Zhi Tong Cai Jing·2025-09-16 02:23Core Viewpoint - The lithium battery sector outperformed the CSI 300 index in August, driven by market style shifts, continuous growth in electric vehicle sales, performance growth in the lithium battery sector, and developments related to solid-state batteries [1][3]. Group 1: Lithium Battery Sector Performance - In August 2025, the lithium battery index rose by 13.23%, while the new energy vehicle index increased by 14.99%, compared to a 10.90% rise in the CSI 300 index, indicating stronger performance of the lithium battery sector [1]. - The sector's performance is attributed to the ongoing growth in electric vehicle sales, which reached 1.395 million units in August 2025, marking a year-on-year increase of 26.82% and a month-on-month increase of 10.54% [1]. Group 2: Sales and Production Data - In August 2025, the installed capacity of power batteries in China was 62.5 GWh, reflecting a year-on-year growth of 32.42%, with ternary material installations accounting for 17.44% [1]. - Leading companies in installed capacity include CATL, BYD, and Zhongchuang Innovation [1]. Group 3: Raw Material Prices - As of September 12, 2025, the price of battery-grade lithium carbonate was 71,000 CNY/ton, up 3.65% from early August, while lithium hydroxide rose by 12.25% to 76,800 CNY/ton [2]. - Other raw materials also saw price increases, with cobalt electrolyte priced at 274,000 CNY/ton (up 1.48%) and lithium iron phosphate at 34,700 CNY/ton (up 0.58%) [2]. Group 4: Industry Outlook - The industry maintains a "stronger than the market" investment rating, with the lithium battery and ChiNext valuations at 27.58 times and 44.35 times, respectively [3]. - The overall industry outlook remains positive, with a focus on upstream raw material price trends, monthly sales, domestic and international policies, and advancements in solid-state batteries [3].