Core Insights - The exhibition "Building a Strong Nation Road - Achievements of China's Manufacturing during the 14th Five-Year Plan" showcases significant advancements in China's manufacturing sector, focusing on intelligent, green, and integrated manufacturing, as well as the modernization of industrial chains [1][3] Group 1: Key Technologies and Innovations - The AV140 axial flow compressor, developed by Shaangu Group, is the world's largest of its kind, featuring a rotor diameter of 1.4 meters, a total weight of 400 tons, a maximum airflow of 20,000 cubic meters per minute, and an efficiency exceeding 92% [1][2] - This compressor represents a major breakthrough in the localization of high-end equipment, breaking the long-standing monopoly of Western countries in the technology of large axial flow compressors used in aerospace and supersonic wind tunnels [2] - The compressor has been recognized as a "single champion product" in Chinese manufacturing and is widely used in critical industrial processes such as aerospace engine high-altitude simulation tests and energy storage [2] Group 2: Environmental Impact and Carbon Capture - The National Energy Group's 500,000 tons/year CCUS demonstration project is the largest of its kind in Asia, having captured 500,000 tons of CO2 annually with a capture rate exceeding 90% and a 100% storage and utilization rate [2] - The CCUS project has been operational for nearly three years and has been recognized in the top ten technological innovations by the National Energy Administration for 2023 [2] - The project exemplifies China's industrial achievements in carbon reduction and highlights the role of Shaangu's compressor as a key power source in the carbon capture system [2][3]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Views - Last week, carbon quota trading prices declined in the European, US, and South Korean carbon markets, while the trading volume in the South Korean carbon market increased significantly. The cumulative trading volume of carbon emission allowances in the national carbon market decreased, while the weekly trading volume in domestic pilot carbon markets increased substantially. Two important events occurred in the field of green development [1]. 3. Summary by Directory 3.1 International Carbon Trading Market Tracking - **European Carbon Quota Price and Volume**: EUA spot price dropped by 3.53% to 69.48 euros/ton, and the trading volume rose by 54.3% to 28.7 tons. EUA futures price decreased by 3.59% to 70.41 euros/ton, and the trading volume declined by 24.11% to 335.2 tons [5]. - **US Carbon Quota Price and Volume**: EUA futures price fell by 3.59% to 70.41 euros/ton, and the total trading volume decreased by 21.91% to 135.26 million tons. UKA futures price dropped by 0.83% to 51.26 pounds/ton [9]. - **South Korean Carbon Quota Price and Volume**: KAU24 spot price decreased by 0.11% to 8940 won/ton, and the trading volume soared by 132.64% to 118.81 tons [15]. 3.2 Domestic Carbon Market Tracking - **National Carbon Market Carbon Quota Volume and Average Transaction Price**: The cumulative trading volume of carbon emission allowances (CEA) was 212.23 tons, and the cumulative transaction amount was 145.6572 million yuan. Both the trading volume and transaction amount decreased by 37.57% and 39.44% respectively. The average daily transaction price of CEA was 68.42 yuan/ton, down 3.56% [19]. - **Weekly Average Transaction Price of Carbon Quotas in Domestic Pilot Provincial and Municipal Carbon Markets**: Except for Guangdong Province, the weekly average transaction price of carbon quotas in domestic pilot carbon markets showed an upward trend. Compared with the same period last month, except for Guangdong and Shenzhen, the prices in other regions also increased. Beijing had the largest increase of 21.17% [23]. - **Trading Volume and Transaction Amount of Carbon Quotas in Domestic Pilot Provincial and Municipal Carbon Markets**: Trading was mainly concentrated in the carbon markets of Guangdong, Hubei, Shenzhen, and Tianjin, accounting for 99.04% of the total weekly trading volume and 98.13% of the total weekly transaction amount. The total weekly trading volume in domestic pilot carbon markets was 29.44 tons, a significant increase of 357.3% [25]. 3.3 Tracking of Frontier Technologies in the Dual - Carbon Field - **Release of the Report "Prospects for Industrial Low - Carbon Technologies under China's Carbon Neutrality Goal"**: From 2025 - 2035, it will be a period of large - scale application of low - carbon process technologies in China's industrial sector. From 2035 - 2050, process - disruptive technologies will be in the application stage, and from 2050 - 2060, carbon removal technologies will be deeply applied. The report also put forward a series of policy suggestions [26]. - **CCUS Technology Becomes a Key Path for Deep Decarbonization, and Government - Enterprise Collaboration Builds a Green Industrial Ecosystem**: On May 30, the first domestic production base of Hopu Green Carbon (Shenzhen) Energy Technology Co., Ltd. broke ground. It will have an annual production capacity of 1.5 million tons of carbon dioxide capture equipment. Globally, the number of CCUS projects is growing rapidly, and China's CCUS technology research and engineering demonstrations have also made rapid progress [28].