新能源汽车产业链行业周报：2024全球动力电池装车量TOP10出炉，当升科技中伟股份达成战略合作

Investment Rating - The industry investment rating is maintained as "Positive" [7] Core Insights - The terminal sales performance is strong, with a projected 12-month sales volume of 12.865 million units for new energy vehicles in China, representing a year-on-year growth of 35%. The installed capacity of power batteries is expected to reach 548.4 GWh, a year-on-year increase of 41%. The demand for lithium batteries is anticipated to maintain strong growth momentum into 2025 [10][11] - The overall profitability trend is stabilizing and slightly improving. Both upstream lithium resources and downstream batteries have shown significant recovery. However, midstream materials are still affected by the impairment of lithium carbonate, particularly in ternary materials [10][11] - The upward trend in profitability remains unchanged, with many companies in the industry expected to have a PE valuation below 20 times in 2025, indicating investment value [11] Summary by Sections Weekly Insights - The demand for new energy vehicles continues to grow, with a significant increase in sales and battery installation [10] - The third-quarter report indicates a slight recovery in profitability across the industry, with upstream and downstream sectors showing improvement [10][11] Industry News - The global power battery installation volume for 2024 is projected to reach 894.4 GWh, a year-on-year increase of 27.2%. CATL and BYD are leading the market with significant growth in their installation volumes [13] - A strategic cooperation framework agreement has been signed between Dangsheng Technology and Zhongwei Co., focusing on lithium battery materials and resource development [25][28] Important Announcements - CATL has submitted an application for H-share listing on the Hong Kong Stock Exchange [30] - Zhongwei Co. has decided to terminate its nickel refining project with POSCO Holdings due to market changes [30] Price Tracking of Battery-Related Products - Lithium carbonate price is reported at 76,000 CNY/ton, showing a decrease of 1.36% from the previous week [31][34] - The price of cobalt metal is at 163,000 CNY/ton, down by 0.61% [31][34]