电新周报：Figure机器人VLA模型Helix发布电力设备与新能源

Investment Rating - The investment rating for the power equipment and new energy industry is "Positive" [2] Core Views - The report highlights an expected optimization in the power battery landscape, with profitability in the sector likely to recover due to a potential turning point in the oversupply of lithium batteries and a decrease in lithium carbonate prices, which may lower battery costs and stimulate downstream demand [2][3] - The report emphasizes that 2025 is expected to be a significant year for grid investment, with the global grid entering a growth cycle driven by increased electricity demand from emerging industries like AI and the pressure on the grid from rapid renewable energy development [2][3] - In the energy storage sector, the report anticipates sustained high growth, particularly in large-scale storage and commercial storage, with the development of virtual power plants enhancing revenue models for commercial storage [3] Summary by Sections New Energy Vehicles - The lithium battery sector has experienced a long-term significant correction, but a recovery in profitability is anticipated as lithium carbonate prices decline, potentially stimulating demand [2] - The report suggests focusing on rapidly growing charging pile companies and related enterprises such as Tonghe Technology and Shenghong Co., as well as key players in lithium battery production like CATL and BYD [2][3] Power Equipment and Energy Storage - The report indicates that the power equipment sector is poised for favorable investment opportunities, with a growing need for grid upgrades and construction due to the increasing demand for electricity from new industries [2] - Recommended companies include Suyuan Electric, Haixing Power, and XJ Electric, among others [2] Photovoltaics - The report notes strong demand in Europe and a robust domestic market for ground-mounted power stations, with new technologies like TOPCON and HJT accelerating production [3] - Key recommendations include companies like Trina Solar and LONGi Green Energy [3] Industrial Control & Robotics - The report suggests a new industrial control cycle is approaching, with a focus on companies like Huichuan Technology and Xusheng Group [5] - The emergence of humanoid robots is highlighted, with recommendations for companies involved in this sector [5] Low-altitude Economy - The report discusses the rapid development of low-altitude economy projects, with recommendations for companies like CATL and Xusheng Group [6]