电力设备行业周报：欧洲海风催化持续加强，锂电供需格局持续改善-20251207

Investment Rating - The report maintains a "Recommended" rating for the industry [1] Core Views - The report highlights that the European offshore wind catalysis continues to strengthen, and the supply-demand pattern of lithium batteries is improving [1] - The overall performance of the power equipment sector shows positive changes and potential catalysts, maintaining an overall "Recommended" rating for the sector [7] Summary by Sections Recent Trends - The power equipment sector has shown a performance of -5.4% over the last month, 10.2% over the last three months, and 33.1% over the last year, compared to the CSI 300 index [3] Key Events and Insights - In the photovoltaic sector, there is a continued decline in prices for silicon wafers, batteries, and modules, with a significant reduction in domestic polysilicon production by 15.9% month-on-month in November [4] - In the wind power sector, domestic offshore wind turbine bidding has reached 10.3GW, a 9% increase from the previous year, with significant developments in emerging markets [5] - The energy storage sector is seeing growth, with Trina Solar's energy storage shipments expected to exceed 5GWh in Q4, and a focus on overseas markets [5] - The lithium battery industry is experiencing high prosperity, with production expected to remain at a historical high of around 220GWh in December [5] Recommendations - The report suggests focusing on companies in the silicon material sector such as GCL-Poly and Tongwei, as well as battery technology firms like LONGi Green Energy and Aiko Solar [4] - For wind power, companies like Dongfang Cable and Goldwind Technology are recommended due to their involvement in significant projects [5] - In the energy storage space, leading integrators and cell manufacturers such as Sungrow Power and CATL are highlighted as key players [5] - The lithium battery sector is advised to focus on leading companies like CATL and Yiwei Lithium Energy, as the industry is moving towards a more rational growth phase [5]