新能源汽车产业链行业周报：固态电池技术路线聚焦，龙头引领量产进程

Investment Rating - The report maintains a "Positive" outlook for the new energy vehicle industry [5] Core Insights - The demand for new energy vehicles is showing a strong upward trend, with sales expected to reach 12.865 million units in 2024, a year-on-year increase of 35%. The installed capacity of power batteries is projected to be 548.4 GWh, up 41% year-on-year [10][11] - The overall profitability of the industry is stabilizing and showing slight improvement, with upstream lithium resources and downstream batteries recovering significantly. However, midstream materials are still affected by the depreciation of lithium carbonate [10][11] - The focus on solid-state battery technology is emerging, with significant opportunities for technological upgrades. The mainstream direction involves sulfide solid electrolytes paired with high-nickel ternary cathodes and silicon-carbon anodes [11][12] Summary by Sections Industry Investment Rating - The report maintains a "Positive" outlook for the new energy vehicle industry [5] Key Market Trends - In 2024, China's new energy vehicle sales are expected to reach 12.865 million units, a 35% increase year-on-year, while power battery installations are projected at 548.4 GWh, a 41% increase [10][11] - The profitability trend in the industry is stabilizing, with upstream lithium resources and downstream batteries showing recovery, although midstream materials are still impacted by lithium carbonate depreciation [10][11] Solid-State Battery Developments - Solid-state battery technology is gaining focus, with the consensus at the second China All-Solid-State Battery Innovation Development Summit indicating that sulfide solid electrolytes combined with high-nickel ternary cathodes and silicon-carbon anodes are the mainstream path [11][12] - Short-term advancements in semi-solid and all-solid-state battery samples are expected to catalyze growth, while long-term applications like eVTOL are anticipated to create significant demand for high-energy-density batteries [11][12] Investment Recommendations - Recommended stocks to watch include CATL (300750, Buy), Shengtai Technology (001301, Not Rated), Keda Li (002850, Not Rated), Yiwei Lithium Energy (300014, Not Rated), and others in the solid-state battery and charging infrastructure sectors [12]