本文源自：金融界AI电报 AXIA Energia美股盘前跌超15%，现报9.7美元。 ...

当AI（人工智能）能够以毫秒级速度预测风电、光伏发电的波动，当智能算法将风电场弃风率压降至 3%以下，当虚拟电厂精准调度5万个分散充电桩与空调负荷——我们蓦然发现，能源世界的主导者，已 不再仅仅是传统资源与硬件，而是数据、算法与算力。 人工智能重构能源权力的全球格局 从2022年ChatGPT横空出世，到2024年DeepSeek等大模型迅猛崛起，人工智能的进化速度已突破人类想 象力边界——它的迭代周期从年缩短至月、周，参数规模每9个月翻10倍，认知能力在一些领域甚至超 越人类。 这场静默却汹涌的革命，正以摧枯拉朽之势重构全球能源秩序的底层逻辑。 传统能源秩序以"资源—设施—市场"为核心，谁占有油田、煤矿、风光、管线、电站，谁就拥有主导 权，而AI时代的秩序则以"数据—算法—算力"为核心，谁掌握高质量连续数据、谁能训练出低能耗高泛 化模型、谁能在毫秒级响应中完成最优决策，谁才是新世界的王者。 千亿级大模型应运而生，国家电网光明电力大模型、国家能源集团擎源大模型、中国石油昆仑大模型、 南方电网大瓦特大模型、三峡集团大禹大模型……这些"超级大脑"正在接管各类核心业务，大幅提升系 统工作效率，深刻改变能源行业运行模 ...

胜通能源公告称，公司股票连续2个交易日（12月18 - 19日）收盘价格涨幅偏离值累计超20%，属异常 波动。自2025年12月12日以来连续6个交易日涨停，累计涨幅达77.22%，股价严重偏离基本面。截至12 月19日，收盘价26.14元/股，静态市盈率 - 436.78，市净率4.87。2025年12月11日控股股东等签署股份转 让协议，收购方暂无相关重组及借壳计划。魏吉胜等拟申请豁免股份限售承诺，尚需审议；股份转让需 多项审批，能否完成及时间均不确定。2023 - 2024年净利润连续为负。提醒投资者注意风险。 ...

Group 1: Core Themes - The 2026 global market will experience a transformative period characterized by three core themes: the dominance of artificial intelligence, global market differentiation, and structural changes in inflation, creating an investment environment filled with both opportunities and challenges [1][2][3] Group 2: Artificial Intelligence - The AI revolution is deepening, becoming the core driver of the economy and markets, with generative AI capabilities improving and applications expanding, leading to significant increases in investment [1][2] - Major US tech companies are projected to increase their annual capital expenditures from $150 billion in 2023 to over $500 billion by 2026, a threefold increase [32] - AI-related spending is expected to contribute more to GDP growth than consumer spending by 2025, with OpenAI planning to invest over $1 trillion in capital expenditures in the coming years [32][33] Group 3: Global Market Differentiation - The trend of global market differentiation is reshaping trade, energy, and monetary structures, with a shift from cost minimization to supply chain security and regional trade alliances [2][10] - South America is emerging as a key player in global resource competition due to its rich mineral and energy resources, attracting investment attention [2][10] Group 4: Inflation Dynamics - Inflation is undergoing a structural transformation, becoming a significant variable affecting wealth planning, with current levels higher and more volatile than pre-pandemic [2][11] - The housing market is experiencing a supply shortage, impacting living costs and asset values, while fixed income markets are regaining momentum with rising bond yields [2][11][16] Group 5: Investment Strategies - The macro environment in 2026 offers growth opportunities for multi-asset investments, particularly in AI, regional trade restructuring, energy transition, and inflation-hedged assets [3][11] - Investors are encouraged to adopt a resilient and flexible perspective in their investment and wealth planning to adapt to the new global economic paradigm [3][11]

Core Viewpoint - Shenzhen Zhaowei Hengfa Energy Co., Ltd., the second-largest shareholder of Shaoneng Co., received a warning letter from the Guangdong Regulatory Bureau of the China Securities Regulatory Commission for failing to disclose equity changes in a timely manner and continuing to trade despite the changes [1] Summary by Sections - **Equity Changes** - On November 10, 2025, Shenzhen Zhaowei Hengfa Energy Co., Ltd. reduced its holdings in Shaoneng Co. by 14.4 million shares through block trading, resulting in a 1.35% decrease in equity, bringing its shareholding below 10% [1] - On November 11, 2025, the company further reduced its holdings by 4.05 million shares, leading to a 0.38% decrease in equity, which brought its shareholding below 9% [1] - **Regulatory Action** - The Guangdong Regulatory Bureau decided to issue a warning letter to Shenzhen Zhaowei Hengfa Energy Co., Ltd. as an administrative regulatory measure, which will be recorded in the integrity file of the securities and futures market [1]

证券日报网讯12月15日，广汇能源（600256）在互动平台回答投资者提问时表示，截至11月28日公司的 总股东人数为218103户。 ...

证券日报网讯12月15日，广汇能源（600256）在互动平台回答投资者提问时表示，截至12月10日公司股 东总户数为221450户。 ...

公告称，由于该令状与未经算定金额有关；该令状未注有申索陈述书，本公司董事会无法评估该令状所 载申索的理据。尽管如此，本公司已采取积极措施以确定事件，指示其法律顾问于该诉讼中代表本公司 行事，并向高等法院查阅记录，惟在查阅时无法取得相关法院文件；及该等法律文件据称已送达另一代 表本公司行事的律师事务所(前任法律顾问)。 能源及能量环球(01142)盘中涨超10%，截至发稿，涨10.42%，报0.265港元，成交额1195.44万港元。 消息面上，12月14日，能源及能量环球发布公告，于2025年9月29日，本公司(作为被告)接获Daily Loyal Limited(申诉人)向香港高等法院存档的传讯令状(并无申索陈述书)(该令状)，指控本公司违反于2024年 10月25日订立的全球和解协议(该诉讼)。 ...

消息面上，12月14日，能源及能量环球发布公告，于2025年9月29日，本公司(作为被告)接获Daily Loyal Limited(申诉人)向香港高等法院存档的传讯令状(并无申索陈述书)(该令状)，指控本公司违反于2024年 10月25日订立的全球和解协议(该诉讼)。 公告称，由于该令状与未经算定金额有关；该令状未注有申索陈述书，本公司董事会无法评估该令状所 载申索的理据。尽管如此，本公司已采取积极措施以确定事件，指示其法律顾问于该诉讼中代表本公司 行事，并向高等法院查阅记录，惟在查阅时无法取得相关法院文件；及该等法律文件据称已送达另一代 表本公司行事的律师事务所(前任法律顾问)。 能源及能量环球(01142)盘中涨超10%，截至发稿，涨10.42%，报0.265港元，成交额1195.44万港元。 ...

Group 1 - Several leading listed companies have announced substantial hedging plans for the 2026 fiscal year, with notable commitments from 佛燃能源, 新奥股份, 隆基股份, and 三一重工 [1] - 佛燃能源 has set a maximum contract value limit of 12 billion RMB for its commodity and foreign exchange hedging business for 2026, with a margin cap of 4.17 billion RMB [1] - 新奥股份 plans to utilize a maximum margin and premium of 4.7 billion USD for its 2026 commodity hedging plan [1] - 隆基股份 has a maximum margin limit of 1.5 billion RMB for its hedging business in 2026 [1] - 三一重工's subsidiary plans to have a maximum trading margin and premium of 800 million RMB, with a maximum contract value of 2 billion RMB on any trading day [1] Group 2 - A total of 1,782 A-share listed companies in the real economy issued hedging-related announcements from January to November 2025, an increase of 279 companies or 18.6% compared to the entire year of 2024 [3] - Currency risk remains the primary hedging demand, with 1,311 companies issuing related announcements, followed by interest rate risk (517 companies) and commodity price risk (481 companies) [3] - The electronics, basic chemicals, power equipment, machinery, and pharmaceutical industries have the highest number of companies engaging in hedging [3] - Copper is identified as the most actively hedged commodity [3] - Over 30 domestic insurance institutions have entered the futures market, primarily using government bond futures and stock index futures to manage interest rate risk and equity market volatility [3] - The number of new accounts opened by insurance funds in the futures market increased by 166% year-on-year in the first 11 months of 2025, reaching a historical high [3] - Recent regulatory documents have supported the participation of insurance funds in financial derivatives trading, providing a framework for managing asset-liability risks [3]