新能源行业周报（第120期）：铁锂、智能化、深远海等结构性机会明显，重视光伏大底部

Investment Rating - The report maintains a positive outlook on the power equipment and new energy sector [1] Core Insights - Structural opportunities in iron lithium, smart technology, and deep-sea projects are evident, with a focus on the photovoltaic industry's bottoming out [4] - The next three years will see an upward cycle in new energy, differing significantly from previous cycles due to industry upgrades that will widen the gap between leading companies [4] - Companies leading in new technologies and markets are expected to continue benefiting, with lithium and silicon upstream reaching critical points [4] Summary by Sections New Energy Vehicles - The supply-demand structure for iron lithium materials is improving, with a projected total production of 2.38 million tons of lithium iron phosphate in 2024, a year-on-year increase of 50.2% [5][20] - The demand for iron lithium is expected to continue exceeding expectations due to high growth in large storage needs in Europe and the Middle East [5][20] - The electric vehicle sector is undergoing structural upgrades, with sales in China expected to exceed 12.866 million units in 2024, a year-on-year increase of 35.5% [5][21] Photovoltaic Industry - Silicon wafer prices are on the rise, driven by good inventory reduction and tight supply-demand conditions [6][12] - Major companies have announced significant losses for 2024, but with expectations of a price reversal in 2025, industry profitability is anticipated to recover [6][12] Wind Power Industry - The 7GW provincial project in Liaoning has initiated competitive bidding, with construction expected between 2026 and 2027 [7][23] - There are positive developments in deep-sea wind projects, with several provinces releasing clear plans, and national-level planning expected to promote standardized development [7][15][24]