需求强劲，产业链供需格局持续优化

Investment Rating - The report maintains a "Recommended" investment rating for the new energy vehicle industry [3]. Core Insights - Strong demand and high cost-performance of quality assets are highlighted, with October production and sales of new energy vehicles reaching 1.463 million and 1.43 million units, respectively, marking year-on-year growth of 48% and 49.6% [2]. - The report emphasizes the ongoing optimization of the supply-demand structure, with expectations for improved profitability in the industry chain throughout 2024 [3]. - Key companies such as CATL and EVE Energy are noted for their strong performance in energy storage, while material companies like Shantai Technology and Zhongke Electric have shown robust third-quarter results [2][3]. Summary by Sections Market Tracking - The new energy vehicle index, lithium battery index, and other related indices have shown varied performance, with the new energy vehicle index increasing by 11.87% year-to-date [27]. - Notable stock performances include companies like Mengguli and Wanrun New Energy, which saw increases of 23.0% and 14.0%, respectively [32]. Lithium Battery Industry Price Tracking - Lithium prices have shown fluctuations, with lithium carbonate priced at 78,200 CNY/ton, down 1.1% from the previous week, while lithium hydroxide increased by 0.5% to 68,300 CNY/ton [41]. - The report notes that the overall price of materials in the industry chain is at a low point, making it easier for prices to rise in the future [2][3]. Production and Sales Data Tracking - Cumulative sales of electric vehicles in China reached 9.75 million units from January to October 2024, reflecting a year-on-year increase of 33.9% [58]. - In October alone, sales reached 1.43 million units, with a penetration rate of 46.8% [58]. Industry Dynamics - The report highlights the impact of policies such as the trade-in program, which is expected to further stimulate demand in the new energy vehicle sector [3]. - Companies like Tesla and Li Auto have announced interest-free promotions, indicating competitive strategies to boost sales [6].