GXED(SH:600617) Zhong Guo Neng Yuan Wang·2025-08-20 01:54Core Insights - In July 2025, the sales of new energy vehicles (NEVs) in nine European countries reached 217,000 units, marking a year-on-year increase of 41.6% and a penetration rate of 27.5%, up by 7.4 percentage points [1][2] - Battery Electric Vehicle (BEV) sales accounted for 134,000 units, up 34.6% year-on-year, while Plug-in Hybrid Electric Vehicle (PHEV) sales reached 84,000 units, showing a significant increase of 54.7% [1][2] Summary by Region - Germany: In July 2025, BEV sales surged to 49,000 units, a year-on-year increase of 58.0%, while PHEV sales reached 27,000 units, up 83.6% [2][3] - United Kingdom: The reintroduction of electric vehicle subsidies led to a slowdown in BEV sales, which totaled 30,000 units, a 9.1% increase year-on-year, while PHEV sales were 17,000 units, up 33.0% [2][3] - France: BEV sales were 20,000 units, reflecting a 14.7% year-on-year increase, while PHEV sales declined to 8,000 units, down 8.3% [3] - Spain: The introduction of new models, promotional activities, and extended tax incentives contributed to the growth of electric vehicle sales, positioning Spain as an investment hub [3] Investment Recommendations - Lithium Batteries: Recommended companies include CATL, EVE Energy, and Xinwangda, with beneficiaries such as Innovation航 and Guoxuan High-Tech [4] - Lithium Materials: Recommended companies include Hunan Youneng, Zhongwei Co., and Huayou Cobalt, with beneficiaries like Fulian Precision and Wanrun New Energy [4][5] - Battery Structural Components: Recommended companies include Minglida, with beneficiaries such as Keda and Minth Group [4][5] - Power/Drive Systems: Recommended companies include Weimaisi and Fute Technology, with beneficiaries like Huangshan Gujie [4][5] - Charging Stations and Modules: Recommended companies include Tonghe Technology, with beneficiaries such as Shenghong Co. and Youyou Green Energy [5]