Group 1 - The power industry is expected to achieve high-quality development as it enters a year of comprehensive marketization, driven by the "dual carbon" strategy and accelerated reforms in the electricity system [3][7][8] - The electricity market reform is set to fully unfold in the 15th Five-Year Plan, with significant policies introduced in the final year of the 14th Five-Year Plan that will have far-reaching impacts [3][11][12] - The core idea of the electricity reform is to reflect the different values of power sources (energy value, capacity value, adjustment value, and clean value) in market pricing, which has been historically dominated by energy value due to the predominance of coal power [8][10] Group 2 - The reform is expected to accelerate the construction of ultra-high voltage (UHV) and distribution networks, with UHV construction likely to speed up again as green electricity demand rises [3][16][24] - The investment in distribution networks has been low, with a continuous decline in the investment ratio, but this is expected to change as the demand for reliable power supply increases [28][34][41] - The introduction of capacity pricing for UHV and distribution networks is anticipated to stabilize project returns and promote the development of related projects [26][41] Group 3 - The surge in AI investments is projected to significantly increase electricity demand in the U.S., with OpenAI planning to deploy over 250GW of computing power by 2033, which could lead to a substantial electricity shortfall [45][49] - The U.S. electricity demand has been stagnant, but projections indicate that by 2030, peak load could approach 1000GW, driven largely by data centers [49][51] - The anticipated increase in electricity demand from AI investments presents a significant opportunity for companies involved in power generation and distribution [45][49] Group 4 - The profitability of wind turbine manufacturers is expected to improve, with domestic companies accelerating their international expansion as domestic bidding volumes remain high and prices trend upward [3][4] - Companies such as Goldwind Technology, Yunda Co., Mingyang Smart Energy, and Sany Heavy Industry are recommended for investment due to their competitive advantages in cost and market position [3][4]

本报记者 丰家卫 宝坻区把北京中关村推出的5大类20大项203个小项集成服务包的具体内容，全都移植到了科技城，发布 市区两级支持科技城高质量发展的22条政策措施，构建起金融超市、创新孵化等"十大服务平台"，首 创"拿地即开工、竣工即投产"和"654陪跑"等服务模式，营造"类中关村"产业生态。 在创新平台建设上，北大科技园、北京科技大学无人机智能系统创新中心等标志性载体在科技城壮大发 展，科技城还开通天津市首条智能网联汽车示范应用线路，被成功纳入国家高新技术产业园区拓展区， 入选首批"科创中国"创新基地。2025年，科技城标准级孵化器上报工信部，与国际院士科技创新中心共 建成果转化基地。 今年，京津中关村科技城将在项目引育上提质增效，全年计划引进实体企业120家，其中生产型企业20 家；推动中稀天马等7个重点项目年内开工，中天捷晟等13个在建项目提速推进，保障光环新网四期等8 个项目建成投产，让创新动能充分释放。 聚焦年轻人干事创业需求，宝坻区正在加快完善科技城餐饮、娱乐等生活配套。 记者了解到，目前，京津中关村科技城一期4.19平方公里已高标准建成，25公里市政道路通车，3座街 区公园和3公里城市滨河公园对外 ...

（来源：千龙网） 日前，北京昌平未来科学城举办绿色能源成果推介及项目路演大会。会上聚焦氢能、光伏、先进能源、 风电、新型储能等多个关键领域，集中发布了一批具备产业牵引力的领先科技成果，展现了未来科学城 作为首都能源科技创新高地的强劲动能。 发展新质生产力，绿色能源是关键引擎。本次推介会遴选了一批覆盖氢能、光伏、先进能源、风电、新 型储能等多领域的领先成果，展现了从实验室走向产业化的技术实力。其中，北京低碳清洁能源研究院 研发的催化隔膜复合式制氢技术，通过一体化结构设计显著降低离子传输阻力，大幅提升电化学活性面 积。该电解槽可在较低电压下实现高电流密度运行，制氢效率显著提升，能耗明显降低，为绿氢规模化 制备提供了新的技术路径。 中国华能集团清洁能源技术研究院介绍了火电厂场景下高性能轻质光伏组件的应用。该组件采用超薄玻 璃与无边框一体化设计，重量轻、强度高，具备优异的抗冲击与防风能力，支持多种安装方式，能有效 降低系统整体成本。现已在电厂场景成功示范，并入选集团首台（套）重大技术装备。 当前，大兆瓦机组已成为风电降本增效的关键路径，我国在该领域实现全球引领，海上与陆上机型持续 突破，叶片、齿轮箱等核心技术不断升级 ...

转自：前瞻产业研究院 以下数据及分析来自于前瞻产业研究院风电EPC研究小组发布的《中国风电EPC工程市场前瞻与投资战 略规划分析报告》 行业主要上市公司：中国能建(601868);中国电建(601669);永福股份(300712);三一重能(688349);国电南自 (600268)等 本文核心数据：风电EPC项目金额分布;风电EPC项目地区分布 全球风电新增装机量达到117GW 全球风能理事会(GWEC)在《2025全球风能报告》中指出，2024年全球风电新增并网装机容量达到 117GW，创下历史新高。其中，陆上风电新增109GW，海上风电新增8GW。 全球风电EPC市场规模接近600亿美元 随着全球对清洁和可再生能源的需求不断增长，导致风电项目数量增加，从而产生了对风电EPC服务的 需求。根据WISE GUY REPORTS公布的数据，2024年全球EPC市场规模达到579亿美元。 根据场地类型，全球风电EPC市场分为海上风电EPC和陆上风电EPC。2024年，由于安装成本低、技术 熟悉度高以及项目交付时间短等因素，陆上电项目受到强烈睐，提高了开发商和投资者的采用率，市场 占比约为59%，略高于海上风电。 ...

中国经济网北京2月5日讯 三一重能(688349.SH)近日披露2025年年度业绩预告公告。 公告称，经财务部门初步测算，预计2025年年度实现归属于母公司所有者的净利润68,000.00万元到 88,000.00万元，与上年同期（法定披露数据）相比，将减少93,198.30万元到113,198.30万元，同比减少 51.43%到62.47%；归属于母公司所有者的扣除非经常性损益的净利润41,500.00万元到61,500.00万元， 与上年同期（法定披露数据）相比，将减少97,983.10万元到117,983.10万元，同比减少61.44%到 73.98%。 三一重能首次公开发行股票的发行费用合计14,021.58万元（不包含增值税），其中，保荐及承销费 用11,739.30万元。 本次发行由保荐机构相关子公司跟投，跟投机构为中信证券投资有限公司，获配股数为376.5714万 股，占首次公开发行股票数量的比例为2.00%，获配金额1.12亿元，限售期为24个月。 (责任编辑：魏京婷) | | | | | | 早位: 下元 IP4: 人民IN | | | --- | --- | --- | --- | --- ...

华夏上证科创板50成份ETF（588000）成立日期2020年9月28日，最新规模760.22亿。今年以来收益 9.42%，同类排名1062/5562；近一年收益53.61%，同类排名1030/4285；成立以来收益7.55%。 华夏上证科创板50成份ETF（588000）基金经理为荣膺。 截至发稿，荣膺累计任职时间10年94天，现任基金资产总规模1432.79亿元，任职期间最佳基金回报 188.24%， 任职期间最差基金回报-7.58%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 2月4日，三一重能涨5.08%，截至发稿，报27.95元/股，成交1.26亿元，换手率0.38%，总市值342.78亿 元。 资料显示，三一重能股份有限公司位于北京市昌平区北清路三一产业园，成立日期2008年4月17日，上 市日期2022年6月22日，公司主营业务涉及风电机组的研发、制造与销售,风电场设计、建设、运营管理 以及光伏电站运营管理业务。 ...

"按照倒排工期，今年3月该项目相关设备进场，5月完成验收并实现当月投产。眼下最紧迫的是尽快将 施工临时电更换为正式电，确保不耽误设备进场调试，力争春节前投产。"负责对接三一重能风电产业 园项目的中科城投资发展有限公司总经理顾子城说。 这份紧迫感，源于该项目对京津冀新能源产业发展的重要性和推进的迫切需求。宝坻区力争以该项目为 牵引，通过完善产业生态闭环，有望为京津冀新能源产业协同注入全新的强劲动能。 京津中关村科技城管委会主任瞿重光说："党的二十届四中全会提出，优化区域经济布局，促进区域协 调发展。今年，科技城要紧抓三一重能、光环新网等龙头项目，带动配套企业聚集，龙头企业和重大项 目将对宝坻经济起到较强的引领带动作用。" 2025年以来，宝坻区坚持以推进京津冀协同发展为战略牵引，围绕建好用好京津中关村科技城这个全 区"一号工程"，携手中关村发展集团完成8亿元增资，同中关村软件园等6个园区签署战略合作协议，局 部区域纳入天开高教科创园"一核两翼多点"空间发展布局，成为京津冀区域首个既有中关村重资产投 入，又有天开园创新基因注入的载体平台，经营主体首次突破2000家，为畅通"京津研发、区域转化"实 践路径提供了新模 ...

新年伊始，在天津宝坻京津中关村科技城的工地上，随着最后一方混凝土稳稳浇筑到位，三一重能新能 源投资公司天津工厂的主体楼顶顺利封顶。 天津市宝坻区区长郭康伟表示，2026年，宝坻区将以京津中关村科技城为龙头牵引，紧紧扭住项目这个 关键的抓手，全力保障好飞毛腿、三一重能等天津市标志性大项目，推动项目早竣工、早见效、早出 力，计划全年引进实体项目逾120个，实现产业项目到位资金100亿元以上。 "按照倒排工期，今年3月该项目相关设备进场，5月完成验收并实现当月投产。眼下最紧迫的是尽快将 施工临时电更换为正式电，确保不耽误设备进场调试，力争春节前投产。"负责对接三一重能风电产业 园项目的中科城投资发展有限公司总经理顾子城说。 （文章来源：经济日报） 2025年以来，宝坻区坚持以推进京津冀协同发展为战略牵引，围绕建好用好京津中关村科技城这个全 区"一号工程"，携手中关村发展集团完成8亿元增资，同中关村软件园等6个园区签署战略合作协议，局 部区域纳入天开高教科创园"一核两翼多点"空间发展布局，成为京津冀区域首个既有中关村重资产投 入，又有天开园创新基因注入的载体平台，经营主体首次突破2000家，为畅通"京津研发、区域转化 ...

Investment Rating - The report maintains a "Buy" rating for SANY Renewable Energy [6][4] Core Views - The company is expected to report a net profit of 680 million to 880 million RMB for FY25, which is significantly below the consensus estimate of 1.726 billion RMB, representing a year-on-year decrease of 51.43% to 62.47% [1] - The primary reasons for the profit shortfall include the overestimation of the consumption pace of low-priced domestic wind orders from 2024, the impact of policy changes on profit margins from wind farm transfers, and uncertainties surrounding the commencement of offshore wind projects [1] - Looking ahead, the industry is anticipated to enter a growth phase in 2026, driven by recovering order prices in 2025, accelerated delivery of overseas projects, and increasing demand for domestic offshore wind and international projects [1] Summary by Sections Financial Forecasts - The company has revised its FY25 net profit forecast down by 60% to 737 million RMB and adjusted its FY26 and FY27 net profit forecasts down by 32% and 23% respectively, to 1.895 billion and 2.614 billion RMB [4] - The expected earnings per share (EPS) for FY25, FY26, and FY27 are projected to be 0.60, 1.55, and 2.13 RMB respectively [10] - The report indicates a significant recovery in net profit is expected in FY26, with a year-on-year increase of 157.07% [10] Market Conditions - The average bidding price for onshore wind projects in 2025 is projected to be between 1,933 and 2,248 RMB/kW, which is higher than the average price of 1,894 RMB/kW in 2024 [2] - Approximately 70% of the orders for 2025 are expected to be delivered in 2026, suggesting a potential turnaround in profitability for the company's wind turbine business [2] Macro Environment - The macroeconomic environment is favorable for overseas project deliveries, with the value of the company's overseas wind turbine orders exceeding 10 billion RMB and over 2 GW of new orders added in 2025 [3] - The ongoing global interest rate decline is expected to further support the investment in overseas projects, enhancing the delivery pace and profit realization [3]

Investment Rating - The report maintains a "Buy" rating for SANY Renewable Energy [6][4] Core Views - The company is expected to report a net profit of RMB 680 million to RMB 880 million for FY25, which is significantly below the consensus estimate of RMB 1.726 billion, representing a year-on-year decrease of 51.43% to 62.47% [1] - The primary reasons for the profit shortfall include the overestimation of the digestion pace of low-priced domestic wind orders from 2024, the impact of policy changes on profit margins from wind farm transfers, and uncertainties surrounding the commencement of offshore wind projects [1] - Looking ahead, the industry is anticipated to enter a growth cycle in 2026, driven by recovering order prices in 2025, accelerated delivery of overseas projects, and increasing demand for domestic offshore wind and overseas projects [1] Summary by Sections Performance Forecast - The company has adjusted its FY25 net profit forecast down by 60% to RMB 737 million, and the FY26 and FY27 net profit forecasts have been reduced by 32% and 23% to RMB 1.895 billion and RMB 2.614 billion, respectively [4][10] - The expected earnings per share (EPS) for FY25, FY26, and FY27 are RMB 0.60, RMB 1.55, and RMB 2.13, respectively [10] Market Environment - The report highlights that approximately 70% of the orders for 2025 are expected to be delivered in 2026, which is likely to lead to a turnaround in the company's wind turbine business due to industry price recovery and installation demand [2] - The average bidding price for onshore wind projects in 2025 is projected to be higher than in 2024, indicating a return to rational pricing [2] Overseas Projects - The macroeconomic environment is favorable for the delivery of overseas projects, with the company holding over RMB 10 billion in overseas wind turbine orders and having added more than 2 GW of new orders in FY25 [3] - The ongoing global interest rate decline is expected to further support the investment and delivery of overseas projects [3]