CATL(SZ:300750) Mei Ri Jing Ji Xin Wen·2025-11-11 10:08Group 1 - The current supply of power batteries in China is tightening, with high capacity utilization rates, leading to competition among automakers to secure battery supplies [1][2] - The sales of new energy vehicles (NEVs) in China have surged, with a 30% year-on-year increase in production and sales from January to October, and October's monthly sales exceeding 50% of total new car sales for the first time [2][4] - The upcoming reduction in purchase tax for NEVs is prompting consumers to accelerate their vehicle purchases, creating additional pressure on battery supply [4][5] Group 2 - The demand for lithium batteries in the energy storage market is significantly increasing, contributing to the tight supply of power batteries [5][6] - In Q3, China's energy storage lithium battery shipments reached 165 GWh, a 65% year-on-year increase, with total shipments for the first three quarters exceeding 430 GWh [6][7] - The current hot demand in the energy storage market is causing a "reverse siphon" effect on the power battery supply chain, as manufacturers prioritize energy storage specifications over automotive battery production [6][7]