锂电行业周报：海博思创IPO过会，看好行业稳健发展

Investment Rating - The industry investment rating is "Increase" (maintained) [4] Core Viewpoints - The successful IPO of Beijing Haibo Sichuang Technology Co., Ltd. indicates further recognition of energy storage system integrators in the capital market, and the industry is expected to develop steadily [4][10] - In 2023, Haibo Sichuang's revenue was approximately 6.98 billion yuan, with a net profit of about 560 million yuan [4][10] Data Tracking - Downstream Demand: In August 2024, China's new energy vehicle sales reached 1.1 million units, with a month-on-month growth of +11% and a year-on-year growth of +30% [12] - Energy Storage Demand: In August 2024, China's new energy storage added power capacity was approximately 1.9 GW, a year-on-year increase of +80%, with an energy scale of about 4.7 GWh, a year-on-year increase of +108% [14] - Battery Production: In September 2024, China's lithium battery production was 120.1 GWh, a year-on-year increase of +40% and a month-on-month increase of +8% [16] - Material Production: In September 2024, China's ternary cathode production was 57,000 tons (year-on-year +3%, month-on-month -7%), LFP cathode materials were 251,000 tons (year-on-year +97%, month-on-month +19%), and anode production was 171,000 tons (year-on-year +11%, month-on-month +12%) [18][19] - Separator Production: In September 2024, China's separator production was 1.93 billion square meters (year-on-year +43%, month-on-month +8%) [21] - Electrolyte Production: In September 2024, China's electrolyte production was 142,000 tons (year-on-year +33%, month-on-month +15%) [23] - Price Trends: As of October 18, 2024, the prices in the industry chain are as follows: battery-grade lithium carbonate at 74,000 yuan/ton, LFP (power type) at 33,000 yuan/ton, and 523 square ternary cells at 0.42 yuan/Wh [25] Investment Recommendations - The report suggests focusing on three main lines for investment opportunities in the lithium battery sector: 1) Leading companies in various segments: CATL, Yiwei Lithium Energy, Defang Nano, Hunan Youneng, Rongbai Technology, and others [4] 2) New technologies and materials: Xinde New Materials, Tiannai Technology, Heimao Co., Ltd. [4] 3) Solid-state battery-related companies: Guansheng Co., Ltd., Jinlongyu [4]