雅江水电站上中下游投资机会梳理与未来节奏判断 20250721 摘要 雅江水电站项目由秘密进行转为公开，国家总理亲自主持开工仪式，并 成立中国雅江集团，显示国家高度重视，投资金额高达 1.2 万亿，远超 市场预期，对相关公司股票产生显著影响。 上游企业如华新水泥、西藏天路，中游企业如东方电气，下游企业如海 螺水泥，均因雅江水电站项目受益。选股逻辑应关注产品性能价值量、 价格和竞争优势，以及全行业涨幅超过十倍以上股票的规律。 雅江水电站建设上游材料主要包括水泥、钢铁和管道，西藏天路、华新 水泥、八一钢铁、西宁特钢、龙泉股份和青龙管业等公司受益于此。 水电机组设备方面，东方电气与哈尔滨电气是龙头企业，将显著受益于 雅江水电站项目。哈尔滨电气港股今年以来涨幅已达三倍以上，东方电 气近期补涨明显。 施工装备领域，铁建重工与中铁工业是地下掘进设备龙头公司，受益于 隧洞引水开发方式。中岩大地、上海港湾等公司也参与相关地基岩土工 程。 Q&A 雅江水电站项目对市场的影响如何？ 雅江水电站项目对市场的影响超出了许多人的预期。首先，作为施工主体的中 国电建和中国能建封单量巨大，虽然涨停但封单量仍然很大。此外，高争民爆 和西藏天 ...

A股复盘 |一大堆段子来袭 / 2025.07.21 鉴于之前周末热议的题材周一一般都套人，加上晚上看到网上说有人24年就埋伏了！ 心想，不好，雅江水电站这不会要高开低走吧！ 哎，祖训这次失灵了，哈哈哈，今天带动了一整个基建产业链！ 股民们积极学习如何建设水电站，从爆破，到电网设备，从挖掘机等工程机械，到钢筋水泥等建材！ 刚刚又学了一个 盾构机 ， 雅鲁藏布江下游水电工程需在喜马拉雅山系打通45公里引水隧道，最大埋深超两千米，岩体破碎、涌水突泥频发，传统钻爆法风 险高、进度慢。采用直径15米级盾构机，月进尺120—150米，较钻爆法提升50%，并配备自动换刀、超前地质预报系统，可在高应力、大变形地层中连续 作业。 这强大的国运线都把债市干趴了！ 哈哈哈，彭博援引的业内人士分析，这提升了市场对更多刺激措施将推出的预期。 政治局会议马上来了，又开始炒预期了！ | 机构 | 货币政策 | 财政改策 | 产业政策 | 楼市 | 股市 *十五五*规划 要求研究中长期经济社会发展的战略性 | | | --- | --- | --- | --- | --- | --- | --- | | | 下半年可能再次降准降息,改策偏 ...

难得一见的乌龙指！ 港股市场东方电气今日刷屏，该股最高涨至119.9港元/股，较前一个交易日收盘价上涨超700%。分析人士认 为，这可能是一笔乌龙指，交易员原本或许想以19.9港元/股买入，却误输入为119.9港元/股。不过，这笔单子 并不大。 然而，若这只是一笔乌龙指，其意义却可能并不仅限于其本身，更多的在于市场的情绪。一般情况下，买盘如 此急促，显示了多头对于当下市场的认可。因为，在这一笔乌龙之前，东方电气的成交价格为19.32港元/股， 若交易员敲出一笔19.9港元/股的价格，亦比19.32港元/股高出3%。 那么，这个利好究竟会有多大？持续性又如何？ 暴涨700% 7月21日早上，东方电气突然异动，该股H股在开盘后不久，出现一笔以119.9港元/股的价格成交，较上一笔交 易19.32港元/股暴涨520%，较上一日收盘更是暴涨超700%。随后，该股股价快速回落，目前涨幅在60%上 下。 有分析指出，该笔交易可能是一个乌龙指，即交易员原本或许想以19.9港元/股买入，却误输入为119.9港元/ 股。然而，即使考虑到乌龙指，也显示出投资者在买入该股时"志在必得"的心态，因为在这一笔乌龙之前，东 方电气的成交 ...

港股东方电气（01072.HK）今日开盘后出现急剧拉升行情，最高价格达到119.9港元/股，较上一个 交易日收盘价上涨超700%。 记者从Wind行情数据看到，在上午9时30分22秒，东方电气出现一笔异常成交，以119.9港元/股的价格成 交400股。不过，该笔交易后，公司股价迅速回落。 | 09:30:18 | 19.040+ | 400 | | --- | --- | --- | | 2 | 19.040 | 7000 | | 3 | 19.020+ | 2200 | | 4 | 19.3004 | 5400 | | 5 | 19.3204 | 600 | | б | 19.340+ | 1200 | | 7 | 19.380+ | 1.08万 | | 8 | 19.340+ | 2800 | | 9 | 19.3804 | 1.36万 | | 10 | 19.380 | 1000 | | 11 | 19.380 | 5000 | | 12 | 19.380 | 26.96万 | | 13 | 19.360+ | 5.14万 | | 11 | 10.2204 | 0000 | | 09:30:22 | 1 ...

7月16日，参观者在链博会了解太阳能电动车。新华社记者 戴明轩 摄绿色，不仅是人们追求的生活底色，更是制造业迭代升级的方向。作为国内清洁能源装 备制造龙头，东方电气集团本次带来了一批全球领先的清洁能源产品，其中就包括应用在白鹤滩水电站的百万千瓦水电机组。 中国是全球最大的清洁能源市场和装备制造国。供应链绿色转型，离不开中国，也离不开国际合作。当前，东方电气正在和产业链上下游共同协作，助力推 动全球能源绿色转型。 走进第三届链博会清洁能源链展区，记者看到，绿色低碳，已经不是某个企业的口号，而是成为贯穿整条供应链的共同追求。一场从工业生产到生活方式 的"绿色"转型，正在全面展开。 7月16日在清洁能源链展区拍摄的中国海油产业集群数智沙盘。新华社记者 金立旺 摄在清洁能源链展区，江苏来能科技有限公司副总经理林恩向记者介绍了 即将在9月份上市的太阳能电动车产品。这款太阳能电动车最大每天阳光充电可实现20公里续航，满足大多数消费者绿色出行需求。 "未来我们要把这款车打造成'人人参与碳交易'的一个载体。"江苏来能科技有限公司CEO丁伯明介绍，"这款车也是一个移动的零碳电站。很多电还可以拿出 来用，而且这些电全部都是可再生 ...

Core Viewpoint - The press conference highlighted the achievements of regional coordinated development during the "14th Five-Year Plan" period, emphasizing clearer functional positioning, effective complementary advantages, tighter collaborative governance, and increased vitality across regions [1][2]. Group 1: Regional Development Characteristics - The "14th Five-Year Plan" has led to clearer functional positioning of regions, allowing local characteristics and comparative advantages to be fully released [1][2]. - The three major economic engines—Beijing-Tianjin-Hebei, Yangtze River Delta, and Guangdong-Hong Kong-Macao Greater Bay Area—are expected to account for over 40% of the national economy by 2024 [2]. - The Yangtze River Delta is positioned as a growth pole for high-quality development, with a focus on regional integration and leveraging strengths [2][5]. Group 2: Complementary Advantages and Collaboration - The Northeast region plays a strategic role in ensuring national food, energy, and industrial security, contributing 25.3% of the national grain output and 21% of crude oil production by 2024 [2]. - The Hainan Free Trade Port has seen significant growth in imports and exports, with annual increases of 31.3% and 32.3% respectively during the first four years of the "14th Five-Year Plan" [2]. - The concept of regional complementary advantages is being realized through collaboration between eastern and western regions, enhancing resource utilization and development outcomes [2][4]. Group 3: Infrastructure and Connectivity - The "West-East Power Transmission" project has a transmission capacity exceeding 300 million kilowatts, while the "East Data West Computing" initiative accounts for approximately 70% of the national computing power [3]. - The central region serves as a crucial connector for national transportation, with over 60% of major highways and railways passing through, fostering the development of strategic emerging industries [4]. - The Yangtze River Economic Belt is focusing on ecological protection and sustainable development, with significant improvements in water quality and biodiversity [4]. Group 4: Future Directions and Integration - The Yangtze River Delta is transitioning from "hard connectivity" to "soft collaboration," emphasizing deeper integration and breaking down administrative barriers to enhance economic efficiency [5]. - The Guangdong-Hong Kong-Macao Greater Bay Area is deepening regulatory alignment and facilitating efficient flow of capital and talent, with over 27,000 Macao residents employed in Hengqin [5].

Core Viewpoint - The recent removal of Yu Peigen's information from the management team page of Dongfang Electric Group indicates significant changes within the company, which is one of the largest energy equipment manufacturing enterprises globally [1]. Group 1: Company Overview - Dongfang Electric Group, established in 1958, is a leading global manufacturer of energy equipment, producing a wide range of products including wind turbines, solar power equipment, hydroelectric units, nuclear power units, thermal power units, control systems, environmental protection equipment, industrial chemical equipment, hydrogen energy and fuel cells, energy storage equipment, and new materials [1]. Group 2: Leadership Changes - Yu Peigen, born in 1962 and a graduate of Zhejiang University, has a rich background in the energy and nuclear power sectors, having held various key positions in organizations such as Qinshan Nuclear Power Plant and China National Nuclear Corporation [2]. - Recently, Shenyanfeng has been appointed as the chairman and party secretary of China National Nuclear Corporation, succeeding Yu Jianfeng, who has not appeared in public activities for several months [3].

Group 1 - The core viewpoint emphasizes the transformation of state-owned enterprises towards high-end, intelligent, and green development, accelerating the pace of high-quality growth [1] - China Dongfang Electric Corporation has established itself as a leader in energy equipment, producing significant machinery such as the first domestically developed 300,000 kW steam turbine and the world's largest 26 MW offshore wind turbine [2][5] - The company has developed a large-scale digital workshop for clean energy equipment manufacturing, featuring advanced automation and intelligent production lines, contributing to major projects like the Three Gorges and Xiluodu hydropower stations [2][4] Group 2 - Dongfang Electric's subsidiary, Dongfang Turbine, has implemented advanced technologies such as 5G and machine vision, achieving a 90% equipment utilization rate and a 99% first-pass yield in its production lines [5] - The company is actively pursuing green transformation in the energy sector, with Dongfang Boiler successfully testing the world's largest chemical looping carbon capture system, achieving over 95% carbon capture efficiency [6][8] - The innovative chemical looping combustion technology developed by Dongfang Boiler significantly reduces the cost of carbon capture, with potential future costs dropping to around 100 yuan per ton, aiming for further reductions [9]

Core Insights - The event held on May 9, 2025, in Chengdu focused on the collaboration and development of the new energy industry, aiming to deepen cooperation between Sichuan and eastern regions, and accelerate the establishment of a world-class new energy industry hub [1] Group 1: Wind Energy - Deyang is a major hub for the new energy industry in Sichuan, leading in wind power equipment with a scale ranking first in the central and western regions of China [1] - Over 10% of the national wind power equipment and over 70% of Sichuan's wind power equipment originate from Deyang, which has more than 20 supporting enterprises [1] - Deyang is recognized as the only national-level wind power technology source, providing a "Deyang solution" for the transformation and development of the wind power equipment industry [1] Group 2: Solar Energy - The photovoltaic industry in Deyang is rapidly developing, with several leading enterprises establishing operations in the city, including two global top three companies in niche sectors [2] - Yingjie Electric, a national manufacturing "single champion," holds over 80% of the global market share for single and multi-crystal silicon growth power supplies [2] - Deyang's photovoltaic industry chain includes various segments such as crucibles, rods, slices, silver powder, silver paste, equipment, and components [2] Group 3: Hydrogen Energy - Deyang has strengthened technical cooperation with over 10 universities and research institutes, becoming the technology source and the most complete pilot verification base for hydrogen energy in the province [2] - The city successfully developed China's first 100KW fuel cell distributed energy system and a megawatt-level combined heat, electricity, and hydrogen supply system [2] - Deyang also created the first megawatt-level photovoltaic power generation coupled PEM electrolysis hydrogen production system in the country [2] Group 4: Major Projects and Initiatives - Deyang has developed significant projects such as the "Hualong One" nuclear power unit and the world's largest chemical chain carbon capture equipment system, showcasing its strength and innovation in the new energy sector [3] - The event featured the release of the "Yangtze River Economic Belt New Energy Industry Collaborative Development Initiative," promoting key industrial parks and sharing successful experiences from leading enterprises [3] - Investment project signing ceremonies were held to inject new momentum into the further development of Sichuan's new energy industry [3]

Core Insights - The 2025 Cross-Strait Youth Employment and Entrepreneurship Development Exchange Conference and Industry Cooperation Promotion Conference are key events aimed at enhancing collaboration between Sichuan and Taiwan, focusing on new opportunities for integration and development [3][11] Industry Cooperation - Sichuan's economic scale has surpassed 6 trillion yuan, making it a prime destination for Taiwanese businesses looking to invest in mainland China's western region [4][10] - The region's diverse industrial base, including significant production in sectors like white liquor, solar energy, and electronics, provides a strong foundation for Taiwanese companies to explore [6][10] - Future cooperation is expected to focus on high-tech industries such as electronic information, artificial intelligence, and biopharmaceuticals, leveraging Taiwan's technological advantages and Sichuan's manufacturing capabilities [6][10] Youth Engagement - The conference highlighted the availability of 6,793 internship and employment opportunities for Taiwanese youth in Sichuan, showcasing the province's commitment to attracting young talent [7][8] - Various support measures have been implemented by Sichuan to facilitate Taiwanese youth's participation in cultural, educational, and entrepreneurial activities, enhancing the province's appeal [8][10] Strategic Vision - The collaboration between Taiwan and Sichuan is viewed as a "win-win" scenario, with both regions benefiting from their respective strengths in technology, manufacturing, and market access [10] - The theme of the conference, "Cultivating New Momentum for Development through Integration," emphasizes the importance of deepening ties and fostering mutual growth between the two regions [10][11]