2025年12月18日，调控中心组织开展"凡事必较真，事前零容忍"安全文化活动，加大力度宣贯广东电网 公司党建领安8条和中心安全管理15条准则，以历年电网安全生产典型案例为题干，让员工主动辨识案 例中的安全隐患和风险点，通过互动答题增强安全防范意识，提升全员思想认知水平，营造沉浸式安全 环境，使安全理念植入行为、筑牢根基。 深化运用"铁三角"机制 2025年12月29日，南方电网广东电网电力调度大厅屏幕显示，广东电网安全运行天数已达10970天，意 味着全国最大省级电网安全稳定运行超过30年。 2025年，广东成为全国首个用电负荷突破1.6亿千瓦的省份，同比增长4.38%，南方电网广东电网调控中 心（以下简称"调控中心"）作为电网系统运行指挥"最强大脑"，着力培育"凡事必较真，事前零容忍"安 全文化生态，在能源供应、调度运行等重要任务中发挥着坚强稳定的安全支撑作用。 "凡事必较真，事前零容忍" 调控中心党委构建全域闭环安全监督体系，以最高标准圆满完成"十五运"保电监管任务。在关键生产任 务和重大风险挑战面前，服务型党组织发挥战斗堡垒作用，齐抓共管保安全，精准发布防风防汛应急预 警11次，高效启动应急响应37次 ...

在这一热烈的市场表现背后，除了投资者信心回暖、上市公司质量提升等因素之外，产业资本的常态化 回购、增持也起到了重要支撑。 数据显示，2025年A股市场合计1494家上市公司实施回购，回购总金额高达1427.36亿元。同期，还有 534家次的上市公司股东发布增持公告，拟增持金额的上限达到839.22亿元。 其间，回购增持再贷款也持续发力，2025年合计有522家上市公司或其股东披露回购增持再贷款情况， 贷款金额上限达到1111.65亿元。截至2026年1月8日，A股市场披露的回购增持再贷款单数已经达到789 单，贷款金额上限合计1606.20亿元。因此，2025年全年A股市场回购增持总规模合计2266.58亿元。 | | | 编者按： 市场活水铸信心 2025年的A股市场暖意尽显，上证指数重回4000点，总成交额刷新历史纪录，市场信心持续回暖。在此 背景下，产业资本全年回购增持规模超2200亿元，为市场注入强劲动能。公募基金自购金额同比大增 51.8%至5626.58亿元，转向长期价值投资方向。二者共同发力，不仅为资本市场带来活水，更传递出对 中国资本市场内在价值与长期发展的坚定信心。 回望2025年的A股市场 ...

Core Points - The third "Hainan Province Outstanding Skilled Talent Award" recognizes 45 individuals for their contributions to various industries, promoting a culture of respect for labor and skills [1] - The award includes three categories: Senior Technician Award, Technician Award, and Skilled Talent Award, with 15 recipients in each category [1] - Awardees come from diverse sectors, including education, energy, pharmaceuticals, and agriculture, highlighting the importance of skilled talent in supporting Hainan's Free Trade Port development [1] Group 1: Award Categories - The Senior Technician Award recognizes individuals with outstanding contributions, with notable winners from institutions like Hainan Technician College and companies such as China National Offshore Oil Corporation [2] - The Technician Award also features significant contributors from various fields, including tea production and pharmaceuticals, showcasing the breadth of skilled professions in Hainan [3] - The Skilled Talent Award honors individuals excelling in technical roles across multiple industries, emphasizing the critical role of skilled workers in the local economy [4] Group 2: Industry Representation - Awardees represent a wide range of industries, including energy (Hainan Nuclear Power Co., China National Petroleum Corp.), education (Hainan Technician College), and agriculture (Hainan Tea Industry) [1][2][3] - The recognition of skilled talent from both public institutions and private enterprises indicates a collaborative effort to enhance skill development in Hainan [1] - The initiative aims to create a supportive environment for skilled professionals, which is essential for the sustainable growth of Hainan's economy and its Free Trade Port ambitions [1]

记者丨杨坪 编辑丨包芳鸣 回望2025年的A股市场，整体呈现向好态势，上证指数重回4000点，近八成上市公司股价上涨，总成交 额创出420万亿元的历史纪录。 在这一热烈的市场表现背后，除了投资者信心回暖、上市公司质量提升等因素之外，产业资本的常态化 回购、增持也起到了重要支撑。 Wind数据显示，2025年A股市场合计1494家上市公司实施回购，回购总金额高达1427.36亿元。同期， 还有534家次的上市公司股东发布增持公告，拟增持金额的上限达到839.22亿元。 其间，回购增持再贷款也持续发力，2025年合计有522家上市公司或其股东披露回购增持再贷款情况， 贷款金额上限达到1111.65亿元。截至2026年1月8日，A股市场披露的回购增持再贷款单数已经达到789 单，贷款金额上限合计1606.20亿元。因此，2025年全年A股市场回购增持总规模合计2266.58亿元。 龙头企业密集回购增持 近年来，在政策引导及企业主动释放发展信心的双重作用下，A股上市公司股份回购、重要股东增持等 举措持续走向常态化。 梳理来看，2025年实施回购的上市公司中，有293家企业回购金额过亿元，15家企业回购金额超过10亿 ...

Core Insights - The Northwest Power Grid is set to achieve a record scale of cross-regional direct current and 750 kV projects by 2025, with the addition of 4 new cross-regional direct current projects and 35 new 750 kV projects, supporting national energy security and regional economic development [1] - By 2025, the direct current delivery capacity of the Northwest Power Grid will exceed 95 million kW, an increase of 24.6 million kW compared to 2024, surpassing the total increase during the 13th Five-Year Plan period [1] - The construction of key 750 kV projects will enhance the structure of the Northwest main grid, improving both power delivery capacity and supply reliability [1][2] Project Details - In 2025, the Northwest Power Grid will see the completion of 15 new substations, 36 main transformers, and 57 new lines, marking a historic high in scale [1] - The successful implementation of these projects is attributed to effective coordination between the State Grid Northwest Branch and relevant government departments, ensuring timely and safe operation [1] Strategic Importance - During the 14th Five-Year Plan period, the total scale of the Northwest Power Grid is expected to grow by over 50% compared to the end of the 13th Five-Year Plan, reinforcing its role in power security and resource optimization [2] - The developments in the Northwest Power Grid are crucial for supporting the construction of clean energy bases and the implementation of the new era's western development strategy [2]

新质生产力发展起步成势 风电装机在全国率先突破1亿千瓦，全年新增新能源装机3500万千瓦，装机达到1.7亿千瓦以上、发电量 2700亿度，发电量连续10年以上全国第一，全年外送绿电900亿度、同比增长40%以上。 电力系统支撑调节能力进一步提升 深入实施强网工程，蒙东电网"七横一纵"、蒙西电网"四横六纵"500千伏主干网架建设全面完成。累计 建成投运新型储能规模超过1700万千瓦，同比增长144%。 绿色煤矿、智能化煤矿占在产煤矿的比重达到61%、74%，氢能、储能、新型电力系统等领域10项技术 装备入选国家首台(套)重大技术装备名单，全年绿氢产量率先突破1万吨，领跑全国。 近日，内蒙古能源工作会议暨行业安全生产会议召开，公布了2025年内蒙古能源系统数据。2025年，内 蒙古能源系统坚持以能源安全新战略为指引，全力推进国家重要能源和战略资源基地建设，全区能源工 业增加值同比增长5%以上，能源重大项目完成投资超3000亿元，能源工业投资约占全区固定资产投资 的35%，为全区经济高质量发展提供了有力支撑。能源安全供应保障能力显著提升 内蒙古完成国家下达的7.95亿吨煤炭保供任务量，电力总装机在全国率先突破3亿千 ...

中国上市公司协会与责扬天下（北京）管理顾问有限公司联合发布的《2025年中国上市公司ESG价值核算报告》，系统梳理了近年来国内外在环境与社会影 响核算方面的研究成果和实践进展。ESG价值核算通过量化企业在环境和社会方面的外部性影响，为评估公司可持续表现提供了直观的货币化工具。 A股及港交所上市的内地公司ESG报告发布数量持续增长，关键指标披露率逐年提升，数据质量明显改善。2024年二氧化碳排放数据质量达到A级的公司数 量较2022年增长超过50%。在ESG价值核算方面，实现正面净影响的公司数量持续增加，环境与资源使用强度有所下降，社会价值创造能力不断提升。 报告还分析了ESG价值核算在投资领域的应用。通过因子分析验证了多个ESG价值核算指标的有效性，结果显示多数指标具备良好的稳定性和相关性。以 ESG风险机遇价值为选股因子构建的投资组合，在回测中表现出正向超额收益，表明ESG价值核算数据在投资策略中具有实际应用价值。 在企业运营层面，ESG价值核算可支持双重重要性分析，帮助企业优化信息披露和管理决策。随着《企业可持续价值核算指南》国家标准的推进，ESG价值 核算逐步走向标准化，为企业提供系统、科学的指导，助力 ...

近年来，"获得电力"已成为世界银行评估营商环境成熟度的关键指标。根据企业调查结果，在已公布的 第一、第二批经济体中，中国涉及的7项涉电关键指标均位列全球前列，包括3项排名第一，2项排名第 二，1项排名第五，1项排名第九，彰显了我国在电力公共服务领域的显著进步。作为世行评估的样本城 市，上海企业填报的接电时间2天，停电次数、时长及损失均为零，位列全球最优梯队。这一成就，是 上海多年久久为功、持续深化电力营商环境改革的结果，也印证了稳定、智慧、绿色的电力供应已成为 吸引高端产业、孕育新质生产力的战略性基础资源。 二、从"坚强电网"到"智慧大脑"：数字赋能构筑顶级可靠性 上海将电网韧性建设置于首位，通过持续升级智能巡检与故障自愈系统，2025年全市供电可靠率已达到 世界主要城市顶尖水平，户均停电时间保持极低位运行。在世行调查中企业停电感知三个"零"的记录， 正是这一硬实力的直接体现。 精准"主动改造"，消除网络瓶颈。国网上海电力通过馈线自动化改造、网架优化、"一线一案"等精准治 理举措，2025年迎峰度夏期间过载台区数量同比大幅下降超92%，显著提升配网承载能力。 智能"主动运检"，预见设备隐患。国网上海电力建设了 ...

Market Performance - The A-share market has shown slight fluctuations, with the Shanghai Composite Index closing at 4,082.98, down 0.07%, and the Shenzhen Component Index at 13,959.48, down 0.51% [3] - The average P/E ratios for the Shanghai Composite and ChiNext are 16.76 and 51.97, respectively, indicating a suitable environment for medium to long-term investments [9][14] - The trading volume in the two markets has remained above the median level for the past three years, with significant interest in sectors such as aerospace, shipbuilding, and internet services [8][9] Economic and Policy Insights - The Ministry of Commerce has emphasized the importance of compliance with Chinese laws for foreign investments and technology exports, particularly in the context of Meta's acquisition of Manus [4][5] - The government is committed to expanding high-level openness, with the Hainan Free Trade Port serving as a key initiative [5] - The macroeconomic strategy indicates a continuation of moderately loose monetary policy, with expectations for credit growth and supportive measures for consumption [10][11] Industry Analysis - The aerospace and shipbuilding sectors have led the A-share market, while the financial and materials sectors have shown weaker performance [9][13] - The food and beverage sector has faced challenges, with a notable decline in traditional categories like liquor, while emerging categories such as snacks and health products have performed better [16][17] - The gaming industry is experiencing steady growth, with animation films significantly contributing to box office revenues [20][22] Investment Recommendations - Investment opportunities are recommended in sectors such as soft drinks, health products, and baked goods, with specific stocks highlighted for potential growth [18] - The semiconductor industry continues to show robust growth, with global sales increasing significantly, indicating a strong market outlook [25] - The new materials sector is expected to benefit from ongoing demand and technological advancements, with a recommendation to focus on leading companies in this space [26][27] Sector-Specific Developments - The electric power sector has seen a mixed performance, with the overall index underperforming compared to the broader market, but specific segments like wind and solar power are gaining traction [30][31] - The photovoltaic industry is experiencing price increases for silicon wafers and batteries, driven by supply-demand dynamics and cost pressures [33][35] - The livestock sector is stabilizing, with pig prices showing signs of recovery, while pet food exports continue to grow [37][38]

Group 1 - The Ministry of Commerce of China supports enterprises in conducting cross-border operations and international technology cooperation in accordance with laws and regulations [1] - The Ministry will assess the consistency of Meta's acquisition of Manus with relevant laws and regulations regarding export control and foreign investment [1] Group 2 - The U.S. President Trump has threatened Iran with severe consequences if there are further deaths related to the ongoing unrest [2] - The Venezuelan National Assembly announced the formation of a high-level committee to push for the release of President Maduro and his wife [3] Group 3 - The Ministry of Commerce of China reaffirmed its commitment to deepen economic and trade relations with Venezuela, despite external pressures [4] - The Ministry supports the integration of Hong Kong and Hainan for coordinated development within the national strategy [5] Group 4 - Multiple departments in China reiterated the need to regulate the competition order in the power and energy storage battery industry to avoid irrational competition [6] - The Ministry of Education plans to launch a new round of "Double First Class" university construction in 2026, focusing on optimizing higher education structure [7] Group 5 - Guangzhou's government has issued a plan to accelerate the development of five strategic leading industries, including artificial intelligence and new energy [8] - Jiangxi Province is promoting the "Ying Shan Hong Action" to support technology companies in planning for public listings by 2027 [9] Group 6 - Chongqing has opened applications for the remaining budget of the 2025 automobile replacement subsidy, amounting to 59.6 million yuan [10] - Guizhou Province is implementing policies to support the development of county economies and enhance industrial quality [11] Group 7 - The film "Zootopia 2" has extended its release until February 25, 2026, with a cumulative box office exceeding 4.261 billion yuan [12] Group 8 - The United Nations has warned that the U.S. may lose its voting rights in the General Assembly if it continues to delay payment of dues [13] - The U.S. Vice President stated that Venezuela can only sell its oil if it aligns with U.S. interests [14] Group 9 - The Venezuelan Foreign Minister reiterated the commitment to deepen economic cooperation with China, emphasizing the legal framework supporting bilateral relations [15] - The Venezuelan government is advancing a legislative agenda focused on economic development and sovereignty protection [16] Group 10 - Ukraine's President announced that a bilateral security assurance document with the U.S. is ready for finalization [17] - Iran's Foreign Minister stated that Iran is prepared to respond to any situation while emphasizing a desire for negotiations based on mutual respect [18] Group 11 - The Fukushima nuclear power plant issued an alarm due to a malfunction in the cooling system for contaminated water [19] Group 12 - Alibaba is increasing investment in Taobao Flash Sales to achieve market leadership by 2026 [20] - BYD has launched new car models with limited-time tax incentives, with prices starting at 92,800 yuan after subsidies [21] Group 13 - The U.S. stock market showed mixed results, with the Dow Jones rising while the Nasdaq fell, influenced by declines in AI and tech stocks [22] - Institutions were active in the market, with significant net purchases and sales of various stocks [23][24]