电池及储能行业周报：欧洲市场拓展加速，构网型储能热度提升

Investment Rating - The report indicates a positive outlook for the battery and energy storage sectors, highlighting growth opportunities in the European market and stable pricing trends [7][8]. Core Insights - The battery sector is experiencing accelerated market expansion in Europe, with a significant increase in new energy vehicle sales, projected to reach 11.5 million units in 2024, a year-on-year increase of 20% [14]. - The energy storage sector is witnessing a rise in project tenders and successful bids, with a total of 3.83 GW/6.76 GWh of projects tendered recently, indicating robust demand [17]. Summary by Sections Battery Sector - Market Performance: The battery sector saw a decline of 1.86% in the week of June 17-23, underperforming the CSI 300 index by 0.57 percentage points. Major inflows were noted for companies like XJ Electric and Sungrow Power, while outflows were observed for companies such as Tianqi Lithium and Winbond Technology [7][22]. - Demand Growth: The sales of new energy passenger vehicles in June reached approximately 860,000 units, with a penetration rate of 49.1%. This growth is supported by rapid iterations of new products from automakers [14]. - Supply Adjustments: The supply side is adjusting with stable pricing trends across various materials. Lithium carbonate prices are fluctuating, while the prices of cathode materials are stabilizing around breakeven points [15][16]. Energy Storage Sector - Tender and Bid Activity: In the week ending June 21, 15 new tender projects were announced, with a total scale of 3.83 GW/6.76 GWh. The average bid price for energy storage EPC projects was 1.15 CNY/Wh, reflecting a 14.4% increase [17][34]. - Competitive Landscape: The energy storage industry is experiencing short-term low-price competition, with a focus on large-capacity cell production. The average bid price for domestic two-hour energy storage systems dropped to 0.66 CNY/Wh, a 19.5% decrease from the beginning of the year [18][19]. - Company Focus: Companies like Sangfor Electric are highlighted for their comprehensive energy storage business model, which includes upstream inverters and downstream power stations, positioning them well in the market [20].