电新周报：广东省人工智能与机器人产业联盟成立电力设备与新能源

Investment Rating - The industry investment rating is "Positive" [2] Core Viewpoints - The report highlights that the electric power equipment and new energy sectors are expected to see improved profitability, particularly in the electric vehicle battery segment, as lithium battery supply issues are anticipated to reach a turning point. The decline in lithium carbonate prices is expected to lower battery costs and stimulate downstream demand [2][3] - The report emphasizes the importance of the electric power equipment sector, predicting a significant investment year for the grid, driven by increased electricity demand from emerging industries like AI and the rapid development of renewable energy, which is creating pressure on the grid [2][3] - In the energy storage sector, the report forecasts sustained high growth in 2025, with opportunities arising from the development of large-scale storage, commercial storage, and household storage [3][4] - The photovoltaic industry is expected to benefit from high demand in Europe and a robust domestic market, with new technologies like TOPCON and HJT accelerating the market's growth [3][4] - The report also discusses the industrial control and humanoid robot sectors, noting the establishment of the Guangdong Artificial Intelligence and Robotics Industry Alliance, which is expected to facilitate the industrialization of humanoid robots [5][6] Summary by Relevant Sections New Energy Vehicles - The report indicates that in April 2025, new energy vehicle sales reached 1.226 million units, a year-on-year increase of 44.2%, while the installed capacity of power batteries was 54.1 GWh, up 54.6% year-on-year [11][12] Electric Power Equipment and Energy Storage - The report suggests that 2025 will be a significant year for grid investment, with a focus on companies like Suyuan Electric, Haixing Power, and Jindan Technology [2][3] - In energy storage, the report highlights investment opportunities in large-scale storage, commercial storage, and household storage, recommending companies such as Nanfang Technology and Sungrow Power [3][4] Photovoltaic Industry - The report notes that the photovoltaic sector is experiencing strong demand, particularly in Europe, and highlights the potential of new technologies to drive growth [3][4] Industrial Control and Humanoid Robots - The establishment of the Guangdong Artificial Intelligence and Robotics Industry Alliance is expected to enhance collaboration among robot companies and accelerate the industrialization of humanoid robots [5][6]