电新周报：华为具身智能产业创业中心成立，人形机器人产业化有望加速电力设备与新能源

Investment Rating - The report maintains a "Positive" investment rating for the industry, consistent with the previous rating [3]. Core Insights - The establishment of Huawei's Embodied Intelligence Industry Innovation Center is expected to accelerate the industrialization of humanoid robots, indicating a significant shift towards automation in manufacturing [4]. - The report highlights an optimistic outlook for the power equipment and new energy sectors, particularly in the context of electric vehicle (EV) battery supply chain improvements and the anticipated recovery in profitability [3][4]. - The demand for energy storage is projected to maintain high growth, with significant increases in installed capacity expected in 2024 [4]. Summary by Sections New Energy Vehicles - The lithium battery sector is expected to see an optimization in its structure, with a potential turning point in the oversupply issue. The price of lithium carbonate is declining, which may lead to lower battery costs and stimulate downstream demand [3]. - In October 2024, sales of new energy vehicles reached 1.287 million units, a year-on-year increase of 42.4% and a month-on-month increase of 17% [10][13]. Power Equipment and Energy Storage - The report anticipates a significant increase in grid investment in 2024, with the total investment expected to exceed 500 billion yuan. This is driven by the growing demand for power equipment due to the rapid development of new energy sources [4]. - The large-scale energy storage market is expected to continue its high growth trajectory, with an estimated new installed capacity of approximately 22.6 million kilowatts in 2023, representing a growth of over 260% compared to the end of 2022 [4]. Photovoltaics - The report notes sustained high demand in Europe and robust domestic demand for ground-mounted solar power stations. The industry is expected to benefit from cost reductions and new technology iterations, such as the large-scale production of TOPCON technology [4]. Wind Power - The report indicates a positive outlook for offshore wind power construction, with significant projects planned across various provinces, totaling approximately 53.7 GW of potential installed capacity [4][17]. Industrial Automation and Humanoid Robots - The report emphasizes the trend towards automation in factories, with Huawei's new center expected to enhance the industrialization of humanoid robots, thereby improving operational efficiency [4]. Low-altitude Economy - The report highlights the acceleration of low-altitude infrastructure development, with plans to establish over 1,200 low-altitude takeoff and landing points in Shenzhen by 2026, covering various applications [4]. Investment Recommendations - The report suggests focusing on companies such as CATL, BYD, and various energy storage and power equipment firms, indicating a broad range of investment opportunities within the sector [4].