Soochow Securities·2025-10-08 14:52Investment Rating - The report maintains an "Overweight" rating for the power equipment industry [1] Core Views - The power equipment industry is experiencing strong demand in both power generation and energy storage sectors, with significant developments in humanoid and solid-state technologies [1] - The report highlights the robust growth in energy storage, particularly in the U.S. and Europe, with expectations of a compound annual growth rate (CAGR) of 30-50% for global energy storage installations from 2025 to 2028 [3][8] - The humanoid robotics sector is poised for rapid growth, with projections indicating a market potential exceeding 100 million units, driven by advancements from companies like Tesla [12] Industry Trends - The electric equipment sector saw a 4.84% increase in stock performance, outperforming the broader market [3] - Lithium battery production is expected to rise by 10% in October, with strong demand leading to supply constraints anticipated to last until mid-2026 [3][8] - The report notes significant investments and partnerships in the humanoid robotics space, indicating a growing interest and market potential [3][12] Company Insights - Notable companies such as CATL, BYD, and LONGi Green Energy are highlighted as key players with strong growth prospects in their respective segments [6][29] - The report emphasizes the strategic collaborations and acquisitions among companies in the energy storage and robotics sectors, which are expected to enhance their competitive positions [3][6] - Specific companies are recommended for investment based on their market leadership and growth potential, including CATL, Sunpower, and Keda Clean Energy [6][29]