The market by value in this report is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography. • Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods

锂电：先惠技术与清陶能源深化合作，共促固态电池发展。富临精工经营端符合预期，正极材料盈利有望持续提升。当升科技业绩环比高增。湖南裕能 Q2 环比高增。锂电 产业链 25 年有望出现供需拐点，行业进入 2-3 年上行周期。展望未来两年，业绩、估值均有提升可能性，属于中线布局较好板块。推荐【宁德时代】【亿纬锂能】；材料建议关注【湖南裕能】【万润新能】【尚太科技】【中科电气】；看好锂电新技术方向固态电池的主题行情，建议关注固态电池相关公司【厦钨新能】【宏工科技】【纳科若尔】【国轩高科】【星源材质】【容百科技】。

公用事业行业：AI带动数据中心景气向上，电力需求有多少

本周（9.1-9.5）上证综指下降 1.18%，创业板指上涨 2.35%。碳中和板块下降 1.42%，公用事业板块上涨 1.16%， 环保板块上涨 0.23%，煤炭板块上涨 0.66%。

The global virtual power plant market was sized near USD 1,852.9 million in 2023 in terms of value. A Virtual Power Plant (VPP) is an advanced energy management system that aggregates, optimizes, and controls distributed energy resources (DERs) such as solar panels, wind turbines, battery storage systems, and demand-response units. The Virtual Power Plant (VPP) market is witnessing unique trends, including the integration of blockchain-based peer-to-peer (P2P) energy trading, and AI-driven predictive analytics for dynamic load balancing. Additionally, vehicle-to-grid (V2G) technology is gaining traction, allowing electric vehicles to contribute to grid stability and energy trading. Leading players in the market include Schneider Electric, Tesla, ABB, Siemens, and others. Companies in the Virtual Power Plant (VPP) market are adopting strategic partnerships, AI-driven energy management, and decentralized grid solutions to enhance efficiency. They are also investing in demand response programs, blockchain-based energy trading, and advanced energy storage integration to optimize distributed energy resources and strengthen grid resilience in real-time. The Virtual Power Plant (VPP) market faces challenges such as real-time energy forecasting inaccuracies, and data ownership disputes among energy providers. These may be resolved by enhancing AI-driven predictive analytics for accurate demand-supply forecasting, implementing clear regulatory frameworks, and establishing transparent data-sharing agreements to ensure seamless operations

公用环保行业：火电盈利提升，环保现金流延续改善－专题研究