Zhi Tong Cai Jing·2026-01-12 02:33Core Viewpoint - The report from Zhongyin International indicates that global sales of new energy vehicles (NEVs) are expected to maintain high growth, potentially reaching a historical high by 2026, driven by strong demand and technological advancements in the industry [1][2]. Group 1: New Energy Vehicle Market - Global demand for new energy vehicles is projected to continue growing, with sales expected to reach approximately 26 million units in 2026, representing a year-on-year increase of about 15% [2]. - The market is experiencing steady growth, with increasing penetration rates and expanding market space, supported by the introduction of new models and advancements in smart and connected technologies [2]. Group 2: Battery Industry Outlook - The demand for power batteries is expected to grow significantly, with domestic installed capacity projected to maintain a high growth rate in 2026 [3]. - The market share of lithium iron phosphate batteries is anticipated to continue rising, while the costs of lithium battery raw materials have increased since October 2025, posing challenges for battery manufacturers in cost management [3]. Group 3: Material Sector Dynamics - The consensus on "anti-involution" in the midstream materials sector suggests that high demand coupled with cautious capacity expansion may lead to a supply-demand mismatch, particularly in the lithium hexafluorophosphate segment, which is expected to see price recovery [4]. - Companies in the tight supply segments, such as lithium iron phosphate cathodes, separators, anodes, and copper foils, are recommended for investment due to their potential for profit recovery [4]. Group 4: Solid-State Battery Development - The industrialization of solid-state batteries is accelerating, entering a phase of pilot testing and small-scale vehicle validation, which is expected to benefit equipment manufacturers and high-value material segments [5]. - Companies that can achieve stable supply, have mature processes, and clear cost reduction paths are recommended for investment, especially those that have collaborated early with industry leaders [5]. Group 5: Investment Recommendations - The new energy vehicle supply chain is expected to maintain high growth, with battery cell segments showing strong resilience in profitability [6]. - Investment focus is suggested on leading companies in tight supply segments and those involved in solid-state battery technology, including firms like CATL, EVE Energy, and others listed in the report [6].