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

Investment Rating - The report maintains a "Positive" investment rating for the electric power equipment and new energy sector, 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 anticipated recovery in the profitability of the lithium battery sector, driven by a potential turning point in the oversupply of lithium batteries and a decrease in lithium carbonate prices, which may lower battery costs and stimulate downstream demand [3][4]. - The report emphasizes the importance of the rapidly growing charging pile industry and related companies, as well as the ongoing advancements in new technologies such as composite current collectors [3]. Summary by Sections New Energy Vehicles - 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]. - The installed capacity of power batteries in October 2024 was 54.5 GWh, representing a year-on-year increase of 49.7% and a month-on-month increase of 15.5% [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, driven by the growing demand for power equipment both domestically and internationally [3]. - The report forecasts that the energy storage sector will maintain high growth in 2024, with large-scale energy storage installations expected to continue increasing due to the flexibility demands brought by new energy sources [3]. Photovoltaics - The report notes sustained high demand in Europe for photovoltaics, with domestic ground station demand remaining strong and emerging markets showing promising demand [4]. - The report highlights the anticipated acceleration of new technology iterations, such as TOPCON, which is expected to inject new momentum into the development of renewable energy [4]. Wind Power - The report indicates that the bidding environment for offshore wind turbines remains favorable, with significant potential for installation growth in 2024 and beyond [4][17]. - The report projects that the offshore wind sector will experience a rapid construction phase, with various provincial projects already outlined, indicating strong installation potential [4][17].