7根肋骨骨折， 他却说"帮扶不 能停"｜东西协 作故事④_南方 +_南方plus 忠自2024年2月 赴任以来，始终 以务实担当的作 风奋战在粤桂协 作最前沿，用实 际行动助力乡村 振兴和区域协调 发展。去年年底 出差途中，高文 忠遭遇严重交通 事故，导致7根 肋骨及胸椎骨 折，由于心系帮 扶工作，高文忠 在未完全康复的 情况下毅然提前 返岗，继续奔走 基层一线。 "有高文忠这样 的干部，百色协 作事业必能做 一周至少深入三 次基层，且从不 提前打招呼—— 这是广西德保县 挂职县委常委、 副县长高文忠一 贯的工作风 格，"坐在办公 室里发现不了问 题，提前打了招 呼，更看不到真 问题。"在他看 来，干部必须要 放下架子、扑下 身子，才能服务 好人民。 作为深圳市坪山 区选派至德保的 协作干部，高文 高文忠（左二）正与村民交流。 好。"在前不久 召开的东西部协 作培训会议上， 广东省农业农村 厅党组成员、副 厅长陈东作出了 这样的评价。 干在实处 政策资金精准落 地 铝项目年产值将 达20亿元 山清水秀，民风 淳朴，但经济与 产业发展滞后 ——这是高文忠 初到德保时的第 一印象，也是当 地长期面临的客 观现实困 ...

Summary of TBEA Conference Call Company Overview - **Company**: TBEA Co., Ltd. (特变电工) - **Industry**: Power Transmission and Transformation Equipment, New Energy, Coal Industry Key Points Business Outlook - The overall business environment for TBEA is expected to improve in the second half of the year, having completed the bottoming out of performance. The company aims to enhance competitiveness through product innovation and digital transformation, targeting a recovery in annual performance [2][9] - The ultra-high voltage (UHV) projects will fully initiate bidding in the second half, with significant contract signing expected to support revenue [2][3] New Energy Sector - The price of polysilicon has recovered to above reasonable levels, significantly improving the loss situation from the first half of the year. Both spot and futures prices have risen sharply [2][3] - Despite limited capacity utilization, profitability in the polysilicon sector is expected to improve significantly [3] - The company plans to accelerate the construction of solar power stations while cautiously selecting investment areas due to potential impacts from policy changes [4] International Orders - TBEA secured a significant order worth 16.4 billion RMB from Saudi Arabia, with a minimum execution amount of 11.5 billion RMB. This order is a major breakthrough in the international market, involving UHV transmission and transformation equipment, cables, etc. [2][5][10] - The project is expected to generate additional annual revenue of 1.5 to 2 billion RMB over the next seven years, consolidating domestic market share and expanding new application scenarios [10] Coal Sales and Market Dynamics - In Xinjiang, coal sales are primarily through self-consumption and external transportation, with expected sales exceeding 20 million tons for the year. Despite a decline in national coal prices leading to reduced profitability, stability is anticipated during the winter heating period [2][6][19] - The company has a long-term competitive advantage in coal mining due to favorable conditions and low costs, with plans to increase production capacity by 2030 [19] Export Performance - The export revenue from single-unit products reached 1.1 billion USD in the first half of the year, a year-on-year increase of 66%. With the signing of the Saudi contract, growth in the second half is expected to exceed 200% [3][11] - TBEA exports to over 90 countries, with the Middle East accounting for approximately 41% and other Asian countries for 25% of total exports [12] Future Development Plans - The company plans to establish a factory in Saudi Arabia to meet local demand, while maintaining a cautious approach to overseas capacity layout [13][25] - The overall product line includes transformers, switches, GIS, and converter valves, with a target to achieve over 100 billion RMB in sales across various electrical products [23] Market Trends and Challenges - The demand for power transmission and transformation equipment is expected to remain strong globally, particularly in the Middle East, where economic development is driving electricity demand [17][29] - The company faces challenges in the European market due to strong local competitors and regulatory barriers in the U.S. [24] Conclusion - TBEA is positioned to leverage its international contracts and domestic market strength to enhance its competitive edge in the power transmission and new energy sectors, while navigating challenges in coal sales and international market dynamics [2][9][19]

1. Report Industry Investment Rating - No information provided in the content 2. Core Viewpoints of the Report - For alumina, the rising prices of alumina, domestic and imported bauxite push up production costs. The decline in domestic alumina operating capacity cannot change the loose supply - demand expectation, suggesting limited upside for alumina prices. Investors are advised to wait and watch, focusing on the support level around 2800 - 3000 and the resistance level around 3300 - 3600 [2]. - For electrolytic aluminum, the increasing expectation of the Fed's interest rate cut in September, the expected shift from the traditional domestic consumption off - season, and the low domestic electrolytic aluminum social inventory may lead to a strong upward trend in electrolytic aluminum prices. Investors are recommended to go long on the main contract with a light position on dips, paying attention to the support level around 20200 - 20400 and the resistance level around 21000 - 21500. For LME aluminum, focus on the support level around 2300 - 2500 and the resistance level around 2700 - 2800 [2]. - For aluminum alloy, the increasing expectation of the Fed's interest rate cut in September and the tight supply of scrap aluminum leading to near - loss in recycled aluminum alloy production may cause aluminum alloy prices to be cautiously strong. Investors are advised to go long on the main contract with a light position on dips or short the spread between electrolytic aluminum and aluminum alloy on rallies, focusing on the support level around 19800 - 20000 and the resistance level around 20300 - 20500 [2]. 3. Summary by Related Catalogs Market Data - **Aluminum Futures in Shanghai**: On August 26, 2025, the closing price of the active contract was 20715 yuan/ton, down 55 yuan from the previous day. The trading volume was 103054 lots, a decrease of 43106 lots, and the open interest was 251409 lots, an increase of 3066 lots. The inventory was 56274 tons, a decrease of 396 tons. The basis of Shanghai aluminum was 65 yuan/ton, an increase of 55 yuan [2]. - **Alumina Futures**: The trading volume was 421870 lots, a decrease of 33265 lots, and the inventory was 84628 tons, an increase of 1496 tons. The price difference between the near - month and the first - continuous contract of alumina was - 1, an increase of 5 [2]. - **LME Aluminum**: The closing price of the 3 - month LME aluminum futures (electronic trading) was 9837, up 40.5 from the previous day. The price difference between the 3 - 15 - month contracts of LME aluminum futures was 0, an increase of 158.98. The ratio of Shanghai - LME aluminum prices was 7.8511, a decrease of 0.021 [2]. Industry News - An aluminum production capacity green and low - carbon transformation project is expected to have a construction period of about 10 months. After completion, the company's annual electrolytic aluminum output is expected to reach about 1.4 million tons [2]. - On August 22, Anhui Weiyu Intelligent Manufacturing Co., Ltd. signed a contract with the People's Government of Shiliang Town, Tianchang City, Chuzhou City for a "200,000 - ton annual aluminum - based new material and energy storage equipment project" with a total investment of 1.5 billion yuan [2]. - Henan Siweite Welding and Repair Co., Ltd. is building a project to reconstruct an annual output of 1200 tons of aluminum wire with a total investment of 6 million yuan, currently in the publicity stage of environmental impact report approval [2]. - The energy - saving report of the Wenshan Green and Low - Carbon Casting Project of Zhongyan (Yunnan) Green Advanced Aluminum - based Materials Co., Ltd. was approved. The project covers an area of about 104 mu with an annual output of 200,000 tons of deformed aluminum and aluminum alloy cast - rolled strips [2]. - Asia - Pacific Technology's wholly - owned subsidiary, Anxinda, plans to invest 210 million yuan in a "Automobile Lightweight Aluminum Material Production Line Transformation Project". After completion, it will have an annual production capacity of 80,000 tons of aluminum alloy melting and processing [2]. Market Analysis - In the alumina market, U.S. companies are actively buying scrap aluminum due to tariff exemptions, leading to fierce competition in overseas scrap aluminum procurement. Geopolitical conflicts and illegal smuggling in Southeast Asia may cause a continuous decline in scrap aluminum exports to China until the end of 2025 or early 2026. The domestic price difference of precision aluminum is positive and decreasing month - on - month, which may lead to a decrease (increase) in China's scrap aluminum production (import) in August [2]. - In the electrolytic aluminum market, the domestic electrolytic aluminum social inventory is still at a low level, and the price trend is expected to be strong [2]. - In the aluminum alloy market, the tight supply of scrap aluminum makes the production of recycled aluminum alloy close to a loss, and the price trend is expected to be cautiously strong [2].

Group 1 - The core viewpoint emphasizes the successful integration and development of the Jingkou Economic Development Zone and Jianbi Street, showcasing a vibrant transformation driven by strategic planning and execution [1][2] - The "one chess game" approach is highlighted, focusing on efficient resource allocation and collaborative development, with a strong emphasis on unified decision-making and task assignment [2] - The economic development in the area is accelerating, with significant increases in key indicators such as industrial output and fixed asset investment, driven by the growth of leading industries like aluminum-based new materials and grain and oil [3][4] Group 2 - The project construction is progressing rapidly, with major provincial and municipal projects achieving 100% commencement and investment ahead of schedule, enhancing regional energy security and logistics [4] - Innovation and talent cultivation are thriving, with several companies recognized as advanced intelligent factories, contributing to a robust support system for development [4][5] - The role of party leadership in driving high-quality development is emphasized, with a focus on integrating party organizations into industry chains and project execution to enhance operational efficiency [5]