万象消息：29日，老挝230千伏塔维扬、马哈赛输变电工程开工 仪式暨老挝国家输电网有限责任公司运营两周年活动在首都万象举 行。老挝国家副总理沙伦赛·贡玛西，老挝工贸部副部长占塔本·苏阿 伦，中国驻老挝大使馆经商处参赞李习臻，老挝国家电力公司副总经 理苏克萨瓦·索苏潘，中国南方电网公司总工程师李建设等两国政府 与企业代表出席活动，共同见证中老电力合作迈向新阶段。 老挝230千伏塔维扬、马哈赛输变电工程是老挝国家输电网有限 责任公司第一监管周期输电网规划内的关键项目，也是贯通老挝全境 南北联网的核心工程，包括新建1座230千伏马哈赛变电站，以及230 千伏彭匹克—马哈赛单回线路91公里、230千伏纳匹亚—塔维昂双回 线路44公里。项目建成后，老挝北部至中部电网网架结构将得到显 著强化，有效满足老挝国内经济发展用电需求。 李建设指出，两年来老挝国家输电网有限责任公司实现平稳运 营，为老挝主干电网高效运转注入强劲动能。中老500千伏联网工程 顺利启动，开启跨境电力互济新篇章；中老铁路供电安全稳定，打造 区域电力合作样板，一系列惠及两国人民的务实举措落地见效，让中 老友谊在合作中愈发深厚。 苏克萨瓦·索苏潘对两国紧密协 ...

12月3 1日，国家发改委、国家能源局发布《关于促进电网高质量发展的指导意见》。 国家发展改革委 国家能源局关于促进 电网高质量发展的指导意见 发改能源〔2025〕1710号 各省、自治区、直辖市、新疆生产建设兵团发展改革委、能源局，国家能源局各派出机构，有关中央企业： 电网作为连接电力生产和消费的枢纽平台，是加快构建新型电力系统的核心环节。为适应能源绿色低碳转型需要，支撑新能源大规模高 比例发展，保障大电网运行安全和电力可靠供应，服务建设全国统一电力市场，满足人民群众高质量用电需求，现就促进电网高质量发 展提出如下意见。 一、总体要求 以习近平新时代中国特色社会主义思想为指导，深入贯彻党的二十大和二十届历次全会精神，完整、准确、全面贯彻新发展理念，落 实"四个革命、一个合作"能源安全新战略，深入贯彻能源法，充分发挥新型举国体制优势，坚持"统一规划建设、协调运行控制、贯通 安全治理、创新技术管理"，加快建设主配微协同的新型电网平台，健全电网自然垄断业务监管机制，为推进中国式现代化提供坚强电 力支撑。 到2030年，主干电网和配电网为重要基础、智能微电网为有益补充的新型电网平台初步建成，主配微网形成界面清晰、功 ...

Market Overview - The Shanghai Composite Index closed nearly flat, while the Shenzhen Component Index rose, with a trading volume of 2.16 trillion yuan, unchanged from the previous trading day[1] - Over half of the industries experienced declines, with oil, automotive, non-ferrous metals, and machinery sectors leading in gains, while commerce, real estate, and public utilities saw the largest declines[1] - The market's overall performance remains stable, with a significant adjustment in the commercial aerospace sector, yet no severe sell-off occurred[1] Sector Insights - The commercial aerospace sector is facing short-term adjustments but is expected to maintain upward momentum in the medium term due to its strong characteristics[2] - The robotics sector is likely to take on the market's leading position, supported by favorable policies and industry developments, including the establishment of a humanoid robot standardization committee[2] - Despite recent volatility, multiple non-ferrous metal prices remain at historically high levels, indicating sustained strength rather than short-term fluctuations[3] Fund Flow - On December 30, net inflows into the Shanghai Stock Exchange were 16.644 billion yuan, while the Shenzhen Stock Exchange saw net inflows of 24.740 billion yuan[5] - The top three sectors for capital inflows were automotive parts, general equipment, and consumer electronics, while the largest outflows were from the power, liquor, and components sectors[5] Fund Dynamics - The total scale of public funds in China has reached a historic high of 37.02 trillion yuan, marking the first time it has surpassed this threshold[13] - The ETF trading volume across both markets was reported at 445.827 billion yuan, with stock ETFs accounting for 152.3 billion yuan and bond ETFs for 186.805 billion yuan[14][15]

Group 1: Core Insights - Inner Mongolia is expected to complete investments exceeding 300 billion yuan in major energy projects by 2025, accounting for approximately 35% of the region's fixed asset investment [1] - The region aims to fulfill a coal supply task of 795 million tons by 2025, with significant expansions in coal production capacity [1] - Inner Mongolia's total installed power capacity is projected to exceed 300 million kilowatts by the end of 2025, with a total electricity generation of 860 billion kilowatt-hours [1] Group 2: Coal Sector Developments - Inner Mongolia will accelerate the release of high-quality coal production capacity, with three mining areas receiving national approval, marking the highest number and largest scale of approvals in history [1] - The region plans to add 13 new coal production capacity reserve projects, totaling 23.6 million tons [1] Group 3: Electricity Sector Advancements - By 2025, Inner Mongolia will advance the construction of 12 coal power projects with a total scale of 21.32 million kilowatts [1] - The eastern power market will initiate continuous settlement trial operations in 2025, with the western market becoming the fifth in the country to enter formal operation [1] Group 4: Renewable Energy Growth - Inner Mongolia's wind power capacity is expected to exceed 10 million kilowatts by 2025, with an annual addition of 35 million kilowatts in new energy capacity [2] - The total renewable energy capacity is projected to surpass 170 million kilowatts by the end of 2025, with an annual electricity generation of 270 billion kilowatt-hours [2] - The region will implement market-oriented pricing reforms for renewable energy, with full market entry expected by July 1, 2025 [2] Group 5: Energy Storage and Hydrogen Energy - Inner Mongolia has established over 17 million kilowatts of new energy storage capacity, with policies in place to support rapid development [2] - The region aims to produce over 10,000 tons of green hydrogen by 2025, quadrupling the production from 2024 [2] Group 6: Technological Innovations - Ten technological equipment projects in hydrogen energy, energy storage, and new power systems have been selected for the national first set of major technological equipment list, achieving the best results in history [3] - Seven projects have been selected as national pilot projects in the hydrogen energy sector, ranking first in the country [3]

中国电力(02380)公布，该集团于2025年11月的合并总售电量为1009.97万兆瓦时，较去年同月增加 15.38%，而2025年首十一个月的合并总售电量为约1.156亿兆瓦时，较去年同期减少1.17%。 ...

格隆汇12月31日丨中国电力(02380.HK)宣布，根据公司的初步统计，集团于2025年11月的合并总售电量 为10,099,700兆瓦时，较去年同月增加 15.38%，而2025年首11个月的合并总售电量为115,601,811 兆瓦 时，较去年同期减少 1.17%。 ...

智通财经APP讯，中国电力(02380)公布，该集团于2025年11月的合并总售电量为1009.97万兆瓦时，较 去年同月增加 15.38%，而2025年首十一个月的合并总售电量为约1.156亿兆瓦时，较去年同期减少 1.17%。 ...

Core Insights - The collaboration between State Grid Zhejiang Electric Power and Chilean companies CGE and Chequenta focuses on building a green electricity network, integrating advanced Chinese management practices and technologies into local operations [1][2] Group 1: Project Development - State Grid Zhejiang Electric Power is actively involved in two urgent transmission expansion projects in Chile, with teams conducting on-site inspections and drone training for local engineers [1] - The partnership has led to the initiation of multiple projects, including the launch of two urgent expansion projects by CGE and the recognition of the "green transformer" project with a national circular economy award [2][4] Group 2: Technological Advancements - The collaboration has resulted in significant improvements in project management, including a 50% reduction in repair dispatch times and achieving 100% completion rates for grid inspections and emergency defect handling [4] - The introduction of biodegradable plant oil transformers has enhanced equipment capacity and efficiency while reducing environmental risks, with approximately 1,000 transformers already modified [5] Group 3: Cost Efficiency and Performance - Standardized procurement practices have led to savings of approximately 26.17 million yuan in power material procurement costs compared to the previous year [4] - The implementation of drone inspections has increased efficiency to four times that of manual inspections, resulting in a 46% reduction in operational costs [7] Group 4: Customer Service Improvements - The establishment of a tiered early warning mechanism and enhanced payment convenience has positioned the company among the leaders in electricity bill recovery rates in Chile [7] - The collaboration has generated direct economic benefits amounting to approximately 380 million yuan by the end of November [7]

Core Viewpoint - The conference focused on building an open and collaborative energy digitalization ecosystem, emphasizing the importance of creating an open industry ecosystem rather than just achieving technical capabilities [2][4]. Group 1: Event Overview - The 2025 Electric Hong Ecosystem Conference was held in Beijing, organized by China Southern Power Grid Co., with nearly 400 representatives from various sectors attending [2]. - The event aimed to outline a digitalization blueprint for the energy sector, promoting collaboration among government, industry organizations, energy companies, and academic institutions [2]. Group 2: Technical Innovations - The Electric Hong operating system was introduced to address challenges in the energy IoT sector, such as protocol unification and insufficient intelligence levels [4]. - The system features six core designs tailored to different device requirements, including small microkernels for resource-limited devices and high-performance kernels for complex scenarios [4]. - A significant advancement was made in real-time capabilities, reducing response time from hundreds of microseconds to under 15 microseconds, meeting application standards in control and protection fields [4]. Group 3: Security and Trustworthiness - The Electric Hong system has achieved the highest level of trusted security architecture certification in China, ensuring a secure operating environment from hardware to platform [5]. - A comprehensive technology stack was developed, enabling efficient collaboration between devices and applications, allowing for plug-and-play capabilities and flexible cloud management [5]. Group 4: Practical Applications and Future Plans - In the transmission sector, the system has evolved through various stages, with future developments aimed at real-time evaluation and predictive capabilities using AI [6]. - The distribution sector is highlighted as the largest application area, with plans to automate operations and replace traditional manual processes [6]. - The Electric Hong team aims to achieve breakthroughs in real-time control and large-scale AI applications, ultimately establishing a unified technical foundation for the energy industrial internet and exporting solutions internationally [6].

根据Wind数据统计，截至2025年12月31日，全年再融资（包括增发、配股、优先股及可转债，仅统计已发行的）规模达9508.65亿元，同比增长 326.17%。其中增发（包括公开增发及定向增发）8877.32亿元，贡献了绝大部分增量，同比增长412.99%；可转债631.33亿元，同比增长30.77%； 配股、优先股募资额均为0。 年内沪深北交易所共受理再融资251家次，审核通过181家次，报送证监会188家次，证监会注册173家次，终止（撤回）35家次。据统计，各上市 板块再融资过会率均为100%。 目前，仍有235家上市公司处于再融资排队状态。按审核状态，已受理11家、已问询108家、已审核通过11家、报送证监会37家、证监会注册62 家、中止审查6家。 2025年A股市场圆满收官，这一年注定成为资本市场发展史上的关键节点——指数跨越十年关口、市值突破百万亿、成交创下历史纪录，在政策 红利与资金活水的双重驱动下，市场呈现"稳中向好、结构分化"的鲜明特征。本系列将通过2025年A股再融资市场情况，包括再融资受理情况、 上会审核情况以及发行上市情况，对A股再融资市场进行全面剖析。 十大可转债项目合计募资38 ...