来源：上海证券报·中国证券网 上证报中国证券网讯（记者 时娜）深交所官网披露，南方电网数字电网研究院股份有限公司（下称"南网数字"）IPO申请已在近日召开的深交所上市委会议 中获审议通过。 南网数字IPO申请于2025年6月27日获受理，9月26日成功过会，从受理到过会仅用时91天。其高效过会，得益于其深厚的业务根基与清晰的战略定位，也离 不开深交所对"三创四新"企业的精准支持。 根据招股书，作为南方电网孵化的专业数字化企业，南网数字业务涵盖电网数字化、企业数字化及数字基础设施三大板块，在数字电网和能源智能化领域拥 有核心技术。有行业分析人士认为，南网数字显著的行业地位与成长潜力，符合创业板"三创四新"的定位，是其在当前趋严的监管环境下仍能获得监管认可 与市场青睐的关键。 在当前资本市场深化改革的背景下，深交所持续优化发行上市审核机制，积极支持符合国家战略、具备核心竞争力的优质企业登陆资本市场。深交所通过完 善的审核机制实现优质企业与资本市场的高效对接，为行业龙头利用资本平台发展注入动能。 据了解，在监管趋严、上市标准提高的市场环境下，南网数字的快速过会，与其主动提高规范标准，扎实做好申报准备有关。面临回复时 ...

Core Viewpoint - The report highlights the significant transformation of China's power grid industry into a digital grid era, emphasizing the integration of advanced digital technologies to enhance the safety, reliability, and efficiency of power operations, while promoting a new energy industry ecosystem that connects various stakeholders [2][6]. Group 1: Digital Grid Overview - The digital grid is defined as the application of new digital technologies such as cloud computing, big data, IoT, mobile internet, AI, and blockchain to transform traditional power grids, enhancing flexibility, openness, interactivity, economy, and sharing [3][4]. - The architecture of the digital grid consists of physical systems, business systems, and information systems, which collectively enable real-time data collection, transmission, storage, analysis, and optimization [3][4]. Group 2: Characteristics of Digital Grid - Key characteristics of the digital grid include: 1. **Safety**: Utilizing advanced digital technologies to create a digital twin grid for intelligent decision-making and stable operation [5]. 2. **Green Consumption**: Achieving precise forecasting of renewable energy output and balancing distributed energy supply and demand [5]. 3. **Platform Empowerment**: Developing integrated digital business platforms to support business innovation and new demands [5]. 4. **Data-Driven**: Leveraging data across the energy value chain to optimize business processes [5]. 5. **Open Sharing**: Promoting collaboration among stakeholders in the energy ecosystem through digital technologies [5]. 6. **Value Creation**: Enhancing economic value through energy flow and maximizing data value for differentiated services [5]. Group 3: Development History of Digital Grid - The development of China's digital grid can be categorized into four stages: 1. **Grid Automation (1999-2009)**: Initial trials and significant advancements in distribution automation [6]. 2. **Grid Informationization (2007-2012)**: Integration of information systems leading to enhanced data transmission and processing [6]. 3. **Smart Grid (2010-2020)**: Emphasis on building a robust smart grid with integrated information, automation, and interaction [6]. 4. **Digital Grid (2020-Present)**: Introduction of the digital grid concept, focusing on the integration of digital technologies with energy business operations [6][7]. Group 4: Current Status and Market Potential - The digitalization market for China's power energy is projected to reach CNY 315 billion in 2024, with a year-on-year growth of approximately 14.55%, and is expected to grow to CNY 370 billion in 2025, reflecting a compound annual growth rate of 10.86% from 2020 to 2025 [8][11]. - The market is divided into digital services (CNY 262 billion in 2024) and digital upgrade transformations (CNY 53 billion in 2024), with services expected to dominate the market share [8]. Group 5: Investment Trends and Future Outlook - Investment in grid construction is primarily driven by State Grid and Southern Grid, with projected investments reaching CNY 608.3 billion in 2024, marking a 15.32% increase [11][12]. - Both State Grid and Southern Grid are committed to long-term digital investment plans, aiming to establish a robust digital energy internet by 2035 [11][12]. Group 6: Key Development Focus Areas - Current focus areas for digital grid development include: 1. **Intelligent Operation and Maintenance**: Enhancing maintenance efficiency through advanced monitoring and diagnostic technologies [13]. 2. **Renewable Energy Integration**: Improving the capacity to absorb renewable energy through digital technologies [14]. 3. **Smart Scheduling**: Coordinating resources across the grid to enhance operational efficiency [15].