gtja research reports point out that in 2025, the risks of downward long-term electricity prices are limited, and electrical utilities assets are expected to usher in a new round of value revaluation opportunities with the verification of electricity price stability: 1) Coal-fired power companies in regions with tight supply and demand for electricity, such as the cni yangtze index and other provinces, are expected to have better long-term electricity price contract situations than the national average; 2) Coal-fired power generation companies integrated vertically in the industry chain have their main risk exposure concentrated on the electricity price side after layout, and their profitability stability is relatively high in the steady electricity price phase; 3) Hydroelectric and nuclear power: high-quality power sources with stable business models.