电池及储能行业周报：2024年电车销量优异，储能系统报价趋稳

Investment Rating - The report maintains a standard rating for the power equipment and new energy industry, indicating a stable outlook for investment opportunities in this sector [8]. Core Insights - The report highlights the robust performance of the electric vehicle (EV) market, with a forecasted total sales of 12.5 million units in 2024, representing a year-on-year growth of over 30% [4][16]. - The supply side of the industry is undergoing orderly adjustments, leading to price stabilization across various components, including lithium salts and battery materials [17][29]. - The energy storage sector is expected to maintain strong demand, with a projected completion of 59.24 GW/191.26 GWh in 2024, primarily driven by lithium iron phosphate (LFP) technology [20][47]. Summary by Sections 1. Investment Highlights - Battery Sector: - December saw a wholesale sales volume of 1.5 million new energy passenger vehicles, a 35% year-on-year increase and a 5% month-on-month increase [4][16]. - The industry is expected to benefit from the early Chinese New Year, balancing sales between December 2024 and January 2025 [4][16]. - The supply side is adjusting, with lithium carbonate prices fluctuating and remaining at the breakeven point for some materials [17][29]. - Energy Storage Sector: - A total of 17 new bidding projects were announced, with 9 projects awarded, amounting to a total scale of 4.23 GW/16.57 GWh [19][47]. - The average bidding price for energy storage systems is stabilizing around 0.4 to 0.5 yuan/Wh, with significant policy support expected to drive market growth [20][47]. 2. Market Review - The battery sector experienced an overall decline of 5.11% in the week of December 30 to January 5, slightly outperforming the CSI 300 index [25][26]. - Major inflows were observed in stocks like Xiongtao Co. and Deyang Co., while significant outflows were noted for companies such as Contemporary Amperex Technology Co. and Nandu Power [25][27]. 3. Industry Data Tracking - Lithium Battery Supply Chain Prices: - Prices for lithium carbonate and battery-grade lithium carbonate were reported at 71,800 yuan/ton and 75,900 yuan/ton, respectively [29]. - The price of LFP batteries is stable at approximately 33,700 yuan/ton, while the price of graphite anode materials remains close to cost levels [29][46]. - Energy Storage Project Bidding: - The average bidding price for energy storage EPC projects increased by 21.9% to approximately 1.62 yuan/Wh, indicating a growing market for energy storage solutions [47][53].