电力设备与新能源行业7月第2周周报：光伏行业规范条件印发，大众加注固态电池

Investment Rating - The report maintains an "Outperform" rating for the power equipment and new energy sector [1]. Core Insights - The photovoltaic industry is expected to accelerate capacity clearing due to new industry regulations, suggesting a preference for segments with better industry structure and cost advantages [1]. - In the wind power sector, performance risks from Q2 are gradually materializing, with expectations for improved performance in the second half of the year [1]. - The electric vehicle market shows strong growth, with June sales reaching 1.003 million units, a year-on-year increase of 28.1% [1]. - The report highlights significant investments in solid-state battery production by major automotive manufacturers [1]. Summary by Sections Market Performance - The power equipment and new energy sector rose by 1.60%, outperforming the broader market indices [7]. - The new energy vehicle index increased by 3.93%, while the photovoltaic sector rose by 2.29% [9]. Industry Dynamics - The Ministry of Industry and Information Technology has issued new regulations for the photovoltaic manufacturing industry, which includes a minimum capital requirement of 30% for all segments [1]. - The lithium battery sector saw a year-on-year increase in installed capacity of 30.2% in June, with a total of 42.8 GWh [1]. Company Updates - Major companies are forecasting varied profit results for the first half of 2024, with some expecting significant declines while others anticipate growth [55]. - Longi Green Energy plans to invest 3.206 billion yuan in a new high-efficiency battery project [55]. - Dongfang Electric is expected to see a profit increase of 55.93% to 61.93% in the same period [55]. Price Observations - The report notes that the price of silicon materials is expected to stabilize in the range of 37-41 yuan per kilogram, with a slight decrease in supply anticipated [12]. - The price of battery cells is under pressure, with some manufacturers considering production cuts due to declining prices [13]. Valuation Summary - Longi Green Energy is rated "Buy" with a target price of 14.18 yuan, while Dongfang Electric is rated "Hold" with a target price of 47.35 yuan [56].