国轩高科发布G垣准固态电池，光伏行业提质增效逐步进行

Investment Rating - The report maintains an "Overweight" rating for the electric power equipment industry [4]. Core Insights - The lithium battery industry is expected to enter a 2-3 year upward cycle, with potential improvements in performance and valuation [6]. - The report highlights significant developments in the energy storage sector, including a list of major projects in Inner Mongolia and policy support in Shanghai [29][26]. - The photovoltaic industry is experiencing price stabilization after a recent decline in production and demand, with a focus on new technologies and leading companies [35][38]. Summary by Sections Lithium Battery Sector - The report notes that the battery industry index increased by 2.47%, outperforming the Shanghai Composite Index [9]. - Key companies such as CATL and EVE Energy are recommended for investment due to their strong performance [6]. - The report mentions the cancellation of the U.S. electric vehicle tax credit, which may impact the market [11][12]. Energy Storage Sector - Inner Mongolia has announced 33 major energy storage projects totaling over 7GW/28GWh [26]. - Shanghai is exploring capacity compensation mechanisms to encourage independent energy storage projects [29]. - The report emphasizes the importance of energy storage in balancing supply and demand in the power grid [31]. Electric Power Equipment Sector - The report indicates that the electric power equipment sector will benefit from increased domestic investment due to economic stimulus measures [6]. - Companies involved in ultra-high voltage projects are highlighted as potential investment opportunities [6]. Photovoltaic Sector - The global production of photovoltaic cells reached 60-61GW, with a slight decline in prices expected [35]. - The report identifies key players in the photovoltaic industry, including GCL and LONGi Green Energy, as potential investment targets [35]. - The report discusses the impact of new policies on the photovoltaic market, including price mechanisms and project approvals [38].