Market Performance - The ChiNext Index rose over 3%, while the Shanghai Composite Index increased by 0.61% and the Shenzhen Component Index by 1.73%, with nearly 4500 stocks in the Shanghai and Shenzhen markets experiencing gains [1] Clean Energy Corridor - The world's largest clean energy corridor, consisting of six hydropower stations, has cumulatively generated over 4 trillion kilowatt-hours of electricity, with 235.1 billion kilowatt-hours produced in the first three quarters of this year [1] - The corridor supported grid stability during peak electricity usage, achieving over 89 days with daily generation exceeding 1 billion kilowatt-hours [1] Electric Vehicle Charging Infrastructure - A new action plan aims to double the service capacity of electric vehicle charging facilities by 2027, targeting the establishment of 28 million charging facilities and over 300 million kilowatts of public charging capacity [1] - The plan is expected to accelerate the construction of charging infrastructure, particularly for high-power fast charging equipment, benefiting related charging pile equipment companies [1] Power Equipment Market - The State Grid recently announced a significant increase in the bidding volume for power equipment, with notable year-on-year growth in the bidding amounts for combination electrical devices, isolating switches, and transformers [2] - The new energy storage plan anticipates a total installed capacity of over 180 million kilowatts by 2027, maintaining high demand in the industry [2] Global Power Equipment Demand - A report indicates that global power equipment demand is entering an upward cycle, with global grid investment expected to exceed $400 billion by 2025 [2] - Chinese power equipment exporters are poised to benefit from this demand surge, with significant orders already secured [2] ETF Performance - As of October 20, 2025, the Electric Grid ETF (159320) increased by 2.81%, with the top ten weighted stocks accounting for 51.41% of the ETF [3] - The ETF has shown a year-to-date increase of 52.34%, outperforming the China Securities Electric Grid Equipment Theme Index [3] Fund Metrics - The Electric Grid ETF has a management fee of 0.50% and a custody fee of 0.05%, which are among the lowest in comparable funds [4] - The ETF's recent net inflow was 1.4861 million yuan, with a total of 41.7452 million shares, marking a six-month high [3][4]

Core Insights - The "Clean Energy Corridor" in the middle reaches of the Yarlung Tsangpo River in Shannan City, Tibet, has begun to take shape, with an expected total power generation of 6.506 billion kWh in 2024, accounting for over one-third of the total power generation in Tibet for that year [1][2] Economic Growth - The GDP of Shannan City has increased from 2.78 million RMB in 1990 to 30.442 billion RMB in 2024, with an average annual growth rate of 14.8% [1] - General public budget revenue has grown from 1 million RMB in 1965 to 2.14 billion RMB in 2024, reflecting an average annual growth of 14% [1] - Total fixed asset investment has risen from 126 thousand RMB in 1965 to 19.381 billion RMB in 2024, with an average annual growth rate of 18% [1] - Per capita disposable income of rural residents has increased from 143.5 RMB in 1978 to 23,346 RMB in 2024, averaging an annual growth of 11.7% [1] Infrastructure Development - The total length of roads in Shannan City has expanded from 500 kilometers in 1965 to 9,835 kilometers in 2024, nearly a 20-fold increase, with 100% road accessibility in all 12 counties and 90 townships [2] - The world's longest ultra-high-altitude highway tunnel, "S5," has officially opened, enhancing the transportation network centered around Shannan City [2] - By the end of 2024, Shannan City will have a total installed capacity of clean energy power generation reaching 2.489 million kW, including 1.9073 million kW from hydropower, 509,100 kW from photovoltaics, and 72,600 kW from wind power [2]

Core Viewpoint - The photography exhibition titled "The Construction of the World's Largest Clean Energy Corridor Begins in Yichang - Chinese Dam Builders" aims to celebrate the spirit of labor and craftsmanship, showcasing the achievements of China's hydropower construction industry and honoring the builders behind these monumental projects [1][3][7]. Group 1: Exhibition Overview - The exhibition is organized by the Hubei Provincial Photographers Association, Yichang Workers' Cultural Palace, and Yichang Photographers Association, with support from various local organizations [3]. - It features over 120 precious images that depict the struggles and achievements of the builders involved in China's water conservancy and hydropower projects [3][5]. Group 2: Exhibition Content - The exhibition is divided into two main sections: 1. "The Construction Journey of the World's Largest Clean Energy Corridor," showcasing 19 images that document the construction of the Gezhouba and Three Gorges Dams, as well as the six hydropower stations along the corridor [5]. 2. "Chinese Dam Builders - Image Archives of the Baihetan Hydropower Station Builders," featuring 101 images that capture various aspects of the builders' lives and work, highlighting their resilience, dedication, and emotional connections [5]. - The exhibition aims to transform cold engineering data into human stories, presenting a comprehensive view of the working environment, living conditions, and spirit of the Chinese dam builders [5]. Group 3: Significance of Yichang - Yichang is recognized as the starting point of the world's largest clean energy corridor, witnessing the monumental progress from the Gezhouba Dam to the Baihetan Hydropower Station [7]. - The six hydropower stations along the Yangtze River have a total installed capacity of 71.695 million kilowatts, symbolizing a significant achievement in clean energy development [7].