锂电概念走弱，创业板指跌超1.5%，机构称锂电有望迎接反转行情

Market Overview - On November 4, A-shares saw all three major indices decline, with the ChiNext Index dropping over 1.5%. The sectors leading the decline included non-ferrous metals, electric equipment, and pharmaceutical biology, while a few sectors like banking experienced gains [1]. Concept Sectors - The concept sectors that remained active included cross-strait integration, ice and snow tourism, and central enterprise banks. Conversely, concepts such as CRO, Yushu Robotics, and lithium battery anodes and cathodes faced significant declines [1]. ETF Performance - The Sci-Tech Innovation 50 ETF (159783) fell nearly 1%, with major holdings like Sungrow Power Supply, EVE Energy, and Daqo New Energy leading the losses. The Cloud Computing 50 ETF (516630) also saw a slight decline, with holdings such as DataPort, Shiji Information, and Taxu You Holdings underperforming [1][3]. Lithium Battery Sector Insights - Guojin Securities predicts that by 2025, breakthroughs in solid-state battery technology will accelerate industry capital expenditure (Capex). This, combined with continuous supply-side reforms and capacity convergence from 2023 to 2025, may lead to an unexpected improvement in the supply-demand dynamics of the energy storage sector, resulting in a price surge across multiple links in the industry [1]. Industry Strategy - The firm emphasizes that differentiated leading companies in niche segments should be prioritized for investment. These leading products exhibit significant competitive advantages in terms of cost, and the industry is expected to maintain a high capacity utilization rate for these top-tier producers, ensuring the most reliable performance and flexibility [1]. Recommendations - Starting from the second half of 2025, the lithium battery sector is anticipated to enter a new turning point in supply and demand. The report recommends focusing on high-demand segments such as 6F, energy storage batteries, and separators, with leading companies in these niches, such as CATL and EVE Energy, being highlighted as key investment opportunities [1].