光伏行业月度报告：10月国内光伏新增装机同增49.9%，逆变器出口额同比增长17.0%

Investment Rating - The report gives a "Buy" rating for Aikang Co., Ltd. (爱旭股份) with a rating of "Buy-B" [1] Core Viewpoints - The solar power generation in October saw a year-on-year increase of 12.6%, with a total generation of 32.3 billion kWh, accounting for 4.42% of the total industrial power generation in China [1][49] - The report highlights a significant increase in domestic photovoltaic (PV) installations, with October's new installations reaching 20.4 GW, a year-on-year growth of 49.9% [3][20] - The report emphasizes the importance of key companies in the solar energy sector, recommending Aikang Co., Ltd. and Longi Green Energy as leaders in the photovoltaic storage market, while also suggesting to pay attention to other companies like GCL-Poly Energy, Tongwei Co., Ltd., and others [1][53] Summary by Sections 1. Installation - In October, domestic photovoltaic new installations increased by 49.9% year-on-year, totaling 20.4 GW, while cumulative installations from January to October reached 181.3 GW, up 27.2% year-on-year [3][20] 2. Exports - In October, the export value of PV components was 15.33 billion yuan, down 20.5% year-on-year but up 6.7% month-on-month. Cumulative exports from January to October totaled 190.86 billion yuan, down 29.5% year-on-year [4][20] - The inverter export value in October was 4.66 billion yuan, up 17.0% year-on-year, with cumulative exports from January to October at 49.71 billion yuan, down 19.0% year-on-year [31][20] 3. Solar Power Generation - The solar power generation in October was 32.3 billion kWh, reflecting a year-on-year growth of 12.6%, contributing to 4.42% of the total power generation in China [49][20] 4. Investment Recommendations - The report recommends focusing on leading companies in the solar energy sector, including Aikang Co., Ltd. and Longi Green Energy, while also suggesting to monitor other companies in the industry [1][53]