Once in a Decade! Following "Carbon Neutrality," the Next National Strategic Mainline: 4 Trillion Yuan Synergistic Computing Power!

Thursday night insomnia until 3:30 a.m.! I reflected further on two questions: [Taogu Ba]

1. Will the chemical industry continue to explode until April?
2. Where will the computing power synergy go? Who will it resemble?
   The final conclusion is that the most worthwhile trends from March to April still depend on these two directions!
   Why think about this? Because I proposed the idea of green energy layout in early February, which has been validated, but now the leading stocks have doubled! Should I re-enter now? Or is there a risk of digging deeper?
   After repeated thinking: I believe the divergence here is: opportunity or risk?

The core idea is that computing power synergy is the next carbon neutrality! In 2021, it increased by 1.8 times, with leading stocks rising 5 to 10 times! That’s why institutions and speculators are spreading this chart! Even in the worst case, the business aerospace sector saw a 63% increase over 34 trading days!

And the overall rise in electricity has only lasted 14 trading days, with a total increase of 15%. Do you think it’s over? Or is it just divergence? Also, the average PE of electricity is only 22 times, and at 30 times it probably isn’t enough to share.

No wonder institutions and speculators are spreading this chart:

1. Why is “computing power synergy” the next “carbon neutrality”?

This strategy is regarded as a national-level top-tier strategy following carbon neutrality, with high similarity in policy level, timing, and industry scale.

2. Timeline and explosion rhythm

Carbon neutrality: September 2020, the top-level declaration of the “dual carbon” goal; 2021, the Central Economic Work Conference set the tone, policies fully rolled out; from May 2020 to September 2021, the carbon neutrality index rose about 1.8 times over 8 months, with core targets rising 5 times or more in half a year (e.g., Southern Power Grid Energy).

Computing power synergy: December 2023, “East Data West Computing” implementation plan first proposed “computing power and electricity coordination”; in 2024, multiple departments will introduce special policies; by 2025, the National Energy Administration will include computing load into dispatchable resources; March 2026, it was written into the government work report for the first time, officially elevating it to a national strategy. Currently in the early stage of hype, the sector has not yet fully exploded, with Yinxing Energy hitting two limit-ups in four days, offering greater elasticity.

3. Industry scale and space
   Carbon neutrality: covers electricity, industry, transportation, with a 40-year long cycle and hundreds of trillions in track.
   Computing power synergy: covers green energy, energy storage, dispatching, and computing infrastructure, with domestic scale expected to surpass 1 trillion yuan by 2030, with a CAGR over 150%; globally, reaching $310 billion by 2030, with a CAGR over 42%. Although smaller in total volume than carbon neutrality, it grows faster, has higher focus, and stronger leading effects.

4. Development trends
   Carbon neutrality: global consensus + domestic mandatory assessments, from concept to implementation to marketization, a three-year main upward wave.
   Computing power synergy: global AI computing power shortage resonance (North American data centers face a 30% transformer gap) + domestic policy enforcement, full synchronization from 2026 to 2030, with continued market momentum until 2030, and core stocks expected to match the growth of carbon neutrality.

5. Valuation considerations: overall PE of 22 times, with an average line of 35 times, and 31 times in 2017. Is it expensive?

2. Major opportunities for upgrading the computing power synergy strategy

1. From macro to micro, this strategy brings three-dimensional opportunities:
   National strategic security: solving the spatiotemporal mismatch of “computing power - electricity”. Eastern regions lack power but need computing; western regions have green energy but lack load. Computing power synergy is the only solution to ensure the safe operation of national digital infrastructure.
   It was written into the government work report for the first time, alongside “super-large-scale intelligent computing clusters,” becoming a core project of the 14th Five-Year Plan’s new infrastructure, with national-level coordination of “computing network + power grid” integration.
   Economic development: activating western assets. Converting the originally potentially abandoned wind and solar energy in the west into high-value computing services, driving the digital economy in the west, while reducing eastern computing costs (western green electricity at 0.3-0.4 yuan/kWh vs. high-priced electricity in the east).
   Cost reduction benefits: using green electricity for computing centers saves 0.15-0.3 yuan per kWh, reducing annual costs by 120-240 million yuan; PUE reduced below 1.25, cutting energy consumption and carbon emissions simultaneously.
   Global trend: AI energy consumption is a worldwide challenge. Through computing power synergy, China can build the lowest-cost, greenest global computing centers, enhancing the international competitiveness of its AI industry.
   Directly driving: green energy, energy storage, intelligent dispatching, and computing infrastructure sectors, with domestic scale expected to surpass 1 trillion yuan by 2030, spurring demand for UHV, liquid cooling, HVDC equipment, etc.

2. Underlying logic of the national strategy: three rigid contradictions, with computing power and electricity coordination as the only solution
   Contradiction 1: spatiotemporal mismatch of computing power and electricity (east-west imbalance)
   Current situation: Eastern regions concentrate 60% of computing demand but lack green energy; western regions have abundant green energy but suffer from severe wind and solar abandonment.
   Solution: “East Data West Computing” + direct connection of green energy. Moving computing westward to directly absorb western green energy.
   Contradiction 2: AI energy explosion, industry survival pressure
   Current situation: data center electricity costs account for 60-70% of operating costs. By 2025, data center energy consumption will account for 2.4% of the national total, with some cities exceeding 20%.
   Solution: direct supply of low-cost green energy. Using low-cost western green energy to turn electricity costs into a core competitive advantage for the computing industry.
   Contradiction 3: rapid growth of new energy installations, increasing absorption pressure
   Current situation: annual new renewable capacity exceeds 200 million kW from 2025 to 2027, with grid absorption difficulties.
   Solution: computing as a flexible load. Data centers can “adjust computing with electricity,” computing more when generation is abundant and less when insufficient, becoming the best absorption carriers.

3. Policy closed loop: from guidance to enforcement, comprehensive implementation path

The government uses a three-layer policy cycle of assessment, models, and supply to thoroughly clear obstacles to computing power synergy, ensuring rigid constraints across the entire chain.

1. Assessment cycle: absorption responsibility delegated, making green energy demand rigid
   By 2025: monitoring green energy consumption in electrolytic aluminum, steel, cement, polysilicon, and hub data centers;
   By 2026: mandatory assessment of four high-energy-consuming industries + new data centers, with green energy share in new data centers ≥80%;
   Basis for calculation: green energy consumption ratio based on green certificates, with demand for green certificates fully exploding.

2. Model cycle: defining three major implementation forms for large-scale promotion
   Green energy direct connection: new energy not connected to the public grid, directly powering computing centers, with physical source tracing;
   Source-grid-load-storage integration: coordinated dispatch of power sources, grids, loads, and energy storage, to adapt to computing fluctuations;
   Virtual power plant: aggregating computing loads to participate in electricity trading, gaining market-based revenue.
3. Supply cycle: green certificate market clearing, environmental value returning
   Supply side: by the end of 2024, green certificate reissuance ends, supply shrinks to stabilize, with certificates issued before 2024 expiring by the end of 2025;
   Demand side: in 2025, green certificate trading reaches 930 million units, +108% YoY, with demand for assessments doubling in 2026;
   Price side: January 2026, average green certificate price at 5.11 yuan/unit, +11.9% MoM, with environmental value continuously realized.

4. Supply-demand reversal and environmental value revaluation

1. Core rules of green certificates
   One green certificate equals 1,000 kWh of renewable energy, valid for 2 years, the only proof of green electricity’s environmental value.

2. Supply and demand pattern reversal
   Supply: end of reissuance in 2024, issuance of 2.947 billion green certificates in 2025, a 37.7% decrease from 2024;
   Demand: in 2026, four major industries + data centers will undergo mandatory assessments, with demand jumping from 446 million units (2024) to tens of billions;
   Value estimate: green certificate price at 5 yuan/unit, with every 20% increase in environmental value raising operator revenue by 1 yuan/MWh.

3. Industry ecosystem: four core sectors of computing power synergy
   First, core operation modes
   “Compute with electricity dispatch”: computing load actively adapts to wind and solar output, absorbing excess green energy, reducing wind and solar abandonment;
   “Electricity with compute use”: building flexible power pools to provide stable green electricity support for computing loads, ensuring operation.

Second, four core sectors (industry transmission order)
First tier: integrated computing and electricity (core assets) holding wind, solar, storage resources + computing/IDC layout, directly benefiting from green energy premiums and computing gains.
Second tier: green energy operators (core beneficiaries) with state-owned background, ample green energy capacity, directly benefiting from demand explosion and absorption enhancement.
Third tier: energy storage (rigid support) with wind, solar, and computing fluctuations, energy storage as a necessity, with AI energy storage and source-grid-storage solutions showing performance.
Fourth tier: intelligent dispatching (core barrier) “operating system” of computing and electricity coordination, connecting computing and power dispatch, with the highest technical barriers.

5. Beneficiary companies overview

Summary: “Computing power and electricity coordination” indeed has the potential to become a long-term main line.
It’s not just an upgrade of “East Data West Computing,” but a reconstruction of energy infrastructure in the AI era. Compared to 2021’s carbon neutrality, the demand side (AI computing) growth is more rigid, and policy constraints (mandatory green energy ratio) are more specific.
After reading, can you understand where the future value of electricity lies, where the push is strongest, and who the leading companies will be? If not, please like, share, and comment: Once in ten years! After “carbon neutrality,” the next national-level strategic main line: 40 trillion computing power synergy!

This is just my personal trading review and reflection. Investment involves risks; trade cautiously! Plans are always faster than actions; everything should be based on market conditions. The content is personal thinking and record, reflecting my understanding of the market, for personal sharing only, not investment advice. Buy and sell at your own risk!
(Research and organizing data is not easy; your likes, shares, and comments are our motivation. Thank you!)

Market overview: On Friday, the overall market experienced a sharp decline, especially in the afternoon, triggering risk concerns. The most obvious decline was in the defensive sectors of electricity and chemicals, which may continue. Ultimately, 3,606 stocks declined, 1,436 rose, with the main trend oscillating. Although there was a decline, volume did not increase significantly; total volume remained around 2.4 trillion yuan, and no break below support, so the overall bullish view until the 16th remains unchanged. Afterwards, expect continued oscillation until around March 25, within the 4,198–4,052 range!

Sentiment: Sentiment remains at a low point, with 59 limit-ups, 2 limit-downs, a 77% hit rate, and 13 consecutive limit-ups, with 8 stocks hitting the daily limit.
Sector focus: Currently no dominant theme; the strongest sectors are nuclear power, electricity, and chemicals! Electricity and chemicals have seen the most explosive growth, possibly leading the overall trend! Supporting sectors: optical communications, lithium batteries, nuclear power.
Electric power: Leading stock Dajin Heavy Industry with 2 limit-ups; subsequent stocks Tianshun and Tongyu showed a rebound, but whether this continues is key!
Chemicals: Leading stock Jinjian has 10 limit-ups in 20 days; the strongest is Luxin Technology with 2 limit-ups, followed by Sanfangxiang. Others need further observation.
Nuclear power: Leading stock Lansi Heavy Equipment with 1 limit-up; others like Tongfang and Jiangsu are not strong; the strongest is Nuclear Power Construction, which may continue to explode over the weekend with positive news.
Success has no shortcuts; only discipline and persistence! Wishing everyone on the path of effort, the more you work, the luckier you get!

Today’s focus:

1. The “3.15” evening gala this year themed “Trustworthy Consumption, Quality Life,” focusing on violations harming consumer rights in food safety, public safety, financial security, and advertising markets;
2. On March 10, 2026, at the second nuclear energy summit in Paris, China announced joining the “Triple Nuclear Declaration” initiated by 22 countries at the 28th UN Climate Change Conference.

Follow commodity themes

1. Live pigs 10.33 (-0.19%, pig cost 12, Muyuan 11.6 yuan, feed costs over 50%, labor 10-15%).
2. Battery lithium carbonate 158,000 (0%, salt lake cost 30,000-40,000, mica 60,000-90,000, lithium hydroxide 60,000-80,000).
3. Praseodymium-neodymium oxide 785,000 (%, NdFeB N35: 1,795,000 (0%), light cost 350,000-400,000. MP 790,000, Australia 450,000-500,000. Mining: 8,000–10,000 yuan/ton, heavy rare earth 1.3–1.5 million yuan/ton).
   First like, then watch, aiming for millions monthly! Thank you all for your support!