新能源汽车产业链行业周报：华为公布硫化物电池专利，亿纬锂能可转债获批

Investment Rating - The report maintains a "Positive" investment rating for the new energy vehicle industry chain [1]. Core Viewpoints - The demand for new energy vehicles continues to grow, with sales in China reaching 8.32 million units from January to September 2024, a year-on-year increase of 33%. The installed capacity of power batteries also saw a 36% increase, totaling 346.6 GWh [4][12]. - The overall profitability trend is stabilizing and slightly improving, with upstream lithium resources and downstream batteries showing significant recovery. However, midstream materials are still affected by the impairment of lithium carbonate [4][12][13]. - The lithium battery industry is entering a phase of sustained profitability improvement, supported by resource price stabilization, industry consolidation, and improved product structure [4][13]. Summary by Sections Industry Investment Rating - The report maintains a "Positive" rating for the new energy vehicle industry chain, indicating expected strong performance relative to market benchmarks [1]. Key Industry Developments - Huawei announced a patent for sulfide solid-state batteries, which could enhance battery stability and lifespan [14]. - EVE Energy is planning to establish a cylindrical battery production capacity of 30 GWh per year in Hungary, with the project expected to be completed by 2027 [16]. Battery Material Prices - The report provides a detailed tracking of battery material prices, noting the following: - Cobalt products: Electrolytic cobalt at 176,500 CNY/ton, a 0.86% increase; Sulfuric cobalt at 28,000 CNY/ton, a 0.72% decrease [3][25]. - Lithium products: Lithium carbonate at 75,000 CNY/ton, a 1.49% increase; Lithium hydroxide at 67,000 CNY/ton, unchanged [3][25]. - Nickel products: Electrolytic nickel at 127,000 CNY/ton, a 2.70% increase [3][25]. Investment Recommendations - The report suggests focusing on companies such as CATL (300750, Buy), EVE Energy (300014, Not Rated), and others in the charging infrastructure and solid-state battery sectors [4][13].