Group 1: Investor Relations Activities - The investor relations activity was a roadshow held in Hefei, Anhui Province, with participation from various investment firms and analysts [2] - Notable participants included representatives from Guotai Junan, Galaxy Securities, and Southern Fund [2] Group 2: BEST Project Overview - The BEST project aims to achieve a Q factor of 1-5 and conduct deuterium-deuterium experiments after construction and debugging [3] - The core structure of BEST involves generating fusion reactions in a vacuum chamber to produce energy for electricity generation [3] Group 3: Company Operations and Market Insights - The frequency modulation market is expected to officially commence settlement operations in 2025 as it matures [3] - Subsidies for independent energy storage systems are outlined in the Anhui Development and Reform Commission document, with specific rates for discharge amounts in 2025 and 2026 [3] - A new 300MW wind power project is set to be operational in 2026, with no new coal power units expected to be added [3] Group 4: Future Growth Projections - The company has approximately 2GW of wind power projects under construction, with a goal to connect a large-scale photovoltaic project by the end of the year [3] - The Huabei Juneng Power and Zhongmei Xinjie Li'an Power Plant projects are expected to commence operations in the first half of next year [3]

Market Overview - The three major indices experienced slight adjustments, with the Shanghai Composite Index down 0.22%, Shenzhen Component Index down 0.44%, ChiNext Index down 0.15%, and the STAR Market 50 Index down 0.84%. Over 2,200 stocks rose in the two markets, with a total trading volume of approximately 2.15 trillion yuan [2]. Fujian Sector Performance - The Fujian sector saw significant gains, with Haixia Innovation rising by 19.97%, and Pingtan Development, Xiamen Port Authority, and Xiamen Airport all increasing by 10%. During the 2025 World Maritime Equipment Conference, Fujian Province signed 172 projects with a total investment exceeding 200 billion yuan [2]. Military Industry Insights - The military industry showed strong performance, with North China Long Dragon up 16.46% and Great Wall Military Industry up 10%. The growth in military spending and positive expectations for equipment procurement during the 14th Five-Year Plan are anticipated to drive orders in the fourth quarter [3]. New Energy and Lithium Battery Sector - The new energy and lithium battery sectors were active, with Jinyang Galaxy rising by 11.74% and multiple other companies seeing increases. Pacific Securities noted that the recent peak season and the explosion of energy storage are pushing the industry into an upward cycle, with battery production in October increasing by 10% month-on-month [4]. Nuclear Power Sector Developments - The nuclear power sector performed well, with Jieqiang Equipment rising over 10%. The Chinese government shared plans for the "artificial sun," expected to be completed by 2027, which could be the first device to achieve fusion power generation. This is expected to lead to a continuous release of orders in the nuclear power components sector during the 14th Five-Year Plan [5]. Declining Sectors - The precious metals and industrial metals sectors weakened, with Tongling Nonferrous Metals down 10% and Chifeng Jilong Gold Mining down 4.3%. The steel, securities, and semiconductor sectors also performed poorly, with Guoyuan Securities down 5.41% and Hanwha Techwin down 3.4% [5].