Financial Sharing What is the meaning behind the most stringent electricity curtailment order? Electricity prices did not rise, but coal prices soared. Due to China's restrictions on Australian coal imports, China imported only 780,000 tons of coal from Australia in the first half of this year, a year-on-year decrease of 98.6%, basically not importing coal from Australia. After banning the import of Australian coal, China increased its imports of coal from the United States, Canada, Russia, Colombia, and the Philippines. However, the cost of importing these coals is higher than that of Australian coal. Due to its poor quality and deep burial, domestic coal has a much higher mining cost than Australian open-pit coal. In the past, one of the key reasons why China imported a large amount of coal from Australia was that Australian coal was cheaper than domestic coal. And 70% of China's electricity comes from coal power. When the cost of coal is high, the cost of electricity rises rapidly. However, if electricity prices cannot rise, coal power plants can only generate power at a loss. On the other hand, some companies have curtailed power, some are due to insufficient power supply and relatively high power demand, and some are related to the "dual control" indicator. From the perspective of the macro environment, the country's carbon neutrality and carbon peaking policies are regulating energy-consuming enterprises to promote market transformation. It can be said that the strict "dual control" policy is an inevitable result of market development. Some power and production restrictions introduced by local governments are an integral part of the local governments' market regulation according to the situation, and they are a policy-oriented behavior. Because carbon emissions are limited, our total energy use is limited, so when we reach a certain point, we must make some choices. Residential electricity consumption must be guaranteed, and residential electricity consumption only accounts for 13.6% of the total electricity consumption, and the tertiary industry electricity consumption is only 13.4%, so that only industrial electricity consumption accounts for 71.1% of the electricity consumption. Therefore, it is necessary to limit the power supply to the manufacturing industry. So the problem is that China is a big manufacturing country, and the whole country is revolving around manufacturing. In the manufacturing industry, not only China's GDP, but also the jobs of countless people. For a so-called carbon peak, just stopped like this? Isn't this caught in the trap of Europeans and Americans? Things, of course, are not so simple. Every policy in China is formulated after repeated scrutiny by the elites, and only do things that are beneficial to China. We did agree on a carbon peak with Europe and the United States, but that was because the terms were beneficial to us, at least for mutual benefit and win-win. We can never unilaterally wear ourselves to me...

Recently, many underground sources issued policy documents on dual control of energy consumption, and various industries with high energy consumption and high pollution have stopped production and work. News of production restrictions and upgrades in Jiangsu, Yunnan, Zhejiang and other places has even blown up the circle of friends.  As soon as the A-share market opened the day before yesterday, the light industry manufacturing, energy and power sectors went crazy. The direct reason for the surge in these two sectors is the curtailment of electricity and production. Jiangsu and Zhejiang provinces are China's printing and dyeing centers, and Shaoxing alone accounts for half of Zhejiang's printing and dyeing capacity. Once the Shaoxing Printing and Dyeing Plant was shut down, one-third of the country's printing and dyeing capacity went out of business. When the supply-side capacity is limited, the price of raw materials rises sharply. The Changshu Printing and Dyeing Chamber of Commerce in Jiangsu Province issued the "Dyeing Fee Adjustment Notice", requiring member companies to uniformly increase the printing and dyeing fee by no less than 1,000 yuan/ton from October 1st. The Sweater Dyeing and Finishing Chamber of Commerce in Tongxiang City of Zhejiang Province issued the "Letter on Adjusting the Dyeing and Processing Fees of Hank Yarns", requesting that the printing and dyeing processing fees be raised by 500 yuan/ton. Seeing these "Price Increase Notification Letters", the first thing I remembered was the chemical industry in the second half of last year. Under strict environmental protection policies, a large number of chemical companies with high energy consumption and high pollution were ordered to suspend production and relocation. Then, the prices of chemical raw materials soared all the way and could not stop at all. Nowadays, the state has put more emphasis on dual energy consumption control policies, resolutely controlling high-energy-consumption and high-emission items. Many regions with excessive energy consumption have begun to notify local enterprises to control energy consumption by means of power curtailment and production suspension. To a certain extent This has the same effect as the supply-side reform of chemical companies. The reason is that the background is that the "carbon neutral" strategy has been formally incorporated into the implementation stage. Industries such as high energy consumption and high pollution chemicals, light industrial manufacturing, and coal power energy are all key industries that need to be vigorously adjusted by policies. Those who should be relocated must be relocated; those who should be upgraded must be upgraded; those that should be shut down must be shut down. According to incomplete statistics from China Business News, as of September 23, there were more than 10 A-share listed companies that had suspended or restricted production due to energy consumption dual control and power restriction...

Yuanchen Technology (688659.SH) in the first half of the year, deducted non-net profit increased by 418.09% year-on-year, vigorously explored the non-electricity market Yuanchen Technology (688659.SH) disclosed the 2021 semi-annual report. During the reporting period, the company achieved operating income of 227 million yuan, a year-on-year increase of 26.91%; net profit attributable to shareholders of listed companies was 28.862 million yuan, a year-on-year increase of 293.78%; attribution The net profit from shareholders of the listed company after deducting non-recurring gains and losses was RMB 25,061,100, a year-on-year increase of 418.09%; basic earnings per share were RMB 0.21. During the reporting period, the company firmly grasped the national environmental governance policy and complied with the emission control requirements. While continuously consolidating its position in the power market industry, the company increased its market investment in non-electric industries such as iron and steel sintering, lime kilns, refractory kilns, and waste incineration. Strategic cooperation with well-known companies such as Shandong Guoshun Group, Everbright Environment, Shanghai Kangheng Environment, Huaxing Dongfang, Conch Cement, etc., to seize the high-temperature high-end filter bag market. The above-mentioned industries, as the company's non-electricity market strategy development direction of high value-added products, combined with the company's pure PTTF production line capacity expansion, are the main directions for expanding market scale and increasing market share. At the same time, the company actively lays out the upstream and downstream industrial chain. Derived from the concept of catalyst life-cycle management in the testing center to third-party testing services, it established a wholly-owned subsidiary, Cornfield, to rapidly expand the testing field within two years, and at the same time obtain the double C certification qualification (CMA&CNAS). As an organization specializing in the testing of denitrification catalysts and environmental protection filter materials and the performance acceptance of environmental protection equipment and facilities, the company provides downstream customers (electricity and non-electricity fields: such as cement, waste incineration, steel, waste incineration, Glass, etc.) provide full life cycle evaluation, assessment and management services to ensure the long-term stable operation of the customer’s on-site units, which improves the company’s core competitiveness and profitability. It has now developed into a third-party testing company and comprehensive type in the field of ecological environment and environmental protection. Technology service provider. As of the end of the reporting period, the company's total assets were 919 million yuan, an increase of 33.64% over the previous year; the net assets attributable to shareholders of listed companies were 615 million yuan, an increase of 55.25...