Zhong Guo Neng Yuan Wang·2025-09-16 03:26Core Viewpoint - The lithium battery sector shows strong performance in August 2025, outperforming the CSI 300 index, driven by increasing sales of new energy vehicles and robust battery installation growth [1][2][4]. Group 1: Lithium Battery Index 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 in the lithium battery sector [1][2]. - The overall industry outlook remains positive, with the lithium battery sector's performance linked to market style shifts, continuous growth in new energy vehicle sales, and advancements in solid-state battery technology [4]. Group 2: New Energy Vehicle Sales - In August 2025, new energy vehicle sales in China reached 1.395 million units, marking a year-on-year increase of 26.82% and a month-on-month increase of 10.54%, accounting for 48.83% of total monthly sales [2]. - The growth in sales is attributed to ongoing policy support and improvements in the cost-performance ratio of new energy vehicles [2]. Group 3: Battery Installation Growth - In August 2025, the installed capacity of power batteries in China reached 62.5 GWh, representing a year-on-year growth of 32.42%, with ternary materials accounting for 17.44% of the total installed capacity [2]. - Leading companies in battery installation include CATL, BYD, and Zhongchuang Innovation, which ranked as the top three [2]. Group 4: 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 [3]. - Other raw materials also saw price increases, including cobalt electrolyte at 274,000 CNY/ton (up 1.48%) and lithium iron phosphate at 34,700 CNY/ton (up 0.58%) [3]. Group 5: Investment Rating and Outlook - The industry maintains a "stronger than market" investment rating, with lithium battery and ChiNext valuations at 27.58 times and 44.35 times, respectively [4]. - The overall industry sentiment is expected to remain upward, with a focus on raw material price trends, monthly sales, and relevant domestic and international policies [4].