电力设备行业跟踪周报：锂电旺季行情来临，储能需求超预期-20250908

Investment Rating - The report maintains an "Accumulate" rating for the electric power equipment industry [1] Core Views - The lithium battery sector is entering a peak season, with energy storage demand exceeding expectations [1] - The report highlights a significant increase in energy storage system and EPC orders, reaching a historical high of 25.8GW/69.4GWh in August 2025 [3] - The report emphasizes the robust growth potential in the electric vehicle market, with a projected annual growth rate of 25% [3] Industry Trends - The electric power equipment sector has shown strong performance, with the electrical equipment index rising by 7.39% in the week of September 1-5, 2025, outperforming the broader market [3] - The report notes that the cumulative investment in the power grid from January to July 2025 reached 331.5 billion yuan, a year-on-year increase of 12.5% [3] - The report discusses the ongoing recovery in the industrial control sector, driven by demand from lithium batteries and wind power [3] Company Insights - Companies such as Ningde Times, BYD, and Sunshine Power are highlighted as key players with strong growth prospects in the lithium battery and energy storage sectors [3][6] - The report mentions that BYD's total installed capacity for new energy vehicle power batteries and energy storage batteries in August 2025 was approximately 23.175 GWh [3] - The report also notes that companies like Trina Solar and JinkoSolar are leading in the integrated component market, with a focus on profitability recovery [4] Investment Strategy - The report recommends focusing on leading companies in the lithium battery sector, such as Ningde Times and Yiwei Lithium Energy, as well as companies involved in energy storage and robotics [3] - It suggests that the energy storage market is expected to grow by 30% in the coming years, driven by demand in emerging markets [3] - The report anticipates a significant increase in the production of solid-state batteries and related technologies, with a focus on companies that are leading in this area [3]