电新公用环保行业周报20241208：支持电力领域新型经营主体创新发展：利好虚拟电厂、微电网

Investment Rating - The report maintains a "Buy" rating for the electric power equipment and new energy sector [1] Core Viewpoints - The report highlights the support from the National Energy Administration for innovative development in the electric power sector, which benefits virtual power plants and microgrids [1] - It notes that lithium battery production data for December 2024 and January 2025 is promising, with strong overall demand expected in 2025 [1] - The domestic offshore wind projects are accelerating, with a recovery in bidding prices, indicating a positive trend for the wind power sector [1] - In the photovoltaic sector, supply-side self-discipline is expected to stabilize prices, with the industry entering a clearing cycle in 2025 [1] Summary by Sections Electric Power and New Energy - The report emphasizes the encouragement of new technologies and business models in the electric power sector, including support for virtual power plants and smart microgrid construction [1] - It identifies key companies to watch, including CATL, Hunan YN, and others in the new energy space [1] Lithium Battery - The report discusses the significant drop in lithium carbonate prices, with a current average of 76,900 CNY/ton, and notes the weak purchasing sentiment from downstream manufacturers [3] - It highlights the stable demand for lithium iron phosphate and the potential for price adjustments in processing fees after annual negotiations [3] Wind Power - The report mentions the recent progress in offshore wind projects, particularly the procurement results for the Fan Stone offshore wind project, indicating a recovery in wind turbine prices [13][14] - It provides data on new installed capacity for wind power, showing a 110% year-on-year increase for onshore wind and a 68% increase for offshore wind in 2023 [15] Photovoltaics - The report outlines the price stability across the photovoltaic supply chain, with ongoing pressures on profitability due to high operational costs [19][21] - It notes that the industry is facing severe operational pressures, with no profits reported across various segments as of December 4, 2024 [19][21] Public Utilities - The report provides insights into coal prices, with domestic coal prices at 818 CNY/ton, reflecting a slight decrease from the previous week [32]