电力设备及新能源行业动态跟踪：10月电新出口抵住回落，态势趋稳

Investment Rating - The report maintains a "Positive" investment rating for the electric equipment and new energy industry [11]. Core Viewpoints - The export situation for new energy in October shows signs of stabilization, awaiting subsequent demand recovery [11]. - In October, the export of components reached 15.3 billion RMB, a month-on-month increase of 7% but a year-on-year decrease of 21%. Cumulative exports from January to October totaled 190.9 billion RMB, down 29% year-on-year [11]. - Inverters saw exports of 4.7 billion RMB in October, a month-on-month decrease of 4% but a year-on-year increase of 17%. Cumulative exports for the year reached 49.7 billion RMB, down 19% year-on-year [11]. - Transformers had exports of 4.4 billion RMB in October, a month-on-month decrease of 2% but a year-on-year increase of 53%. Cumulative exports from January to October reached 37.6 billion RMB, up 30% year-on-year [11]. - Electric meters exported 0.96 billion RMB in October, remaining flat month-on-month and increasing 20% year-on-year. Cumulative exports for the year reached 9.3 billion RMB, up 11% year-on-year [11]. - Short-term disturbances have been removed, and data shows a warming trend due to improved transportation conditions and low base effects from the previous year [11]. - The industry maintains a solid export chain advantage, with expectations for a return to growth in demand from Europe and the U.S., as well as energy reform needs in developing countries [11]. Investment Recommendations and Targets - The report suggests focusing on the following companies: - Deye Technology (605117, Buy) - Sungrow Power (300274, Not Rated) - Shangen Electric (300827, Not Rated) - Hemai Technology (688032, Buy) - Samsung Medical (601567, Not Rated) - Haixing Electric (603556, Not Rated) - Jinpan Technology (688676, Buy) - Chint Electric (601877, Not Rated) [12].