新能源行业周报（第111期）：海外政策干扰带来布局机会，重视新技术、强周期

Investment Rating - The report maintains a positive outlook on the electric equipment and new energy sector, indicating a "Buy" strategy due to overseas policy disruptions creating layout opportunities and emphasizing new technologies and strong cycles [1]. Core Insights - The overall strategy for the industry suggests that short-term low expectations due to overseas policy changes present a counter-cyclical buying opportunity, particularly with recent adjustments in U.S. policies and domestic export tax changes [1][3]. - Key companies highlighted include CATL, Foster, and Putailai as core targets, while flexible targets include Haimeixing, Dier Laser, and Shangneng Electric [1]. - The report emphasizes the beginning of a new cycle in the mid-to-lower reaches of the new energy vehicle supply chain [1]. Summary by Sections New Energy Vehicles - The report indicates that loss-making segments are expected to recover, with a focus on price increases in certain areas such as copper foil, positive electrode materials, and electrolytes [4][15]. - Key beneficiaries identified include leading companies like Tesla, CATL, and Yiwei Lithium Energy, as well as innovative firms like Huawei and Xiaomi [5][16]. Photovoltaics - The report notes a reduction in export tax rates for certain photovoltaic products, which may benefit overseas production capacity. The export tax rate has been adjusted from 13% to 9%, increasing costs for domestic producers but potentially enhancing profitability for overseas capacity [5][16]. - Integrated companies such as Longi Green Energy and JinkoSolar are highlighted as key players, along with supporting firms like Foster and Sungrow Power [5][16]. Wind Power - Wind turbine bidding has seen significant growth, reaching a historical high with a total of 112.06 GW bid in the first ten months of 2024, representing a year-on-year increase of 110.71% [6][17]. - The average price for onshore wind turbines has stabilized between 1300-1400 RMB/KW, indicating a recovery in profit margins for turbine manufacturers [6][17]. - Investment recommendations include companies involved in offshore wind projects and turbine manufacturing, such as Goldwind Technology and Sany Heavy Energy [6][19].