energy cost reduction, and long-distance transportation [2]. - The initiative to build a global energy internet and develop smart grids is crucial for reducing disparities in energy access and usage among different countries and regions [2]. Group 5: Youth Engagement - Many young people in China are actively working towards the ecological civilization vision, contributing to a new technological revolution driven by advancements in artificial intelligence [2]. - The role of China and Asia is expected to be significant in this transformative process [2].

Core Viewpoint - The company reported a stable performance for the first half of 2025, with revenue and profit growth despite geopolitical and economic uncertainties [1][2] Financial Performance - Revenue for the first half of 2025 reached HKD 20.359 billion, representing a year-on-year increase of 6.6% [1] - Shareholders' profit attributable to the company was HKD 4.348 billion, up 0.9% year-on-year [1] - Basic earnings per share were HKD 1.73, with an interim dividend proposed at HKD 0.73 per share [1] Financial Strength - As of June 30, 2025, the company held cash reserves of HKD 4.7 billion, with a net debt to total capital ratio of 10.6% [1] - When considering the net debt in the infrastructure investment portfolio, the ratio stands at a low industry level of 48.7% [1] Sustainable Development Initiatives - The company is expanding sustainable development projects in the UK and Australia, including smart grid solutions and electric vehicle charging infrastructure [2] - Clean hydrogen and biomethane projects in the gas distribution network are progressing well in the UK and Australia [2] - Ongoing projects include the Okanagan wind power project in Canada, wind farms in the UK, and solar business portfolios in Australia [2]

Core Viewpoint - Hunan province is experiencing extreme weather conditions, leading to record-high electricity demand and proactive measures to ensure power supply stability during the summer peak [1][2][4]. Group 1: Electricity Demand and Supply - Hunan's electricity load is expected to exceed 50 million kilowatts, marking an 8.4% increase, and could reach 52 million kilowatts under extreme conditions, representing a 10.8% growth [2]. - The maximum load recorded on July 16 reached 46.64 million kilowatts, a historical high, with an increase of 53000 kilowatts compared to the previous year's peak [1]. - The province has a total adjustable power capacity of 40 million kilowatts and a maximum supply capability of 50.76 million kilowatts after accounting for reserves [1][2]. Group 2: Infrastructure and Preparedness - Hunan has completed 12 key projects for summer peak power supply, enhancing the capacity of thermal and hydropower to ensure reliable electricity supply [4]. - The Ningxia-Hunan ±800 kV UHVDC project is expected to enhance power transmission capacity to 8 million kilowatts upon completion [2][4]. - The province's hydropower plants have a total installed capacity of 2.4125 million kilowatts, contributing significantly to the overall power supply [4]. Group 3: Emergency Response and Technology - Hunan's power companies have been actively engaged in emergency responses to extreme weather, including heavy rainfall and flooding, ensuring the safety and reliability of power supply [6][9]. - Advanced technologies such as machine dogs and drones are being utilized for inspections and repairs, significantly improving operational efficiency [10][11][12]. - The province has conducted over 11,115 non-power outage operations to maintain the reliability of the electricity grid during peak demand [9].

Core Insights - The 2026 International Power Electronics Exhibition in India (ELASIA 2026) will take place from May 14 to 17, 2026, at the Bangalore International Exhibition Centre, organized by Triune Exhibitors Pvt. Ltd. and the Electrical Consultants Association of India [3] Group 1: Exhibition Overview - ELASIA is one of the most influential industry exhibitions in the electrical and lighting sector in India, held biennially, showcasing the latest products and technologies in power, electrical engineering, transmission and distribution equipment, energy-efficient lighting, renewable energy technologies, industrial automation, and smart control [3] - The exhibition serves as a crucial bridge connecting local procurement chains in India with international supplier resources, providing exhibitors direct access to the rapidly growing electrical and lighting market in India and South Asia [3] Group 2: Exhibits and Technologies - The exhibition will cover a wide range of exhibits, including power generation and electrical equipment such as AC generators, transformers, and various high and low voltage transmission and distribution equipment [5] - It will also feature smart grid technologies, power control and distribution systems, electronic components, lighting and electronic devices, and renewable energy equipment and technologies [6][7] Group 3: Market Context and Opportunities - The electrical and lighting industry in India is experiencing rapid growth due to ongoing economic development, accelerated urbanization, and increased government investment in infrastructure and clean energy [9] - The "Make in India" initiative is attracting foreign technology and investment, encouraging local electrical manufacturing to transition towards automation, intelligence, and sustainability, creating vast market opportunities for ELASIA [9] - Companies planning to participate in the exhibition are advised to prepare their exhibition plans and relevant product and technology materials in advance to leverage the platform for networking and market expansion [9]