电力设备及新能源行业周报：产业周跟踪，新能源车金九交付亮眼，工控有望受益于经济持续复苏预期

Investment Rating - The report maintains a "Strongly Outperform Market" rating for the electric power equipment and new energy industry [2] Core Views - The report highlights the bright delivery performance of new energy vehicles in September, with a seasonal boost leading to price rebounds in certain segments [2] - The initial anti-subsidy tax rates for photovoltaic products from Southeast Asian countries are better than market expectations, with component production expected to increase in October [2] - The offshore wind power sector is seeing an increase in bidding activity, suggesting current layout opportunities [2] - The energy storage sector in the U.S. continues to grow significantly, while Germany's energy storage installations have declined year-on-year [2] - The electric power equipment and industrial control sector is experiencing rapid development in transmission networks, with a significant improvement in PMI [2] - The hydrogen energy sector is being further promoted by the National Development and Reform Commission, with increasing overseas market demand [2] Summary by Sections 1. New Energy Vehicles and Lithium Battery Sector - September saw impressive delivery numbers from various automakers, with Xpeng delivering 21,400 units (up 39% YoY), Li Auto 53,700 units (up 49% YoY), and BYD delivering 417,600 units (up 45% YoY) [10][11] - Lithium material prices have rebounded slightly due to pre-holiday stocking and low-price buying [11] 2. Photovoltaic Sector - The U.S. has announced initial anti-subsidy tax rates for photovoltaic products from Southeast Asia, with rates ranging from less than 1% to nearly 300% [16][17] - Production of photovoltaic components is expected to increase in October, with a projected 8% month-on-month growth [18] 3. Wind Power Sector - The Guangdong 1.4GW offshore wind power project has begun bidding, and a project in Hebei is set to start construction by the end of October [23][24] - The report suggests focusing on layout opportunities in the offshore wind sector [25] 4. Energy Storage Sector - The U.S. energy storage market saw a significant increase in Q2 2024, with a total installed capacity of 3.011GW, a 74% YoY increase [27] - Germany's energy storage installations have decreased, with September seeing only 271MWh installed, a 50% YoY decline [28] 5. Electric Power Equipment and Industrial Control Sector - The total length of transmission lines in China has reached 2.425 million kilometers, with significant ongoing projects expected to enhance the national grid [32] - The PMI index has improved significantly, indicating a recovery in manufacturing demand [34] 6. Hydrogen Energy Sector - The National Development and Reform Commission is promoting the coupling of green hydrogen with coal chemical processes, with increasing overseas demand for hydrogen production equipment [42][43] - The report highlights the launch of hydrogen fuel cell vehicles and the growing market for hydrogen energy applications [42]