电气设备行业周报：10月新能源汽车销量保持快速增长

Investment Rating - The report maintains an "Outperform" rating for the electrical equipment industry [2] Core Insights - The report highlights that the monthly sales of new energy vehicles (NEVs) reached a historical high in October, with production and sales completing 1.463 million and 1.43 million units respectively, representing year-on-year growth of 48% and 49.6% [4][18] - The domestic sales of NEVs were 1.302 million units, showing a month-on-month increase of 10.7% and a year-on-year increase of 56.5% [4][18] - The report emphasizes the significant advantage of lithium iron phosphate (LFP) battery installations, with LFP battery production reaching 89.5 GWh in October, accounting for 79.1% of total production [5][19] Summary by Sections 1. New Energy Vehicles - October saw NEV production and sales reach 1.479 million and 1.43 million units, with year-on-year increases of 48% and 49.6% respectively [4][18] - From January to October, NEV production and sales totaled 9.779 million and 9.75 million units, with year-on-year growth of 33% and 33.9% [4][18] 2. New Energy Generation - The report recommends focusing on the photovoltaic sector, highlighting key players such as JinkoSolar, LONGi Green Energy, and Trina Solar [6][50] - It also suggests monitoring companies involved in new battery technologies and inverter leaders like Sungrow Power and GoodWe [6][50] 3. Industrial Control and Power Equipment - The report advises paying close attention to the energy storage segment, recommending companies like New Energy and State Grid [6][50] - It notes that the total installed power generation capacity in China reached approximately 3.19 billion kilowatts by the end of October, reflecting a year-on-year growth of 14.5% [59] 4. Market Performance - The electrical equipment and new energy sectors experienced a decline of 1.9% over the past week, outperforming the CSI 300 index by 0.70 percentage points [60] - The report lists the top gainers and losers in the sector, with notable increases for companies like Aote Xun and Keda Technology [64]