证券日报网讯1月9日，中国能建（601868）在互动平台回答投资者提问时表示，公司围绕"数能融合"发 展理念，依托投建营一体化、源网荷储一体化等优势，以及人工智能及存储、超算、云计算等方面专业 优势，为人工智能算力基础设施建设发挥了积极作用。公司积极参与国家东数西算工程，大力推进绿色 算力网络建设，已在甘肃庆阳、宁夏中卫、安徽芜湖、山西大同、北京经开区等多个枢纽节点投资或布 局了数据中心项目，通过"新能源开发+智能电网+源网协同"三位一体模式，为算力中心提供稳定电 源。其中，甘肃庆阳大数据产业园示范项目设计总功率为60000kW，一期工程示范项目已于2024年9月 点亮投运。 ...

中国能建（601868.SH）1月9日在投资者互动平台表示，公司积极顺应"人工智能+""东数西算"等国家战 略，围绕"数能融合"发展理念，依托投建营一体化、源网荷储一体化等优势，以及人工智能及存储、超 算、云计算等方面专业优势，为人工智能算力基础设施建设发挥了积极作用。公司积极参与国家东数西 算工程，大力推进绿色算力网络建设，已在甘肃庆阳、宁夏中卫、安徽芜湖、山西大同、北京经开区等 多个枢纽节点投资或布局了数据中心项目，通过"新能源开发+智能电网+源网协同"三位一体模式，为 算力中心提供稳定电源。其中，甘肃庆阳大数据产业园示范项目设计总功率为60000kW，一期工程示范 项目已于2024年9月点亮投运。 每经AI快讯，有投资者在投资者互动平台提问：公司拥有新能源电站（光伏等）+ 火电站互补的能源供 给优势，叠加数据中心业务基础，请问是否计划把握这一机遇，推出 "绿色能源供给 + 稳定电力保障 + 数据中心运维" 一站式服务，助力人工智能产业发展？ （文章来源：每日经济新闻） ...

大家早上壕！ 先看海外要闻： 美股继续小幅调整，道指收跌0.2%、纳指收跌0.24%、标普500收跌0.14%；Meta收涨1.10%、微软收涨0.08%、谷歌A收涨0.09%、亚马逊收涨 0.20%、英伟达收跌0.36%、苹果收跌0.25%、特斯拉收收跌1.13%。 美联储会议纪要："大多数"官员预计12月后适合继续降息，部分主张"一段时间"按兵不动。 英媒：美政府已颁发许可证，批准韩企向中国出口芯片制造设备。 亚马逊：将为美国政府机构AI系统投资高达500亿美元。 马斯克证实xAI购入第三栋建筑，训练算力将接近2吉瓦。 报道：软银已完成对OpenAI的400亿美元投资承诺。 石油供应过剩迹象明显，与会代表称OPEC+可能会维持暂停增产计划。 特斯拉罕见公布分析师预测：Q4交付量或下滑15%，税收补贴退坡与竞争加剧冲击需求。 国内重大事件汇总： 今日券商策略前瞻： 光大证券表示，沪指10连阳，但连续三个交易日都是个股多数收跌，场内资金分歧明显；不过考虑到2025年仅剩最后一个交易日，指数有望以阳 线收官，结构性行情大概率将延续。 韩国总统访华。 国际白银大幅收涨，COMEX白银期货涨近8%。 点评：据方正证 ...

澳大利亚数据中心业主嘉民集团（Goodman Group）周二表示，已与加拿大养老金计划投资委员会 （CPPIB）签署了一项价值140亿澳元（约合93.2亿美元）的合作协议，将在德国法兰克福、荷兰阿姆 斯特丹和法国巴黎开发数据中心项目。 两家公司表示，这是CPPIB在欧洲的首个数据中心合作伙伴项目，双方各占一半股权，初始总资本承诺 为39亿澳元。 该合伙公司的投资组合包括四个项目，总计435兆瓦（MW）的主功率和282兆瓦的IT负载，这是交付给 服务器和其他计算设备的电力。 澳大利亚数据中心业主嘉民集团（Goodman Group）周二表示，已与加拿大养老金计划投资委员会 （CPPIB）签署了一项价值140亿澳元（约合93.2亿美元）的合作协议，将在德国法兰克福、荷兰阿姆 斯特丹和法国巴黎开发数据中心项目。 两家公司表示，这是CPPIB在欧洲的首个数据中心合作伙伴项目，双方各占一半股权，初始总资本承诺 为39亿澳元。 该合伙公司的投资组合包括四个项目，总计435兆瓦（MW）的主功率和282兆瓦的IT负载，这是交付给 服务器和其他计算设备的电力。 两家公司在联合声明中表示："所有项目都通过安全的电力连接、规划许 ...

近几周来，两大主题引发美股大幅波动：一是市场对企业在人工智能领域巨额投入的审视；二是投资者 对美联储 2026 年进一步降息预期的变化。 本周，甲骨文公司的一个数据中心项目引发市场质疑，拖累科技股及其他人工智能相关板块走低；而周 四公布的温和通胀数据则为股市带来提振。 "本周发布的经济数据进一步强化了市场对美联储倾向于降息的预期。" 爱德华・琼斯公司高级全球投 资策略师安杰洛・库尔卡法斯表示。 他指出，尽管经历了一年的稳健上涨后，未来几天投资者可能会选择获利了结，给市场带来一定抛售压 力，但最新数据 "或许为今年'圣诞涨势'的到来亮起绿灯"。 据《股票交易者年鉴》统计，自 1950 年以来，"圣诞涨势" 通常表现为：标普 500 指数在每年最后五个 交易日以及次年年初两个交易日期间，平均上涨 1.3%。今年这一时间段将从本周三开启，持续至明年 1 月 5 日。 投资者关注延迟经济数据与美联储动向 本周，投资者消化了因美国联邦政府停摆 43 天而延迟发布的一系列重磅经济数据。就业数据显示，11 月美国就业增长出现反弹，但失业率攀升至 4.6%，创下四年多以来的新高。 周四公布的另一项延迟报告显示，截至 11 月 ...

来源：智通财经 圣诞节即将到来，但华尔街在新一周来临之际并没有感受到多少节日气氛。标普500指数和纳指本月均 出现下跌，股市正经历一段不同寻常的疲弱时期。 近几周来，有两大主题引发了美股的剧烈波动：一是市场对企业在人工智能（AI）基础设施建设方面 巨额支出的审视不断加深；二是投资者对美联储在2026年进一步降息路径的预期发生变化。 本周早些时候，围绕甲骨文一项数据中心项目的疑问拖累了科技股及其他AI相关股票，而周四公布的 温和通胀数据则提振了股市。 标普500指数本周小幅上涨0.1%，纳指上涨0.5%，而道指则下跌0.7%。 Edward Jones高级全球投资策略师Angelo Kourkafas表示："本周的经济数据进一步巩固了市场对美联储 将维持降息倾向的预期。" 他补充称，尽管在接下来几天里，一些投资者可能会在经历了一个强劲的年份后选择锁定利润，从而带 来一定的抛压，但最新数据"很可能为今年出现'圣诞老人行情'亮起了绿灯"。 据《股票交易者年鉴》统计，自1950年以来，"圣诞老人行情"通常出现在一年中最后五个交易日以及次 年1月的前两个交易日，其间标普500指数的平均涨幅为1.3%。今年，这一窗口期从 ...

Group 1 - The company, Chengdi Xiangjiang, is primarily involved in operating data center projects for telecom operators, including China Mobile in Yangzhou and China Telecom in Yizheng [2]

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Viewpoints - The company achieved a significant increase in bidding amounts for both internal and external networks, actively expanding into the AIDC market to support its development [1][2] - The company's revenue for H1 2025 reached 4.02 billion yuan, a year-on-year increase of 15.62%, with a net profit attributable to shareholders of 476 million yuan, up 12.41% year-on-year [1] - The company is focusing on the automation of power grids and has seen a 60% increase in bidding amounts in the national grid's centralized bidding [2] - The company is also expanding its presence in the renewable energy sector, securing multiple projects in offshore wind power and data centers [3] Summary by Relevant Sections Financial Performance - In H1 2025, the company reported revenue of 4.02 billion yuan, a 15.62% increase year-on-year, and a net profit of 476 million yuan, up 12.41% year-on-year [1] - For Q2 2025, revenue was 2.19 billion yuan, a 13.44% year-on-year increase and a 19.92% quarter-on-quarter increase, while net profit was 235 million yuan, a decrease of 3.24% year-on-year [1] Business Segments - The power grid automation business generated revenue of 1.73 billion yuan in H1 2025, a 2.21% increase year-on-year, while the industrial automation business saw revenue of 2.00 billion yuan, a 31.25% increase year-on-year [2] - The company is actively participating in the AIDC market, winning bids for several data center projects and offshore wind power projects [3] Profit Forecast and Valuation - The report maintains the original profit forecast, expecting net profits of 869 million yuan, 1.00 billion yuan, and 1.13 billion yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 1.04, 1.20, and 1.36 yuan [4][5] - The current stock price corresponds to a P/E ratio of 16, 14, and 13 for 2025, 2026, and 2027 respectively [4][5]

Financial Data and Key Metrics Changes - The company reported a portfolio growth of 65% over the last twelve months and 7% over the last quarter, reaching a total of eight gigawatts, with a goal of 10 gigawatts by the end of 2025 [1] - The cash balance at the end of Q2 was approximately NOK 373 million, with zero debt and a strong cash position [7][40] - The average annual return on equity since 2020 has been 22%, with a capital distribution program that includes dividends and share buybacks [7][8] Business Line Data and Key Metrics Changes - The portfolio in Italy grew by 125% during the quarter, reaching close to 450 megawatts [2] - The company has initiated a new sales process for a combined 500 megawatts of onshore wind and solar projects in South Africa [3] - The company is focusing on battery energy storage systems (BESS) and expects to see high returns on best projects, trading above €200,000 per megawatt [9][41] Market Data and Key Metrics Changes - In Sweden, there were 500 hours of negative prices in Q2, with expectations of 2,000 hours annually, creating opportunities for best projects [4] - Wholesale prices in the Nordics are currently the lowest in Europe, returning to levels seen in 2020 due to various factors including weather and demand [5] - The data center market in the Nordics is projected to consume 62 terawatt-hours by 2050, indicating strong future demand [27] Company Strategy and Development Direction - The company maintains an asset-light business model with a focus on project development rather than construction, aiming for a five times return on projects [7][14] - There is a strong emphasis on early sales and maintaining a robust cash position to negotiate effectively with clients [14][16] - The company is exploring new markets while being cautious about entering new territories without established sales [39] Management's Comments on Operating Environment and Future Outlook - Management highlighted strong regulatory support for renewable energy in Europe, particularly in Germany and Italy, which is expected to drive growth [6] - The company anticipates signing numerous new projects in Italy and Germany, as well as continued growth in South Africa [11][20] - Management expressed optimism about the sales process and the potential for high returns in the onshore wind market in South Africa [34] Other Important Information - The company has completed the transition to become 100% renewable by selling its remaining shares in Hermana Holding [1] - There are ongoing discussions regarding grid agreements and project developments in various markets, including Germany and the UK [19][30] - The company is assessing data center opportunities that align with its existing portfolio, indicating a strategic fit for future growth [26][29] Q&A Session Summary Question: What is the outlook for the company's growth in new markets? - Management indicated a cautious approach to entering new markets, focusing on securing sales in established markets first [39] Question: How does the company plan to manage costs moving forward? - The company is closely tracking costs and expects improved supply chain conditions to ease expenses [40] Question: What are the expectations for project development in Germany? - Management noted strong interest from major clients in Germany and the potential for significant project development due to high electricity prices [31][32]

Core Viewpoint - The company is expanding its presence in the renewable energy sector through significant contracts in Azerbaijan and domestic projects, driven by strong demand for energy engineering services [3]. Group 1: International Projects - On March 11, the company signed EPC contracts for two large photovoltaic projects in Azerbaijan, marking its first major undertaking in the country [2]. - The Bilasuvar project is noted as the largest photovoltaic project currently under construction in Azerbaijan, with a total capacity of 445MW [2]. - Azerbaijan aims to increase its renewable energy generation share from 20.3% in 2023 to 30% by 2030, indicating a growing market for renewable energy projects [3]. Group 2: Domestic Market Developments - The company is experiencing a surge in domestic orders due to a new electricity pricing policy that has sparked a rush for installations [3]. - Recent domestic contracts include a 75MW wind power project and multiple engineering projects for the State Grid, showcasing the company's ability to secure significant contracts [3]. Group 3: Strategic Initiatives - The company is actively participating in the construction of a national integrated computing power network, leveraging its technological advantages in green energy [4]. - Investments in data center projects are underway in several key locations, with the Gansu Qingyang data center set to begin operations in September 2024 [4]. - The company has signed a conditional share subscription agreement with Chengdi Xiangjiang to establish a "national team" for computing power centers [4].