Core Viewpoint - Liujiashan Hydropower Plant has become a popular destination for tourists during the National Day and Mid-Autumn Festival, highlighting its significance as a patriotic education base and a symbol of China's hydropower achievements [1][7]. Group 1: Visitor Experience - The plant's impressive dam stands over the Yellow River, symbolizing the glory of China's hydropower industry, with visitors expressing admiration for the builders' spirit of self-reliance and hard work [3][5]. - Many families are visiting the plant for educational purposes, aiming to instill a sense of patriotism in their children through immersive experiences [5][7]. Group 2: Events and Activities - To celebrate National Day, the plant organized the "Inherit Red Gene, Forge Yellow River Safety" open week, featuring storytelling, exhibitions, and multimedia interactions to showcase the builders' struggles and innovations in hydropower technology [5][7]. - The local government has introduced "Red Culture + Ecological Tourism" routes, allowing visitors to appreciate both the red spirit and the ecological achievements along the Yellow River [7]. Group 3: Visitor Statistics and Cultural Impact - During the National Day and Mid-Autumn Festival, the Liujiashan Hydropower Plant received over a thousand visitors, reflecting a growing demand for spiritual and cultural experiences [7]. - The rise in red tourism indicates an increasing public interest in cultural heritage and pride in national development achievements, positioning the plant as a vital classroom for patriotism in the new era [7].

指在西藏雅鲁藏布江下游（主要在林芝市境内）规划建设的超大型水电项目，战略意义远超单一能源项 目范畴。雅鲁藏布江是全世界水流落差最大的大河，其上中游形态和下游差别较大。中上游水能开发难 度较低，但效益有限，已建成直孔水电站、藏木水电站等水利工程；而下游，从西藏米林县派镇至墨脱 县出境的496公里河段，仅占全长24%，却集中丰富水能资源。（数据来源：西藏在线。） 专题：北京公募基金高质量发展系列活动 新时代、新基金、新价值 一座总投资堪比北京300个重点工程总和、年发电量相当于3个三峡电站的超级工程，正在青藏高原拔地 而起。本期《投资"建"解》，带您了解雅鲁藏布江下游水电站工程（简称雅下水电工程）背后的投资蓝 海。（数据来源：新华社、北京市发展和改革委员会、国家审计署。） Q1、什么是雅下水电工程？ 资料来源：西藏在线。 Q2、雅下水电工程缘起何时？ 可追溯至20世纪，从最初地质图勾勒，到高海拔TBM实战验证，再到近期正式破土动工，这项"超 级"水电工程，注定将载入我国基础设施建设史、能源战略史。 资料来源：《一图了解 雅鲁藏布江布局时间轴和重大历史意义》。 Q3、雅下水电工程有多强？ 不妨以三峡工程进行对比，其 ...

当"十四五"规划中的重大工程不断取得进展和成效，一批承载着共和国辉煌的"大国重器"与"工业地标"，也正以开放的姿态，从生产现场变身成为热 门的"文化会客厅"。这其中，作为新中国水利史上里程碑的三峡大坝，已不仅是一座"世纪工程"。在这个假期，它更化身为一座生动的"活态课堂"，吸引 着众多游客前来"打卡"。 三峡大坝：从"世纪工程"到"智能课堂" 在三峡工程博物馆，讲解员指着陈列的工业遗存，以时间为轴，带领游客见证三峡工程从梦想照进现实的全过程。作为全球最大水电专题博 物馆，馆内汇集库区文物、工程图纸、机组部件等2000余件展品，结合声光电技术，全景展现世界最大水利枢纽建设征程，让游客感受背后的科 技实力与民族智慧。 在"三维立体景观"多媒体展区，通过投影和裸眼3D技术等光影特效，以影片与沙盘同步演绎的方式展示大坝的建设过程，游客可以沉浸式体 验大坝选址、截流施工、机组安装等历史性瞬间，深度参与这座超级工程的建设链条。 国庆中秋假期，三峡大坝旅游区化身为一座没有围墙的巨型科技体验馆。在博物馆二楼的好奇水电研学中心，二十多个家庭正在志愿者的引 导下，动手拼装小型水力发电机模型，体验水流驱动涡轮旋转、转化为电能的过程 ...

Core Viewpoint - The report highlights the successful completion of China's first ship-based green methanol refueling operation at Ningbo Zhoushan Port, marking a significant milestone in the development of green fuel capabilities in the region [3]. Market Review - In September, the CSI 300 Index rose by 3.20%, while the public utility index increased by 0.41% and the environmental index by 0.77%. The relative monthly returns for these indices were -2.80% and -2.43% respectively [2]. - Among the 31 primary industry sectors, public utilities and environmental sectors ranked 13th and 11th in terms of growth. The environmental sector saw a 0.77% increase, while the electricity sector's thermal power rose by 2.34%, and hydropower fell by 3.08% [2]. Important Events - The successful refueling of the "COSCO Shipping Libra" with 230 tons of green methanol at Ningbo Zhoushan Port signifies the port's capability to handle LNG, biofuels, and methanol, enhancing its status as an international hub [3]. - This operation involved collaboration between China Ship Fuel, Zhejiang Port Group, and Ningbo Zhoushan Port Group, utilizing seven specialized methanol transport tankers and explosion-proof refueling equipment [3]. Investment Strategy - Public Utilities: Recommendations include Huadian International for thermal power, Longyuan Power and Three Gorges Energy for renewable energy, and China Nuclear Power for stable nuclear power operations [4][5]. - Environmental Sector: Focus on companies like China Everbright Environment and Zhongshan Public Utilities, as well as opportunities in the domestic waste oil recycling industry due to upcoming EU SAF policies [5].

越南《工贸报》10月8日报道称，6至7日，受11号台风"麦德姆"影响，谅山省遭遇持续强降雨。7日中午 13时30分（当地时间）左右，该省北溪1号水电站大坝发生决口事故。据监测数据显示，北溪水电站7日 上午9时入库流量和下泄流量均为每秒1181立方米，至中午12时，流量上升至每秒1562立方米。13时30 分左右，大坝发生决口。 报道称，北溪1号水电站位于谅山省新进乡北溪村，装机容量2.4兆瓦，汇水面积325平方公里，库容约 157.2万立方米。此次决口段长约4至5米，深度为3至4米。据初步判断，事故原因为持续强降雨导致水 位急剧上涨，入库流量高达每秒1572立方米，冲毁进水口部分混凝土结构，造成中央控制室倒塌及设备 损毁。目前未接到人员伤亡报告，财产损失仍在统计中。 ...

Core Insights - Institutional upgrades in ratings indicate a positive market outlook for related assets or companies, suggesting good growth potential and investment value [1] Group 1: Institutional Upgrades - As of September 2025, 41 stocks received upgrades from institutions, with several leading companies from various sectors included [1] - Traditional industry leaders such as Yangtze Power, Huaneng Hydropower, Guotou Power, Sany Heavy Industry, XCMG, and Yanzhou Coal Mining are among those upgraded [1] - Emerging industry leaders like BAIC BluePark and Xinzhou Bang also made the list [1] Group 2: Valuation Metrics - As of September 30, 2025, 18 stocks had a rolling price-to-earnings (PE) ratio below 30, with 6 stocks having a PE ratio under 15, including Yanzhou Coal Mining, Boss Electric, Hailide, Yuntu Holdings, Zhou Dazheng, and Anhui Hefei [1] Group 3: Dividend Yields - The highest dividend yield over the past 12 months was recorded by Pingmei Shenma, reaching 7.25% as of September 30, 2025 [1]

Group 1: Infrastructure Development - The G8513 line Jiuzhaigou-Mianyang Expressway, led by Shudao Group, officially opened, reducing travel time from Chengdu to Jiuzhaigou from 8 hours to approximately 4 hours, significantly improving regional transportation conditions and promoting tourism and economic development [8] - The Yibin Station square, part of the TOD+POD complex, opened on September 29, covering an area of 980 acres with a total construction area of about 285,000 square meters, featuring over 100 new brand stores [14] Group 2: Energy Projects - The Jinsan Hydropower Station, a major national project, has generated over 10 billion kilowatt-hours of electricity since its commissioning, supporting local economic development [11] Group 3: Environmental Initiatives - The Shenzhen Maozhou River upstream management project, implemented by Qingxin Environment, is recognized as a national ecological governance benchmark and has won multiple awards for its innovative "water + landscape" integration approach [5] Group 4: Tourism and Cultural Development - The Jinlong Great Wall Scenic Area, a new AAA-level tourist attraction, has introduced over 10 popular activities and aims to enhance its offerings to become a national AAAA-level scenic area [20] - The Tianfu International Conference Center, located in Chengdu, is designed to host large international business meetings and national events, featuring Asia's largest single wooden structure [22] Group 5: Logistics and Resource Management - The Xinjing Yunport Railway Logistics Park covers 387 acres and has established multiple transport routes, with ongoing construction of modern storage facilities to enhance supply chain efficiency [25] - The Daluo Channel Rare Earth Mine fluorite utilization project, with an investment of 65 million yuan, aims to set a benchmark for the resource-efficient utilization of rare earth tailings [28]

SAFE HARBOR STATEMENT Acquisition of EMAE October 2025 This presentation does not contain projections or estimates of future events. However, it may include forward-looking statements that indicate potential trends related to Sabesp, based on the reasonable expectations, beliefs, and assumptions of the Company's management. The use of expressions such as "projects," "estimates," "anticipates," "foresees," "plans," "expects," and similar terms shall not be construed as forecasts or guidance for purposes of a ...

Core Viewpoint - The SK Hydropower Station in Pakistan has successfully completed its first year of commercial operation, significantly contributing to the country's energy transition and the China-Pakistan Economic Corridor [1][3]. Group 1: Project Overview - The SK Hydropower Station, located on the Kunhar River in the Mansehra region of Khyber Pakhtunkhwa, is approximately 250 kilometers from Islamabad and is a key project under the China-Pakistan Economic Corridor [1]. - Since its commencement in January 2017, the project has adhered to strict production standards and established a comprehensive safety management system, achieving a safety operation goal of "zero accidents, zero losses" [1]. - To date, the SK Hydropower Station has delivered a total of 2.8 billion kilowatt-hours of clean electricity to Pakistan, serving as a "power source," "stabilizer" for energy supply, and a "new engine" for green development [1]. Group 2: Social and Environmental Impact - During the peak construction phase, the project created over 6,000 direct jobs and continues to provide more than 100 stable jobs post-commercial operation [2]. - The project has engaged in tree planting initiatives for seven consecutive years, planting over 150,000 trees [2]. - A 5,000 square meter trout hatchery has been built and handed over to maintain ecological balance in the river basin, alongside the development of a viewing platform to enhance local tourism [2]. Group 3: Government Support and Future Prospects - The Pakistani Minister for Planning, Iqbal, praised the operational achievements of the SK Hydropower Station, highlighting its role in delivering clean energy, optimizing energy structure, and enhancing national energy security [3]. - The government of Pakistan is committed to supporting the development of the SK Hydropower Station and will continue to strengthen safety measures and promote deeper cooperation [3]. - As the China-Pakistan Economic Corridor enters a phase of high-quality development, cooperation in the clean energy sector is expanding, with the SK Hydropower Station exemplifying successful collaboration [4].

国庆、中秋假期，无数劳动者坚守岗位、辛勤劳动，用实干践行责任与担当。 奋斗者，守护万家灯火 "幸福都是奋斗出来的，奋斗本身就是一种幸福。" 国庆、中秋假期，东部战区海军某团任务分队正在驻舰执行战备巡逻任务。年轻飞行员黄帅铭（化名） 刚结束飞行，就投入技术复盘。前不久，他顺利取得某型直升机的参战资格，"数年几度列装新装备， 我们一定苦练精飞，确保关键时刻拉得出、上得去、打得赢。" 国庆、中秋假期，万家团圆、灯火璀璨，这幸福光景的背后，无数平凡奋斗者在默默守护。 创新者，点亮科技之光 "推进中国式现代化，科学技术要打头阵，科技创新是必由之路。" "十四五"规划收官在即，国家重大工程叶巴滩水电站迎来关键节点——首批坝段浇筑到顶。叶巴滩水电 站地处四川甘孜藏族自治州白玉县与西藏昌都市贡觉县交界处的金沙江上游，工程建设面临高海拔、高 温差、高边坡、高拱坝、高地应力及高原寒冷等技术挑战。 华电金上叶巴滩分公司总工程师夏勇带领团队创新工作方法，构建了"施工—保温—养护"一体化的综合 防控体系，开发大坝混凝土浇筑、温控和灌浆全流程智慧管控系统，实现了高海拔地区特高拱坝智能建 设。国庆、中秋假期，他坚守在工程一线，持续优化组织 ...