电池及储能行业周报：电车销量表现优异，储能市场持续景气

Investment Rating - The report maintains a standard rating for the electric equipment and new energy sector, indicating a positive outlook for the industry as a whole. Core Insights - The battery sector is experiencing a stable price trend due to orderly adjustments on the supply side, with lithium salt prices fluctuating and remaining under negotiation [20][31]. - The energy storage market continues to show strong demand, with significant project bidding and winning activity, indicating a robust growth trajectory [22][50]. Summary by Sections 1. Investment Highlights - Battery Sector: - Electric vehicle sales are expected to reach 1.4 million units in December, with a penetration rate of approximately 51.9%. The total sales for 2024 are projected to be 12.5 million units, representing a year-on-year growth of over 30% [5][19]. - Supply-side adjustments are leading to price stabilization across various materials, including lithium salts and cathode materials [20][31]. - Energy Storage Sector: - The energy storage market remains vibrant, with 20 new bidding projects and 11 winning projects reported, totaling 7.19 GW/16.40 GWh in capacity [22][50]. - The domestic energy storage market has completed a total of 43.74 GW/149.71 GWh in procurement from January to November, with prices for energy storage systems hitting record lows [23][50]. 2. Market Performance - The battery sector saw an overall decline of 1.15% in the week of December 23-29, underperforming the CSI 300 index by 2.50 percentage points [34]. - Major inflows were observed in companies like Shanghai Electric and Jinpan Technology, while significant outflows were noted for CATL and Sunshine Power [34][29]. 3. Industry Data Tracking - Lithium Battery Supply Chain: - Prices for industrial-grade lithium carbonate and battery-grade lithium carbonate were reported at 71,900 CNY/ton and 76,400 CNY/ton, respectively [31]. - The average bidding price for energy storage EPC projects increased by 39.2% to approximately 1.33 CNY/Wh, while the average price for energy storage systems rose by 19.9% to about 0.64 CNY/Wh [50]. - Material Prices: - The prices for various battery materials, including cathode and anode materials, have shown stability, with specific prices reported for lithium iron phosphate and graphite materials [36][37].