锂电池产业链双周报：欧盟启动对华电动汽车加征临时反补贴税

Investment Rating - The report maintains a standard rating for the lithium battery industry chain [2] Core Insights - The lithium battery index has decreased by 4.23% over the past two weeks, underperforming the CSI 300 index by 2.38 percentage points [7] - The European Union has initiated temporary anti-subsidy taxes on electric vehicles imported from China, which may exert short-term pressure on export expectations for new energy vehicles [35] - The report suggests focusing on companies with strong performance growth in the battery segment, leading material companies with quality production capacity, and segments benefiting from new battery technologies [35] Summary by Sections Market Review - As of July 5, 2024, the lithium battery index has fallen by 1.14% this month and 0.25% year-to-date, both underperforming the CSI 300 index by 0.26 and 0.25 percentage points respectively [7] - The average price of battery-grade lithium carbonate is 92,000 CNY/ton, down 3.16% in the last two weeks [17] Price Changes in the Lithium Battery Industry Chain - Prices for lithium salts, cobalt, and various battery materials have generally decreased, while the price of electrolytic nickel has slightly increased [15] - Specific price changes include: - Lithium hydroxide (LiOH 56.5%) at 87,800 CNY/ton, down 3.30% [17] - Electrolytic cobalt at 214,000 CNY/ton, down 3.60% [17] - Phosphate lithium at 39,600 CNY/ton, down 1.98% [20] Industry News - The China Passenger Car Association estimates that wholesale sales of new energy passenger vehicles reached 970,000 units in June, a year-on-year increase of 28% [33] - The report highlights the ongoing trend of inventory reduction in the downstream sector, with procurement demand showing a temporary decline [35] Company Announcements - Companies such as Ningde Times, Yiwei Lithium Energy, and others are highlighted as key investment targets due to their strong performance and growth potential [35]