Core Viewpoint - The China Electricity Council indicates that the installed capacity of solar power in China is expected to surpass that of coal power for the first time by 2026, marking a significant milestone in the country's transition towards a cleaner power system [1] Group 1: Installed Capacity Projections - By the end of 2026, the combined installed capacity of wind and solar power in China is projected to reach half of the total installed capacity [1] - Despite ongoing peak construction of coal power projects, the proportion of coal power in the total installed capacity is expected to decline to around 31% [1] Group 2: Incremental Capacity Growth - The China Electricity Council forecasts that the total newly added power generation capacity in 2026 will exceed 400 million kilowatts, with new renewable energy generation capacity expected to surpass 300 million kilowatts [1] - The increase in effective generation capacity is anticipated to be roughly in line with the growth in maximum load [1]

中国电网投资在过去一年创下历史新高，并有望在未来几年持续稳步增长。 2月2日，中国电力企业联合会官方发布的《2025-2026年度全国电力供需形势分析预测报告》显示， 2025年，全国电网工程建设完成投资6395亿元，同比增长5.1%。 中国电力企业联合会统计与数智部主任侯文捷表示， "近年来，风光大基地建设推动特高压直流输电通道工程投资快速增长，2025年直流工程投 资同比增长25.7%；交流工程投资同比增长4.7%。" 据新华社报道，从电力供应端看，2026年太阳能发电装机规模将首次超过煤电装机规模，年底风电和太 阳能发电合计装机规模将达到总发电装机的一半。 近年来，我国在大数据、云计算、人工智能、5G网络、工业互联网等新兴基础设施建设领域取得了显 著进展，极大促进了相关行业用电量增长。以互联网数据服务用电量为例，2021年至2025年年均增长 35.9%。 特高压与配电网双轮驱动 而此次大规模投资的核心目标之一是中国特高压（UHV）电网的扩建。 作为"西电东送"战略的重要组成部分，该计划旨在通过特高压线路将西部丰富的能源输送至东部负荷中 心。预计到2030年，特高压电网将连接超过420吉瓦的电力容量。 ...

Group 1 - The solar sector is experiencing a significant rise, with the solar ETF (159857) seeing a 4.02% increase and a trading volume of 102 million yuan [1] - Key stocks in the solar ETF include JunDa Co., Foster, and others, with several stocks rising over 5% [1] - The solar ETF has seen a net inflow of 195 million yuan over the last ten trading days, with over 60 million shares subscribed today, bringing its total size to 2.177 billion yuan [1] Group 2 - The solar industry index (931151) tracks companies involved in various stages of solar production and operation, reflecting the overall performance of the solar industry in China [1] - The China Electricity Council predicts that by 2026, solar power capacity will surpass coal power for the first time, with new renewable energy installations expected to exceed 300 million kilowatts [1] - Zhejiang Securities notes that solar equipment companies are benefiting from multiple technological advancements, including PERC, TOPCon, HJT, and perovskite, creating structural opportunities despite potential risks from technological uncertainties and price fluctuations [2]

【环球网财经综合报道】据中国电力企业联合会预测，2026年中国太阳能发电装机规模将首次超过煤电，年底风电和太阳能发电 合计装机规模达到总发电装机的一半。全年新增发电装机有望超过4亿千瓦，其中新增新能源发电装机有望超过3亿千瓦。 时事通讯社发文称，过去几年，中国风力和太阳能发电设备容量以惊人的速度增长，成为中国最大的可再生能源市场。 山西证券发布报告提到，国家能源局此前公布1-11月份全国电力工业统计数据。其中，1-11月太阳能发电新增装机规模 274.89GW，11月单月太阳能发电新增装机22.02GW，环比10月12.6GW，增长75%。 ...

智通财经获悉，2月2日，中国电力企业联合会(简称：中电联)发布《2025—2026年度全国电力供需形势 分析预测报告》(简称：《报告》)，预计2026年全社会用电量同比增长5%—6%，并预计2026年太阳能 发电装机规模将首次超过煤电装机规模，年底风电（核心股）和太阳能发电合计装机规模将达到总发电 装机的一半。 相关概念股： 时代电气(03898)：公司深耕输配电领域近20年，先后服务乌东德、哈密-郑州、巴西美丽山等国内外特 高压直流和柔性直流输电工程超过40个，具有丰富的项目实践经验。目前公司在国内输配电领域的市场 份额在50%左右。公司拥有丰富的产品种类，能提供完整的解决方案，未来也将根据电网和能源应用领 域需求持续开发更大容量、高功率密度、高可靠性的产品。 华电国际电力股份(01071)：公司全资子公司华电龙口发电有限公司于近期圆满完成华电龙口四期 2×66 万千瓦热电联产项目第二台机组 168 小时满负荷试运行，正式投入商业运营。至此华电龙口四期项目两 台 66 万千瓦超超临界机组已全部建成投运，为区域能源安全保障和绿色低碳发展注入新动能。 中国电力(02380)：公司附属公司中电(普安)新能源有限责 ...

Group 1 - Chinese government emphasizes the implementation of policies to promote high-quality development and new growth points [2][39] - Local governments are urged to enhance service awareness and improve administrative efficiency to address business concerns [2][39] - The "14th Five-Year Plan" should focus on practical and systematic planning, avoiding overly ambitious projects [2][39] Group 2 - Recent incidents of Chinese enterprise personnel being detained in the US have raised concerns about the impact on business exchanges [3][40] - The Chinese government has expressed strong opposition to the US's actions and called for the cessation of such practices [3][40] Group 3 - The South Korean stock market experienced a significant drop, triggering temporary trading halts [5][42] - The KOSPI index fell by 5.26%, closing at 4949.67 points, after previously reaching a historic high [6][42][7] - The Indonesian stock market also faced turbulence, with the Jakarta Composite Index dropping by 4.88% [8][43] Group 4 - The domestic futures market saw a rare plunge, with 13 commodity futures hitting the limit down due to panic selling [9][44] - The decline was attributed to a combination of factors, including excessive leverage and market structure vulnerabilities [9][44] Group 5 - The National Investment Silver LOF fund announced a significant adjustment in its valuation method for silver futures contracts [10][45] - This adjustment aims to better reflect international market price fluctuations [10][45] Group 6 - The gaming industry reported record revenue per user, with several A-share companies expecting positive performance [17][52] - The humanoid robot industry is accelerating, with institutions actively researching companies with promising earnings [17][52] Group 7 - Shanghai Yizhong reported a net profit increase of 819.42% for 2025, driven by the inclusion of its core product in the national medical insurance directory [19][53] - The company plans to continue investing in R&D for innovative drugs [19][53] Group 8 - XGIMI Technology and Espressif Systems announced share buyback plans, with total amounts not less than 50 million yuan [20][54] - ST Kaiyuan may face delisting risk due to negative net assets projected for 2025 [21][55]

2月2日，中国电力企业联合会(简称：中电联)发布《2025—2026年度全国电力供需形势分析预测报告》 (简称：《报告》)，预计2026年全社会用电量同比增长5%—6%，并预计2026年太阳能发电装机规模将 首次超过煤电装机规模，年底风电和太阳能发电合计装机规模将达到总发电装机的一半。 相关概念股： 时代电气(03898)：公司深耕输配电领域近20年，先后服务乌东德、哈密-郑州、巴西美丽山等国内外特 高压直流和柔性直流输电工程超过40个，具有丰富的项目实践经验。目前公司在国内输配电领域的市场 份额在50%左右。公司拥有丰富的产品种类，能提供完整的解决方案，未来也将根据电网和能源应用领 域需求持续开发更大容量、高功率密度、高可靠性的产品。 华电国际（600027）电力股份(01071)：公司全资子公司华电龙口发电有限公司于近期圆满完成华电龙 口四期2×66万千瓦热电联产项目第二台机组168小时满负荷试运行，正式投入商业运营。至此华电龙口 四期项目两台66万千瓦超超临界机组已全部建成投运，为区域能源安全保障和绿色低碳发展注入新动 能。 中国电力(02380)：公司附属公司中电(普安)新能源有限责任公司的风光火储一 ...

智通财经APP获悉，2月2日，中国电力企业联合会(简称：中电联)发布《2025—2026年度全国电力供需 形势分析预测报告》(简称：《报告》)，预计2026年全社会用电量同比增长5%—6%，并预计2026年太 阳能发电装机规模将首次超过煤电装机规模，年底风电和太阳能发电合计装机规模将达到总发电装机的 一半。 去年12月31日，国家发展改革委、国家能源局联合印发《关于促进电网高质量发展的指导意见》，要求 到2030年，主干电网和配电网为重要基础、智能微电网为有益补充的新型电网平台初步建成，主配微网 形成界面清晰、功能完善、运行智能、互动高效的有机整体。到2035年，主干电网、配电网和智能微电 网发展充分协同，贯通各级电网的安全治理机制更加完善，电网设施全寿命周期智能化、数字化水平明 显提升，有效支撑新型电力系统安全稳定运行和各类并网主体健康发展，支撑实现国家自主贡献目标， 为基本实现社会主义现代化提供坚强电力保障。 时代电气(03898)：公司深耕输配电领域近20年，先后服务乌东德、哈密-郑州、巴西美丽山等国内外特 高压直流和柔性直流输电工程超过40个，具有丰富的项目实践经验。目前公司在国内输配电领域的市场 份 ...

报告预计，2026年全国电力供需总体平衡，局部地区高峰时段电力供需偏紧，供应不足部分可通过跨省 跨区余缺互济后基本消除。度夏期间，西南、华中、华东等区域部分省份电力供需平衡偏紧；度冬期 间，各地电力供需基本平衡。 本报北京2月2日电(记者廖睿灵)中国电力企业联合会2日举行新闻发布会，会上发布的《2025—2026年 度全国电力供需形势分析预测报告》预计，2026年太阳能发电装机规模将首次超过煤电装机规模。到 2026年底，风电和太阳能发电合计装机规模将达到总发电装机规模的一半。 报告认为，在"双碳"目标指引下，我国新能源继续保持较大投产规模，预计2026年全年新增发电装机有 望超过4亿千瓦，其中，新增新能源发电装机有望超过3亿千瓦；新增有效发电能力1亿千瓦左右，与最 大负荷增量基本持平。预计到2026年底，全国发电装机容量达到43亿千瓦左右，其中非化石能源发电装 机27亿千瓦，占总装机比重63%左右，煤电装机占总装机比重将降至31%左右。 ...

Core Insights - The China Electricity Council (CEC) predicts that by 2026, the national electricity consumption will reach between 10.9 trillion to 11 trillion kilowatt-hours, representing a year-on-year growth of 5% to 6% [1] - By the end of 2026, the installed capacity of solar power is expected to surpass that of coal power for the first time, with the combined installed capacity of wind and solar power reaching half of the total installed capacity [1] Group 1: Electricity Consumption - In 2025, China's total electricity consumption surpassed 10 trillion kilowatt-hours for the first time, reaching 10.4 trillion kilowatt-hours, a 5% year-on-year increase and approximately double that of ten years ago [2] - High-end manufacturing has emerged as a new growth point for electricity consumption, with the internet-related services and charging industries experiencing year-on-year growth rates exceeding 30% and 50%, respectively [2] Group 2: Supply Side Developments - By the end of 2025, the total installed power generation capacity in China is expected to reach 3.89 billion kilowatts, with non-fossil energy sources accounting for 61.7% of the total installed capacity [2] - A total of 46 ultra-high voltage projects have been completed, enhancing cross-provincial and cross-regional transmission capacity to over 370 million kilowatts [2] Group 3: Technological and Governance Innovations - The pace of technological innovation in the electricity sector is accelerating, with advancements in renewable energy, advanced nuclear power, large-capacity hydropower, and clean coal technologies being internationally leading [3] - The establishment of a national unified electricity market is progressing, with improvements in market systems for medium- and long-term trading, spot trading, auxiliary services, and green electricity certificates [3]