新能源汽车行业周报：三季报密集落地，优质资产表现韧性十足

Investment Rating - The report maintains a "Recommended" investment rating for the new energy vehicle industry [2] Core Views - Demand is strong, and quality assets exhibit high cost-effectiveness. In September 2024, production and sales of new energy vehicles reached 1.307 million and 1.287 million units, respectively, representing year-on-year increases of 48.8% and 42.3%. From January to September 2024, production and sales totaled 8.316 million and 8.32 million units, with year-on-year growth of 31.7% and 32.5% [1][37] - The industry is supported by strong policy backing and the continuous launch of quality models, such as NIO's L60 and XPeng's M03, which have received positive market feedback. CATL's "Xiaoyao" super hybrid battery has been officially released, set to be used in over 30 models from brands like Avita, Li Auto, and others, driving demand through ongoing technological iterations [1][2] - The report highlights the impressive performance of core companies like CATL and EVE Energy in their third-quarter results, particularly in the energy storage business, showcasing overall resilience [1] Summary by Sections Market Review - The new energy vehicle index, lithium battery index, fuel cell index, charging pile index, and energy storage index experienced weekly changes of +5.17%, +8.99%, +4.94%, +6.16%, and +7.48%, respectively. The top five gainers in the lithium battery index included Tianhong Lithium (50%), Far East Holdings (35%), and Haike New Energy (33%) [3][20] Industry Dynamics - Lithium prices have seen a decline, with carbonate lithium priced at 73,200 CNY/ton, down 0.6% from the previous week. Hydroxide lithium is priced at 67,100 CNY/ton, down 1.1%. LME nickel is at 15,900 USD/ton, down 5.1%. Cobalt prices remain stable at 182,000 CNY/ton, while phosphate iron lithium prices are stable at 32,900 CNY/ton [4][25] Key Company Announcements - Companies such as Shantou Technology and EVE Energy have released their third-quarter reports, indicating strong performance [5] Focus Companies and Earnings Forecast - Key companies with buy ratings include EVE Energy (EPS 2024E: 2.27), CATL (EPS 2024E: 11.62), and Shantou Technology (EPS 2024E: 2.89) [6][8]