根据会上发布的《北京人工智能创新高地建设行动计划》，北京将实施技术创新策源行动、智算自主生态强基行 动、高质量数据聚能行动、全域应用赋能行动、科学智能范式革新行动、具身智能全链跨越行动、创新生态引领行 动、开源开放聚力行动、安全治理护航行动，用两年左右时间实现人工智能核心产业规模突破万亿元，成为具有技 术策源力、产业竞争力的全球人工智能创新高地。 解读：在人工智能领域，北京实力有多强？ 作为我国人工智能创新资源最丰富的城市，最新数据显示，北京入围AI 2000全球最具影响力学者榜单的有148人， 占全国超40%，AI学者总量达1.5万人，占全国30%。在全球人工智能最具创新力城市中，北京高居第二。 1月5日，北京举办"2026北京人工智能创新高地建设推进会"。北京市发展改革委主任杨秀玲介绍，2025年，预计北 京人工智能核心产业规模达4500亿元，企业集聚超2500家，均占全国半数左右。 创新资源集聚也推动产业集群效应。目前，北京拥有人工智能领域上市企业近60家、独角兽约40家，国内市值最高 的人工智能独角兽，单笔融资额最大具身智能企业、科学智能企业，首个上市国产人工智能芯片企业和大模型企 业，都诞生在北京。 ...

每经记者｜刘艳美 每经编辑｜杨欢 1月5日，北京举办"2026北京人工智能创新高地建设推进会"。北京市发展改革委主任杨秀玲介绍，2025年，预计北京人工智能核心产业规模达4500亿元，企 业集聚超2500家，均占全国半数左右。 根据会上发布的《北京人工智能创新高地建设行动计划》，北京将实施技术创新策源行动、智算自主生态强基行动、高质量数据聚能行动、全域应用赋能行 动、科学智能范式革新行动、具身智能全链跨越行动、创新生态引领行动、开源开放聚力行动、安全治理护航行动，用两年左右时间实现人工智能核心产业 规模突破万亿元，成为具有技术策源力、产业竞争力的全球人工智能创新高地。 解读：在人工智能领域，北京实力有多强？ 作为我国人工智能创新资源最丰富的城市，最新数据显示，北京入围AI 2000全球最具影响力学者榜单的有148人，占全国超40%，AI学者总量达1.5万人，占 全国30%。在全球人工智能最具创新力城市中，北京高居第二。 创新资源集聚也推动产业集群效应。目前，北京拥有人工智能领域上市企业近60家、独角兽约40家，国内市值最高的人工智能独角兽，单笔融资额最大具身 智能企业、科学智能企业，首个上市国产人工智能芯片企 ...

新京报贝壳财经讯 1月5日，四川省人民政府办公厅印发《四川省国家数字经济创新发展试验区建设方 案》。方案提出，深入推进算电融合试点。坚持算电融合发展，加强数据中心集群建设与新能源发展、 电网建设的衔接，推进清洁能源基地与数据中心集群一体化协同布局。开展"绿电+算力"融合发展，支 持攀枝花、甘孜、阿坝、凉山等市(州)开展"算力—电力"协同试点试验，支持清洁能源富集地区就地布 局"绿电+算力+产业"园区。优化数据中心能耗结构，鼓励通过参与绿色电力交易、绿色电力证书交易 等方式提高可再生能源利用率。 ...

重要论述 要加快建设数字中国，构建以数据为关键要素的数字经济，推动实体经济和数字经济融合发展。 中央纪委国家监委网站 初英杰 众所周知，算力能耗巨大。算力与电力融合协同、绿色低碳发展，成为推动能源结构转型和数字经济融 合的关键路径。 将算力舱建在水电站的施工隧洞里，隧洞为算力设备提供"好房子"，绿色电力为算力舱提供零碳能源； 算力不仅提升了绿电就地消纳率，还有很多就地应用场景，其中之一便是为水电站搭建专业大模型而提 供服务……2025年12月19日，依托两河口水电站打造的"绿电+算力"融合项目——两河口算电融合示范 项目在四川省甘孜藏族自治州正式投运。 全国首个高海拔岩洞式算力舱智算中心——两河口算电融合示范项目2025年12月19日正式投运。雅砻江 公司供图 这是我国首个高海拔岩洞式算力舱智算中心，由国投集团雅砻江流域水电开发有限公司（以下简称"雅 砻江公司"）与中国电信股份有限公司四川分公司合作共建。算力设施与绿色电力相依相伴的背后，有 哪些重要突破，如何实现多方共赢？记者采访了项目有关负责人。 探索新路径—— 依托水电站施工隧洞，让算力设备住上"好房子" 四川省甘孜州雅江县境内，雅砻江干流之上，坐落着世 ...

据了解，两河口算电融合示范项目共部署了2000张国产算力芯片。项目投运后，雅砻江公司将用部分算 力搭建人工智能创新平台，开发气象预测、生产运维等专业大模型。中国电信自研算力既能满足自有系 统智算需求，还能通过智算调度平台"息壤"向需求单位输出高效算力服务。中国科学院等机构依托本项 目算力服务"高海拔宇宙线观测站（LHAASO）"，以人工智能突破粒子物理数据分析瓶颈，探索科学数 据高效处理模式。 12月19日，在四川水电装机突破1亿千瓦之际，雅砻江流域水风光一体化基地的首个算电融合项目，也 是全国首个高海拔岩洞式算力舱智算中心——两河口算电融合示范项目在四川省甘孜藏族自治州正式投 运。 这个项目由国投集团雅砻江流域水电开发有限公司与中国电信股份有限公司四川分公司合作共建。项目 总投资约3.5亿元，包括6个算力舱，提供峰值算力约600PFLOPS（每秒浮点运算60亿亿次），投运后将 为"绿电+算力"发展模式探索新路径，推动数字经济与绿色能源协同发展。 项目包括6个算力舱，提供峰值算力约600PFLOPS（每秒浮点运算60亿亿次）。（国投集团雅砻江公司 供图） "隧洞通风条件良好，温湿度常年保持恒定，天然形成'恒温 ...

Core Insights - The strategic value of China's western regions, particularly Ningxia, is being redefined due to the rise of computing power infrastructure and the increasing demand for green electricity [1][6] - *ST Baoshi, now known as Ningxia Guoyun New Energy, is positioned as a key player in the green electricity market and is crucial for the development of green electricity bases and power consumption systems in the region [2] Group 1: Company Overview - *ST Baoshi is the only listed platform for new energy in Ningxia and plays a significant role in the market-oriented development of green electricity [2] - The company has approximately 3 million kilowatts of installed wind and solar capacity, with an additional 10 million kilowatts from managed projects, aiming to become the largest power generation enterprise in Ningxia [3] Group 2: Energy Supply and Storage - The company is constructing three major energy storage stations with a total capacity of 640 MW/1280 MWh, which will support the stability of data centers and play a role in peak shaving and valley filling [4] - Ningxia's strategic positioning in the national energy system reform allows *ST Baoshi to leverage its advantages in direct supply of green electricity and participation in the electricity spot market [5] Group 3: Market Dynamics - The global trend towards "AI electrification" is reshaping the understanding of energy asset value, positioning companies like *ST Baoshi not just as traditional power generation entities but as potential energy suppliers for computing infrastructure [5][6] - The scarcity of green electricity assets in the capital market is expected to increase, providing opportunities for power generation companies to participate more in the computing ecosystem [6]

Core Viewpoint - Zhejiang Weiming Environmental Protection Co., Ltd. reported a slight decline in revenue but a growth in net profit, indicating strong operational resilience amid industry cost pressures [1] Financial Performance - For the first three quarters of 2025, the company achieved operating revenue of 5.88 billion yuan, a year-on-year decrease of 2.74% - Net profit attributable to shareholders was 2.14 billion yuan, a year-on-year increase of 1.14% - In Q3 alone, operating revenue reached 1.98 billion yuan, up 2.28% year-on-year, while net profit was 710 million yuan, up 3.23% year-on-year [1] Business Segments - The company has developed a collaborative industrial structure comprising three main segments: environmental governance, equipment manufacturing, and new energy materials - The environmental governance segment continued to show steady growth, with all operational projects maintaining normal production [1] Waste Management Operations - The company processed a total of 10.55 million tons of waste in the first three quarters, including 10.06 million tons of municipal waste, representing a year-on-year increase of 7.50% - The total electricity generated from waste incineration projects was 2.816 billion kWh, up 5.11% year-on-year - The company received 168 million yuan in national subsidy electricity fees and sold 342,500 green certificates during the reporting period [2] New Growth Areas - The company is exploring new growth avenues by integrating "green electricity + computing power," having signed strategic cooperation agreements with local governments and telecom operators to develop intelligent computing centers [2][3] - The projects in Longwan District are designed to process 1,800 tons of municipal waste daily, generating over 300 million kWh annually, which can support a high-performance computing center [3] Equipment Manufacturing - The equipment manufacturing segment showed strong growth, with new equipment orders totaling approximately 4.47 billion yuan in the first three quarters, indicating increased market recognition of the company's products [3] New Energy Materials - The new energy materials segment achieved significant milestones, with the subsidiary Jiaman obtaining sales licenses and generating 326 million yuan in revenue in Q3 - Zhejiang Weiming Shengqing Energy Materials Co., Ltd. reported revenue of 1.045 billion yuan in the first three quarters, although this revenue is not included in the company's total [4]

Core Viewpoint - The Sichuan Provincial Government has issued an implementation plan for the high-quality development of the technology service industry from 2025 to 2030, focusing on enhancing data management, computing power, software development, system operation, and network security services [1] Group 1: Data Infrastructure Development - Establish a comprehensive integrated big data center system to improve specialized service supply [1] - Encourage businesses to migrate operations and equipment to the cloud [1] - Regularly collect technology innovation needs from key industries to build high-quality data sets, corpora, and AI training environments [1] Group 2: Computing Power and Energy Integration - Optimize the provincial integrated computing power monitoring and scheduling service platform [1] - Develop the Tianfu Data Center cluster and regional computing power centers, aiming to include clean energy-rich areas in national planning [1] - Promote the integration of "green electricity + computing power" to support the national "East Data West Computing" strategy [1] Group 3: Manufacturing Digital Transformation - Implement the "Smart Transformation and Digital Transition" initiative in the manufacturing sector [1] - Strive to create a national-level digital transformation promotion center for manufacturing [1] - Build a one-stop, full-process, intelligent empowerment platform for digital transformation across the province [1] Group 4: Supply Chain Digitalization - Encourage leading enterprises to establish digital supply chain collaboration platforms [1] - Conduct pilot projects for penetrating digital supply chain management to drive "chain-style" transformation across the industry chain [1]

Core Viewpoint - The renewable energy industry in China is experiencing unprecedented growth opportunities, driven by policy support and increasing demand, particularly in the context of the "dual carbon" goals set five years ago [1] Group 1: Industry Trends - By the first half of 2025, China's renewable energy generation is expected to reach 1.80 trillion kWh, a year-on-year increase of approximately 15.6%, accounting for about 39.7% of total electricity generation [1] - New installations of wind and solar power are projected to exceed 500 GW in 2025, with cumulative installed capacity expected to surpass 3000 GW by 2030 [1] - The trend indicates a shift towards integrated energy solutions, as single-source generation profitability declines, while multi-energy complementary models show greater value creation potential [3] Group 2: Company Performance - Company reported a revenue of 2.4 billion RMB and a net profit of 400 million RMB for the first half of the year, reflecting a year-on-year growth of 6.5% [1] - The company’s grid-connected capacity reached 4799 MW, a 4.4% increase year-on-year, with distributed solar power showing a notable growth of 18.6% [2] - The company has successfully integrated wind, solar, and storage solutions, exemplified by a 200 MW project in Yunnan that combines photovoltaic generation with traditional agriculture [2] Group 3: Strategic Innovations - The company is pioneering an "electricity-computing integration" strategy, creating a closed-loop ecosystem of "green electricity + computing power" [4] - A representative project in Inner Mongolia utilizes local wind and solar resources to provide clean energy directly to data centers, addressing both energy production and consumption challenges [4] - The integration of renewable energy with digital infrastructure is seen as a critical direction for future growth, with significant increases in data center energy demands projected [5] Group 4: Financial Health - As of June 30, 2025, the company held approximately 4.1 billion RMB in cash and cash equivalents, with a current ratio of 1.94, indicating strong liquidity [5] - Financial expenses decreased by about 16% year-on-year, with a debt ratio of approximately 60% and basic earnings per share increasing by 4.0% to 0.1277 RMB [5] Group 5: Conclusion - The company is demonstrating strong growth potential through clear strategic positioning and robust industry collaboration, particularly in the integrated wind-solar-storage sector and innovative electricity-computing models [6] - The company's solid financial performance and operational excellence provide a strong foundation for future growth in the convergence of green energy and digital economy [6]

Core Viewpoint - The company held a half-year performance briefing on September 23, 2025, to communicate its operational results and financial status for the first half of 2025 with investors [2][3]. Group 1: Company Performance - The company operates in the photovoltaic and wind power generation industry, focusing on investment, construction, and operation of renewable energy power stations [4]. - As of the reporting period, the company had an approved installed capacity of 7.85 GW, a year-on-year increase of 12.85%, and a grid-connected installed capacity of 5.91 GW, up 23.98% [4]. - The total power generation reached 4.584 billion kWh, reflecting a 10.00% year-on-year growth, while revenue was approximately 1.922 billion, a 2.07% increase [4]. - The total profit for the reporting period was 560 million, down 8.53% year-on-year due to increased power restrictions and declining electricity prices [4]. Group 2: Financial and Strategic Outlook - The company received national subsidy funds totaling 1.199 billion, a 340.47% increase compared to the same period last year, which will positively impact cash flow [5]. - The company is implementing measures to optimize financial costs, including restructuring financing and utilizing low-cost funding channels [6]. - The strategic goals for the next 3-5 years include strengthening clean power, expanding low-carbon products, and enhancing operational efficiency through "green electricity + computing power" initiatives [8]. - The company plans to optimize its capital structure and reduce financial leverage, with an asset-liability ratio of 75.11%, slightly up from the beginning of the year [7]. Group 3: Shareholder Engagement and Market Position - The company’s major shareholders have completed their shareholding increase plan, acquiring 62,823,519 shares, representing 3.15% of the total share capital, with a total investment of 357 million [9]. - The company has established a regular dividend mechanism, with cumulative dividends of 347 million in 2023 and 393 million in 2024, reflecting 43.28% and 49.02% of net profit respectively [9].