Core Viewpoint - The Chinese government emphasizes the acceleration of smart grid and microgrid construction to enhance the safety and energy security of the power system [1] Group 1: Smart Grid Development - Smart grids are essential for adapting to the rapid development of high-proportion renewable energy, comprising main grids, distribution networks, and microgrids with features of high informationization, automation, and interactivity [1] - Accelerating the construction of smart grids and microgrids will improve the grid's ability to accept, allocate, and regulate clean energy, ensuring safe, reliable, and cost-effective operations [1][2] - The transition of distribution networks from merely receiving and distributing electricity to an interactive model with integrated resources is crucial for enhancing service capabilities [2] Group 2: Microgrid Construction - Microgrids are characterized by self-balancing, safety, miniaturization, greenness, intelligence, and sharing, playing a significant role in the stable, efficient, and low-carbon development of new power systems [3] - The development of smart microgrids should be coordinated with the overall grid strategy, promoting compatibility with large grids and efficient collaboration with distribution networks [3] - Demonstration projects for smart microgrids should be established in areas with abundant renewable resources, such as rural regions and high-proportion renewable supply parks [3] Group 3: Intelligent Dispatch System - An advanced power dispatch system can significantly enhance the grid's ability to accept and flexibly dispatch renewable energy sources [4] - Optimizing the dispatch operation mechanism and building a multi-level intelligent operation system are essential for improving local balance capabilities and proactive support for the main grid [4] - Establishing a unified market trading platform for decentralized resources will encourage participation from emerging entities like virtual power plants and electric vehicles, fostering positive interactions with renewable energy [4]

Core Viewpoint - The report by State Grid Inner Mongolia East Power Co., Ltd. outlines key efforts and achievements in power supply assurance, grid construction, renewable energy consumption, optimization of the power business environment, and service to public welfare by 2025 [1] Group 1: Grid Quality Improvement - The company is advancing the construction of a new power grid platform to support the green transformation of the economy and society [2] - By 2025, the company plans to start 147 projects and put into operation 80 projects, significantly enhancing the resource optimization capacity of the grid [2] - The total external power delivery is expected to reach 2,277 billion kilowatt-hours by 2025, ranking among the top provincial grids in the country [2] Group 2: Support for Renewable Energy Development - The company is focused on achieving national carbon neutrality goals and supporting the construction of a clean energy region [3] - By the end of 2025, the installed capacity of renewable energy connected to the grid is projected to reach 35.86 million kilowatts, accounting for 60% of the total capacity [3] - New energy sources have become the primary power source for the grid, exceeding national targets for renewable energy consumption responsibility by 8.2 percentage points [3] Group 3: Integration into National Power Market - The company is implementing full market entry for renewable energy and has initiated trial operations for long-cycle continuous settlement in the spot market [4] - During the 14th Five-Year Plan period, the company completed green electricity transactions totaling 6.356 billion kilowatt-hours, promoting renewable energy consumption and carbon reduction [4] Group 4: Enhancement of Power Supply Service Quality - The company is committed to improving power supply reliability, particularly in rural areas, with an investment of 1.907 billion yuan in rural power networks by 2025 [5] - The company has implemented 20 measures to support the development of private enterprises and enhance customer service experiences [5] - The "Internet + Power Supply Service" model has registered 4.55 million users, improving the convenience of electricity access [5] Group 5: Addressing Public Welfare Issues - The company is investing 1.05 billion yuan in 2025 to complete various public welfare projects, benefiting 150,000 households [6] - The company is actively supporting the development of electric vehicles by ensuring power supply for 15,900 charging piles [6] - During peak summer periods, the company achieved historical highs in both internal and external power supply, reaching 8.62 million kilowatts and 4,174 million kilowatts, respectively [6]

Group 1 - Major adjustment in silver fund valuation method announced by Guotai Asset Management, allowing the fund to bypass the 10% limit on price fluctuations and the 17% theoretical maximum decline in domestic silver futures contracts, pricing based on international market prices [1] - In January, public funds participated in the offline allocation of 5 new stocks, with a total allocation of 60.22 million shares and an investment amount of 1.25 billion yuan [2] - Change in major shareholders of Jiangxin Fund, with Guosheng Financial Holdings set to absorb Guosheng Securities, which previously invested 54 million yuan in Jiangxin Fund, representing 30% of its registered capital [3] Group 2 - Adjustment of subscription limits for QDII fund managed by Li Yaozhu, with new limits set at 5,000 yuan for A-class and 700 USD for C-class shares starting February 4 [4] - Market review shows a rebound with the Shanghai Composite Index rising by 1.29%, Shenzhen Component Index by 2.19%, and ChiNext Index by 1.86%, with total trading volume at 2.54 trillion yuan, down 40.5 billion yuan from the previous trading day [5] - The leading ETFs included the China-Korea Semiconductor ETF, which rose by 8.62%, and the Guotai Photovoltaic ETF, which increased by over 7% [6] Group 3 - The National Development and Reform Commission and the National Energy Administration issued a notice to improve the capacity price mechanism on the generation side, aiming to establish a reliable capacity compensation mechanism that reflects the peak contribution of different units, highlighting opportunities in the renewable energy sector [9]

2025年我国全社会用电量突破10万亿千瓦时，这不仅是全球能源电力发展的全新里程碑，更是我国经济 社会蓬勃发展的生动缩影，彰显着我国发展的强劲韧性与磅礴力量。 用电增长映照发展活力 同建设，以及抽水蓄能、新型储能建设。南方电网计划2026年固定资产投资保持在高位的1800亿元，且 未来将持续增长，重点推进柔性直流、配电网改造、数智化微电网以及车网互动等工程。巨大的基础设 施投资规模，既彰显了我国推动能源电力绿色转型的坚定决心，也为统筹能源安全、绿色转型与经济发 展提供了坚实支撑，让我国在实现低碳发展的同时，持续保障经济社会发展的用电需求。 第一类以欧洲、日本为代表，陷入经济增长乏力与用电量下滑的螺旋困境。如德国在俄乌冲突后能源价 格飙升，制造业出口竞争力下滑，投资不振和产业外迁导致2022年至2024年连续两年GDP负增长，2024 年用电量较2021年下滑近8.7%。日本情况稍好但也有限，经济增速长期徘徊在1%以下，用电需求持续 萎缩，年度用电量从2011年的1.1万亿千瓦时降至2024年的0.9万亿千瓦时。背后原因在于，这些国家仍 依赖过去的成功路径，新兴产业发展滞后，同时能源政策受制于地缘政治，电力系统 ...

"跨区、跨省输送电量较快增长。"中国电力企业联合会统计与数智部主任侯文捷表示，2025年，全国完 成跨区输送电量9984亿千瓦时，同比增长7.9%；跨省输送电量21237亿千瓦时，同比增长6.3%。内蒙古 (3251亿千瓦时)、云南(1925亿千瓦时)、山西(1504亿千瓦时)、新疆(1340亿千瓦时)、四川(1261亿千瓦 时)5个省份净输出电量规模超过1000亿千瓦时。(完) （文章来源：中国新闻网） 中新网北京2月3日电(记者阮煜琳)中国电力企业联合会2日发布《2025-2026年度全国电力供需形势分析 预测报告显示，2025年，全国电网工程建设完成投资6395亿元，同比增长5.1%。 数据显示，近年来，风光大基地建设推动特高压直流输电通道工程投资快速增长，2025年直流工程投资 同比增长25.7%；交流工程投资同比增长4.7%。2025年，全国新增220千伏及以上变电设备容量(交 流)32043万千伏安，同比少投产1519万千伏安；新增220千伏及以上输电线路长度47529千米，同比多投 产13814千米。交直流输电通道的建设打通区域电力输送动脉，资源配置能力进一步提高。 ...

Group 1: Social Responsibility Initiatives - China Southern Power Grid has been funding the "Hope Hand" school for hearing-impaired children in Laos since 2022, integrating it into their "Hope Light" charity activities to support art education and self-expression for the children [17][18] - The company has also produced the first sign language information program in Laos, benefiting approximately 80,000 hearing-impaired individuals [18] - The "Hope Light" initiative has built a bridge for the hearing-impaired community in Laos to connect with society, as stated by the deputy director of Laos National Television [18] Group 2: Support for Local Enterprises - Datang Jinguang Electric's support project in Indonesia's Mandis Village has helped local tofu workshops improve product quality and expand operations through financial, technical training, and market access support since 2021 [20][21] - The tofu workshop owner reported an increase in monthly earnings from 1.2 million Indonesian Rupiah (approximately 4,900 RMB) to over 3 million Indonesian Rupiah due to the support received [21] Group 3: Community Health Initiatives - The "Claw of Kecala" project by China Merchants Port Holdings has provided veterinary services to residents of Piaçaguera Island in Brazil, addressing the lack of accessible pet healthcare [22][23] - The project includes a specially modified pet medical ship that offers vaccinations and health consultations, significantly improving community public health [24] Group 4: Environmental and Educational Support - China Minmetals' Las Bambas copper mine project in Peru has integrated volunteer services and capacity building into its operations, promoting sustainable development and community poverty alleviation since 2014 [25][26] - The project has provided training in horticulture and other skills, enabling local residents to engage in ecological restoration and improve their livelihoods [25][26]

中国华能集团清洁能源技术研究院有限公司，成立于2010年，位于北京市，是一家以从事研究和试验发 展为主的企业。企业注册资本133757.27万人民币。通过天眼查大数据分析，中国华能集团清洁能源技 术研究院有限公司共对外投资了12家企业，参与招投标项目4498次，财产线索方面有商标信息65条，专 利信息5000条，此外企业还拥有行政许可14个。 国家知识产权局信息显示，华能陇东能源有限责任公司取得一项名为"新能源消纳比例贡献评估模型训 练方法、评估方法和装置"的专利，授权公告号CN116029562B，申请日期为2022年11月。 天眼查资料显示，华能陇东能源有限责任公司，成立于2020年，位于庆阳市，是一家以从事电力、热力 生产和供应业为主的企业。企业注册资本748172.8万人民币。通过天眼查大数据分析，华能陇东能源有 限责任公司共对外投资了3家企业，参与招投标项目290次，专利信息479条，此外企业还拥有行政许可 142个。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 来源：市场资讯 ...

Core Viewpoint - The China Electricity Council indicates that the installed capacity of solar power in China is expected to surpass that of coal power for the first time by 2026, marking a significant milestone in the country's transition towards a cleaner power system [1] Group 1: Installed Capacity Projections - By the end of 2026, the combined installed capacity of wind and solar power in China is projected to reach half of the total installed capacity [1] - Despite ongoing peak construction of coal power projects, the proportion of coal power in the total installed capacity is expected to decline to around 31% [1] Group 2: Incremental Capacity Growth - The China Electricity Council forecasts that the total newly added power generation capacity in 2026 will exceed 400 million kilowatts, with new renewable energy generation capacity expected to surpass 300 million kilowatts [1] - The increase in effective generation capacity is anticipated to be roughly in line with the growth in maximum load [1]

宏观日报 | 2026-02-03 生产行业：1）市场监管总局会同中央空管办、国家发展改革委等十部门联合发布《低空经济标准体系建设指南（2025 年版）》，重点围绕低空航空器、低空基础设施、低空空中交通管理、安全监管和应用场景五大核心领域，建立技 术标准与管理规范融合、国内标准与国际规则融合、强制性标准与推荐性标准融合、基础标准与场景标准融合的"四 维融合"标准供给体系。 服务行业：1）2日，上海收购二手住房用于保障性租赁住房项目工作实质性启动。上海市住建委有关负责人表示， 上海将强化供给与需求匹配、租赁与购置联动，形成"政策引导、市场运作、多方协同、群众得益"的良好格局。 同时，上海还将推动保障性租赁住房筹措模式创新，探索在二手房市场中收购存量住宅，进一步拓宽保障房源筹 措渠道；并通过存量房源收购，有效缩短建设周期，优化区域布局，完善房型结构，加快形成有效供给。 数据来源：iFind，华泰期货研究院 行业总览 上游：1）有色：铝、镍价格回落较多。2）农业：鸡蛋价格小幅回落。3）能源：国际原油价格回升。 2026年期货市场研究报告 第1页 请仔细阅读本报告最后一页的免责声明 地产下游回落 中观事件总览 中游： ...

晋控电力（000767.SZ）2月3日在投资者互动平台表示，中铝新材料公司生产阳极炭素，阳极炭素主要 作为生产电解铝的原料。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问我公司参股的中铝山西新材料有限公司是否生产 阳极碳素？如果是，是否用于电磁储能中？ ...