锂电池行业月报：销量持续高增长，板块持续关注

Investment Rating - The report maintains an "Outperform" investment rating for the lithium battery industry [3]. Core Views - The lithium battery sector is experiencing sustained high growth in sales, with a strong performance relative to the CSI 300 index, driven by macro policy developments and market style changes [3][6]. - The overall industry outlook remains positive, with a focus on monitoring upstream raw material prices, monthly sales, and the implementation of industry regulations [3]. - The domestic and international development prospects for the new energy vehicle industry are confirmed, making the sector worthy of close attention [3]. Summary by Sections 1. Market Review - In November 2024, the lithium battery index rose by 14.23%, outperforming the CSI 300 index, which increased by only 0.68% [6][19]. - The number of stocks in the lithium battery sector that increased in November was 85, while 20 stocks decreased, with a median increase of 6.74% [19]. 2. New Energy Vehicle Sales and Industry Prices - In November 2024, China's new energy vehicle sales reached 1.512 million units, a year-on-year increase of 47.37% [26]. - The cumulative sales of new energy vehicles in China for 2024 reached 11.263 million units, a year-on-year increase of 36.40% [26]. - The price of battery-grade lithium carbonate was 76,000 yuan/ton as of December 11, 2024, reflecting a 2.70% increase from early November [7][58]. 3. Industry and Company News - The report highlights the performance of key players in the lithium battery sector, including CATL and BYD, which continue to dominate the market in terms of battery installation and sales [57]. - The report emphasizes the importance of monitoring the performance of upstream raw materials and the overall market dynamics affecting the lithium battery industry [3][7]. 4. Financial Overview of Relevant Companies - The report provides insights into the financial performance of companies involved in the lithium battery supply chain, noting significant fluctuations in stock prices and market performance [21][22]. 5. Investment Ratings and Main Lines - The report suggests that investors should focus on leading companies in specific segments of the lithium battery industry, as individual stock performance is expected to diverge [3].