电力设备行业周报：多晶硅期货计划近期上市交易，宁德时代发布合资建厂及特别分红公告

Investment Rating - The report maintains a "Buy" rating for companies such as GCL-Poly Energy, Tianjun Wind Power, and CATL, while Foster is rated as "Hold" [8]. Core Insights - The introduction of polysilicon futures trading is expected to enhance price management and market pricing power for polysilicon products starting December 26, 2024 [20]. - The industry is witnessing accelerated production cuts, particularly in the silicon wafer segment, which is expected to lead to inventory depletion and price recovery by the end of December [20][22]. - The report highlights significant opportunities in the photovoltaic supply chain, particularly for polysilicon and glass, with recommended companies including GCL-Poly Energy, Tongwei Co., and FLAT [22]. - In the wind power and grid sectors, the approval of offshore wind projects and increased demand for high-voltage cables are noted, with key companies like Pinggao Electric and XJ Electric expected to benefit from upcoming tenders [23][25]. - The hydrogen energy sector is seeing new developments, such as the commencement of a 50,000 Nm³ cavern hydrogen storage system by MCC Wukan, with recommended companies including LONGi Green Energy and Sungrow Power [27]. - The energy storage market is experiencing competitive bidding, with average project prices ranging from 0.878 to 1.079 RMB/Wh, and companies like Sungrow Power and SNEC are highlighted as key players [28][38]. - In the electric vehicle sector, CATL announced a joint venture with Stellantis to build a lithium iron phosphate battery factory in Spain, with a planned capacity of 50 GWh by the end of 2026 [39][42]. Summary by Sections 1. Market Review - The electric power equipment sector saw a decline of 1.7% from December 9 to December 13, 2024, with a year-to-date increase of 9.8% [15]. 2. Core Views of the Week 2.1 New Energy Generation - Photovoltaics: The report emphasizes the upcoming launch of polysilicon futures and the expected recovery in prices due to inventory depletion [20][22]. - Wind Power & Grid: The approval of significant offshore wind projects and tenders for high-voltage equipment are expected to drive growth for key players [23][25]. - Hydrogen & Energy Storage: New hydrogen storage projects and competitive bidding in energy storage are highlighted, with specific companies recommended for investment [27][28]. 2.2 New Energy Vehicles - CATL's joint venture with Stellantis for a new battery factory in Spain is a significant development, enhancing its market position in Europe [39][42].