新能源行业周报（第105期）：电动车产业链超预期，重视光伏底部

Investment Rating - The report maintains a positive outlook on the electric power equipment and new energy sector [1] Core Viewpoints - The electric vehicle supply chain is exceeding expectations, with a focus on the bottoming out of the photovoltaic sector [1][3] - The report highlights that the new energy vehicle industry is entering a new cycle, with significant sales growth observed in September [3][15] - The photovoltaic industry is expected to see a mid-term bottom soon, with a focus on leading companies in inverters and auxiliary materials [3][5] Summary by Sections New Energy Vehicles - In September, the top ten new energy vehicle companies delivered a total of 660,000 units, representing a year-on-year increase of 43% and a month-on-month increase of 12% [3][15] - Notable performers include Xiaopeng with a 52% month-on-month increase and Zeekr with an 18% increase [3][15] - Xiaomi's SU7 exceeded 10,000 units in deliveries in September, with a target of over 20,000 units in October [3][15] - Key beneficiaries in the supply chain include leading companies such as CATL, Yiwei Lithium Energy, and others [3][16] Photovoltaic Industry - As of August 2024, cumulative new photovoltaic installations reached 139.99 GW, a year-on-year increase of 23.71% [3][15] - In August alone, new installations were 16.46 GW, showing a month-on-month decrease of 21.81% [3][15] - The report indicates that short-term demand fluctuations may accelerate the reshaping of supply and demand dynamics [3][15] - Key players in the integrated photovoltaic sector include LONGi Green Energy, JinkoSolar, and others [5][16] Wind Power - The report notes an acceleration in offshore wind project bidding, with an expected annual bidding volume of around 10 GW [5][18] - Recent bids include multiple offshore wind projects totaling 1.4 GW, with significant capacity planned for 2025 [5][18] - Investment recommendations focus on companies involved in offshore wind cable production and turbine manufacturing [5][19]