山西证券：研究早观点-20241112

Group 1: Market Trends - The new materials sector index increased by 8.55%, underperforming the ChiNext index by 0.77% [12] - The synthetic biology index rose by 4.54%, semiconductor materials by 7.58%, electronic chemicals by 6.87%, biodegradable plastics by 5.96%, industrial gases by 7.30%, and battery chemicals by 10.96% [12] Group 2: New Energy Law Impact - The "Energy Law of the People's Republic of China" was passed on November 8, emphasizing green and low-carbon transformation, promoting wind energy development, and accelerating offshore wind power construction [13][15] - The domestic wind power installed capacity reached 12.84 GW in Q3 2024, a year-on-year increase of 16.73% and a quarter-on-quarter increase of 27.51% [13] Group 3: Automotive Industry Insights - In September 2024, automobile sales reached 2.809 million units, a month-on-month increase of 14.5% and a year-on-year decrease of 1.7% [28] - The penetration rate of new energy vehicles significantly increased, surpassing 50% in July and reaching 53% in September [28][29] - BYD's sales in October 2024 were 503,000 units, a month-on-month increase of 19.8% and a year-on-year increase of 66.5% [30] Group 4: Textile and Apparel Sector - China's textile and apparel exports increased by 11.9% year-on-year in October [32] - Puma's FY24 Q3 revenue was €2.308 billion, a slight year-on-year decline of 0.1%, but a 5.0% increase on a currency-neutral basis [33]