Group 1: Electricity Consumption Trends - In May, total electricity consumption reached 809.6 billion kWh, with a year-on-year growth of 4.4%, indicating a moderate overall increase but significant structural differentiation [3] - The primary industry saw an 8.4% increase in electricity consumption, reflecting accelerated agricultural modernization and rural infrastructure development, particularly in livestock and smart agriculture [3] - The secondary industry experienced a slower growth of 2.1%, likely due to structural adjustments in the industrial sector, with high-energy-consuming industries being regulated while high-tech manufacturing, such as automotive and general equipment manufacturing, showed strong performance with growth rates of 8.4% and 6.1% respectively [3] Group 2: Sector-Specific Insights - The tertiary industry and residential electricity consumption grew by 9.4% and 9.6% respectively, indicating a recovery in the service sector, particularly in charging and swapping services for electric vehicles, which is directly related to the proliferation of new energy vehicles and the expansion of the digital economy [3][4] - The rapid growth of the charging and swapping service industry suggests significant market potential for supporting infrastructure for new energy vehicles [4] - Internet and related services saw a remarkable 29.8% increase in electricity consumption, highlighting the emergence of AI and cloud computing as major electricity consumers, which may present investment opportunities in computing infrastructure and data center construction [4] Group 3: Investment Opportunities - The growth in high-tech and equipment manufacturing, particularly in the new energy vehicle supply chain, is noteworthy, with BYD's battery installation volume reaching nearly 28.5 GWh in May, a year-on-year increase of over 50%, indicating a boom in the new energy vehicle sector [3] - The implementation of green electricity direct connection policies is significant, as it encourages companies to enhance energy efficiency and opens new opportunities in distributed photovoltaics and energy storage [5] - Long-term investment focus should be on leading companies in high-tech manufacturing, especially in the new energy vehicle and high-end equipment sectors, as well as in the new energy generation and storage industries, which are expected to see stable growth due to advancing green electricity policies [5]

Core Insights - The transformation of the Qiaoshun electric heavy truck charging station in Changzhi, Shanxi Province, from a corn starch processing plant to a charging station has created a new revenue stream, with a total capacity of 6,300 kW and 26 charging piles, serving over 150 vehicles daily and consuming approximately 20,000 kWh of electricity [1] - The electric heavy truck ownership in Shanxi Province exceeds 10,000 units, highlighting the importance of infrastructure development, such as dedicated charging stations, to support the growth of green transportation [1] - The Changzhi power supply company has secured 197 million yuan in special funding for grid upgrades and has proactively planned for the expansion of substations to accommodate the growing demand for electric heavy trucks [1] Industry Developments - In the first quarter of this year, the electricity consumption of the charging and swapping service industry in Changzhi reached 196 million kWh, marking a year-on-year increase of 114.47% [2] - The city is progressing well with the construction of 13 key industrial park charging stations, with plans to build over 2,000 public charging piles throughout the year [2] - The State Grid Shanxi Electric Power Company is actively promoting the establishment of self-built electric heavy truck charging stations, with plans to construct five additional stations this year, which will include 31 dual-gun charging piles, capable of servicing over 300 electric heavy trucks daily [2]