618 lines
40 KiB
HTML
618 lines
40 KiB
HTML
<!DOCTYPE html>
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<html lang="zh-CN" data-theme="night">
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<head>
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<meta charset="UTF-8">
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<meta name="viewport" content="width=device-width, initial-scale=1.0">
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<title>深度行研报告：电力电网</title>
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<script src="https://cdn.tailwindcss.com"></script>
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<link href="https://cdn.jsdelivr.net/npm/daisyui@4.11.1/dist/full.min.css" rel="stylesheet" type="text/css" />
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<script defer src="https://cdn.jsdelivr.net/npm/alpinejs@3.x.x/dist/cdn.min.js"></script>
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<script src="https://cdn.jsdelivr.net/npm/echarts@5.5.0/dist/echarts.min.js"></script>
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<link rel="preconnect" href="https://fonts.googleapis.com">
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<link rel="preconnect" href="https://fonts.gstatic.com" crossorigin>
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<link href="https://fonts.googleapis.com/css2?family=Exo+2:wght@300;400;500;700&family=Inter:wght@300;400;500&display=swap" rel="stylesheet">
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<style>
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:root {
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--glow-color-1: #00f2ff;
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--glow-color-2: #8a2be2;
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--glow-color-3: #ff00c1;
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}
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body {
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font-family: 'Inter', sans-serif;
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background-color: #020413;
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color: #e0e0e0;
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overflow-x: hidden;
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}
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.font-exo {
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font-family: 'Exo 2', sans-serif;
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}
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.glassmorphism {
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background: rgba(10, 15, 40, 0.6);
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backdrop-filter: blur(20px);
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-webkit-backdrop-filter: blur(20px);
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border: 1px solid rgba(255, 255, 255, 0.1);
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border-radius: 1.5rem; /* 24px */
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}
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.bento-grid {
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display: grid;
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gap: 1.5rem;
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grid-template-columns: repeat(12, 1fr);
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}
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.grid-item {
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transition: all 0.3s ease;
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}
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.grid-item:hover {
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transform: translateY(-5px);
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box-shadow: 0 10px 30px rgba(0, 0, 0, 0.3);
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}
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.col-span-12 { grid-column: span 12; }
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.col-span-8 { grid-column: span 12; }
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.col-span-7 { grid-column: span 12; }
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.col-span-6 { grid-column: span 12; }
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.col-span-5 { grid-column: span 12; }
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.col-span-4 { grid-column: span 12; }
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@media (min-width: 1024px) {
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.col-span-8 { grid-column: span 8; }
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.col-span-7 { grid-column: span 7; }
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.col-span-6 { grid-column: span 6; }
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.col-span-5 { grid-column: span 5; }
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.col-span-4 { grid-column: span 4; }
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}
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.text-glow {
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text-shadow: 0 0 8px var(--glow-color-1), 0 0 16px var(--glow-color-1);
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}
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.border-glow {
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position: relative;
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overflow: hidden;
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}
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.border-glow::before {
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content: '';
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position: absolute;
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top: 0;
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left: 0;
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right: 0;
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bottom: 0;
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border-radius: inherit;
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border: 1px solid transparent;
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background: linear-gradient(120deg, var(--glow-color-1), var(--glow-color-3)) border-box;
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-webkit-mask: linear-gradient(#fff 0 0) padding-box, linear-gradient(#fff 0 0);
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-webkit-mask-composite: destination-out;
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mask-composite: exclude;
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opacity: 0.5;
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transition: opacity 0.3s ease;
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}
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.border-glow:hover::before {
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opacity: 1;
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}
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.background-animation {
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position: fixed;
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top: 0;
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left: 0;
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width: 100%;
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height: 100%;
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z-index: -1;
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overflow: hidden;
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}
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.glow-sphere {
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position: absolute;
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border-radius: 50%;
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filter: blur(150px);
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opacity: 0.2;
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}
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.sphere1 {
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width: 800px;
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height: 800px;
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background: var(--glow-color-2);
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top: -20%;
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left: -10%;
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animation: move1 25s infinite alternate ease-in-out;
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}
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.sphere2 {
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width: 700px;
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height: 700px;
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background: var(--glow-color-1);
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bottom: -30%;
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right: -15%;
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animation: move2 30s infinite alternate ease-in-out;
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}
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.sphere3 {
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width: 600px;
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height: 600px;
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background: var(--glow-color-3);
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top: 20%;
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right: 5%;
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animation: move3 20s infinite alternate ease-in-out;
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}
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@keyframes move1 {
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from { transform: translate(-50px, -50px) scale(1); }
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to { transform: translate(50px, 50px) scale(1.2); }
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}
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@keyframes move2 {
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from { transform: translate(50px, 50px) scale(1.2); }
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to { transform: translate(-50px, -50px) scale(1); }
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}
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@keyframes move3 {
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from { transform: translate(30px, -30px) scale(0.9); }
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to { transform: translate(-30px, 30px) scale(1.1); }
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}
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.tab {
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color: #9ca3af;
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}
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.tab-active {
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color: #fff;
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background-color: rgba(0, 242, 255, 0.1);
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border-bottom: 2px solid var(--glow-color-1);
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}
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.table {
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background-color: transparent;
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}
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.table thead th {
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background-color: rgba(255,255,255,0.05);
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color: var(--glow-color-1);
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}
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.table tbody tr {
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border-bottom: 1px solid rgba(255,255,255,0.1);
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transition: background-color 0.2s ease;
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}
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.table tbody tr:hover {
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background-color: rgba(0, 242, 255, 0.1);
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}
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.collapse-title {
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background-color: rgba(255,255,255,0.05);
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}
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.collapse-content {
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background-color: rgba(10, 15, 40, 0.8);
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}
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h1, h2, h3, h4 {
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font-family: 'Exo 2', sans-serif;
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font-weight: 700;
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letter-spacing: .02em;
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}
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</style>
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</head>
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<body class="min-h-screen">
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<div class="background-animation">
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<div class="glow-sphere sphere1"></div>
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<div class="glow-sphere sphere2"></div>
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<div class="glow-sphere sphere3"></div>
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</div>
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<div class="container mx-auto p-4 md:p-8">
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<!-- Header -->
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<header class="text-center mb-12 md:mb-20">
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<h1 class="text-4xl md:text-6xl font-bold text-white text-glow animate-pulse">电力电网</h1>
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<p class="text-lg md:text-xl text-gray-400 mt-4 font-light">全球能源体系重塑下的结构性机遇深度解析</p>
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</header>
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<!-- Insight Section -->
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<section id="insight" class="mb-12 md:mb-20">
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<h2 class="text-3xl md:text-4xl font-bold mb-8 text-white border-l-4 border-cyan-400 pl-4">概念洞察 (Insight)</h2>
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<div class="bento-grid">
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<!-- 核心观点摘要 -->
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<div class="grid-item col-span-12 glassmorphism border-glow p-6 md:p-8">
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<h3 class="text-2xl font-semibold mb-4 text-cyan-300">核心观点摘要</h3>
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<p class="text-gray-300 leading-relaxed">
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电力电网正处于一轮由“新能源革命（供给侧重塑）”与“AI+电气化（需求侧重塑）”双轮驱动的、全球性的、长周期的资本开支上行起点。其核心驱动力已从传统的政策性投资，转变为解决“供需错配”和“安全稳定”两大核心矛盾的刚性需求。未来潜力不仅在于硬件设备更新，更在于整个电网体系的数字化、智能化升级。
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</p>
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</div>
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<!-- 概念事件 -->
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<div class="grid-item col-span-7 glassmorphism border-glow p-6 md:p-8">
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<h3 class="text-2xl font-semibold mb-4 text-cyan-300">概念事件：国内政策与全球需求共振</h3>
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<div class="space-y-4 text-gray-300">
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<div>
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<h4 class="font-semibold text-white">宏观背景：</h4>
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<ul class="list-disc list-inside mt-2 space-y-1 pl-2">
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<li><strong class="text-fuchsia-400">能源转型压力(供给侧):</strong> 新能源装机激增，其波动性挑战电网稳定性。</li>
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<li><strong class="text-fuchsia-400">新兴需求爆发(需求侧):</strong> AI数据中心、新能源车等高负荷产业，导致全球用电量预测持续上修(美国FERC上调预测至<span class="font-bold text-cyan-400">4.7%</span>)。</li>
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<li><strong class="text-fuchsia-400">基础设施老化:</strong> 海外发达国家电网进入替换周期，约<span class="font-bold text-cyan-400">80%</span>运行超40年。</li>
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</ul>
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</div>
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<div>
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<h4 class="font-semibold text-white">核心催化剂：</h4>
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<ul class="list-disc list-inside mt-2 space-y-1 pl-2">
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<li><strong class="text-cyan-400">国内政策加速:</strong> 2024年5-6月，发改委、能源局发文推动“跨电网经营区常态化电力交易”，加速全国统一电力市场建设。</li>
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<li><strong class="text-cyan-400">海外矛盾激化:</strong> PJM电网备用容量竞价创纪录(高出<span class="font-bold">逾九倍</span>)，“AI的尽头是电力”叙事推向高潮。</li>
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<li><strong class="text-cyan-400">产业验证:</strong> 国网投资持续增长，海外变压器交期超<span class="font-bold">150周</span>，为中国设备出海提供历史性机遇。</li>
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</ul>
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</div>
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</div>
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</div>
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<!-- 核心驱动力 -->
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<div class="grid-item col-span-5 glassmorphism border-glow p-6 md:p-8">
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<h3 class="text-2xl font-semibold mb-4 text-cyan-300">核心驱动力</h3>
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<ul class="space-y-4 text-gray-300">
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<li class="flex items-start">
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<svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 text-cyan-400 mr-3 flex-shrink-0 mt-1" fill="none" viewBox="0 0 24 24" stroke="currentColor"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 12l2 2 4-4m6 2a9 9 0 11-18 0 9 9 0 0118 0z" /></svg>
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<div><strong class="text-white">政策强制驱动:</strong> 国内以“新型电力系统”和“全国统一电力市场”为纲领，强制推动电网升级与互联。</div>
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</li>
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<li class="flex items-start">
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<svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 text-cyan-400 mr-3 flex-shrink-0 mt-1" fill="none" viewBox="0 0 24 24" stroke="currentColor"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M13 10V3L4 14h7v7l9-11h-7z" /></svg>
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<div><strong class="text-white">需求刚性拉动:</strong> 海外AI数据中心带来巨大、高确定性的电力增量需求，形成“不升级就宕机”的局面。</div>
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</li>
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<li class="flex items-start">
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<svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 text-cyan-400 mr-3 flex-shrink-0 mt-1" fill="none" viewBox="0 0 24 24" stroke="currentColor"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9.663 17h4.673M12 3v1m6.364 1.636l-.707.707M21 12h-1M4 12H3m3.343-5.657l-.707-.707m2.828 9.9a5 5 0 117.072 0l-.548.547A3.374 3.374 0 0014 18.469V19a2 2 0 11-4 0v-.531c0-.895-.356-1.754-.988-2.386l-.548-.547z" /></svg>
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<div><strong class="text-white">技术迭代内生驱动:</strong> 柔性直流、构网型储能、数字孪生等新技术成为保障电网安全的必需品。</div>
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</li>
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</ul>
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</div>
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<!-- 预期差分析 -->
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<div class="grid-item col-span-12 glassmorphism border-glow p-6 md:p-8">
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<h3 class="text-2xl font-semibold mb-4 text-cyan-300">预期差分析</h3>
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<div class="grid grid-cols-1 md:grid-cols-3 gap-6 text-gray-300">
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<div class="p-4 bg-black/20 rounded-xl">
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<h4 class="font-semibold text-lg text-fuchsia-300 mb-2">投资结构预期差</h4>
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<p>市场仍高度关注特高压，但核心瓶颈和未来投资重点正从主网转向<strong class="text-white">配电网</strong>。路演指出2024年为“配网投资元年”，增速(<span class="font-bold text-cyan-400">8%</span>)远超主网(<span class="font-bold text-cyan-400">4%</span>)，市场认知不足。</p>
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</div>
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<div class="p-4 bg-black/20 rounded-xl">
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<h4 class="font-semibold text-lg text-fuchsia-300 mb-2">商业模式成熟度预期差</h4>
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<p>虚拟电厂、V2G等新业态蓝图宏大，但路演坦言其<strong class="text-white">商业模式尚不清晰</strong>，特别是储能收益模式和成本疏导机制仍是痛点。市场可能高估了其短期盈利能力。</p>
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</div>
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<div class="p-4 bg-black/20 rounded-xl">
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<h4 class="font-semibold text-lg text-fuchsia-300 mb-2">“出海”逻辑深度预期差</h4>
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<p>不仅是产能替代，更是<strong class="text-white">全球供应链重构下的系统性机会</strong>。海外厂商产能严重短缺（变压器交期>150周），为中国企业切入高端市场、获得更高毛利率提供了窗口期。</p>
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</div>
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</div>
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</div>
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<!-- 发展路径 -->
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<div class="grid-item col-span-8 glassmorphism border-glow p-6 md:p-8">
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<h3 class="text-2xl font-semibold mb-4 text-cyan-300">未来发展路径</h3>
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<ol class="relative border-l border-gray-700 space-y-8">
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<li class="ml-6">
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<span class="absolute flex items-center justify-center w-6 h-6 bg-blue-900 rounded-full -left-3 ring-8 ring-blue-900/50">
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<svg class="w-3 h-3 text-cyan-300" aria-hidden="true" xmlns="http://www.w3.org/2000/svg" fill="currentColor" viewBox="0 0 20 20"><path d="M20 4a2 2 0 0 0-2-2h-2V1a1 1 0 0 0-2 0v1h-3V1a1 1 0 0 0-2 0v1H6V1a1 1 0 0 0-2 0v1H2a2 2 0 0 0-2 2v2h20V4Z"/><path d="M0 18a2 2 0 0 0 2 2h16a2 2 0 0 0 2-2V8H0v10Zm5-8h10a1 1 0 0 1 0 2H5a1 1 0 0 1 0-2Z"/></svg>
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</span>
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<h4 class="flex items-center mb-1 text-lg font-semibold text-white">阶段一 (当前-2025): “硬件先行、补齐短板”</h4>
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<p class="text-base font-normal text-gray-400">投资重点是解决物理瓶颈。国内聚焦特高压外送和配网升级；海外是以变压器为代表的核心设备更新换代。</p>
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</li>
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<li class="ml-6">
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<span class="absolute flex items-center justify-center w-6 h-6 bg-blue-900 rounded-full -left-3 ring-8 ring-blue-900/50">
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<svg class="w-3 h-3 text-cyan-300" aria-hidden="true" xmlns="http://www.w3.org/2000/svg" fill="currentColor" viewBox="0 0 20 20"><path d="M20 4a2 2 0 0 0-2-2h-2V1a1 1 0 0 0-2 0v1h-3V1a1 1 0 0 0-2 0v1H6V1a1 1 0 0 0-2 0v1H2a2 2 0 0 0-2 2v2h20V4Z"/><path d="M0 18a2 2 0 0 0 2 2h16a2 2 0 0 0 2-2V8H0v10Zm5-8h10a1 1 0 0 1 0 2H5a1 1 0 0 1 0-2Z"/></svg>
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</span>
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<h4 class="mb-1 text-lg font-semibold text-white">阶段二 (2025-2027): “软硬兼备、数字转型”</h4>
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<p class="text-base font-normal text-gray-400">投资重点向数字化、智能化倾斜。配网自动化、数字孪生、AI调度等软件和信息化投入占比将显著提升。</p>
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</li>
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<li class="ml-6">
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<span class="absolute flex items-center justify-center w-6 h-6 bg-blue-900 rounded-full -left-3 ring-8 ring-blue-900/50">
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<svg class="w-3 h-3 text-cyan-300" aria-hidden="true" xmlns="http://www.w3.org/2000/svg" fill="currentColor" viewBox="0 0 20 20"><path d="M20 4a2 2 0 0 0-2-2h-2V1a1 1 0 0 0-2 0v1h-3V1a1 1 0 0 0-2 0v1H6V1a1 1 0 0 0-2 0v1H2a2 2 0 0 0-2 2v2h20V4Z"/><path d="M0 18a2 2 0 0 0 2 2h16a2 2 0 0 0 2-2V8H0v10Zm5-8h10a1 1 0 0 1 0 2H5a1 1 0 0 1 0-2Z"/></svg>
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</span>
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<h4 class="mb-1 text-lg font-semibold text-white">阶段三 (2027-2030): “生态融合、平台运营”</h4>
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<p class="text-base font-normal text-gray-400">电网演变为能源互联网平台。源网荷储高度协同，以数据驱动的综合能源服务成为主流。</p>
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</li>
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</ol>
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</div>
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<!-- 可视化 -->
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<div class="grid-item col-span-4 glassmorphism border-glow p-6 md:p-8 flex flex-col justify-center">
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<h3 class="text-2xl font-semibold mb-4 text-cyan-300">投资结构转向</h3>
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<div id="investmentChart" style="width: 100%; height: 300px;"></div>
|
||
</div>
|
||
|
||
<!-- 产业链图谱 -->
|
||
<div class="grid-item col-span-12 glassmorphism border-glow p-6 md:p-8">
|
||
<h3 class="text-2xl font-semibold mb-4 text-cyan-300">产业链图谱与核心公司</h3>
|
||
<div class="grid grid-cols-1 md:grid-cols-3 gap-4 text-gray-300">
|
||
<div class="space-y-2 p-4 rounded-lg bg-black/20">
|
||
<h4 class="text-lg font-bold text-fuchsia-400">上游：原材料与元器件</h4>
|
||
<p>取向硅钢、绝缘材料、电力电子器件(IGBT)、芯片等。</p>
|
||
<p class="text-sm text-gray-400">代表公司: 望变电气</p>
|
||
</div>
|
||
<div class="space-y-2 p-4 rounded-lg bg-black/20">
|
||
<h4 class="text-lg font-bold text-cyan-400">中游：电力设备制造</h4>
|
||
<p><strong class="text-white">输电网:</strong> 变压器、开关、电缆 (平高电气, 中国西电, 神马电力)</p>
|
||
<p><strong class="text-white">配电网:</strong> 开关柜、智能电表 (九洲集团, 海兴电力, 安科瑞)</p>
|
||
<p><strong class="text-white">电力信息化:</strong> 调度/交易/巡检系统 (国电南瑞, 东方电子)</p>
|
||
</div>
|
||
<div class="space-y-2 p-4 rounded-lg bg-black/20">
|
||
<h4 class="text-lg font-bold text-yellow-400">下游：运营与服务</h4>
|
||
<p>电网运营 (国家电网, 南方电网)、发电企业、综合能源服务商、用户。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 投资启示 -->
|
||
<div class="grid-item col-span-12 glassmorphism border-glow p-6 md:p-8">
|
||
<h3 class="text-2xl font-semibold mb-4 text-cyan-300">综合结论与投资启示</h3>
|
||
<p class="mb-6 text-gray-300">电力电网概念已进入由国内外刚性需求驱动的<strong class="text-white">基本面驱动阶段</strong>。“海外需求爆发”和“国内配网升级”是逻辑最硬、确定性最高的两条主线。虚拟电厂等新商业模式仍处于导入期。</p>
|
||
<h4 class="text-xl font-semibold mb-4 text-fuchsia-300">最具投资价值的细分环节：</h4>
|
||
<div class="grid grid-cols-1 md:grid-cols-3 gap-4">
|
||
<div class="p-4 border border-cyan-500/30 rounded-lg"><strong>1. 海外电力设备:</strong> 变压器、绝缘子、智能电表等中国具全球竞争优势且海外供需缺口巨大的品类。业绩兑现度最高。</div>
|
||
<div class="p-4 border border-cyan-500/30 rounded-lg"><strong>2. 配电网智能化与节能改造:</strong> 配网自动化终端、节能变压器、智能电表等。解决“最后一公里”问题的关键，需求刚性。</div>
|
||
<div class="p-4 border border-cyan-500/30 rounded-lg"><strong>3. 电力信息化与软件:</strong> 调度、交易、运维、安全软件系统。电网向“高科技平台”转型的核心，具备高毛利、高壁垒。</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- Supporting Evidence Section -->
|
||
<section id="evidence" class="mb-12 md:mb-20" x-data="{ tab: 'news' }">
|
||
<h2 class="text-3xl md:text-4xl font-bold mb-8 text-white border-l-4 border-cyan-400 pl-4">支撑信息 (Supporting Evidence)</h2>
|
||
|
||
<div role="tablist" class="tabs tabs-boxed bg-black/30 mb-8">
|
||
<a role="tab" class="tab text-lg" :class="{ 'tab-active': tab === 'news' }" @click.prevent="tab = 'news'">新闻数据</a>
|
||
<a role="tab" class="tab text-lg" :class="{ 'tab-active': tab === 'roadshows' }" @click.prevent="tab = 'roadshows'">路演纪要</a>
|
||
<a role="tab" class="tab text-lg" :class="{ 'tab-active': tab === 'reports' }" @click.prevent="tab = 'reports'">研究报告</a>
|
||
</div>
|
||
|
||
<div class="space-y-4">
|
||
<!-- News -->
|
||
<div x-show="tab === 'news'">
|
||
<div class="collapse collapse-plus glassmorphism">
|
||
<input type="radio" name="news-accordion" checked="checked" />
|
||
<div class="collapse-title text-xl font-medium text-cyan-300">中国电力电网</div>
|
||
<div class="collapse-content space-y-3 p-4">
|
||
<p><strong>国家政策:</strong> 国家发改委、能源局原则同意《跨电网经营区常态化电力交易机制方案》，明确今年实现常态化开市，初步建成全国统一电力市场体系。同时印发《电网安全风险管控办法》，强调迎峰度夏、度冬保供。</p>
|
||
<p><strong>电网建设:</strong> 国家电网明确加快各级电网建设，强化跨区跨省资源配置。1-9月固投超4200亿元，同比增长8.1%。地方如成都亦出台政策，打造现代一流电网。</p>
|
||
<p><strong>电力负荷:</strong> 受持续高温影响，天津、江苏、安徽、辽宁等多地电网负荷创历史新高。</p>
|
||
<p><strong>技术应用:</strong> 重庆首次开展大规模车网互动(V2G)应用；机器人已在电网电力巡检领域应用。</p>
|
||
</div>
|
||
</div>
|
||
<div class="collapse collapse-plus glassmorphism">
|
||
<input type="radio" name="news-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-cyan-300">国际电力电网</div>
|
||
<div class="collapse-content space-y-3 p-4">
|
||
<p><strong>美国:</strong> 正面临电力危机，AI数据中心用电需求激增与老化脆弱电网形成冲突。最大电网运营商PJM备用容量竞价创纪录。得州电网要求科技巨头为电网升级出资。</p>
|
||
<p><strong>欧洲:</strong> 欧盟着力解决电网瓶颈问题以降低电力成本。波罗的海三国电网将与欧洲大陆电网同步。</p>
|
||
<p><strong>全球趋势:</strong> 中金公司称全球电力大周期开启。IEA预测2035年后全球电网年均投资有望超万亿美元。海外电力设备厂商产能严重短缺，美国变压器交期已超过150周。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- Roadshows -->
|
||
<div x-show="tab === 'roadshows'">
|
||
<div class="collapse collapse-plus glassmorphism">
|
||
<input type="radio" name="roadshow-accordion" checked="checked" />
|
||
<div class="collapse-title text-xl font-medium text-cyan-300">电改与市场化</div>
|
||
<div class="collapse-content p-4">
|
||
<ul class="list-disc list-inside space-y-2">
|
||
<li><strong>核心矛盾：</strong>新能源消纳能力不足与高质量发展需求。2024年新能源利用率已从98%降至96%。</li>
|
||
<li><strong>改革方向：</strong>2027年前实现60%新能源入市，2030年全面入市；完善电价机制（取消煤电浮动限制、强化分时电价）；深化交易品种（2025年现货市场扩展至第二批6省市）。</li>
|
||
<li><strong>商业模式痛点：</strong>储能、虚拟电厂等灵活性资源的商业模式仍不清晰，电网侧储能收益模式依赖未落地的容量电价。</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
<div class="collapse collapse-plus glassmorphism">
|
||
<input type="radio" name="roadshow-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-cyan-300">电网建设投资</div>
|
||
<div class="collapse-content p-4">
|
||
<ul class="list-disc list-inside space-y-2">
|
||
<li><strong>投资结构转变：</strong><strong>2024年为配网投资元年，增速达8%，远超主网的4%</strong>。投资重心从主网向配网侧、用电侧转移，性价比更高。</li>
|
||
<li><strong>主网投资：</strong>特高压建设，“十五五”期间可能增至20条/年；柔性直流技术替代加速。</li>
|
||
<li><strong>配网投资重点：</strong>设备升级（节能变压器、智能电表）、网架重构、智能化（感知层建设，实现“可观、可测、可控、可调”）。</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
<div class="collapse collapse-plus glassmorphism">
|
||
<input type="radio" name="roadshow-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-cyan-300">海外市场机遇</div>
|
||
<div class="collapse-content p-4">
|
||
<ul class="list-disc list-inside space-y-2">
|
||
<li><strong>欧美市场：</strong>电网老化，需升级以适配新能源及AI、机器人等新兴需求。全球电网投资2023年达3100亿美元。</li>
|
||
<li><strong>亚非拉市场：</strong>电气化率低，需大规模电网建设，智能电表及配网设备需求爆发。</li>
|
||
<li><strong>出海逻辑：</strong>全球电力设备2030年投资强度将达1000亿美元。国内企业出海逻辑持续强化，海外变压器单价稳定，毛利率较高（海兴电力配网产品海外毛利超40%）。</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- Reports -->
|
||
<div x-show="tab === 'reports'">
|
||
<div class="collapse collapse-plus glassmorphism">
|
||
<input type="radio" name="report-accordion" checked="checked" />
|
||
<div class="collapse-title text-xl font-medium text-cyan-300">配电网技术与挑战</div>
|
||
<div class="collapse-content p-4">
|
||
<p><strong>核心挑战：</strong>分布式能源（光伏、风电）大量接入，造成配电网运行管控难度大、能源消纳效率低；电动汽车充电桩等可变负荷冲击大；配电网设施设备标准化程度低，市场化调节机制手段少。</p>
|
||
<p class="mt-2"><strong>新技术方向：</strong>可靠性提升（不停电作业、分布式储能）、低碳化（光储充一体化、V2G）、智能化（拓扑识别、数字孪生）。</p>
|
||
</div>
|
||
</div>
|
||
<div class="collapse collapse-plus glassmorphism">
|
||
<input type="radio" name="report-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-cyan-300">数智化坚强电网</div>
|
||
<div class="collapse-content p-4">
|
||
<p><strong>国家战略：</strong>党的二十大报告提出“加快规划建设新型能源体系，加快构建新型电力系统”。国家电网以“数智化坚强电网”为战略，发布2024年行动方案，核心任务包括深化"e基建2.0"、深化特高压建设模块运用、提升数据贯通效率等。</p>
|
||
</div>
|
||
</div>
|
||
<div class="collapse collapse-plus glassmorphism">
|
||
<input type="radio" name="report-accordion" />
|
||
<div class="collapse-title text-xl font-medium text-cyan-300">储能构网技术</div>
|
||
<div class="collapse-content p-4">
|
||
<p><strong>技术核心：</strong>通过控制技术使逆变器模拟同步发电机特性，为电网提供电压源特性和虚拟惯量支撑，提升新能源电站暂态支撑能力及系统稳定性。</p>
|
||
<p class="mt-2"><strong>政策规范：</strong>国家及地方层面均支持构网型储能技术研发与示范，新疆要求部分地区构网型储能比例不低于20%。相关国家标准和行业标准正在制定中。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
|
||
<!-- Stock Data Section -->
|
||
<section id="stocks">
|
||
<h2 class="text-3xl md:text-4xl font-bold mb-8 text-white border-l-4 border-cyan-400 pl-4">相关标的 (Stock Data)</h2>
|
||
|
||
<!-- Table 1: 涨停及人气个股 -->
|
||
<div class="glassmorphism p-6 md:p-8 mb-8 overflow-x-auto">
|
||
<h3 class="text-2xl font-semibold mb-4 text-cyan-300">涨停及人气个股</h3>
|
||
<table class="table w-full">
|
||
<thead>
|
||
<tr>
|
||
<th>股票名称</th>
|
||
<th>股票代码</th>
|
||
<th>核心逻辑</th>
|
||
<th>标签</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr><td>积成电子</td><td><a href="https://valuefrontier.cn/company?scode=002339" target="_blank" class="link link-hover text-cyan-400">002339</a></td><td>【2板】自主研发工业级电磁暂态仿真产品，可对含新能源、特高压的复杂大电网进行仿真分析。</td><td><div class="badge badge-error">涨停个股</div></td></tr>
|
||
<tr><td>金盘科技</td><td><a href="https://valuefrontier.cn/company?scode=688676" target="_blank" class="link link-hover text-cyan-400">688676</a></td><td>专注于变压器、开关柜、储能等产品，直接受益于国内外电网投资及储能需求。</td><td><div class="badge badge-error">涨停个股</div></td></tr>
|
||
<tr><td>九洲集团</td><td><a href="https://valuefrontier.cn/company?scode=300040" target="_blank" class="link link-hover text-cyan-400">300040</a></td><td>智能配电网综合解决方案供应商，聚焦0.4kV～72.5kV配、用电系统。</td><td><div class="badge badge-error">涨停个股</div></td></tr>
|
||
<tr><td>泰永长征</td><td><a href="https://valuefrontier.cn/company?scode=002927" target="_blank" class="link link-hover text-cyan-400">002927</a></td><td>提供智能变配充电整体解决方案，智慧物联变压器、断路器可应用于智能电网。</td><td><div class="badge badge-error">涨停个股</div></td></tr>
|
||
<tr><td>望变电气</td><td><a href="https://valuefrontier.cn/company?scode=603191" target="_blank" class="link link-hover text-cyan-400">603191</a></td><td>全国唯一打通上游关键原材料（取向硅钢）的输配电及控制设备企业。</td><td><div class="badge badge-info">人气个股</div></td></tr>
|
||
<tr><td>科润智控</td><td><a href="https://valuefrontier.cn/company?scode=834062" target="_blank" class="link link-hover text-cyan-400">834062</a></td><td>变压器公司，出海增速快，23年海外订单7000万，24年预计翻倍以上。</td><td><div class="badge badge-warning">北交所</div></td></tr>
|
||
<!-- Add other stocks from this category here -->
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
|
||
<!-- Table 2: 主营业务梳理 -->
|
||
<div class="glassmorphism p-6 md:p-8 mb-8 overflow-x-auto">
|
||
<h3 class="text-2xl font-semibold mb-4 text-cyan-300">核心业务梳理</h3>
|
||
<table class="table w-full">
|
||
<thead>
|
||
<tr>
|
||
<th>股票名称</th>
|
||
<th>股票代码</th>
|
||
<th>核心产品/业务</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr><td>神马电力</td><td><a href="https://valuefrontier.cn/company?scode=603530" target="_blank" class="link link-hover text-cyan-400">603530</a></td><td>全复合新型电力装备产品（绝缘子等），美国市场核心供应商。</td></tr>
|
||
<tr><td>海兴电力</td><td><a href="https://valuefrontier.cn/company?scode=603556" target="_blank" class="link link-hover text-cyan-400">603556</a></td><td>智能用电产品（智能电表）、智能配电产品，海外市场拓展迅速。</td></tr>
|
||
<tr><td>华通线缆</td><td><a href="https://valuefrontier.cn/company?scode=605196" target="_blank" class="link link-hover text-cyan-400">605196</a></td><td>低压电力电缆、控制电缆、中压电缆。</td></tr>
|
||
<tr><td>明阳电气</td><td><a href="https://valuefrontier.cn/company?scode=301291" target="_blank" class="link link-hover text-cyan-400">301291</a></td><td>输配电及控制设备厂商，主营箱式变电站、成套开关设备、变压器。</td></tr>
|
||
<!-- Add other stocks from this category here -->
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
|
||
<!-- Table 3: 涨幅分析 -->
|
||
<div class="glassmorphism p-6 md:p-8 overflow-x-auto">
|
||
<h3 class="text-2xl font-semibold mb-4 text-cyan-300">涨幅归因分析</h3>
|
||
<table class="table w-full">
|
||
<thead>
|
||
<tr>
|
||
<th>股票名称</th>
|
||
<th>股票代码</th>
|
||
<th>日期</th>
|
||
<th>涨幅</th>
|
||
<th>核心上涨逻辑</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr>
|
||
<td>N山大电力</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=301609" target="_blank" class="link link-hover text-cyan-400">301609</a></td>
|
||
<td>2025-07-23</td>
|
||
<td><span class="font-bold text-red-400">+356.00%</span></td>
|
||
<td>新股上市效应叠加全国统一电力市场建设加速的行业政策利好。公司在电网智能监测领域地位领先，直接受益。</td>
|
||
</tr>
|
||
<tr>
|
||
<td>泓淋电力</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=301439" target="_blank" class="link link-hover text-cyan-400">301439</a></td>
|
||
<td>2025-06-27</td>
|
||
<td><span class="font-bold text-red-400">+11.62%</span></td>
|
||
<td>电网设备板块整体走强，叠加公司通过子公司布局高速铜缆业务，切入AI数据中心产业链热点。</td>
|
||
</tr>
|
||
<tr>
|
||
<td>煜邦电力</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=688597" target="_blank" class="link link-hover text-cyan-400">688597</a></td>
|
||
<td>2025-11-05</td>
|
||
<td><span class="font-bold text-red-400">+9.70%</span></td>
|
||
<td>全球电力危机与AI驱动的能源革命宏观叙事下，板块共振性行情中的补涨标的，业务与电网智能化需求吻合。</td>
|
||
</tr>
|
||
<tr>
|
||
<td>上海电力</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=600021" target="_blank" class="link link-hover text-cyan-400">600021</a></td>
|
||
<td>2025-07-21</td>
|
||
<td><span class="font-bold text-red-400">+5.16%</span></td>
|
||
<td>行业政策利好（统一电力市场），叠加公司海外市场（尤其日本）布局成效显著，估值优势明显。</td>
|
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</tr>
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<footer class="text-center text-gray-500 text-sm mt-20">
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<p>由 北京价值前沿科技有限公司 AI投研agent：“价小前投研” 进行投研呈现</p>
|
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<p>本报告为AI合成数据，不构成任何投资建议，投资需谨慎。</p>
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