电池及储能行业周报：电车产销再创新高，储能市场持续景气

Investment Rating - The report maintains a "Market Perform" rating for the battery and energy storage sectors [3]. Core Insights - The electric vehicle (EV) market is experiencing significant growth, with November 2024 production and sales reaching 1.566 million and 1.512 million units, respectively, marking year-on-year increases of 45.8% and 47.4% [4][27]. - The energy storage market is also showing high growth, with cumulative installations reaching 23.42 GW/58.86 GWh by October 2024, representing a year-on-year increase of 118% [6][31]. Summary by Sections Battery Sector - Market Performance: The battery sector saw a decline of 1.72% in the week of December 9-15, 2024, underperforming the CSI 300 index by 0.72 percentage points [36]. - Production and Sales Growth: The domestic EV market is expected to reach 12.5 million units in total sales for 2024, with a year-on-year growth of over 30% [4][27]. - Supply Chain Adjustments: The supply side is adjusting with stable prices for lithium salts and other materials, although some materials are still experiencing price fluctuations [28][29]. Energy Storage Sector - Tender Projects: In the week ending December 13, 2024, there were 11 new tender projects and 15 awarded projects in the energy storage market, with a total scale of 3.21 GW/22.52 GWh [30][56]. - Market Growth: The energy storage market is maintaining a high growth rate, with new installations in October 2024 showing a year-on-year increase of 236% [31]. - Market Dynamics: The commercial energy storage market is lagging behind expectations, with new installations showing a decline due to tightening policy environments [31][32]. Recommended Companies - Contemporary Amperex Technology Co., Limited (CATL): Expected to ship 480 GWh in 2024 with an estimated profit of approximately 50.5 billion yuan [5][29]. - Sungrow Power Supply Co., Ltd.: The company has achieved a full industry chain layout in energy storage and is leading in inverter shipments [34].