新能源行业周报（第122期）：重视电动车生态圈的延伸，AI、固态继续向好

Investment Rating - The report maintains a positive outlook on the electric equipment and new energy sector [1] Core Viewpoints - The industry strategy emphasizes the extension of the electric vehicle ecosystem, with AI and solid-state technologies continuing to show positive trends [4] - The new energy vehicle supply chain has entered a new cycle, with significant opportunities in the Xiaomi ecosystem and solid-state battery industry [10][11] Summary by Sections New Energy Vehicles - Focus on the opportunities within the Xiaomi ecosystem, highlighting companies like CATL and Haopeng Technology, as well as the undervalued stocks in Hong Kong [4][10] - Xiaomi's car sales surged nearly 8 times month-on-month in early February, surpassing XPeng Motors, with only a 300-unit gap from the leading Li Auto [4][10] - CATL has submitted an application for H-share issuance on the Hong Kong Stock Exchange, indicating potential growth for leading companies in the Hong Kong market [4][10] - The solid-state battery industry is gaining traction, with the first generation expected to be mass-produced between 2025 and 2027, and the second generation between 2027 and 2030 [5][11] Photovoltaic Industry - The report indicates a gradual confirmation of the mid-term bottom for the photovoltaic industry, with expectations for price recovery in the terminal price system [6][12] - The National Development and Reform Commission has initiated reforms to promote the market-oriented development of renewable energy, which is expected to enhance the rigid demand for energy storage [6][12] - Silicon material prices have seen a slight increase, with some leading companies' prices approaching 42 RMB/kg, reflecting a 1 RMB/kg increase compared to before the holiday [6][12] Wind Power Industry - The Fanstone I project has entered full construction, indicating that previous construction constraints have been resolved [7][14] - The project marks a significant step forward, with subsequent projects like Fanstone II and Qingzhou 57 expected to commence soon [7][14] - The China Nuclear Group has initiated a wind turbine bidding process for the Xu Wen Dong II project, with a scale of 300 MW, indicating a robust development in offshore wind projects [15][14]