On December 20th, Gelonghui reported that recently, under the overall organization of the National Energy Administration, the China Electricity Council collaborated with more than 20 units, including State Grid, Southern Grid, and large power generation groups, to jointly prepare the "Blue Book." It systematically summarizes the achievements of China's electricity market construction, analyzes the situation and challenges in depth, and proposes the development path and key tasks for further advancing the construction of a unified national electricity market. The "Blue Book" clearly outlines the roadmap and timetable for the development of the unified national electricity market for the first time, providing a clear direction for the healthy, orderly, and efficient development of the Chinese electricity market. The report indicates that the entry of new energy into the market has accelerated compared to previous expectations, and there are reasonable policy expectations for returns for new energy power operation companies entering the market. Currently, the overall valuation of the power operation sector in the Hong Kong stock market remains relatively low, with several stocks offering dividend yields exceeding 6%. Investors are advised to focus on quality power operators with low valuations and high dividends, such as CHINA RES POWER, and high-quality new energy power operation companies like CHINA LONGYUAN and CHINA SUNTIEN.