Green Electricity Asset-Light Operation Diagram

Strengths

• Asset-light model provides stable cash flow, unaffected by drastic electricity price fluctuations
• Computing-power synergy aligns with the 'Eastern Data, Western Computing' policy, offering vast growth space

Weaknesses

• High dependence on power plant owners, making it difficult to expand across ecosystems on a large scale
• Thin O&M profit margins, requiring high-tech efficiency improvement

Opportunities

• Under the 'Dual Carbon' goals, green electricity consumption demand continues to grow, and the required proportion of green power in computing power centers is increasing
• The photovoltaic existing asset market is exploding, with a large number of long-tail power plants requiring professional management

Threats

• Large state-owned power enterprises building their own O&M teams compress the space for independent operators
• Uncertainty in green electricity trading rules; if subsidies are canceled, it will impact power plant returns