Core Viewpoint - China General Nuclear Power Group (CGN) actively promotes the integration of clean energy development and marine ecological protection, showcasing its commitment to sustainable marine development at the UN Ocean Conference in Nice, France [1][4]. Group 1: Clean Energy Initiatives - CGN has developed a total installed capacity of 4.74 million kilowatts in offshore clean energy, including nearly 20 offshore wind and solar projects, with an expected annual power generation of 14.8 billion kilowatt-hours, sufficient to meet the annual electricity needs of over 8 million households [2]. - The company has innovatively integrated offshore wind power with marine ranching, exemplified by the Laizhou 304MW offshore wind project, which promotes a symbiotic model of "blue energy + offshore grain warehouse" [2][3]. - CGN's offshore wind and marine ranching projects, such as the "Fuxi No. 1" platform in Guangdong, are designed to withstand typhoons and are expected to generate an annual output value of 54 million yuan [2]. Group 2: Marine Biodiversity Protection - The release of the "CGN Marine Biodiversity Protection White Paper" during the conference highlights CGN's practices in balancing clean energy development with marine ecological protection [4]. - CGN has established a comprehensive ecological monitoring and assessment system around its nuclear power bases, ensuring the growth of over 200 species of marine flora and fauna, including 15 species of coral [5]. - The company advocates for a "nature-positive" approach, focusing on proactive restoration rather than merely reducing damage, and has implemented dual mangrove protection mechanisms at its facilities [5]. Group 3: Global Collaboration and Recognition - Experts from the Green Ocean Institute and other organizations have praised CGN's innovative approach to integrating marine energy with ecological health, suggesting that similar practices could yield significant economic benefits in other regions, such as France [6]. - The "Blue Guardianship, Coexisting Future" exhibition showcased CGN's achievements in marine ecological protection, attracting global attention and highlighting the company's role in fostering collaboration between the corporate and scientific communities [8].

Core Viewpoint - The development of a modern marine industry system in Lianyungang is crucial for enhancing the city's economic growth and aligning with national strategies for building a strong marine nation [1][2]. Group 1: Marine Economic Development - Lianyungang's marine area covers 7,516 square kilometers, with a coastline of 195.88 kilometers, emphasizing its reliance on marine resources for future growth [2]. - The marine production value in Lianyungang is projected to reach around 120 billion yuan in 2024, accounting for over 25% of the regional GDP [2]. - The city aims to enhance its marine economy by focusing on industry strength, technological advancement, and ecological protection [3]. Group 2: Industrial Transformation - Lianyungang is actively improving its marine fisheries, developing marine tourism, and upgrading traditional industries while also expanding large-scale port industries like petrochemicals [3]. - The city is fostering marine innovation through talent programs and technological breakthroughs in areas such as offshore wind power and seawater utilization [3][4]. - Recent developments include the successful launch of an 8,500-ton bulk carrier and the establishment of a pure electric tugboat demonstration base [4]. Group 3: Urban and Economic Integration - The integration of port, industry, and city development is a key strategy for Lianyungang, enhancing its openness and facilitating domestic and international circulation [4][5]. - The city is leveraging its ecological resources to enhance urban features and promote tourism, making it an attractive destination for leisure [5]. - Lianyungang is developing a competitive "blue" new materials industry cluster and exploring integrated projects in renewable energy [5].

Group 1 - The "Regulations on Promoting High-Quality Development of the Marine Economy in Guangdong Province" has been approved and will take effect on July 1, marking the first local legislation aimed at promoting marine economic development in Guangdong [1] - The regulations consist of seven chapters and fifty-three articles, focusing on marine industry development, technological innovation, green development, open cooperation, and comprehensive service and support [1][2] - The regulations require coastal governments to coordinate the development of land and marine resources, implement classified protection and utilization of coastlines, and optimize the spatial layout of the marine economy [1][3] Group 2 - The regulations encourage the development of emerging marine industries, guiding electronic information companies to expand into marine fields and enhance the R&D capabilities of high-end marine electronic equipment [2] - There is a focus on promoting marine engineering equipment manufacturing, encouraging breakthroughs in key technologies, and supporting the development of new marine equipment such as submersibles and underwater robots [2] - The regulations also include provisions for modern marine ranching, emphasizing the establishment of supporting infrastructure and a mechanism for approving marine use for aquaculture [2] Group 3 - The regulations aim to strengthen the control of marine ecological space and marine development utilization, improving protection levels and efficiency of coastline use [3] - Coastal governments are required to enhance overall marine ecological environment protection and promote systematic protection of typical marine ecological types such as mangroves and coral reefs [3] - The regulations mandate the establishment of a balance system for coastline occupation and restoration, along with a funding mechanism for coastline remediation [3] Group 4 - The provincial government is tasked with conducting basic investigations and surveys of marine resources, while supporting the construction of marine data spaces [4] - Governments at or above the county level must ensure land and marine use for marine projects according to land spatial planning [4] - The regulations also detail the optimization of approval procedures for certain marine projects and the valuation and bidding processes for marine and uninhabited island usage rights [4]

中国发展网讯 鲁利韦 聂金秀 记者罗勉报道 今年6月8日是第17个"世界海洋日"和第18个"全国海洋宣传 日"，海洋是汕头市高质量发展的战略要地，据了解，近年来，汕头市统筹推进海洋资源开发利用以及 海洋生态保护等工作，大力推进海上风电产业发展，成效显著，截至目前建成3个海上风电场，获得经 济效益与生态效益双丰收，为广东省乃至全国海洋经济高质量发展贡献"汕头力量"。 由大唐汕头新能源有限公司开发建设的南澳勒门Ⅰ扩建风电场目前已全容量并网发电，成为汕头市第三 个建成投产的海上风电场。该风电场总容量35.4万千瓦，安装26台13兆瓦和1台16兆瓦风机，这是大唐 集团投运的单机容量最大的海上风电项目，也是粤东地区首个批量化应用13兆瓦风机、首个采用16兆瓦 超大容量风机的项目。大唐汕头新能源有限公司党委委员、副总经理陈树一介绍说，项目建设高峰期投 入了50艘作业船、800余人同时奋战，并调配了国内最先进的4艘吊装船和1艘敷缆船。项目团队仅用4天 完成海陆设备联调，实现了从首台风机沉桩到并网发电仅93天的"超速度"。项目投资大，与上下游产业 关联度高，将带动风电设备制造、安装、运维等相关产业发展，助推形成汕头市海上风电 ...

Core Viewpoint - Guangdong is set to achieve a marine economy GDP exceeding 2 trillion yuan in 2024, maintaining its position as a leader in China's marine economy for 30 consecutive years, contributing one-fifth of the national marine economy GDP and one-seventh of the regional GDP [1] Group 1: Modern Marine Industry System - Guangdong has established a comprehensive modern marine industry system with 6 out of 15 major marine industries ranking in the top three nationally, and emerging marine industries growing at an average annual rate of 14.7% over the past five years [3] - Traditional marine industries have seen an increase in value added exceeding 680 billion yuan, with a year-on-year growth of 7.5%, and the emergence of trillion-level offshore ranches and oil fields [3] - Since 2018, the provincial government has allocated 2 billion yuan in special funds to support the development of six major marine industries, resulting in 315 innovative projects and generating approximately 21.8 billion yuan in industrial output [3] Group 2: Five-Pronged Approach to Marine Economic Development - The Guangdong Provincial Committee emphasizes the goal of building a strong marine province and has established a work committee to oversee marine economic development, implementing a three-year action plan for marine strength [5] - The province has introduced a spatial planning framework to optimize marine industry development, including the "Guangdong Coastal Zone and Marine Spatial Planning (2021-2035)" to promote a balanced marine spatial layout [5] - The province aims to enhance collaboration between traditional industries and emerging sectors, leveraging state-owned and leading enterprises to drive growth in marine shipping and petrochemical industries [6] Group 3: Infrastructure and Environmental Protection - Guangdong is focusing on creating a modern marine city development pattern, integrating port, industry, and urban planning to enhance marine economic activities [6] - The province has approved the use of 27,500 hectares of marine area in 2024, marking a 78% year-on-year increase, while also implementing various measures for coastal protection and restoration [6] - The establishment of provincial marine laboratories and national-level innovation platforms aims to foster technological advancements in marine science and industry [7]

Group 1 - Yancheng is a pioneer in green development, actively constructing zero-carbon parks to enhance its green development profile [1][2] - The city has a robust plan for zero-carbon industrial parks, focusing on clean energy substitution, resource recycling, and carbon capture [2][4] - Yancheng's renewable energy generation capacity reached 16.75 million kilowatts, with offshore wind power accounting for approximately 10% of global capacity and 20% of national capacity [2][4] Group 2 - Yancheng has attracted 47 wind power equipment enterprises, forming the largest offshore wind power industrial cluster in China, with production capacities of 40% and 20% of the national total for complete machines and blades, respectively [4][5] - The city is expanding into new energy sectors, including cold energy, green hydrogen, and green methanol, with projects aimed at integrating these technologies [4][5] - The development of the Guoxin Dafeng 850,000-kilowatt offshore wind power project marks a significant step in sustainable marine resource utilization [5] Group 3 - Yancheng is focused on innovation-driven development, establishing a carbon management platform and aligning with international green trade standards [6] - The city has released local standards for zero-carbon industrial parks and is advancing carbon footprint certification for photovoltaic products [6] - Yancheng is constructing a high-standard green low-carbon innovation park, aiming to create a matrix of high-energy innovation platforms [6][7]

Core Insights - The Guangdong Province's marine economy continues to lead the nation, with a marine GDP of 20,022.5 billion yuan in 2024, reflecting a nominal growth of 5.4% year-on-year, contributing 14.1% to the regional GDP and 19.0% to the national marine GDP [1][2] - The province's marine economy has been a stabilizing force for the overall economic landscape, contributing 27.3% to the nominal growth of the regional economy in the previous year [1] - Guangdong has implemented various initiatives to promote high-quality development in the marine economy, including the establishment of marine development bureaus and the introduction of new regulations [1][6] Marine Economic Highlights - The marine tertiary industry structure in Guangdong is showing continuous improvement, with a ratio of 3.4:31.0:65.6 for the primary, secondary, and tertiary industries respectively in 2024 [2] - The added value of the marine primary industry reached 68.21 billion yuan, with a nominal growth of 3.8%, while the secondary industry added value was 620.26 billion yuan, also growing by 3.8%. The tertiary industry saw an added value of 1,313.78 billion yuan, with a growth of 6.2% [2] - Emerging marine industries contributed significantly, with an added value of 41.1 billion yuan, reflecting an 8% nominal growth [2] Wind Power and Renewable Energy - Guangdong's offshore wind power capacity surpassed 12 million kilowatts in 2024, ranking first in the nation, and contributing to a 26.7% nominal growth in the marine power industry [3] - The installation of the largest floating wind power platform and the completion of significant offshore wind projects highlight the province's commitment to renewable energy [3] Enterprise Development - The number of marine-related enterprises in Guangdong has exceeded 80,000, with a stable growth in the number of "four above" enterprises, which are key contributors to the marine economy [5] - The provincial government has invested nearly 2 billion yuan in marine engineering and innovation, leading to breakthroughs in 281 key technologies and generating an industrial output value of 25.2 billion yuan [5] Regulatory Framework - The "Guangdong Provincial Regulation on Promoting High-Quality Development of the Marine Economy" will take effect on July 1, providing a legal framework to support marine enterprises and streamline management [6] - The regulation aims to address the challenges of fragmented marine management and establish a coordinated mechanism for marine economic work [6] Policy Initiatives - Recent policies have focused on enhancing marine resource management and facilitating the establishment of modern marine ranches, improving efficiency in marine project approvals [7] - The implementation of the "Guangdong Province Coastline and Marine Spatial Planning (2021-2035)" aims to optimize the layout of marine industries and ensure sustainable development [7]

证券研究报告|行业研究周报 [Table_Date] 2025 年 6 月 8 日 [Table_Title] 特高压建设持续推进，固态电池产业化加速 [Table_Title2] 电力设备与新能源行业周观察 [Table_Summary] 报告摘要 1.人形机器人 机器人触觉传感发展持续更新 触觉感知技术对确保灵巧手与人、环境之间的安全交互以及智 能控制起着至关重要的作用，其核心是触觉传感器。目前触觉 传感器市场以海外企业为主导，国内企业在技术研发和市场开 拓方面不断努力，逐渐崭露头角。我们认为，触觉传感器应用 是人形机器人商业化应用的关键因素，随着人形机器人迎来量 产落地时点，具备技术领先优势&成本优势的企业有望深度受 益。 2.新能源汽车 固态电池产业化进程持续推进 我们认为，电池技术的升级迭代始终是终端需求扩大的核心推 动力，固态电池凭借高能量密度以及高安全性等优势，成为确 定性的下一代电池技术方向。随着电池技术的成熟以及产业链 配套的完善，固态相关新产品有望陆续发布、产能建设不断落 地、终端性能预计持续获得验证，固态电池的产业化进程加 速。材料、电池、设备等全产业链各环节均有望实现迭代升 级，看好具 ...

Core Insights - The marine economy in China is projected to exceed 10 trillion yuan for the first time in 2024, with a first-quarter marine GDP of 2.5 trillion yuan, reflecting a year-on-year growth of 5.7% [1][2] - The marine industry is developing steadily, with new production capacities emerging, contributing significantly to China's economic growth [1][2] Marine Industry Development - The establishment of the Dragon Qi Bay marine ranch in Hainan, covering 350 hectares, includes smart aquaculture platforms and a seafood processing plant, aiming to enhance both fishing and tourism experiences [2] - The marine production value is expected to account for 7.8% of the national GDP by 2024 [2] Emerging Marine Industries - The marine biopharmaceutical sector is making strides, with clinical trials for a new anti-tumor drug, BG136, underway, supported by local government initiatives [3] - The development of marine engineering equipment is on the rise, with significant increases in new orders and delivery amounts in the first quarter [5] Technological Advancements - The "Snow Dragon 2" icebreaker has set a record for the longest single mission in China's polar exploration history, enhancing international cooperation in polar research [4] - The "Tongjun" dredger, designed for high-capacity operations, is set to launch in 2025, featuring advanced intelligent dredging systems [6] Policy and Strategic Initiatives - Hainan aims to develop deep-sea technology and marine intelligent equipment manufacturing over the next decade, leveraging its unique deep-sea resources [7] - Various regions, including Qingdao and Tianjin, are implementing policies to optimize marine economic development, focusing on technology innovation and industrial upgrades [8]

Core Viewpoint - The report from CITIC Securities indicates that the domestic offshore wind sector is expected to see significant performance improvements in Q2 2025, driven by increased shipment volumes and enhanced capacity utilization, leading to higher net profit per ton [1][3][6] Group 1: Industry Performance - In 2024, wind power companies are projected to achieve total revenue of 334.5 billion yuan, representing an 8% year-on-year increase, but with a decline in net profit to 13.36 billion yuan, down 12% year-on-year [2] - The overall gross margin for wind power companies is expected to be 14%, with a net margin of 4%, both down by 3.0 percentage points and 0.9 percentage points respectively, primarily due to falling turbine delivery prices and significant price drops in components [2] - The offshore wind sector is anticipated to see a recovery in profitability in Q1 2025 due to strong industry demand [2] Group 2: Offshore Wind Project Developments - Significant increases in single pile shipments for offshore wind are expected in Q2, with major projects in Jiangsu and Guangdong now underway, contributing to improved performance for related companies [3][4] - By 2025, approximately 11 GW of new offshore wind capacity is expected to be connected to the grid in China, with projects in various provinces including Hebei, Shandong, Zhejiang, Shanghai, and Tianjin [4] - The capacity utilization rate for tower manufacturers is projected to rise from 5% to 50%, leading to a notable increase in net profit per ton, from a loss of 3,424 yuan per ton to a profit of 648 yuan per ton [5] Group 3: Market Sentiment and Recommendations - The current market sentiment towards domestic offshore wind is considered low, but improvements in actual shipments and performance are expected in Q2 [6] - The report emphasizes the importance of focusing on the offshore wind and turbine sectors, as positive changes in construction, orders, and performance are anticipated in the near term [1][3]