According to the Huatai Securities Research Report, “direct green power connection” policies have been introduced frequently since 2025, and “computing and electricity collaboration” was included in the government work report for the first time in 2026 and raised to the strategic level of the country's new infrastructure. The market generally believes that telecommunication collaboration is conceptual hype. Huatai Securities believes that this is an opportunity for green electricity to break away from “garbage electricity” in the traditional sense of the AI era and get a revaluation. Although the share of direct green power connections will not be too high in the short term, user demand essentially reflects the market value of renewable energy. In the era of AI reasoning, joint scheduling of computing power and electricity is expected to become an important proposition after breaking through the chip bottleneck. Huatai Securities believes that Green Power's active exploration of “new energy +” is an important way to solve consumption and achieve innovative breakthroughs in the added value of wind and power plants; China Electric Power empowers China's AI competitiveness not only in infrastructure integration, but also two-way regulation of “computing and electricity” collaborative optimization. Suggest undervalued high-quality renewable energy targets, including scenery and waste incineration.

According to the Huatai Securities Research Report, “direct green power connection” policies have been introduced frequently since 2025, and “computing and electricity collaboration” was included in the government work report for the first time in 2026 and raised to the strategic level of the country's new infrastructure. The market generally believes that telecommunication collaboration is conceptual hype. Huatai Securities believes that this is an opportunity for green electricity to break away from “garbage electricity” in the traditional sense of the AI era and get a revaluation. Although the share of direct green power connections will not be too high in the short term, user demand essentially reflects the market value of renewable energy. In the era of AI reasoning, joint scheduling of computing power and electricity is expected to become an important proposition after breaking through the chip bottleneck. Huatai Securities believes that Green Power's active exploration of “new energy +” is an important way to solve consumption and achieve innovative breakthroughs in the added value of wind and power plants; China Electric Power empowers China's AI competitiveness not only in infrastructure integration, but also two-way regulation of “computing and electricity” collaborative optimization. Suggest undervalued high-quality renewable energy targets, including scenery and waste incineration.