Core Insights - Datong City is collaborating with Douyin Group to enhance strategic cooperation in areas such as green electricity computing power, cultural tourism integration, and new consumption models, aiming to inject "digital intelligence new momentum" into the city's transformation [1][2][10] Group 1: Strategic Cooperation - The meeting between Datong's mayor and Douyin Group's regional manager focused on consolidating cooperation results and expanding collaboration areas, emphasizing the importance of leveraging data, technology, and marketing advantages [2][3] - Douyin Group expressed confidence in deepening practical cooperation with Datong, particularly in the computing power industry and cultural tourism [3][4] Group 2: Green Electricity and Computing Power - Datong aims to build a green electricity direct connection computing power center, integrating energy and computing power to capitalize on the renewable energy transition [6][10] - As of May 2023, Datong's renewable energy capacity exceeded 10 million kilowatts, accounting for over 56% of the city's total power generation, with significant wind power contributions [10] Group 3: Development of Computing Power Industry - Datong has been laying the groundwork for the computing power industry since 2017, with various projects and policies supporting its development, including the establishment of a national data labeling base [14][16] - By the end of 2024, Datong plans to have a total investment of 76 billion yuan in data centers, with over 680,000 servers operational and a significant increase in electricity consumption for data centers [16]

Core Viewpoint - The training session held in Taiyuan aims to promote the high-quality construction of green electricity parks in Shanxi Province, integrating green finance to support this initiative [1][2][3] Group 1: Policy and Strategic Goals - The construction of green electricity parks is a key strategy for Shanxi Province to transition from a coal-dominated economy to a cleaner, low-carbon model [1] - The provincial government emphasizes the need for precise project attraction, focusing on leading and key industries, and utilizing green electricity advantages to attract industrial transfers from eastern regions [2] Group 2: Financial Support and Innovation - Shanxi Financial Investment Holding Group has been actively enhancing green financial services, utilizing tools such as green funds, green bonds, and green leasing to strengthen investment and financing support [2] - The group is exploring innovative financial solutions, including an integrated service system for electricity and carbon management, to provide tailored services for green electricity parks [2] Group 3: Training and Collaboration - The training aims to enhance participants' understanding of policies and financial tools related to green electricity parks, fostering practical applications to accelerate project implementation [3] - A collaboration agreement was reached between Shanxi Financial Investment Holding Group and the European CBAM core certification agency, aiming to provide internationally recognized green electricity traceability certification services for renewable energy projects [3] - The establishment of the "Green Electricity Park Innovation Service Alliance" was promoted, bringing together partners from various fields to offer integrated professional services throughout the planning, construction, and operation of green electricity parks [3]

Core Viewpoint - The training program held in Shanxi aims to enhance the understanding and implementation of green electricity parks, which are crucial for the province's transformation and the development of a new energy system [4][6]. Group 1: Training Program Details - The training was organized by the Shanxi Provincial Energy Bureau, Shanxi Provincial Department of Commerce, and Shanxi Financial Investment Holding Group, focusing on the construction of green electricity parks [4]. - The program included thematic presentations and practical operations covering topics such as policy interpretation, financial empowerment, design schemes, and case studies of successful green electricity projects [6]. Group 2: Financial Support and Collaboration - Financial support is essential for the construction of green electricity parks, with Shanxi Financial Investment Holding Group emphasizing its role in providing comprehensive financial services [6][7]. - The group has established partnerships with international organizations, such as the South German Group, to offer internationally recognized green electricity certification services for renewable energy projects [7]. - Initiatives include providing carbon asset trading services and developing a carbon credit evaluation system to support enterprises in carbon reduction and management [7].

Core Viewpoint - The forum emphasized the importance of flexible resources in promoting the consumption of renewable energy, highlighting the need for innovative green electricity mechanisms, particularly through green electricity parks [2][3]. Group 1: Renewable Energy Development - The rapid development of renewable energy is crucial for China's green and low-carbon energy transition and national energy security [2]. - New energy's volatility and uncertainty pose challenges to power system operations, necessitating significant adjustment capabilities [2][3]. - The establishment of collaborative mechanisms involving government, power enterprises, high-energy-consuming industries, and research institutions is essential for promoting green electricity consumption [2][3]. Group 2: Green Electricity Parks - Shanxi Province has initiated the construction of 13 pilot green electricity parks, leveraging its abundant wind and solar resources, extensive coal power assets, and developing energy storage projects [2]. - The Longzhi High-tech Zone green electricity park aims for an investment of over 10 billion yuan and a production value exceeding 10 billion yuan, with projects including distributed solar and wind power [5]. Group 3: Technological Innovations and Challenges - The Taoyuan Zero Carbon Airport project exemplifies significant technological breakthroughs in achieving zero-carbon operations through solar energy and geothermal heating [5]. - The development of zero-carbon parks faces challenges such as funding and technology, particularly in balancing energy supply, low-carbon goals, and economic viability [5]. Group 4: Market Mechanisms and Flexibility - New flexible resources, such as virtual power plants and green parks, play a critical role in balancing electricity supply and demand, enhancing system stability and reliability [3]. - The current market mechanisms need to adapt to the challenges posed by the large-scale integration of renewable energy, including real-time balancing and economic incentives for regulatory resources [3][4]. Group 5: Industry Collaboration and Future Outlook - The green electricity industry is moving towards a more integrated approach, combining renewable energy generation with energy storage and consumption [6]. - Companies are shifting from traditional investment models to energy services, focusing on virtual power plants and flexible resource applications [6].

Core Viewpoint - Shanxi is transforming from a traditional energy base to a green development pioneer, focusing on low-carbon transition through the establishment of green electricity parks, which are designed to achieve local consumption and industrial upgrades [1][3][4]. Green Electricity Parks Development - In 2024, Shanxi's green electricity transaction volume is projected to reach 75.4 billion kWh, maintaining the top position in the country for two consecutive years, while the external supply of renewable energy is expected to hit a historical peak of 164.4 billion kWh [3]. - The establishment of green electricity parks is supported by national policies aimed at promoting high-quality development of renewable energy and encouraging 100% green electricity consumption in designated areas [3][6]. - Shanxi has initiated the concept of green electricity parks, aiming to convert its resource advantages into developmental strengths, thus creating a new high ground for the integration of green electricity and industry [7][8]. Policy and Innovation - A comprehensive policy framework has been established, with the Shanxi Provincial Energy Bureau releasing a work plan to promote local conversion of green electricity resources [7]. - The "one park, one policy" approach is being implemented, allowing for tailored strategies for different green electricity parks, which enhances the effectiveness of the transition from coal to green energy [10][12]. Economic and Industrial Impact - The green electricity parks are expected to attract significant investments, with planned industrial projects exceeding 100 billion yuan, thus reshaping Shanxi's economic landscape from resource output to green premium [14][17]. - The parks are designed to meet the dual demands of enterprises for green electricity and economic viability, facilitating the transfer of industries from the central and eastern regions of China [6][8]. Future Outlook - By 2030, Shanxi aims to establish a series of differentiated green electricity parks and projects, further enhancing its role as a model for resource-based economic transformation [17]. - The ongoing development of green electricity parks is anticipated to not only support local economic growth but also provide a replicable model for similar regions across the country [17].

Group 1 - The construction of green power parks is transitioning from a conceptual idea to a practical reality, driven by government policies aimed at promoting renewable energy consumption and increasing the proportion of green electricity [1] - Green power parks emphasize the use of clean energy sources such as solar, wind, and hydropower, aligning with the "dual carbon" goals to accelerate the establishment of a new energy system and promote green low-carbon development [1] - The development of green power parks presents both opportunities and challenges, facilitating industrial upgrades, energy transitions, and cost control [1] Group 2 - The establishment of green power parks is still a novel concept, requiring tailored approaches that consider local energy and industrial structures to ensure effective supply and demand matching [2] - Successful green power parks depend on strong renewable energy supply capabilities and alignment with key energy-consuming industries, addressing issues like energy wastage and shortages [2] - Some regions are strategically placing renewable energy projects in areas like mining subsidence zones and deserts to lower electricity costs and enhance market competitiveness [2] Group 3 - Accelerating the construction of green power parks necessitates collaboration between government initiatives and market mechanisms, requiring investment and engagement from various stakeholders [3] - Government policies should guide expectations and promote high-quality renewable energy development, while also encouraging social capital investment in market-oriented management of the parks [3] - To address the variability in renewable energy generation, integrated energy solutions and extensive energy storage facilities are essential for enhancing the supply capabilities of green power parks [3]

Core Viewpoint - The development of green electricity parks is transitioning from a conceptual phase to practical implementation, driven by government policies aimed at promoting renewable energy consumption and establishing a new energy system [1][2]. Group 1: Policy and Development - The National Development and Reform Commission and the National Energy Administration have issued guidelines to promote the high-quality development of the renewable energy green power certificate market, advocating for a gradual increase in the proportion of green electricity consumption [1]. - The construction of green electricity parks emphasizes the use of clean energy sources such as solar, wind, and hydropower, aligning with the "dual carbon" goals to facilitate energy transition and industrial upgrades [1][2]. Group 2: Economic and Ecological Considerations - Green electricity parks should be developed based on local conditions, ensuring a strong supply of renewable energy while matching the energy needs of key industries like steel, non-ferrous metals, and data centers, thus addressing both energy surplus and shortage issues [2]. - The aim is to convert renewable energy advantages into economic benefits by optimizing land and capital costs, controlling scale, and enhancing ecological restoration, which can improve market competitiveness and attract investment [2]. Group 3: Collaborative Efforts - Accelerating the construction of green electricity parks requires significant investment and the mobilization of various stakeholders, with government support being crucial for guiding policy and promoting renewable energy development [3]. - The integration of multiple energy sources and the establishment of storage facilities are essential to address the volatility of renewable energy generation, enhancing the supply capabilities of green electricity parks [3].

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Viewpoints - The weak market trends of coke and coking coal futures continue, and there may still be new lows in the next two weeks. However, positive factors in the fundamentals and news are gradually accumulating. Attention should be paid to whether a bottom - rebounding turning point can occur in about the next two weeks due to changes in tariff policies and the restoration of confidence in the steel market [11][12]. 3. Summary by Sections 3.1 Market Review and Future Outlook - **Market Performance on May 27**: The main contract 2509 of coke futures narrowed its decline after reaching a low, and the main contract 2509 of coking coal futures first declined and then rose, hitting new lows for September contracts since January 2017 and September 2016 respectively [7]. - **Spot Market and Technical Analysis**: The daily KDJ indicators of the coke 2509 contract continued to diverge, with the J - value rising, the K - value turning up, and the D - value falling, showing a potential golden cross. For the coking coal 2509 contract, the J - and K - values continued to rise, and the D - value continued to fall, approaching a golden cross. The daily MACD green bar of the coke 2509 contract continued to slightly expand, while that of the coking coal 2509 contract began to narrow. On the same day, the ex - warehouse price index of quasi - first - grade metallurgical coke remained unchanged in major ports, and the aggregated price of low - sulfur main coking coal in some areas decreased [10]. - **Future Outlook for Coke**: In the past five weeks, the coke output of independent coking plants has hovered near the highest level since early August last year, while the coke output of steel mills has slightly declined since late April. Port coke inventories have significantly decreased, but the inventory reduction speed of steel mills and coking plants is slow, adding downward pressure on coke prices. After two weeks of profit, the profit per ton of coke turned into a loss [11]. - **Future Outlook for Coking Coal**: From January to April, the year - on - year growth of coking coal imports turned negative, but the absolute import volume remained high, and the overall loose supply pattern was difficult to reverse. The raw coal inventory of coal washing plants increased significantly, and the clean coal inventory rose again to a relatively high level. In the past five weeks, the inventory of independent coking plants decreased significantly, and port inventories returned to normal levels before early August last year, but steel mill inventories increased steadily. If coking plants also adopt inventory reduction strategies, coking coal prices are likely to fall [11]. - **News Impact**: The National Development and Reform Commission will continue to promote urban renewal and issue the central budget investment plan for urban renewal in 2025 by the end of June. The rising US Treasury bond auction interest rate led to a triple - kill in the US stock, bond, and foreign exchange markets, reducing the risk appetite in the international financial market [11]. 3.2 Industry News - **Industrial Profits**: From January to April 2025, the total profit of industrial enterprises above the designated size in China was 2.11702 trillion yuan, a year - on - year increase of 1.4%. The mining industry's profit was 287.5 billion yuan, a year - on - year decrease of 26.8%; the manufacturing industry's profit was 1.55493 trillion yuan, an increase of 8.6%; and the power, heat, gas, and water production and supply industry's profit was 274.58 billion yuan, an increase of 4.4% [13]. - **Environmental Protection Inspection**: On May 26, the fourth batch of the third - round central environmental protection inspections was launched, covering five provinces (regions) and three central enterprises [13]. - **Ningxia's Industrial Data**: From January to April, Ningxia's industrial coal production decreased by 3.0% year - on - year, while sales increased by 3.8%. Industrial power generation increased by 5.6%, with renewable energy power generation growing by 21.3% [14]. - **Ningxia's Energy Plan**: Ningxia plans to increase fossil energy supply, develop new energy, and promote energy storage construction. It also aims to achieve energy - saving and carbon - reduction goals in key industries by the end of 2025 [14]. - **Corporate Strategies**: Shanxi Coking Coal will implement a "three - matching" production strategy, and Chongqing Iron and Steel terminated the absorption and merger of Xingang Changlong [14][15]. - **Automobile Sales**: In April 2025, global automobile sales reached 7.56 million units, a year - on - year increase of 5%. From January to April, sales were 30.26 million units, a year - on - year increase of 5%. China accounted for 33% of global sales from January to April [15]. - **Coal Market Research**: From January to April 2025, the coal market showed a marginal slowdown in supply growth and stronger non - power demand than power demand. It is expected that the coal price may recover in the summer [15]. - **International News**: South Africa plans to import liquefied natural gas from the US, and the European Central Bank President called for reforms to reduce Europe's impact from international order changes [15]. 3.3 Data Overview The report provides multiple charts showing data on the spot price index of metallurgical coke, the aggregated price of main coking coal, production and utilization rates of coking plants and steel mills, iron water production, inventory levels of coke and coking coal, and basis differences [16][17][19][30][34][35].

Core Insights - Ningxia plans to initiate new projects totaling 24.26 million kilowatts in 2024 and 21.85 million kilowatts in 2025, with current renewable energy installations reaching 44.56 million kilowatts, accounting for 57% of the region's total power capacity [1][4]. Group 1: Renewable Energy Development - The region has developed four major green electricity park plans focusing on modern coal chemical, silicon-based, aluminum-manganese, and big data computing industries, aiming to significantly increase the share of green electricity by 2027 [4]. - In 2024, 6.74 million kilowatts and in 2025, 7.02 million kilowatts of green electricity park projects are included in the annual renewable energy development plan [4]. - Currently, 9.49 million kilowatts have been approved and recorded, with 7.56 million kilowatts under construction and 0.5 million kilowatts already operational [4]. Group 2: Energy Efficiency and Emission Reduction - Ningxia aims to enhance energy efficiency by 10% to 20% through the introduction of advanced gasification technology and waste heat recovery systems in coal chemical enterprises, significantly reducing energy consumption and CO2 emissions [4]. - The region is committed to aligning with national advanced standards and increasing investment in energy-saving technological upgrades [4]. Group 3: Coal Production and Infrastructure Development - The government plans to expedite the construction of approved coal mine projects, including the expansion of Weisan and Yinxing No. 1 wells, aiming for coal production to exceed 105 million tons by 2025 [5]. - The construction of the Ningxia section of the West-to-East Gas Pipeline Phase III will enhance the natural gas emergency peak-shaving capacity through a multi-source and multi-pipeline network [5]. - Efforts will be made to ensure a 100% startup rate for projects included in the annual development plan and a production rate exceeding 70% [5].

Core Viewpoint - Ningxia is advancing the construction of green electricity parks, leveraging the entire new energy industry chain to build a clean, low-carbon, safe, and efficient new energy system, becoming the first province in China to promote this initiative at the provincial level [1][2] Group 1: New Energy Development - Ningxia has a complete coal, electricity, chemical, and new energy industry chain, making it a significant base for modern coal chemical innovation and a key hub for "West-to-East Power Transmission" and "West-to-East Gas Transmission" [1] - The installed capacity of new energy in Ningxia has reached 44.56 million kilowatts, accounting for 57% of the total installed power capacity in the region [1] Group 2: Coal and Gas Production - The government plans to increase coal production capacity, aiming for a coal output of over 105 million tons by 2025, with ongoing projects like the expansion of Weisan and Yinxing coal mines [1] - Natural gas production is also set to increase, with an additional capacity of 300 million cubic meters planned by 2025, targeting a total output of 800 million cubic meters [1] Group 3: Energy Storage Initiatives - By 2025, Ningxia aims to add 3 million kilowatts of new energy storage, exploring the construction of large-scale storage stations in energy-rich areas [2] - The region is optimizing the layout of storage stations and enhancing the participation of independent storage in the market, with a goal to increase the comprehensive utilization hours of storage to over 1,100 hours [2] Group 4: Energy Efficiency and Carbon Reduction - Ningxia is committed to energy-saving and carbon reduction in high-energy-consuming industries, targeting a benchmark efficiency level of 30% for steel, electrolytic aluminum, synthetic ammonia, and refining industries by the end of 2025 [2] - The region is also focused on building zero-carbon and low-carbon parks, implementing special actions for energy-saving and carbon reduction in key industries [2]