电力设备新能源2025年6月投资策略：关注数据中心HVDC应用进展，固态电池行业进展催化不断

Group 1: Core Insights - The report emphasizes the importance of advancements in HVDC applications for data centers, highlighting collaborations between companies like VRT and Nvidia to develop next-generation 800V HVDC architecture, which is expected to become mainstream in AI data center power supply systems [1][27] - The solid-state battery industry is progressing with significant developments, including Guoxuan High-Tech's establishment of a pilot line with a designed capacity of 0.2GWh and an energy density of 350Wh/kg, as well as the introduction of industry standards for solid-state batteries [2][62] - The offshore wind sector is anticipated to see a record year for bidding in 2025, with over 25GW of projects approved for bidding, indicating a robust growth trajectory for both offshore and onshore wind installations [3][50] Group 2: Market Performance - In May, the electric power equipment sector outperformed the market, with the sector index rising by 2.17% compared to a 1.85% increase in the CSI 300 index, ranking 18th among 31 primary industries [3][13] - The overall valuation of the electric power equipment sector remained stable, with a PE ratio of 28.4x and a PB ratio of 2.2x as of the end of May [3][18] - Notable stock performances in May included Tongling Co. with a 31.0% increase, Longpan Technology at 18.2%, and Huaguang Huaneng at 14.8% [3][22] Group 3: Key Companies and Investment Focus - The report identifies key companies to watch in the HVDC space, including Hewei Electric and Shenghong Co., which are expected to benefit from early investments in HVDC technology [1][27] - In the solid-state battery sector, companies such as Xiamen Tungsten New Energy and Tiannai Technology are highlighted as significant players in the ongoing industrialization of solid-state batteries [2][63] - The report suggests focusing on companies in the offshore wind sector, including Goldwind Technology and Sany Heavy Energy, as they are poised to benefit from the anticipated growth in offshore wind installations [3][50]