China Galaxy Securities highlights that in the realm of green energy, the assessment of energy consumption targets during the final year of the 14th Five-Year Plan is poised to fuel the expansion of green power demand. Furthermore, the establishment of a pricing mechanism aimed at the sustainable growth of renewable energy will render the industry's future earnings projections more transparent. We recommend capitalizing on the sector's turning point. Regarding thermal power, the market price of 5500 kcal thermal coal at Qinhuangdao Port has recently rebounded to 704 yuan/ton, marking an uptick of approximately 100 yuan/ton from the year's nadir, yet still reflecting a year-over-year decline of 129 yuan/ton. It is anticipated that as the peak season concludes and coal shipments resume, coal prices will resume their downward trajectory. Investors are advised to focus on enterprises with significant exposure to market coal and relatively modest reductions in annual long-term contract electricity prices for 2025.