近两个月汽车以旧换新申请量快速增长，在政策驱动下9月整体汽车市场同比降幅收窄，新能源增速回升达到42.4%，终端零售增速达到50.5%。进入Q4车企开启年末冲销量，我们预计销量将保持良好的增速。

10月电力及公用事业指数震荡调整。截至10月25日，本期中信电力及公用事业指数下跌3.21%，跑输沪深300（-1.53%）1.68 个百分点。

The global energy crisis has created unprecedented challenges in energy and commodity markets and supply-chain disruptions, leading to an extraordinary economic environment testing policymakers and the private sector. Despite the turmoil, the energy transition has not halted. It has accelerated. This acceleration is driven by the improving economic competitiveness of key clean energy technologies against fossil fuels, coupled with many governments seeking alternatives to volatile energy commodities.

A backup power system is a device that provides uninterruptible and instantaneous power to a building or a facility during grid failures or power outages. Residential backup power systems provide backup power to residential buildings. The backup power system is usually connected to the grid power and has electrical components that allow it to turn on automatically when it senses an outage.

Offshore oil and gas pipelines are used for long-distance transportation of crude oil and natural gas on offshore terrains.