电力设备新能源行业周报：六市开展eVTOL试点，沙特、美洲逆变器增速亮眼

Investment Rating - The industry rating is "Positive" (maintained) [7] Core Insights - The eVTOL pilot program is set to launch in six cities, including Hefei, Hangzhou, Shenzhen, Suzhou, Chengdu, and Chongqing, indicating a significant step in the low-altitude economy [19] - The photovoltaic industry is at a turning point, with prices stabilizing at the bottom and expectations for improved profitability as lower-tier companies exit the market [23] - The wind power sector is seeing accelerated project developments, highlighted by the successful bid of Dongfang Cable for a significant underwater cable project [27] - The new energy storage sector is being promoted for high-quality development, with the Ministry of Industry and Information Technology aiming to match supply and demand by 2027 [35] - The hydrogen energy industry is focusing on establishing a regional hub in Panzhihua, aiming to become a key player in China's hydrogen economy [41] Summary by Sections 1. New Energy Vehicles and Low-altitude Economy - The eVTOL pilot program will commence in six cities, with urban sightseeing expected to be the first commercial application [19] - Key companies to watch include those involved in low-altitude infrastructure, manufacturing, and operations [20] 2. New Energy Generation (1) Photovoltaics - The industry is expected to see a profitability turning point as price stabilization occurs and lower-tier companies exit [23] - Key data indicates that the average price of polysilicon is around 40.0 CNY/KG, with prices for N-type silicon wafers and TOPCon battery cells remaining stable or increasing [22] (2) Wind Power - Dongfang Cable secured a major contract for ±500kV underwater cables, valued at approximately 15.14 billion CNY, which will enhance offshore wind power development [27] - Additional contracts in Guangdong, Zhejiang, and Fujian further solidify the company's market position [28] 3. Power Equipment and Industrial Control - The State Grid's recent tender results for power transmission and transformation equipment totaled 10.348 billion CNY, indicating strong investment opportunities in grid equipment [31] - Major companies like China West Electric and Pinggao Electric have secured significant contracts [32] 4. Energy Storage - In October 2024, inverter exports reached 659 million USD, with notable growth in markets like Saudi Arabia and North America [36] - The focus is on large-scale storage solutions and household storage systems, with key players identified for investment [38] 5. Hydrogen Energy - The Panzhihua hydrogen industry investment promotion conference aims to establish a regional hydrogen energy center [41] - The International Hydrogen Fuel Cell Association participated in COP29, promoting global cooperation in hydrogen technology [43]