电新周报：美国光伏迎利好，AIDC不惧高，风机中标价维持强势-20250817

Investment Rating - The report maintains a positive outlook on the wind power sector, particularly on the complete machine segment, indicating a long-term recovery in the industry [7][9][16]. Core Insights - The AIDC sector shows strong performance with significant revenue growth from key players like Chi-Hong and Hon Hai Precision, indicating a robust market sentiment [5][6]. - The wind power sector is expected to see sustained price increases for wind turbines, driven by both demand and strategic pricing from manufacturers [9][10]. - The solar and energy storage sectors are benefiting from updated IRS guidelines in the US, which are expected to boost project demand and positively impact related stocks [17][19][22]. - The hydrogen and fuel cell market is entering a significant growth phase, with SOFC technology showing promising economic viability and potential market size [26][27]. AIDC Sector Summary - Chi-Hong reported a record high revenue of 52.93 billion NTD for Q2 2025, with a 66% year-on-year increase, and a net profit of 7.78 billion NTD, up 115% [5]. - Hon Hai Precision's Q2 2025 revenue reached 3.4 trillion NTD, a 20% increase year-on-year, with a net profit of 95.37 billion NTD, reflecting a 49% growth [6]. Wind Power Sector Summary - The average bid price for the 1.65GW project by Datang remains high, reinforcing the expectation of continued price increases in the wind turbine market [9][10]. - Datang's project bidding results indicate a strong market for wind power, with expectations for sustained growth in demand through 2026 [8][9]. Solar & Energy Storage Summary - The updated IRS guidelines have relaxed the requirements for clean energy tax credits, positively impacting the solar project market in the US [17][19]. - China Huadian's upcoming 20GW component procurement is anticipated to set a precedent for pricing stability in the solar component market [22]. Hydrogen & Fuel Cell Summary - The SOFC market is projected to reach a trillion-dollar scale, with significant orders from data center projects indicating a strong demand for this technology [26][27]. - Companies like Bloom Energy are leading the charge in SOFC applications, with substantial contracts in place for powering AI data centers [26][27]. Lithium Battery Summary - The solid-state battery sector is advancing, with companies like Penghui Energy and Royal International making significant strides in production and technology [30][31]. - The global largest semi-solid battery storage project has been signed by Nandu Power, marking a key milestone in the commercialization of solid-state battery technology [31]. New Energy Vehicles Summary - Geely's Q2 2025 performance reflects resilience in a competitive market, with a total vehicle sales increase of 47.2% year-on-year [34][35]. - The company reported a net profit of 6.66 billion CNY for H1 2025, indicating strong operational performance despite challenges in the electric vehicle segment [34][35].