动力电池产量追踪系列：24M7动力电池产量保持增长，装车量稳中有进

Investment Rating - The report maintains an "Outperform" rating for the industry [2] Core Insights - The production of power batteries in China continues to grow, with a total output of 91.8 GWh in July, representing a year-on-year increase of 33.1% and a month-on-month increase of 8.6% [4] - The cumulative production from January to July reached 521.8 GWh, with a year-on-year growth of 36.2% [4] - The report highlights the strong performance of lithium iron phosphate batteries, which accounted for 74.7% of total production in July, with a year-on-year growth of 43.2% [4] - The cumulative installation volume of power batteries from January to July was 244.9 GWh, reflecting a year-on-year increase of 32.8% [4] Summary by Sections Production Data - In July, the production of ternary batteries was 23.0 GWh, making up 25.1% of total production, with a year-on-year increase of 9.7% [4] - Lithium iron phosphate battery production was 68.5 GWh, with a year-on-year increase of 43.2% [4] - Cumulative production of ternary batteries from January to July was 149.9 GWh, with a year-on-year growth of 24.1% [4] Installation Volume - In July, the installation volume of power batteries was 41.6 GWh, a year-on-year increase of 29.0% [4] - Ternary battery installation volume was 11.4 GWh, accounting for 27.3% of total installations, with a year-on-year increase of 7.5% [4] - Cumulative installation volume of ternary batteries from January to July was 73.6 GWh, with a year-on-year growth of 25.7% [4] Company Rankings - In July, the top five domestic power battery companies by installation volume were CATL (19.42 GWh), BYD (9.37 GWh), and others [5] - Cumulatively, from January to July, CATL led with 112.73 GWh, followed by BYD with 59.88 GWh [5] Investment Recommendations - The report suggests focusing on the new energy vehicle supply chain, highlighting key players such as CATL, BYD, and others in various segments [5]