开工于"十四五"之初的2021年 是辽宁"十四五"期间 单体投资最大的清洁能源项目之一 徐大堡核电站 是目前我国纬度最高的核电站 相当于36万公顷森林1年的吸收量 待6台机组全部投产后 徐大堡核电每年可提供 540亿千瓦时以上的清洁电力 年节约燃煤1920万吨 年减排二氧化碳5670万吨 ...

日前，深圳市永联科技股份有限公司（以下称：永联科技）在海外建设的首个"光储充直柔"智能微电网场站正式投入运营，该场站是 永联科技携手约旦当地企业共同建造，由永联科技提供全系统产品和技术支持，将为约旦发展零碳能源做出重要贡献。 约旦地处中东，是该区域政治经济和文化生活等方面稳定重要国家之一，近年来，约旦政府高度重视能源结构转型，发布了《约旦能 源行业综合战略（2020-2030）》，以应对政治、经济、社会、技术、环境等多领域的挑战和变化，保障能源供应安全可持续。 本次永联科技与当地合作伙伴共同携手，于约旦成功落地首座以"光储充直流微网"为核心的智能微电网场站，该示范场站核心设备涵 盖PCS变换及直流配电控制柜、DCDC储能柜、DCDC充电堆及充电终端以及光伏输入单元，构建起一套完整、可靠的"零碳"能源生态。其 中，DCDC模块为永联科技自研的UXC10040、UXC95050B模块。整套系统通过储能柜电压支撑、充电堆下垂控制、光伏防过压、储能 SOC保护等核心关键的控制策略，全方位为场站稳定、高效、安全运行保驾护航。 项目以离网运行的模式为主要工作模式，系统优先利用光伏和储能供电，以"光伏优先、动态增容"为核心 ...

Company Overview - Longi Green Energy focuses on technological innovation, constructing business segments including monocrystalline silicon wafers, battery modules, distributed photovoltaic solutions, ground photovoltaic solutions, and hydrogen equipment, forming products and solutions that support global zero-carbon development with "green electricity" and "green hydrogen" [1] - The company has established production bases in China, Vietnam, and Malaysia, and sales offices in over 160 countries and regions, including the United States, Japan, India, Australia, the UAE, and Thailand [1] Energy Management Practices - Longi Green Energy monitors the efficiency of energy and resource usage, implementing various management documents such as the "Energy Management Manual" and "Energy Data Management Measures," and has established a leadership group for energy management led by the chairman [2] - The company conducts annual carbon verification and updates its greenhouse gas emission inventory, achieving third-party certification for five consecutive years [2] - Key measures include carbon emission accounting, energy management, and the construction of clean energy facilities, with the implementation of a comprehensive carbon emission data online management system [2] Energy Efficiency Initiatives - In 2024, Longi Green Energy will undertake 477 energy-saving technical transformation projects, expected to save approximately 426 million kWh of electricity annually, thereby reducing greenhouse gas emissions [2] - The company actively promotes energy-saving awareness and training among all employees, with specialized training for senior management [2] Zero Carbon Factory Development - In 2024, Longi Green Energy's Jiaxing base became the first zero-carbon factory in the industry, deploying a smart energy management system and advanced automated production equipment [3] - The unit product energy consumption at the Jiaxing base decreased by 24.6% year-on-year, with 26 energy-saving projects expected to save about 13 million kWh of electricity, equivalent to a reduction of 7,600 tons of carbon [3] - The rooftop solar power station at the Jiaxing base has a capacity of 17.03 MW, generating approximately 16 million kWh of electricity, accounting for 10.2% of total electricity consumption, resulting in a carbon reduction of 9,558 tons [3] Water Resource Management - Longi Green Energy focuses on the water footprint of its products, developing management plans to monitor water consumption intensity and exploring the construction of "zero discharge" factories [4] - In 2024, the company achieved a significant reduction in water consumption intensity across its production processes, particularly in the battery segment, with a decrease of 44.5% compared to 2023 [4] Expert Commentary - Longi Green Energy utilized 4.746 billion kWh of renewable electricity in 2024, resulting in a carbon reduction of over 2.54 million tons, with its Jiaxing base recognized as the first "lighthouse + zero carbon" factory in the photovoltaic industry [4]

来源：环球零碳 力全球首台氢氨双燃料燃气轮机下线。 慕帆动力成立于2015年11月，由总经理林钢领衔的德国海归团队创立，总部位于上海。这支团队深耕绿色能源领域，专注于新一代 零碳泛氢燃气轮机的研发。 在全球能源转型的关键节点，由上海慕帆动力科技有限公司（以下简称"慕帆动力"）自主研发的全球首台氢氨双燃料燃气轮机机 组，于9月在内蒙古赤峰基地顺利完成总装下线。 这一里程碑式事件标志着中国在零碳氢氨双燃料发电技术领域的重大突破。该机组将在基地内的"泛氢燃机试验中心"进行整机性能 试验，即将进入市场化应用阶段。 目前，已有来自德国、美国、澳大利亚等多个国家和地区的意向订单涌入，目前，这些订单主要来自能源转型需求旺盛的发达国 家。这预示着这一创新技术将迅速走向国际舞台。 图为慕帆动 慕帆动力响应国家"双碳"目标号召，致力于打破国外巨头在燃气轮机领域的技术垄断，确保中国在未来能源体系核心装备上的自主 可控。该产品具备100%自主知识产权和100%国产化零部件，工艺技术达到国际领先水平。单台机组年发电量最高可达7000万度， 利用氢氨作为燃料产生的零碳电力，成为传统能源转型和新能源消纳的理想解决方案。 这一成就不仅提升了 ...

Group 1 - The company, Beijing Longyuan Switchgear Co., Ltd., focuses on the research and manufacturing of environmentally friendly and intelligent high and low voltage switchgear and complete equipment, established in 1995 [3] - The company is recognized as a national high-tech enterprise and has received over 50 national invention and utility model patents, indicating strong innovation capabilities [3] - The company has participated in significant projects such as the 2008 Beijing Olympics and the 60th National Day Parade, showcasing its involvement in major national events [3] Group 2 - In 2024, the company invested 120 million yuan to establish a comprehensive platform for academic exchange, product research and development, market sales, and brand building at its headquarters project in the Zhongguancun Fangshan Park [5] - To align with the national "dual carbon" goals, the company invested over 2 million yuan to develop a distributed pure off-grid solar, electricity, and storage intelligent power supply system, achieving a zero-carbon energy supply for its factory [6] - The off-grid solar system operates independently without connecting to the grid, avoiding transformer capacity limitations and ensuring continuous power supply during grid failures, making it suitable for various large energy-consuming facilities [6]

Core Viewpoint - Biomass, often misunderstood as a high-pollution fuel, is recognized internationally as a zero-carbon energy source, with significant potential to replace fossil fuels and contribute to carbon neutrality goals [3][6]. Group 1: Biomass Energy Potential - China generates approximately 100 billion tons of biomass annually, which can be converted to over 50 billion tons of standard coal equivalent, highlighting its potential as a major energy source [1][3]. - The inclusion of "pure agricultural and forestry biomass grid-connected power generation and combined heat and power" in the national voluntary greenhouse gas emission reduction trading market (CCER) is expected to create unprecedented opportunities for the biomass energy industry [1][3]. Group 2: Misconceptions and Recognition - Traditional uses of biomass for cooking and heating have led to misconceptions about its pollution levels; however, proper utilization can significantly reduce emissions, positioning biomass as a stable renewable energy source [3][6]. - The recognition of agricultural biomass as a zero-carbon energy source, particularly in developed countries, is crucial for changing public perception and unlocking economic value [3][6]. Group 3: Technological Innovations - The biomass power generation industry has historically relied on government subsidies due to high raw material costs and inefficiencies; however, technological innovations, such as biomass gasification, can reduce costs and eliminate the need for subsidies [5][6]. - The future direction of biomass energy utilization should focus on high-value comprehensive applications, moving towards multi-product generation to enhance profitability [5][6]. Group 4: Policy Recommendations and Market Access - Recommendations include integrating forest resource protection with utilization, improving the supply chain for biomass, and enhancing the role of forestry workers in biomass energy production [6][7]. - Simplifying project approval processes and prioritizing grid access for biomass-generated energy are essential for the successful implementation of biomass technologies [7].

Core Viewpoint - Hong Kong Electric (港灯) reported a stable performance in its first half of 2025, with revenue slightly declining and net profit increasing, indicating resilience in its operations despite external challenges [1][2]. Financial Performance - For 1H25, the company achieved revenue of HKD 55.67 billion, a year-on-year decrease of 0.09%, while net profit attributable to shareholders was HKD 10.01 billion, reflecting a year-on-year increase of 5.70%, aligning closely with previous forecasts [1]. - The company declared an interim dividend of HKD 14.08 billion, maintaining the same level as the previous year, which corresponds to a dividend per share (DPS) of HKD 0.1594, also unchanged year-on-year [1]. Capital Expenditure and Future Outlook - Capital expenditure for 1H25 rose by 8% to HKD 14.82 billion, with a projected total capital expenditure of HKD 22 billion from 2024 to 2028, indicating a significant increase in future spending [3]. - The average annual capital expenditure for 2025-2028 is estimated at HKD 45.85 billion, representing a 25% increase compared to 2024 [3]. - The company is expected to benefit from its capital investments, with net profit anticipated to grow steadily due to the regulatory framework allowing for an 8% return on fixed assets [3]. Operational Efficiency and Development Plans - The company experienced a 3.2% decline in electricity sales volume in 1H25, attributed to weather conditions and the leap year in 2024 [2]. - Operational reliability remains high, with supply reliability exceeding 99.9999%, and over 90% of users covered by smart meter installations, expected to be completed by the end of 2025 [2]. - The development plan for 2024-2028 is progressing well, with the construction of a gas combined cycle generator and emergency oil-fired generators on schedule for completion between 2027 and 2029 [2]. Profit Forecast and Valuation - The company maintains its profit forecast, expecting net profits of HKD 33.4 billion, HKD 34.2 billion, and HKD 34.6 billion for 2025-2027, respectively [3]. - The target price has been adjusted to HKD 7.32, based on a price-to-book ratio (PB) of 1.30x for 2025, reflecting an increase from the previous valuation [3].

Investment Rating - The investment rating for the company is maintained as "Buy" [1][10]. Core Views - The company reported a revenue of HKD 5.567 billion for 1H25, a year-on-year decrease of 0.09%, while the net profit attributable to the parent company was HKD 1.001 billion, reflecting a year-on-year increase of 5.70%, aligning closely with previous forecasts [7]. - The company declared an interim dividend of HKD 1.408 billion, unchanged from the previous year, representing 100% of the distributable income [7]. - Capital expenditure for 1H25 increased by 8% to HKD 1.482 billion, with a projected average annual capital expenditure of HKD 4.585 billion from 2025 to 2028, indicating a 25% increase compared to 2024 [9][10]. Financial Performance Summary - **Revenue Forecasts**: Expected revenues for the upcoming years are projected as follows: HKD 12.057 billion in 2024, HKD 12.338 billion in 2025, HKD 12.838 billion in 2026, and HKD 12.983 billion in 2027, with growth rates of 5.71%, 2.33%, 4.05%, and 1.13% respectively [6]. - **Net Profit Forecasts**: The net profit attributable to the parent company is forecasted to be HKD 3.111 billion in 2024, HKD 3.342 billion in 2025, HKD 3.420 billion in 2026, and HKD 3.459 billion in 2027, with year-on-year changes of -1.43%, 7.41%, 2.34%, and 1.14% respectively [6]. - **Earnings Per Share (EPS)**: The expected EPS is projected to be HKD 0.35 in 2024, HKD 0.38 in 2025, and HKD 0.39 in both 2026 and 2027 [6]. Capital Expenditure and Development Plans - The company is progressing well with its five-year development plan, including the construction of a gas combined cycle power generation unit with a capacity of 380MW, expected to be operational by 2029 [8]. - The capital expenditure budget for 2024-2028 is estimated to reach HKD 22 billion, with a focus on maintaining high levels of capital investment to support future net profit growth [9][10]. Valuation Metrics - The target price for the company is set at HKD 7.32, based on a price-to-book ratio of 1.30x for 2025E [10]. - The company’s market capitalization is approximately HKD 55.05 billion, with a closing price of HKD 6.23 as of August 13 [3][4].

Core Viewpoint - The news highlights the innovative ecological restoration and renewable energy projects in Ordos, Inner Mongolia, focusing on the integration of photovoltaic power generation with ecological governance and sustainable agriculture. Group 1: Ecological Restoration Projects - The Tianjiao Green Energy project in Yijinhuoluo County utilizes a "photovoltaic + storage + ecological governance" model, generating approximately 900 million kWh of green electricity annually, saving over 300,000 tons of standard coal and reducing CO2 emissions by over 800,000 tons [1] - Ordos has implemented a new ecological restoration model combining "photovoltaic + ecological governance + organic agriculture + desert tourism," aiming to restore 4 million mu of desert land through photovoltaic projects [2] - The Ordos New Energy Research Institute focuses on creating a zero-carbon energy ecosystem, achieving significant technological advancements in renewable energy equipment [3] Group 2: Technological Innovations - The research institute has developed various electric and hybrid mining vehicles, establishing platforms for zero-carbon energy system design and low-carbon emission assessment [3] - The mining operations in Ordos have shifted towards prioritizing environmental protection, with 100% utilization of coal gangue and 100% reuse of mine water, achieving a significant reduction in energy consumption [3][4] - A project aimed at transforming coal gangue into ecologically beneficial soil has been initiated, promoting a closed-loop system for waste management [4] Group 3: Land Rehabilitation Efforts - Ordos has completed land reclamation of 202 square kilometers in open-pit mining areas and has established 39 ecological agriculture and breeding projects, along with 24 photovoltaic power generation projects [4]

Group 1 - The first national-level Meteorological Economy Expo was held in Hefei, focusing on integrating meteorology into the new economy and creating a collaborative future [1] - The expo gathered over 1,200 participants from various sectors including government, academia, and industries such as energy, finance, agriculture, and tourism [2] - The theme of the expo emphasizes the transition of meteorological services from basic support to becoming an economic engine, showcasing the potential of meteorology in modern economic systems [1][5] Group 2 - Keynote speakers highlighted the importance of transforming meteorological disaster reduction from passive rescue to proactive prevention, emphasizing precision forecasting and industry collaboration [5] - The expo featured over 100 companies from more than 20 sectors, demonstrating the deep integration of meteorological technology across various industries [7] - A special section for technology exchange was established to facilitate the conversion of scientific achievements into practical applications, supported by investment institutions [7] Group 3 - The event will continue until July 20, marking the tenth anniversary of the China Meteorological Service Association, which aims to elevate meteorological economy from an "invisible engine" to a "visible pillar" [8] - The expo included a series of specialized seminars covering topics like artificial weather modification and low-altitude economic meteorological support, fostering high-level exchanges among industry leaders [7][6]