电新：宁德时代发布“骁遥”超级增混电池

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The electric power equipment and new energy sector has shown significant growth, with the electric new index rising by 8.21% from October 18 to 25, 2024, ranking second among industries [1] - The industry is currently at a historical low valuation, with a price-to-earnings ratio (TTM) of 38.83, which is 36.67% of its 10-year historical valuation percentile [1][15][17] - The lithium carbonate price has decreased to 73,200 CNY/ton, reflecting a decline of 0.65% [1][24] Market Review - The Shanghai and Shenzhen 300 index increased by 0.79%, while the ChiNext index rose by 2.00% during the same period [1] - The solar, wind, and comprehensive energy equipment sectors experienced substantial gains, with increases of 18.41%, 17.55%, and 15.28% respectively [1] Valuation Analysis - As of October 25, 2024, the electric power equipment and new energy industry (CI) has a TTM price-to-earnings ratio of 38.83, which is at a historical low [15][17] - The sub-industries' price-to-earnings ratios are as follows: grid (25.64), energy storage (66.91), solar (104.02), new energy vehicles (31.58), and wind (47.18) [15][17] Industry Data Tracking - The lithium carbonate price has shown a downward trend, with the latest price at 73,200 CNY/ton, down 0.65% [1][24] - The solar industry is entering a down cycle, with prices for key materials such as silicon and solar cells remaining stable or declining slightly [1][22][24] Key News Tracking - Guangxi Power Grid has invested over 56.5 billion CNY to advance power grid construction [2] - The Ministry of Industry and Information Technology has released a digital transformation implementation plan for the power equipment manufacturing industry [2] - A significant offshore wind power project of 1 GW is set to commence construction [2] Key Announcements Tracking - Several companies, including Wenkang New Energy and Tianqi Lithium, have released their third-quarter reports [2] - Pioneering companies in the sector are expected to benefit from the ongoing digital transformation and investment in renewable energy projects [2]