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产业新趋势:AIDC绿电直供
华西证券·2025-04-26 14:16

Investment Rating - Industry Rating: Recommended [4] Core Insights - The report highlights a significant shift in electricity pricing driven by market reforms, emphasizing a dual-track mechanism for renewable energy pricing that encourages full market participation and price settlement [15][20][21] - The demand for green electricity is increasing, with the installed capacity of renewable energy surpassing that of thermal power for the first time, indicating a transition towards a low-carbon and flexible energy system [15][25] - The integration of digital technologies across the energy supply chain is accelerating, enhancing operational efficiency and enabling precise demand-driven pricing mechanisms [16][28] Summary by Sections 1. Electricity Pricing Breakthrough - Policy reforms are set to establish a market-driven pricing mechanism for renewable energy, aiming for comprehensive market entry and price settlement [15][20] - The supply side is witnessing a shift with renewable energy installations leading over thermal power, while the demand side shows robust growth in electricity consumption and market transactions [15][25] 2. AIDC Transition - The AIDC (Artificial Intelligence Data Center) is rapidly transitioning towards green computing, supported by policies that promote collaboration between renewable energy sources and computing hubs [33][34] - The issuance of green certificates has surged, with significant increases in cross-regional green electricity trading, driving decarbonization in high-energy industries [39][40] 3. Investment Recommendations - Beneficial stocks include companies involved in distribution networks and virtual power plants such as Dongfang Electronics and Langxin Group, as well as those focused on energy prediction and trading like Guoneng Rixin [7]