电力设备与新能源行业周观察：燃气轮机出海持续突破，全球储能迎高景气度

Investment Rating - The industry rating is "Recommended" [5] Core Insights - The humanoid robot sector is expected to see accelerated commercialization due to advancements in AI technology and strong domestic demand for core components [1][13] - The electric vehicle battery industry is experiencing a rebound in profitability driven by a reduction in oversupply and increasing global demand for energy storage [2][16] - North America's energy storage market is witnessing rapid growth, with companies like Fluence reporting record orders and revenue, indicating a high level of market activity [3][27] - The gas turbine market is thriving due to overseas demand, with leading domestic companies poised to benefit from this trend [8] Summary by Sections Humanoid Robots - The humanoid robot sector is gaining traction with a recent order of 143 million yuan for a data collection project, indicating strong market potential [1][13] - Key components such as dexterous hands and lightweight materials are critical for commercialization, with domestic manufacturers expected to benefit significantly [1][15] Electric Vehicles - The Ministry of Industry and Information Technology is promoting a "de-involution" strategy in the battery industry to combat irrational competition and improve profitability [2][16] - Global energy storage demand is projected to reach 500 GWh by 2025, with lithium iron phosphate battery shipments expected to hit 1,300 GWh [2][22] Renewable Energy - Fluence's FY2025 results show a strong order backlog, with North American energy storage demand driven by renewable energy integration and data center needs [3][28] - The European offshore wind market is also expanding, with significant projects underway, indicating a robust growth outlook for companies involved in this sector [3][29] Power Equipment & AIDC - The gas turbine market is experiencing high demand, with leading companies like Harbin Electric and Shanghai Electric expected to benefit from increased overseas orders [8][30] - The transition to a DAP export model has improved profit margins for companies involved in the construction and transportation of offshore wind projects [7][30]