电新周报：智元、宇树科技中标 1.24 亿人形机器人大单-20250713

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 significant investment opportunities, particularly in the context of the growing demand for electric power driven by emerging industries like AI [2][3] - The report emphasizes the potential recovery in profitability for the lithium battery sector, driven by a decrease in lithium carbonate prices and advancements in fast-charging technologies [2][3] - The report identifies key companies to watch in the new energy vehicle sector, including CATL, BYD, and others, as well as in the electric power equipment sector, such as Sifang Electric and XJ Electric [2][3] Summary by Sections New Energy Vehicles - The lithium battery sector is expected to recover as the supply-demand imbalance improves, with lithium carbonate prices decreasing, which may lower battery costs and stimulate downstream demand [2][3] - The report notes a significant increase in new energy vehicle sales, with June 2025 sales reaching 1.329 million units, a year-on-year increase of 26.7% [11][12] Electric Power Equipment and Energy Storage - The report anticipates a major year for grid investment, with the electric power equipment sector poised for favorable investment opportunities due to the growing demand for electricity from new energy sources [2][3] - In energy storage, the report forecasts continued high growth, particularly in large-scale storage and commercial storage, driven by the development of virtual power plants and seasonal demand increases [3] Photovoltaics - The report indicates sustained high demand in Europe and robust domestic demand for ground-mounted power stations, with new technologies like TOPCon expected to drive further market growth [2][3] Industrial Control and Humanoid Robots - The report suggests a new industrial control cycle is approaching, with companies like Huichuan Technology and Xusheng Group recommended for investment [5] - The humanoid robot sector is maturing, with companies like Zhiyuan Robotics and Yushutech securing significant contracts, indicating a growing market for humanoid robots [5]