Core Viewpoint - The report from Huatai Securities emphasizes that the economic focus on expanding domestic demand and promoting high-quality development will remain unchanged through 2025, with electricity demand expected to continue growing at a rate that outpaces GDP growth due to new productive forces, secondary industry exports, and residential consumption [1] Summary by Relevant Categories Electricity Demand - The peak electricity load has been consistently breaking records since June due to historical high temperatures, indicating strong electricity demand [1] - The expectation for electricity demand growth remains robust, driven by various factors including new productive forces and residential consumption [1] Industry Trends - The growth in electricity demand is anticipated to stimulate investment in power equipment and power supply equipment industries [1] - There is a positive outlook for the power equipment sector, particularly in relation to the investment in main distribution networks and the demand for base-load supportive power sources [1]