中国南方电网有限责任公司（以下简称"南方电网"）董事长、党组书记孟振平表示，南方电网将深入贯彻落实数字中国、 能源强国战略部署，进一步做强做优做大数字电网产业生态，更好服务支撑能源电力产业智能化、绿色化、融合化转型升级， 加快塑造能源电力生产力新质态。接下来，将全力支持南网数字高质量发展，将其打造成为数字电网领域的龙头上市公司，以 优秀业绩回报广大投资者和社会各界。 当前，我国电力能源系统正处于绿色低碳转型的关键阶段。"十五五"规划建议明确提出"加快建设新型能源体系、建成统 一电力市场"。 2019年，南方电网率先提出"数字电网"理念，同年7月成立全球首家数字电网研究院，即南方电网数字电网研究院股份有 限公司。南网数字践行南方电网数字化转型战略支援部队和数字电网建设主力军的战略使命，打造数字电网关键载体，以数字 化绿色化协同促进新型能源体系和新型电力系统建设。 本报讯 （记者王镜茹）11月18日，南方电网数字电网研究院股份有限公司（以下简称"南网数字"）在深圳证券交易所正式 挂牌上市。 南网数字的成功上市，彰显了资本市场对数字电网发展前景的高度认可，为构建安全、智能、绿色的新型电力系统注入强 劲动能，打造了南 ...

Core Viewpoint - The sixth International Forum on New Power Systems and the 21st International Technology Forum of China Southern Power Grid focuses on key technological breakthroughs, policy mechanism innovations, market model explorations, and industrial ecosystem cultivation to promote the construction of an open, collaborative, and efficient global energy governance system [1][4]. Group 1: Forum Overview - The forum, themed "Building a New Power System and Accelerating Energy Low-Carbon Transition," was held in Boao, Hainan, gathering representatives from domestic and international energy and power authorities, industry associations, and experts to discuss the blueprint for new power system construction [2][4]. - The forum aims to share innovative achievements and discuss development paths, contributing to the global energy transition [4]. Group 2: Achievements in Clean Energy - The Southern region of China, including Guangdong, Guangxi, Yunnan, Guizhou, and Hainan, is witnessing a significant transition where clean energy is steadily replacing coal as the main power supply, with non-fossil energy installed capacity nearing 70% and generating over half of the total power [8]. - The clean energy utilization rate in the Southern region has consistently remained above 98%, marking a historic shift in the power supply structure [8]. Group 3: Technological Innovations and Challenges - The construction of a new power system is essential for China's energy revolution, with significant advancements in ultra-high voltage transmission, smart grids, and renewable energy consumption achieved through technological innovation and institutional reforms [4][11]. - The integration of high proportions of renewable energy sources like wind and solar presents challenges such as random fluctuations and efficient consumption, necessitating the development of distributed smart grids and microgrids [11][12]. Group 4: Digital Transformation and Future Directions - The Southern Power Grid Company is focusing on enhancing its digital capabilities to improve energy management and grid reliability, achieving a demand response capability of 7.6% and a controllable load of 25% of peak load [13]. - The company aims to promote low-carbon development paths and replicate successful models like zero-carbon parks and smart microgrids, while also pushing for key technological innovations in digital grids and energy storage [13][18]. Group 5: Global Energy Governance - China is increasingly participating in and leading the global energy transition, with the Boao zero-carbon demonstration zone serving as a model for new power systems and showcasing China's energy governance wisdom [16][18]. - The Southern Power Grid Company is collaborating with various stakeholders to create an inclusive and mutually beneficial regulatory framework, exploring innovative market mechanisms to optimize resource allocation [17][18].

Core Points - The IPO registration of Southern Power Grid Digital Grid Research Institute Co., Ltd. (referred to as "Southern Digital") was approved on October 17, marking a significant milestone in the current capital market reform [1][2] - The rapid approval process, taking only 91 days from application to listing, showcases the effectiveness of the "strict supervision and fast review" approach adopted by regulatory authorities [1][2] - Southern Digital's successful IPO reflects its strong adaptability to the new regulatory environment and highlights the support from the Shenzhen Stock Exchange and the China Securities Regulatory Commission for leading enterprises aligned with national strategies [2] Company Summary - Southern Digital's IPO will enhance its research and development capabilities and expand its business scope, contributing positively to the digital transformation of the energy industry and supporting the national "dual carbon" goals [2] - The company is recognized as a representative enterprise in the energy digitalization sector, possessing core technologies and a wealth of application scenarios in key areas such as digital grids and energy intelligence [2] - Southern Digital's strong operational capability and innovation potential were crucial for its successful IPO registration, demonstrating its ability to maintain sustainable operations [2] Industry Context - The current capital market is experiencing a warming trend, with a general consensus that IPOs are gradually recovering and accelerating [2] - The China Securities Regulatory Commission has introduced multiple policy measures to enhance inclusivity, aiming to attract more high-quality technology companies to the A-share market [2] - Southern Digital serves as a benchmark case for the efficiency and quality of the registration system, injecting momentum into the development of industry leaders through capital platforms [2]

Core Viewpoint - Shenzhen Energy has signed a partnership agreement to establish a private equity investment fund focused on the renewable energy sector, with a total fund size of RMB 1 billion [1] Group 1: Fund Establishment - The fund is named Shenzhen Deep Investment Control East Sea New Energy Industry Private Equity Investment Fund Partnership (Limited Partnership) [1] - The fund will be managed by Shenzhen Investment Control East Sea [1] - Shenzhen Energy will contribute RMB 10 million as a limited partner in the fund [1] Group 2: Investment Focus - The fund will invest 100% of its available capital in the renewable energy sector [1] - Key investment areas include digital power grids, charging and swapping facilities, wind, solar, hydroelectric power, natural gas, hydrogen energy, energy conservation and environmental protection [1] - The fund will also focus on core materials and components, key parts and products, comprehensive solutions, and infrastructure construction within these sectors [1]

Core Viewpoint - The IPO application of Southern Power Grid Digital Grid Research Institute Co., Ltd. (referred to as "Southern Digital") has been approved by the Shenzhen Stock Exchange, highlighting the company's strong industry position and growth potential in the digital energy sector [1][4]. Group 1: IPO Process and Approval - Southern Digital's IPO application was accepted on June 27, 2025, and successfully passed the review on September 26, taking only 91 days from acceptance to approval [4]. - The efficient approval process is attributed to Southern Digital's solid business foundation and clear strategic positioning, as well as the Shenzhen Stock Exchange's precise support for "three innovations and four new" enterprises [4]. Group 2: Business Overview and Market Position - As a specialized digital enterprise incubated by Southern Power Grid, Southern Digital's business encompasses three main areas: digital grid, enterprise digitization, and digital infrastructure, possessing core technologies in digital energy and intelligent energy sectors [5]. - Industry analysts believe that Southern Digital's significant industry status and growth potential align with the "three innovations and four new" positioning of the Growth Enterprise Market, which is crucial for gaining regulatory approval and market favor in a tightening regulatory environment [5]. Group 3: Impact on the Energy Sector - The Shenzhen Stock Exchange continues to optimize its issuance and listing review mechanisms, actively supporting high-quality enterprises with core competitiveness to access the capital market, thereby injecting momentum into industry leaders [5]. - Southern Digital's rapid approval under stringent regulatory conditions demonstrates its strong adaptability and compliance, showcasing its ability to effectively respond to high scrutiny and rapid review processes [6]. - The IPO is expected to enhance Southern Digital's R&D capabilities and expansion efforts, positively impacting the digital transformation of the energy industry and supporting the national "dual carbon" goals [6].

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].