电气设备行业周报：硅料价格平稳，国内前七月光伏装机维持增长

Investment Rating - The report maintains an "Outperform" rating for the electrical equipment industry [3] Core Insights - The price of polysilicon remains stable, with the domestic photovoltaic installed capacity maintaining growth in the first seven months of the year [3][12] - The report highlights several investment recommendations across different segments of the renewable energy sector, including solar, wind, and electric vehicles [6][25][40] Summary by Sections 1. Polysilicon Price Stability and Photovoltaic Installed Capacity Growth - Polysilicon prices are stable, with n-type rod silicon trading between 39,000-44,000 CNY/ton, averaging 41,000 CNY/ton; single crystal dense material ranges from 33,000-36,000 CNY/ton, averaging 34,300 CNY/ton; n-type granular silicon is priced between 36,000-37,000 CNY/ton, averaging 36,700 CNY/ton [12][13] - In the first seven months of 2024, China's newly installed photovoltaic capacity reached 123.53 GW, a year-on-year increase of 27.1%, with July alone contributing 21.05 GW, up 12.3% year-on-year [14] 2. Investment Recommendations in New Energy Generation - Suggested focus areas include integrated component companies with new battery technologies such as JinkoSolar, LONGi Green Energy, JA Solar, and Trina Solar; emerging technologies in the battery segment like Tongwei Co., Aiko Solar, and Junda Co.; silicon wafer companies with efficiency or volume growth logic like TCL Zhonghuan and Shuangliang Eco-Energy; leading inverter companies benefiting from overall growth such as Ginlong Technologies, Sungrow Power Supply, and Dewei Co.; and energy storage battery suppliers like CATL, EVE Energy, and Pylon Technologies [6][17] 3. Investment Recommendations in Electric Vehicles - Recommended companies include leading firms with global competitiveness in various segments such as CATL, Enjie, BTR, Tianneng Battery, and others; second-tier lithium battery companies focusing on power and energy storage like EVE Energy and Guoxuan High-Tech; quality companies in lithium battery materials like Zhongke Electric, Dangsheng Technology, and others; leading component manufacturers benefiting from global electrification like Inovance Technology and others; and innovative new forces in smart products like Tesla, NIO, Xpeng Motors, and Li Auto [25][36] 4. Investment Recommendations in Industrial Control and Power Equipment - Emphasis on the energy storage segment, with recommended companies including New Fengguang, Jinpan Technology, Sifang Co., and Guodian NARI Technology [40]