东海证券：晨会纪要-20241113

Group 1: Key Recommendations - The solid-state battery route is basically confirmed, but the utilization rate of large-scale storage in China needs improvement. The battery and energy storage sector saw an overall increase of 8.31% in the week of November 4-10, outperforming the CSI 300 index by 2.81 percentage points [6][7] - The solid-state battery progress is steady, with sulfide routes confirmed. Nandu Power announced a solid-state battery energy density of 350Wh/kg and a cycle life of 2000 times, expected to complete acceptance by Q4 2024. The annual sales of new energy vehicles in 2024 are projected to reach 11.5 million units, a year-on-year increase of 20.0% [7][8] - The energy storage sector saw 15 new bidding projects this week, with a total scale of 3.00GW/7.44GWh. The average bidding price for energy storage EPC increased to 1.13 yuan/Wh, reflecting a positive trend [9][10] Group 2: Economic News - The Shanghai municipal government has deployed support for mergers and acquisitions of listed companies to enhance company quality and cultivate leading enterprises [18] - OPEC has lowered its global oil demand growth forecast for the next two years, with expected growth of 1.82 million barrels per day in 2024, down from a previous estimate of 1.93 million barrels per day [18] - The COP29 has approved key provisions of the Paris Agreement, marking the official launch of the global carbon market, which aims to reduce greenhouse gas emissions through international cooperation [19] Group 3: Market Data - As of November 12, 2024, the financing balance reached 183.11 billion yuan, with a net increase of 36.62 billion yuan. The one-year MLF rate is at 2%, and the one-year LPR is at 3.1% [26] - The Shanghai Composite Index closed at 3421.97 points, down 1.39%, while the ChiNext Index closed at 2390.80 points, down 0.07% [26]