Core Viewpoint - The article highlights the significant increase in travel and traffic congestion during the National Day holiday, with popular tourist destinations experiencing record visitor numbers and highways facing unprecedented traffic volumes [3][11][26]. Group 1: Tourist Attractions - On October 1, the first day of the National Day holiday, West Lake in Hangzhou received 446,300 visitors, a year-on-year increase of 12.33% [3] - Major attractions like the Forbidden City and Jiuzhaigou have reported sold-out tickets, with Jiuzhaigou stating that tickets for several days were fully booked [8] - The peak travel day coincided with the National Day and Mid-Autumn Festival, leading to high demand for tickets at various scenic spots [8] Group 2: Traffic Conditions - On September 30, Guangdong's highway network recorded over 10 million vehicle trips in a single day, setting a historical peak [11] - Travelers faced severe traffic jams, with reports of vehicles moving only a few kilometers in several hours, highlighting the congestion on major highways [9][15] - The article describes the frustration of travelers who experienced long delays, with some stuck in traffic for over 14 hours [13][20] Group 3: Electric Vehicle Charging - High demand for electric vehicle charging stations led to long wait times, with some drivers reporting waits of up to 4 hours to charge their vehicles [18][20] - The increase in electric vehicle usage during the holiday has put pressure on charging infrastructure, leading to reports of queues at service areas [22][23] - Despite the growth in charging stations, the article notes that many drivers still prefer to charge on the highway due to the convenience compared to finding standalone charging stations [23]

Group 1 - The core point of the article is that Jiurong Holdings (02358.HK) has announced the conditional sale of 100% equity in Jiangsu Jiurong Comprehensive Energy Service Co., Ltd. to Nanjing State Grid Electric Power Technology for a cash consideration of RMB 6.87 million [1] - The target company is required to repay approximately RMB 1.06 million in principal and RMB 0.018 million in accrued interest owed to the seller, which will be undertaken by the buyer on behalf of the target company [1] - The board believes that the sale provides an opportunity to readjust the electric vehicle charging station portfolio, as the current site and conditions are insufficient to meet operational needs and require additional capital investment [1] Group 2 - The buyer is an independent third party established under the laws of the People's Republic of China, primarily engaged in power automation, smart grid measurement and control products, new energy industry, and power demand-side management [1] - The company plans to hold a board meeting on September 19 to approve the annual performance [2]

Core Viewpoint - The article highlights the issue of "zombie charging piles" in China's electric vehicle infrastructure, emphasizing the disparity between the number of charging stations and their actual usability, which leads to significant resource waste and user dissatisfaction [4][8][21]. Current Situation Overview - By 2025, China's electric vehicle ownership is projected to reach nearly 40 million, with over 20 million charging piles, achieving a "car-to-pile ratio" of 2:1, close to the policy-planned level [7]. - Despite the apparent abundance of charging stations, many are non-functional or occupied by gasoline vehicles, leading to a significant number of idle parking spaces [8][10]. - A survey in a northern provincial capital found that 30% of public charging stations were either completely unusable or had insufficient power, severely impacting daily travel for EV owners [10][11]. - The availability of charging piles varies significantly by region, with first-tier cities maintaining an 85% usability rate, while third and fourth-tier cities often fall below 50% [12]. Problem Analysis - The "zombie pile" phenomenon is attributed to multiple factors, including flawed policy design, inadequate market mechanisms, and outdated technical standards [15][16]. - The subsidy mechanism has incentivized short-term behavior, leading to the installation of charging piles in low-traffic areas without proper operational support [17]. - The market is expected to undergo a harsh shakeout in 2024, with 37 charging operators projected to exit, leaving behind neglected infrastructure [19]. - Technical standards are lagging, focusing more on construction than on operational requirements, complicating maintenance and interoperability [20]. Impact on the Industry - The ongoing issues with charging infrastructure are negatively affecting user experience, with a reported satisfaction score of only 68 out of 100 for EV users, a decline of 11 points from 2023 [21]. - The inability to charge conveniently is becoming a significant factor in consumer decisions against purchasing EVs, with an estimated investment of over 60 billion yuan tied up in non-functional charging piles [22]. - The negative perception of charging difficulties is growing, with a 75% increase in negative discussions on social media regarding charging issues in the first half of 2025 [22]. Solutions Proposed - To address the "zombie pile" issue, it is essential to restructure policy incentives, shifting focus from construction to operational efficiency, as demonstrated by Shenzhen's successful implementation of a "per kilowatt-hour subsidy" policy [25]. - Establishing a comprehensive lifecycle management system for charging facilities is recommended, including mandatory inspections and real-time monitoring to ensure operational reliability [26]. - Promoting technological innovation and standardization is crucial, with examples like Huawei's AI maintenance platform showcasing potential improvements in operational efficiency [26]. - Exploring diversified business models, such as integrating leisure facilities at charging stations, can enhance user experience and increase revenue [27]. Conclusion - The "zombie pile" phenomenon reflects the challenges faced by China's electric vehicle industry as it transitions from rapid growth to high-quality development [28]. - A collaborative approach involving government, enterprises, and users is necessary to create a sustainable charging service system that supports the healthy development of the EV industry and achieves strategic energy transition goals [28].