双方将充分发挥各自在资金、市场资源与技术解决方案上的优势，共同挖掘项目机会、推动项目落地， 以提升品牌影响力与市场份额，实现合作共赢。此外，双方在智能燃气表计、燃气安全设备及智慧燃气 管理系统等领域也将开展联合开发与创新。 3.股权合作探索 智通财经APP讯，滨海投资(02886)发布公告，本公司全资附属公司滨海投资(天津)有限公司与浙江正泰 电器股份有限公司(601877.SH)的控股子公司浙江泰能智慧电力有限公司(浙江泰能)订立《战略合作协 议》，双方同意在全国范围内开展综合能源业务合作，共同推进零碳园区、智能微电网、储能、充换电 站等领域的项目开发与实施( 战略合作)。 浙江泰能深耕综合能源领域，具备多项专业施工资质，围绕"绿源、智网、降荷、新储、超充"等核心环 节，为客户提供一站式能源解决方案，并在构建智能绿色微电网与打造零碳园区方面拥有显著技术优势 和成功实践。 双方将充分发挥各自优势，整合资源，在以下领域开展深度合作： 1.零碳园区规划与实施 共同为园区提供综合能源解决方案，包括但不限于智能微电网、绿电直连、区域能源站、分布式能源、 储能及余热余压利用等基础设施，并搭建能碳管理平台，助力园区绿色发 ...

公司认为，本次战略合作符合集团积极布局综合能源业务的发展战略，有助于提升集团在零碳园区及综 合能源领域的核心竞争力。通过整合浙江泰能在智慧电力、能源管理系统等方面的技术优势与集团之市 场资源及产业链布局，双方将共同甄选、孵化并推动优质项目落地。此举不仅有助于培育集团新的利润 增长点，更能强化集团在能源变革中的竞争力，为股东创造可持续的长期价值。 格隆汇11月25日丨滨海投资(02886.HK)宣布，公司全资附属公司滨海投资(天津)有限公司与浙江正泰电 器股份有限公司(上海证券交易所上市公司，股票代号：601877.SH)的控股子公司浙江泰能智慧电力有 限公司("浙江泰能")订立《战略合作协议》，双方同意在全国范围内开展综合能源业务合作，共同推进 零碳园区、智能微电网、储能、充换电站等领域的项目开发与实施。 浙江泰能深耕综合能源领域，具备多项专业施工资质，围绕「绿源、智网、降荷、新储、超充」等核心 环节，为客户提供一站式能源解决方案，并在构建智能绿色微电网与打造零碳园区方面拥有显着技术优 势和成功实践。 ...

Core Viewpoint - The article emphasizes the importance of integrated and collaborative development in the renewable energy sector, aiming for significant improvements in reliability and market competitiveness by 2030, which will support a comprehensive green transition in the economy and society [6][7]. Group 1: Overall Requirements - The guidance is aligned with Xi Jinping's thoughts and aims to implement the new development philosophy, focusing on system integration and one-time development to enhance the reliability and stability of energy supply [7]. - By 2030, integrated development will become a key approach in renewable energy, significantly enhancing its reliability and market competitiveness [7]. Group 2: Accelerating Multi-Dimensional Integrated Development - The article calls for optimizing the power structure and energy storage configuration of renewable energy bases, encouraging the use of thermal power and new storage technologies to enhance collaboration between renewable and coal power [9]. - It supports the establishment of 100% renewable energy bases in suitable regions and promotes the integrated development of water, wind, and solar energy [9][10]. Group 3: Promoting Integrated Operation of Renewable Energy - Continuous improvement in the accuracy of renewable energy power forecasting and the adoption of advanced grid technologies are encouraged to enhance the controllability of renewable energy [12]. - The article advocates for the integration of renewable energy with energy storage systems and the exploration of substantial joint operations with other power sources to improve market competitiveness [12]. Group 4: Promoting Synergistic Development with Multiple Industries - The guidance suggests enhancing the green manufacturing capabilities of the renewable energy industry and promoting the integration of renewable energy with traditional industries to optimize energy consumption and reduce costs [13][14]. - It encourages the development of new energy industries, such as green hydrogen and ammonia, in resource-rich areas, promoting the establishment of comprehensive industrial bases [16]. Group 5: Strengthening Organizational Support - The article emphasizes the need for coordinated project construction and management, encouraging local energy authorities to enhance collaboration and ensure the smooth execution of renewable energy projects [19]. - It also highlights the importance of optimizing investment and development management processes for renewable energy integration projects [20].

Core Viewpoint - The 2025 Smart Microgrid Innovation Development Conference was held in Changzhou, focusing on the theme "Smart Microgrid Green Future," gathering experts and energy company representatives to discuss policy directions, technological frontiers, and business models [1] Group 1: Smart Microgrid Overview - Smart microgrids are defined as power systems composed of distributed energy sources and electrical loads that can operate both in grid-connected and island modes [1] - As of May this year, the installed capacity of renewable energy in Jiangsu Province has exceeded 100 million kilowatts, accounting for 46% of the total installed capacity in the province [1] Group 2: Policy and Project Development - Jiangsu is actively implementing the national high-quality development plan for distribution networks, planning to construct 137 microgrid projects covering five major scenarios: smart manufacturing, building energy efficiency, vehicle-grid interaction, park source-grid-load-storage coordination, and virtual power plants [1] - Currently, 86 projects have been completed in the province, with 13 cities coordinating local characteristics for advancement [1] Group 3: Case Study - Changzhou - Changzhou has been recognized as one of the first cities in the country to implement large-scale vehicle-grid interaction applications, achieving significant results in the construction of vehicle-grid interaction projects and serving as a demonstration model [1]

Core Insights - The conference on smart microgrid innovation and development was held in Changzhou, Jiangsu, focusing on the theme "Smart Microgrid, Green Future" and aimed to discuss new opportunities for the development of smart microgrids in the energy sector [1][3]. Group 1: Objectives and Goals - The Smart Microgrid Committee aims to support the national "dual carbon" strategy and promote green energy transition, focusing on technological innovation and application in smart microgrids [3]. - The conference is designed to create a dialogue platform across academia, industry, and commerce, addressing key topics such as cutting-edge technologies and operational models while responding to policy directions and enterprise needs [5]. Group 2: Achievements and Developments - The Smart Microgrid Committee highlighted its achievements in technology promotion and standardization, identifying development bottlenecks and outlining the industry's growth trajectory [7]. - The conference showcased the practical efforts and leading outcomes of State Grid Jiangsu Electric Power in advancing high-quality development of microgrids, emphasizing the committee's role as a bridge in promoting technological innovation and industry application [7]. Group 3: Conference Structure and Activities - The conference lasted one day and was structured as a "main forum + sub-forums" format, featuring key segments such as work summaries, forward-looking discussions, keynote speeches, and high-level dialogues [5]. - Prior to the conference, experts and industry representatives conducted in-depth research at typical microgrid demonstration projects, gaining insights into the technological pathways and advanced operational models of Jiangsu's microgrid interactions with the grid [7].

Core Viewpoint - The company, Zhongzhi Technology, is actively involved in the renewable energy sector, providing control systems and products that support offshore and onshore wind power projects, as well as energy storage systems [2] Group 1: Product Offerings - The company's controller series products are applicable for generator control systems and distribution systems in offshore and onshore wind power projects [2] - The renewable energy segment includes products such as Energy Management Systems (EMS), Battery Management Systems (BMS), Power Conversion Systems (PCS), and energy storage cabinets [2] Group 2: Industry Impact - The company's products enable multi-energy complementarity with wind, solar, oil, and gas, addressing the needs of smart microgrids and related energy storage systems [2] - The offerings contribute to the construction of a sustainable energy ecosystem [2]

Group 1 - The company, Zhongzhi Technology, confirmed that its controller series products can be applied in offshore and onshore wind power projects for generator control systems and distribution systems [2] - The company's new energy sector products, such as EMS, BMS, PCS, and energy storage cabinets, enable multi-energy complementarity with wind, solar, oil, and gas, meeting the needs of smart microgrids and related energy storage systems [2] - The company's efforts contribute to the construction of a sustainable energy ecosystem [2]

Core Viewpoint - The establishment of a microgrid management platform in Jiangsu enhances energy efficiency and supports renewable energy consumption, contributing to the resilience of the power grid during peak loads [1][2]. Group 1: Microgrid Management Platform - The microgrid management platform, launched in April, integrates various energy facilities and provides efficient energy usage strategies for enterprises [1]. - The platform allows real-time monitoring of solar power generation, energy storage status, and electricity load, enabling companies to optimize their energy consumption [1]. - The platform generates monthly energy analysis reports, helping companies understand their energy efficiency levels more intuitively [1]. Group 2: Power Consumption Growth - Jiangsu's electricity consumption has been steadily increasing, with the highest summer load reaching 155 million kilowatts, a year-on-year increase of 5.99% [2]. - The smart microgrid enhances the resilience and emergency response capabilities of the power grid, meeting rising electricity demands while improving green energy consumption [2]. Group 3: Microgrid Project Implementation - As of now, the microgrid platform in Nantong has connected 39 microgrid projects, covering five typical application scenarios including vehicle-grid interaction and smart manufacturing [2]. - The cumulative capacity of various resources connected to the microgrid is 344 megawatts, with a total power generation of approximately 60.12 million kilowatt-hours and a renewable energy consumption rate of 97% [2].

Core Insights - The article highlights the implementation of a smart microgrid management platform in Jiangsu, which integrates various energy resources to enhance energy efficiency and sustainability [1][2]. Group 1: Microgrid Management Platform - The microgrid management platform, launched in April, is the first of its kind in Jiangsu, covering the entire "source-network-load-storage" chain [1]. - The platform provides real-time data on photovoltaic generation, energy storage status, and electricity load, allowing companies to optimize their energy consumption strategies [1]. - The platform generates monthly energy analysis reports, enabling companies to better understand their energy efficiency levels [1]. Group 2: Energy Consumption and Performance - Jiangsu's electricity consumption has been steadily increasing, with the highest summer load reaching 155 million kilowatts, a year-on-year increase of 5.99% [2]. - The smart microgrid enhances the resilience and emergency response capabilities of the power grid during peak load times, while also improving the consumption of green electricity [2]. - As of now, the microgrid platform in Nantong has connected 39 microgrid projects, covering five typical application scenarios and achieving a total capacity of 344 megawatts, with a renewable energy consumption rate of 97% [2].

Core Viewpoint - The company reported a significant decline in revenue and net profit for the first half of 2025, indicating challenges in the solar energy market and increased competition [1][4]. Group 1: Financial Performance - In H1 2025, the company achieved operating revenue of 7.44 billion yuan, a year-on-year decrease of 28.8%, and a net profit attributable to shareholders of -680 million yuan, an improvement from -960 million yuan in the same period last year [1]. - For Q2 2025, the company reported operating revenue of 4.45 billion yuan, a year-on-year decrease of 19.4%, but a quarter-on-quarter increase of 48.9%, with a net profit of -410 million yuan [1]. - The gross profit margin for H1 2025 was 3.1%, down 5.9 percentage points year-on-year, while Q2's gross profit margin was 1.5%, down 8.3 percentage points year-on-year and 3.9 percentage points quarter-on-quarter [1]. Group 2: Business Segments - The solar cell and module business generated revenue of 3.81 billion yuan in H1 2025, a year-on-year decrease of 54.0%, with a gross margin of -4.5%, down 11.5 percentage points [2]. - The module business alone accounted for 3.75 billion yuan in revenue, also down 54.1% year-on-year, with sales volume of 5.7 GW, a decrease of 28% [2]. - The company is a leader in the HJT sector, optimizing product structure and accelerating the iteration of N-type high-efficiency capacity, achieving a cell conversion efficiency of over 26.60% and module efficiency of over 24.70% by August 27, 2025 [2]. Group 3: Energy Storage and Photovoltaic Integration - The energy storage system, lighting, and auxiliary photovoltaic products generated revenue of 480 million yuan in H1 2025, a year-on-year increase of 0.3%, with a gross margin of 18.2%, down 8.0 percentage points [3]. - The energy storage integration business focuses on large-scale systems primarily targeting the European and American markets, maintaining a record of zero safety incidents globally [3]. - The company is actively developing commercial distributed photovoltaic power station businesses, with integrated "solar-storage" and "solar-storage-charging" solutions already commercialized [3]. Group 4: Profit Forecast and Investment Suggestions - The company faces intensified industry competition, impacting shipment scale and profitability, with projected revenues of 16.19 billion yuan, 21.53 billion yuan, and 28.20 billion yuan for 2025-2027, reflecting year-on-year growth rates of -20.0%, 33.0%, and 31.0% respectively [4]. - Expected net profits for the same period are -830 million yuan, 430 million yuan, and 1.20 billion yuan, indicating a narrowing loss, a return to profitability, and a growth rate of 176.2% [4]. - The company is positioned as a leading HJT enterprise with advanced R&D and capacity reserves, likely to benefit from improvements in the photovoltaic industry fundamentals [4].