锂电池行业月报：销量高增长，短期适度关注

Investment Rating - The report maintains an investment rating of "Outperform the Market" for the lithium battery industry [1][6]. Core Insights - The lithium battery sector is experiencing significant sales growth, with December 2024 sales of new energy vehicles (NEVs) in China reaching 1.596 million units, a year-on-year increase of 34.01% and a month-on-month increase of 5.56% [6][15]. - The report highlights the importance of monitoring upstream raw material price trends, monthly sales, and the implementation of industry regulations in the short term [6]. - The overall industry outlook remains positive, with expectations for continued growth in the domestic and international NEV markets [6][15]. Summary by Sections Market Review - In December 2024, the lithium battery index fell by 12.78%, while the new energy vehicle index decreased by 5.13%, both underperforming the Shanghai and Shenzhen 300 index, which declined by only 0.32% [6][9]. - The report notes that 98 stocks in the lithium battery sector declined, with a median drop of 11.70% [9][10]. New Energy Vehicle Sales and Industry Prices - In December 2024, NEV sales in China accounted for 45.74% of total vehicle sales, marking a historical high for the month [15]. - The total NEV sales for 2024 reached 12.859 million units, a year-on-year increase of 36.10% [15]. - The report indicates that the price of battery-grade lithium carbonate was 75,500 CNY/ton, a decrease of 2.58% from early December 2024 [6][40]. Industry and Company News - The report mentions significant developments, including a joint venture between CATL and Stellantis to build a lithium iron phosphate battery factory in Spain, with an investment of 4.1 billion euros [52]. - The report also highlights the increase in public charging stations in China, with a total of 3.46 million reported by November 2024, reflecting a year-on-year growth of 31.8% [52].