新能源行业周报（第101期）：中报压力逐步释放，重视龙头底部

Investment Rating - The report maintains a "Positive" investment rating for the power equipment and new energy sector [2]. Core Viewpoints - The report highlights that the pressure from mid-year reports is gradually being released, emphasizing the importance of quality leading companies at the bottom of the market [2][3]. - In the new energy vehicle sector, solid-state battery advancements are accelerating, with significant growth expected in the coming years [3][14]. - The photovoltaic industry is experiencing high growth in domestic installations, with opportunities arising from mid-year impairment pressures [4][16]. - The wind power sector is seeing positive progress in offshore projects, with an expected acceleration in cable bidding in the latter half of the year [17][20]. Summary by Sections New Energy Vehicles - Solid-state battery products from Penghui Energy have achieved significant breakthroughs, with expectations for accelerated application in various fields [3][14]. - The report forecasts that half-solid-state battery shipments will reach 2.1 GWh in 2024, with a projected global sales volume exceeding 700 GWh by 2030 [3][14]. - Major companies like Purtai, Shangtai Technology, and Xiangfenghua reported mixed results, with Purtai's revenue at 6.331 billion yuan, down 18.89% year-on-year [3][14]. Photovoltaic Industry - The National Energy Administration reported a cumulative new installation of 123.53 GW in 2024, a year-on-year increase of 27.14% [4][16]. - The report indicates that the mid-year performance pressure is expected to create layout opportunities, particularly for leading companies with strong brand and channel advantages [5][16]. - Key players in the photovoltaic sector include integrated companies like Longi Green Energy and JinkoSolar, as well as auxiliary material companies like Foster and Sungrow [6][16]. Wind Power Industry - The Huazhong Lianjiang offshore wind project is moving forward with cable bidding expected to accelerate in the third and fourth quarters [17][20]. - The report notes that the Guangdong 900 MW offshore wind project has announced turbine bidding candidates, indicating positive progress in provincial projects [18][20]. - Investment recommendations include focusing on offshore cable companies and turbine manufacturers, with a potential reversal in profitability for certain machine enterprises [20].