行业点评报告：充电桩“倍增”行动或引领新一轮充电桩投资

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report highlights a significant investment opportunity in the charging infrastructure sector, driven by the government's "Doubling Action" plan for charging facilities, which is expected to generate nearly 200 billion yuan in investments [4][6] - As of April 2025, the number of public charging piles in China reached 3.992 million, with a year-on-year growth of 22.5% in new installations during the first four months of 2025 [5] - The report emphasizes the rapid growth of electric vehicle sales, with 3.658 million units sold domestically in the same period, indicating a strong correlation between charging infrastructure and electric vehicle adoption [5] Summary by Sections Industry Overview - The report indicates a recovery trend in the electric vehicle market, with April 2025 showing the highest year-on-year growth rate for the year [3] Investment Opportunities - The "Doubling Action" plan is projected to lead to an investment of approximately 200 billion yuan, benefiting various segments of the charging pile industry, including: 1. Well-branded charging piles, with recommendations for companies like Teruid and Green Energy Huichong [6] 2. Concentrated charging modules, recommending Tonghe Technology [6] 3. Leading charging operation and aggregation companies, recommending Teruid [6] Market Data - The report provides data on the public charging pile distribution, with 1.834 million direct current charging piles and 2.157 million alternating current charging piles as of April 2025 [5] - The total charging electricity in April 2025 was approximately 6.14 billion kWh, reflecting a year-on-year increase of 55.6% [5]