新能源+AI展望（第1期20260208-20260228）：重视上游的弹性，AI+新能源持续带动装备需求

Investment Rating - The report does not provide specific ratings for sub-industries such as power station equipment, electrical equipment, power supply equipment, and new energy power [2][3]. Core Insights - The overall industry strategy emphasizes the importance of upstream flexibility, with AI and new energy continuously driving equipment demand. The recent volatility in upstream sectors like lithium carbonate is expected to trend upwards in the medium term, suggesting opportunities for low-cost investments [4][6]. - The lithium battery supply chain highlights the need to focus on upstream flexibility, with companies like Huayou Cobalt and Salt Lake Industry benefiting from recent export management policies in Zimbabwe and Indonesia [4][5]. - Solid-state batteries are anticipated to continue their rollout, with companies such as Xiamen Tungsten and Peking University benefiting from the upcoming national standards for vehicle solid-state batteries [5]. - The wind-solar-storage industry is expected to benefit from the AI+ effect, with companies like TBEA and Sifang Co. gaining from the national grid's initiatives to enhance resource allocation and renewable energy capacity [6][11]. Summary by Sections Industry Outlook Tracking - The report discusses Zimbabwe's ban on lithium ore exports and the national grid's plans to launch 15 ultra-high voltage direct current projects during the 14th Five-Year Plan [11][12]. - The report also mentions Tesla's potential merger with SpaceX and xAI, which could reshape the AI and automotive landscape [11]. Company Outlook Tracking - Companies like Ningde Times and Huawei Digital Energy are in discussions regarding a potential acquisition, which could significantly impact the energy storage market [21]. - The report highlights the expansion plans of Wanhuah Chemical in the electronic-grade solvent market, aiming to meet the growing demand for lithium-ion battery electrolytes [30]. New Energy and AI Developments - The report emphasizes the strategic importance of new energy and AI, with a focus on the development of floating offshore wind power in Europe, benefiting companies like Daikin Heavy Industries and Oriental Cable [6][7]. - The report also notes the increasing importance of energy storage in the energy system, with companies like CATL and Sungrow benefiting from the anticipated growth in renewable energy installations [6][11].