Zhong Guo Neng Yuan Wang·2025-11-20 02:06Core Insights - The report indicates a positive outlook for the electric vehicle (EV) market in China, with significant growth in sales and battery installation volumes expected through 2025 [1][2]. Electric Vehicle Market - In October 2025, China's EV sales reached 1.715 million units, marking a year-on-year increase of 19.9% and a penetration rate of 51.6% [1][2]. - From January to October 2025, total EV sales amounted to 12.943 million units, reflecting a year-on-year growth of 32.75% and a penetration rate of 46.7% [1][2]. - The acceleration of major manufacturers transitioning to new energy is contributing to the optimistic market outlook [1][2]. Battery Installation Volume - In October 2025, the installation volume of power batteries in China was 84 GWh, representing a year-on-year increase of 42% [2]. - Cumulatively, from January to October 2025, the total installation volume of power batteries reached 578 GWh, also showing a year-on-year growth of 42% [2]. Lithium Iron Phosphate Battery Performance - In October 2025, the installation volume of lithium iron phosphate batteries was 67.5 GWh, accounting for 80% of total installations, with a year-on-year growth of 44% [2]. - For the same period, ternary battery installations were 16.5 GWh, making up 20% of total installations, with a year-on-year increase of 35.2% [2]. - From January to October 2025, lithium iron phosphate battery installations totaled 470.1 GWh, representing 81% of total installations and a year-on-year growth of 60% [2]. - Ternary battery installations during this period were 107.5 GWh, accounting for 19% of total installations, with a year-on-year decrease of 3% [2]. Leading Companies in Battery Installation - In October 2025, CATL's battery installation volume was 36.1 GWh, representing 43% of total installations and a year-on-year growth of 43% [3]. - BYD's battery installation volume was 17.9 GWh, accounting for 21% of total installations, with a year-on-year increase of 13% [3]. - From January to October 2025, CATL's cumulative battery installation volume was 246.8 GWh, maintaining a 43% share and a year-on-year growth of 35% [3]. - BYD's cumulative battery installation volume was 129.1 GWh, representing 22% of total installations, with a year-on-year increase of 28% [3]. Industry Performance - The electric equipment industry experienced a weekly decline of 0.80%, ranking 23rd among 31 primary industries [4]. - The industry outperformed the CSI 300 index during the same period [4]. - The weekly performance of major indices was as follows: Shanghai Composite Index -0.18%, CSI 300 -1.08%, Shenzhen Component Index -1.40%, and ChiNext Index -3.01% [4]. Stock Performance - The top five stocks in the electric equipment industry by weekly gain were: Huasheng Lithium Battery, Haike New Source, ST Hezhong, Shida Shenghua, and Fangyuan Co [5]. - The top five stocks by weekly loss were: Liangxin Co., Jinpan Technology, Magmi Tech, Zhongheng Electric, and Oulu Tong [6]. Investment Strategy - The report suggests focusing on companies within the power battery supply chain that are technologically advanced and hold significant market influence, such as CATL [7].