2026年电力行业年度策略：开端破局电改当立

50%

40%

30%

20%

10%

0%

-10%

-20%

20

19

18

17

16

15

14

13

12

11

10

2023-12-31

2024-01-31

2024-02-29

2024-03-31

2024-04-30

2024-05-31

2024-06-30

2024-07-31

2024-08-31

2024-09-30

2024-10-31

2024-11-30

2024-12-31

2025-01-31

2025-02-28

2025-03-31

300

A

2025-04-30

2025-05-31

2025-06-30

2025-07-31

2025-08-31

2025-09-30

2025-10-31

2

180

54 36

56

200

50000

45000

4318431473

40000

3781

35000

31798

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33000 @

3260

2617

2756

20000

15000

10000

5000

20%

ł8%

16%

ł4%12%

ł0%8%

6%

4%

2%

2024A

2025E

2026E

2027E 2028E 2029E

2030E

•

•

•

•

•

•

•

•

•

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1

2961953

-298

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9.47

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