锂电产业链双周评（12月第1期）：钠电、固态电池等新技术蓬勃发展，电池企业海外布局加速推进

Investment Rating - The report maintains an "Outperform" rating for the lithium battery industry [2] Core Insights - The battery industry is accelerating its overseas expansion, with companies like CATL and Guoxuan High-Tech announcing new battery factories in Spain and Morocco [4] - Continuous product iteration is evident, with companies launching advanced battery technologies, including high-capacity and high-power batteries [5] - New technologies such as sodium batteries and solid-state batteries are rapidly developing, with several strategic partnerships formed to enhance material development [5][26] Industry Dynamics - Domestic new energy vehicle sales reached 1.512 million units in November, a year-on-year increase of 47% and a month-on-month increase of 6% [6] - In Europe, new energy vehicle sales in November were 205,300 units, a year-on-year decrease of 3% but a month-on-month increase of 9% [6] - In the U.S., new energy vehicle sales in November were 145,700 units, a year-on-year increase of 19% [6] Lithium Battery Material and Price Trends - Lithium carbonate prices have slightly decreased to 76,400 CNY per ton, with battery cell prices also showing a downward trend [7] - The prices for various battery cells have decreased, with square ternary power cells priced at 0.413 CNY/Wh [7] Investment Recommendations - Focus on leading companies in the energy storage battery sector (e.g., CATL, EVE Energy) and those with solid-state battery material capabilities (e.g., Xiamen Tungsten, Rongbai Technology) [8] - Monitor consumer battery companies with recovering demand (e.g., Zhuhai Guanyu) and leading companies in the charging pile sector (e.g., Teradyne, Shenghong) [8] Market Performance Review - The lithium battery sector has seen a 1.3% increase over the past two weeks, while the battery chemicals sector has decreased by 5.6% [11] - Key stock movements include CATL (+0.2%) and EVE Energy (-4.5%) [11]