According to BJX Power News, all power grid projects under construction in Zhejiang, from UHV to distribution networks, have fully resumed work. State Grid Corporation of China has launched an investment plan of over 4 trillion yuan for the 15th Five-Year Plan period. As a core part of this plan, State Grid Zhejiang Electric Power’s total investment in 2026 will exceed 51 billion yuan. Of this massive investment, 33.46 billion yuan will be directly allocated to power grid infrastructure construction. To ensure a strong start to the annual tasks, State Grid Zhejiang Electric Power is striving to complete over 10 billion yuan of investment in Q1.

Fujian Guangmin Copper Industry Co., Ltd.'s annual 35,000-ton cold-rolled high-precision copper strip project is striving for a strong start in the first quarter with solid efforts. The Fujian Guangmin Copper Cold-Rolled High-Precision Copper Strip Project is a key cooperation project between Guangdong and Longyan, with a total investment of 1 billion yuan.The project is being constructed in two phases: the first phase includes the construction of an annual production capacity of 20,000 tons of high-performance purple copper and brass high-precision strips and ancillary facilities, while the second phase involves the construction of an annual production capacity of 15,000 tons of high-copper alloy high-precision strips and related facilities.

March 17, Tesla (TSLA) and South Korean battery giant LG Energy (850101) formally confirmed that they would jointly build an LFP battery (884309) plant in Lansing, Michigan, with an investment of $4.3 billion, to support the rapid expansion of Tesla’s (TSLA) energy storage (885921) system business. The US Department of the Interior formally confirmed the deal in a statement. Under the agreement, LG Energy (850101) will produce prismatic LFP batteries (884309) at its plant in Lansing, Michigan, US, and supply them for Tesla’s (TSLA) Megapack 3 energy storage (885921) systems. The Lansing plant is expected to begin operations in 2027. The move is intended to establish a domestic US battery supply chain and address the surge in electricity (562350) demand driven by AI (885728) data centers.

In Q1 2026, China’s spot silver ingot market underwent a marked shift from extreme frenzy to a rational return. As investment enthusiasm cooled significantly and large volumes of imported silver ingots flowed in, the structure of spot premiums underwent a fundamental adjustment, while the market’s supply-demand pattern continued to be reshaped.

On March 11, 2026, the Company convened the 19th meeting of the eighth Board of Directors and approved the investment in and construction of the 99 MW/198 MWh energy storage project in Valcea, Romania through its third-tier holding subsidiary, Greenet Plant S.R.L. The total investment in this project will not exceed EUR 42.8137 million (the final total investment will be subject to the actual investment). The total investment amount involved is the planned investment scale and may be adjusted subsequently based on specific circumstances such as fundraising, project progress, and filing and approval procedures. There is a risk that the actual investment amount may differ from the investment plan.

[SMM Steel] During the Progressive Punjab Investors’ Summit, major steel players announced massive CAPEX plans fueled by new ease-of-business policies. ArcelorMittal will invest over INR 60,000 crore, while Tata Steel and JSW Group committed INR 3,200 crore and INR 3,000 crore respectively for new plants and capacity expansions. These investments mark Punjab’s strategic transition from an agricultural hub to a major manufacturing and steel production base.

National Bureau of Statistics (NBS): In January-February, the national economy got off to a strong start and achieved a good opening. Value-added industrial output of enterprises above designated size rose 6.3% YoY, total retail sales of consumer goods increased 2.8%, and real estate development investment fell 11.1% YoY.

On March 16, Wanshun New Materials issued an announcement stating that its wholly-owned subsidiary, Jiangsu Zhongji Composite Materials (Hong Kong) Co., Ltd., plans to acquire 100% equity of Eurofoil Luxembourg S.A. from Aluminium Investment Company Limited for €12,388,900 in cash. Upon completion of the transaction, the company will hold 100% equity of Eurofoil Luxembourg, which will be included in the company's consolidated financial statements. According to the valuation, the market value of Eurofoil Luxembourg's net assets is €32,170,300, representing an increase of €11,150,100 over the book net assets, a 53.04% increase.

Data from the National Bureau of Statistics (NBS) showed that in January-February, China’s real estate development investment totaled 961.2 billion yuan, down 11.1% YoY, with the decline narrowing by 6.1 percentage points from the full-year level of the previous year; of which, residential investment was 728.2 billion yuan, down 10.7%, with the decline narrowing by 5.6 percentage points. In January-February, the floor space of buildings under construction by real estate development enterprises nationwide was 5.3537 billion m², down 11.7% YoY. Of this total, residential floor space under construction was 3.7135 billion m², down 11.9%. The floor space of buildings newly started was 50.84 million m², down 23.1%. Of this total, residential floor space newly started was 36.95 million m², down 23.3%. The floor space of buildings completed was 63.2 million m², down 27.9%. Of this total, residential floor space completed was 46.25 million m², down 26.9%. I. Completion of Real Estate Development Investment In January-February, China’s real estate development investment totaled 961.2 billion yuan, down 11.1% YoY (calculated on a comparable basis; see Note 5 for details), with the decline narrowing by 6.1 percentage points from the full-year level of the previous year; of which, residential investment was 728.2 billion yuan, down 10.7%, with the decline narrowing by 5.6 percentage points. In January-February, the floor space of buildings under construction by real estate development enterprises was 5.3537 billion m², down 11.7% YoY. Of this total, residential floor space under construction was 3.7135 billion m², down 11.9%. The floor space of buildings newly started was 50.84 million m², down 23.1%. Of this total, residential floor space newly started was 36.95 million m², down 23.3%. The floor space of buildings completed was 63.2 million m², down 27.9%. Of this total, residential floor space completed was 46.25 million m², down 26.9%. II. Sales of Newly Built Commercial Buildings and Pending Sale Status In January-February, the floor space of newly built commercial buildings sold was 92.93 million m², down 13.5% YoY, with the decline widening by 4.8 percentage points from the full-year level of the previous year; of which, residential sales floor space fell 15.9%. Sales of newly built commercial buildings amounted to 818.6 billion yuan, down 20.2%, with the decline widening by 7.6 percentage points; of which, residential sales value fell 21.8%. At month-end February, the floor space of commercial buildings pending sale was 799.98 million m², up 0.1% YoY, with the growth rate pulling back by 1.5 percentage points from year-end 2025. Of this total, the floor space pending sale for less than three years was 606.16 million m², down 1.6%. III. Funding Sources of Real Estate Development Enterprises In January-February, funds in place for real estate development enterprises totaled 1,304.7 billion yuan, down 16.5% YoY. Of this total, China domestic loans stood at 257 billion yuan, down 13.9%; self-raised funds were 493.9 billion yuan, down 5.9%; deposits and advance receipts were 358.9 billion yuan, down 21.5%; and individual mortgage loans were 112.8 billion yuan, down 41.9%.

[SMM Hydrogen Energy Bulletin] On March 12, the hydrogen production engineering EPC tender was released for the Lishu Wind and Solar Power-to-Green Hydrogen Biomass-Coupled Green Methanol Project of Electric Power Investment Green Energy. It was learned that the project is located in the chemical park of Siping New-Type Industrialization Economic Development Zone, Lishu County, Siping City, Jilin Province. It adopts a green hydrogen-coupled biomass gasification process to synthesize 197,200 mt of methanol per year. Construction began in August 2025, and it is expected to be commissioned in September 2027. The project includes three hydrogen production workshops in total. Workshops No. 1 and No. 2 will each be equipped with 12 sets of 1000 Nm³/h alkaline water electrolysis hydrogen production units and 3 sets of 4000 Nm³/h hydrogen purification units; Workshop No. 3 will be equipped with 4 sets of 1000 Nm³/h alkaline water electrolysis hydrogen production units and 1 set of 4000 Nm³/h gas-liquid separation unit, among others.