7月19日，雅鲁藏布江下游水电工程正式开工。这个斥资超万亿、建设周期超十年的水电工程，堪称史上规模最大的超级工程。 3000亿度的年发电量什么水平？超过全球90%以上的国家，能满足3亿人一年的用电需求。 01 年发电量相当于英国的1.1倍 中国是全球发电量第一的国家，2024年发电量 10.09万亿千瓦时，占全球总量的近30%，比第二至第六名的美国、印度、俄罗斯、日本、巴西加起来还要 多。 3000亿度的发电量，相当于越南去年一年的发电总量（3035.88亿度），大约排在全球第16位，超过90%以上的国家和地区，是英国、澳大利亚的1.1倍， 泰国的1.5倍，阿根廷的2倍，乌克兰的3倍。 3000亿度与部分发电大国2024年发电量之比 6.5% 14.8% 24.8% 29.5% 40.2% e西 美国 印度 俄罗斯 日本 18 00% 75.8% 85.0% 98.8% 士耳其 韩国 德国 伊朗 越南 4.7 3.7 3.0 2.3 2.0 1.8 1.5 1.1 乌克兰 英国 伊拉克 阿根廷 菲律宾 瑞士 秘鲁 泰国 注:根据《世界能源统计年鉴2025》数据计算 雅鲁藏布江下游水电工程选址于世界水能最富集的 ...

股市里的"二波行情"，向来是散户和游资的"心头好"。它不像第一波那样猝不及防，也不像长线布局那 样磨人，而是在题材热度未散、资金余温尚存时，给足市场反应时间的"二次上车机会"。如今，总投资 1.2万亿元的雅下水电工程，刚在7月19日敲下开工锤，就带着"人类史上最大水电基建"的光环搅动市场 ——这个板块的二波机会，真的要来了吗？ 先看"底气"：万亿工程不只是"热闹" 要判断一个板块有没有持续炒作的价值，先得看它的"基本面硬不硬"。 雅下水电工程的"硬"，体现在三个维度： 1)规模碾压：规划建设5座梯级电站，总装机容量6000万千瓦。这是什么概念？三峡工程总装机容量约 2250万千瓦，相当于2.6个三峡叠在一起；年发电量预计超3000亿千瓦时，够1.5亿户家庭用一整年，相 当于每年减少1.5亿吨标准煤消耗——这既是基建狂魔的实力秀，也是"双碳"战略的关键落子。 2)资金确定性：1.2万亿元的总投资，不是画饼。从历史经验看，大型水电工程从开工到建成往往持续 10年以上，意味着每年至少千亿级资金投入到工程建设、设备采购、材料供应等环节。对股市来说，这 就像给相关板块挂了"长期饭票"，资金有足够理由反复炒作。 3)市场 ...

Core Viewpoint - The article discusses the potential for a "second wave" market opportunity in the context of the Yaxia Hydropower Project, which has a total investment of 1.2 trillion yuan, highlighting its significance in the current market environment [1][2]. Group 1: Project Fundamentals - The Yaxia Hydropower Project is characterized by its massive scale, with a planned total installed capacity of 60 million kilowatts, which is equivalent to 2.6 times the Three Gorges Project, and an expected annual power generation of over 300 billion kilowatt-hours [2]. - The project has a clear funding certainty with an investment of 1.2 trillion yuan, indicating a consistent annual investment of at least 100 billion yuan over the next decade, which provides a long-term incentive for market speculation [2]. - The timing of the project is crucial as the A-share market is currently experiencing a period of uncertainty, making the Yaxia Hydropower Project an attractive new focus for investors [2]. Group 2: Market Signals - The Yaxia Hydropower sector has seen a significant influx of capital, with a four-day consecutive increase in trading volume, indicating new funds entering the market, which is typically a sign of institutional or speculative interest [3]. - On July 29, the sector exhibited a "deep V" pattern, where the market initially dropped but then rebounded sharply, suggesting that major players are actively managing their positions [3]. - There is a noticeable divergence in stock performance, with smaller stocks like Xizang Tianlu and Xining Special Steel leading gains, while larger stocks like China Energy Engineering and China Power Construction lagged, indicating a tactical preference for smaller-cap stocks by speculative investors [4]. Group 3: Future Opportunities - The article suggests that if the second wave of the market materializes, two types of stocks should be closely monitored: those directly benefiting from the project, such as construction companies and equipment manufacturers, and regional stocks that may gain from local supply advantages [7]. - The potential for a second wave is contingent on maintaining support levels around 1260 points and ensuring trading volumes remain above 50 billion yuan, which would indicate ongoing investor interest [6].

Group 1 - The company, Guanlong Energy (301151), expressed its ongoing high attention to the construction of the Yajiang Hydropower Project [1] - The company will actively monitor the project construction dynamics [1] - The company aims to participate in projects that align with its own technology and equipment capabilities [1]

Group 1 - The carbon-neutral ETF Taikang (560560) is tracking the CSI Mainland Low-Carbon Economy Theme Index (000977), which has seen a decline of 1.56% [1] - The Yarlung Tsangpo River downstream hydropower project has commenced construction, marking a significant milestone for China's carbon neutrality efforts and opening new investment opportunities in the green economy [1] - The hydropower project is expected to have a total installed capacity of approximately 60 million kilowatts, generating 300 billion kilowatt-hours of clean electricity annually, equivalent to "recreating three Three Gorges" [1] Group 2 - The Yarlung Tsangpo River downstream hydropower project will stimulate the entire hydropower industry chain, benefiting upstream and downstream sectors such as equipment manufacturing, construction, and power transmission [2] - The national carbon market is expanding, with major industries like steel, cement, and aluminum smelting joining, covering emissions of approximately 8 billion tons [2] - The carbon neutrality industry is poised for explosive growth, supported by continuous technological innovation and favorable government policies [2] Group 3 - The Taikang carbon-neutral ETF (560560) closely tracks the CSI Mainland Low-Carbon Economy Theme Index, which includes companies in clean energy generation, energy conversion and storage, and waste management [3][4] - The ETF comprises 50 core low-carbon economy enterprises, providing investors with exposure to the entire low-carbon economy value chain [3] - The ongoing construction of the Yarlung Tsangpo River downstream hydropower project and the rising interest in the carbon neutrality industry enhance the investment value of the Taikang carbon-neutral ETF [3]

Core Viewpoint - Huaneng Lancang River Hydropower Co., Ltd. has received approval from the China Securities Regulatory Commission for a specific stock issuance, aiming to raise up to RMB 5.825 billion for investment in hydropower projects, aligning with national energy policies and the company's strategic development direction [1][2][3] Group 1: Company Overview - Huaneng Lancang River Hydropower Co., Ltd. is a major hydropower enterprise controlled by China Huaneng Group, focusing on the development and operation of hydropower resources in the Lancang River basin and surrounding areas [1][2] - The company was established in June 1999 and listed on the Shanghai Stock Exchange in December 2017, serving as the sole platform for Huaneng Group's hydropower business integration [2] - The company operates over 30 subsidiaries, including various hydropower plants and energy sales companies, showcasing its extensive operational capabilities [2] Group 2: Fundraising and Investment - The company plans to issue up to 1.8 billion shares, with the net proceeds after issuance costs to be invested in the RM and TB hydropower station projects [1][2] - The total amount to be raised is capped at RMB 5.825 billion, which will be fully allocated to ongoing hydropower projects [2][3] Group 3: Strategic Alignment and Environmental Impact - The fundraising aligns with national industrial policies and industry development trends, enhancing the company's competitive advantage and market position [3] - The investment in hydropower projects is expected to significantly reduce emissions of coal, carbon dioxide, sulfur dioxide, and nitrogen oxides, contributing to the green transition of the national energy structure and supporting the "dual carbon" strategy [3] - The implementation of these projects will bolster the company's strategic goals, improve its business layout in the southwestern hydropower sector, and strengthen its core competitiveness [3]

Core Insights - The report indicates a strong market sentiment with a score of 78, categorized as "relatively hot," suggesting a positive outlook for the market [2][6][11] Market Themes Tracking - **Artificial Intelligence Theme**: The "2025 World Artificial Intelligence Conference" is set to take place from July 26 to 29 in Shanghai, focusing on cutting-edge AI technologies and applications. Key companies involved include Zhongke Shuguang (603019) and 360 (601360) [7] - **RDA Theme**: The introduction of the RDA (Real Data Asset) paradigm by the Shanghai Data Exchange emphasizes the integration of data with physical assets, enhancing authenticity and value. Related companies include Tongxingbao (301339) and Wanda Information (300168) [7] - **Hydropower Theme**: The commencement of the Yarlung Tsangpo River hydropower project in Tibet, with a total investment of approximately 1.2 trillion yuan, is highlighted as a significant strategic initiative. Key companies involved are Dongfang Electric (600875) and Tibet Tianlu (600326) [7] Market Capital Flow - The report lists the top ten stocks with significant net inflows, with New Yisheng (300502) leading at 127.71 million yuan, followed by Yunnan Zhiye (002428) at 56.46 million yuan [12] - The top ten stocks with the highest net buy in financing include New Yisheng (300502) at 114.00 million yuan and Cambricon Technologies (688256) at 77.97 million yuan [14] Industry Analysis - The report provides insights into the net inflow and outflow of funds across various industries, with the pharmaceutical and banking sectors showing positive net inflows, while industries like machinery and electronics are experiencing significant outflows [17][22]

7月28日，四川省属监管企业经济运行分析暨半年工作会议在成都举行。今年上半年，省属监管企业全 力以赴拼经济搞建设、抓改革促创新、强监管防风险，国有经济运行企稳回升。1—6月，省属监管企业 资产总额2.97万亿元、营业总收入3062亿元、上缴税费137亿元，分别同比增长9.8%、0.7%、3.3%，完 成投资1225亿元。 "上半年，省属监管企业市场开拓成效明显，有效发挥了投资拉动作用，管理效率不断优化，资本运营 效能明显提升。"省国资委相关负责人表示。 一批重大项目建设刷新进度。上半年，蜀道集团苍巴高速全线建成通车，成南高速扩容全线9座隧道全 部贯通；四川能源发展集团银江水电站3号机组、泸州气电1号机组投产发电；四川机场集团成都双流国 际机场T1航站楼完成提质改造并投用等，为全省经济社会发展持续注入动能。 国企改革深化提升行动扎实推进。作为新一轮深化国资国企改革的标志性、引领性工程，上半年，省属 国有企业"1+8"重点领域改革各项工作平稳有序推进，能源领域战略性重组取得明显成效，重点领域专 业化整合有序推进。此外，在加快盘活利用闲置低效资产、创新推进国有资产监管体制改革等方面，四 川也取得了阶段性成果。 作为 ...

7月28日，省属监管企业经济运行分析暨半年工作会议在成都举行。今年上半年，省属监管企业全力以 赴拼经济搞建设、抓改革促创新、强监管防风险，国有经济运行企稳回升。1—6月，省属监管企业资产 总额2.97万亿元、营业总收入3062亿元、上缴税费137亿元，分别同比增长9.8%、0.7%、3.3%，完成投 资1225亿元。 "上半年，省属监管企业市场开拓成效明显，有效发挥了投资拉动作用，管理效率不断优化，资本运营 效能明显提升。"省国资委相关负责人表示。 一批重大项目建设刷新进度。上半年，蜀道集团苍巴高速全线建成通车，成南高速扩容全线9座隧道全 部贯通；四川能源发展集团银江水电站3号机组、泸州气电1号机组投产发电；四川机场集团成都双流国 际机场T1航站楼完成提质改造并投用等，为全省经济社会发展持续注入动能。 国企改革深化提升行动扎实推进。作为新一轮深化国资国企改革的标志性、引领性工程，上半年，省属 国有企业"1+8"重点领域改革各项工作平稳有序推进，能源领域战略性重组取得明显成效，重点领域专 业化整合有序推进。此外，在加快盘活利用闲置低效资产、创新推进国有资产监管体制改革等方面，四 川也取得了阶段性成果。 产业布局 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600025 证券简称：华能水电 公告编号：2025-048 华能澜沧江水电股份有限公司（以下简称公司）已于近日完成了2025年度第五期科技创新债券和第八期 绿色超短期融资券（乡村振兴）的发行，发行额分别为人民币10亿元、15亿元，发行利率分别为 1.63%、1.65%，期限分别为184天、108天，单位面值均为100元人民币。本次发行完成后，公司短期融 资券（含超短期融资券）余额为人民币55亿元，中期票据（含永续中票）余额为人民币180亿元。 2025年度第五期科技创新债券由中国银行股份有限公司作为牵头主承销商，中国建设银行股份有限公司 作为联席主承销商。第八期绿色超短期融资券（乡村振兴）由中国农业银行股份有限公司作为主承销 商，通过簿记建档、集中配售的方式在全国银行间债券市场公开发行，债券募集资金将用于偿还带息负 债。债券发行的有关文件已在中国货币网和上海清算所网站公告，网址分别为www.chinamoney.com.cn 和www.shclearing.com。 二、审批程序履行情况 公司2025年5月27日召开的2024年年度股东大会审议通过 ...