Soochow Securities·2025-08-17 12:02Investment Rating - The report maintains an "Accumulate" rating for the power equipment industry [1] Core Views - The AIDC (Artificial Intelligence Driven Control) sector continues to show high prosperity, with solid-state industrialization accelerating [1] - The report highlights the strong performance of the electric equipment sector, with various segments such as wind power, photovoltaic, and energy storage showing significant growth [4] - The investment strategy emphasizes the potential of humanoid robots and energy storage, predicting substantial market growth in these areas [8] Industry Trends - The electric equipment sector has seen a notable increase in stock performance, with electric equipment rising by 5.84% and wind power by 6.32% in the recent week [4] - The humanoid robot market is expected to reach over 100 million units, with a market space exceeding 15 trillion yuan, marking 2025 as a pivotal year for production [12] - Energy storage in the U.S. has shown a cumulative installation of 5.5 GW in the first half of 2025, reflecting a year-on-year increase of 27% [8] Company Performance - Companies like Ningde Times and BYD are highlighted for their strong sales and growth potential in the electric vehicle and energy storage sectors [7] - Specific companies such as Si Yuan Electric and Keda Li have reported significant revenue growth, with Si Yuan Electric achieving a 37.8% year-on-year increase in revenue for the first half of 2025 [4] - The report suggests a favorable outlook for companies involved in humanoid robotics, energy storage, and electric vehicles, with recommendations for leading firms in these sectors [8] Investment Strategy - The report recommends investing in leading companies such as Ningde Times, BYD, and Sunshine Power, which are expected to benefit from ongoing trends in electric vehicles and energy storage [7] - The humanoid robot sector is seen as a long-term growth opportunity, with specific recommendations for key suppliers and manufacturers [12] - The energy storage market is projected to grow significantly, with a compound annual growth rate (CAGR) of 30-40% expected from 2025 to 2028 [8]