Galaxy Securities' research reports indicate that the Energy Law clearly defines the future development direction of China's energy as safe, reliable, and green low-carbon. Based on this, in the category of renewable energy, on one hand, the growth of new energy installed capacity is expected to continue, while the continuous enhancement of the electrical utilities system's regulatory capabilities and the further improvement of electrical utilities pricing mechanisms are anticipated to alleviate the current challenges faced by new energy regarding absorption and downward pressure on electricity prices. It is recommended to focus on left-side layout opportunities in the green electricity sector; on the other hand, there is bullish sentiment regarding the scarcity of large hydropower assets. Under the integrated development strategy of hydropower, wind power, and energy storage, new energy and pumped storage are expected to become the second growth pole for hydropower companies. In the non-renewable energy category, nuclear power is expected to replace coal power as a clean baseload power source, while the reliability and flexibility values of coal and gas power are likely to be adequately priced in the future, with valuations anticipated to be reshaped. The thermal power sector, possessing policy catalysis, continuous performance improvement, and room for valuation enhancement, is viewed with optimism for the whole year; the hydropower and nuclear power sectors, characterized by high performance certainty and strong dividend capacity, are bullish in the long term. New energy is already at the bottom area. Specific stocks to focus on: An Hui Wenergy, china yangtze power, and cgn power co.,ltd.