海风、储能景气周期上行，关注锂电产业边际改善

Investment Rating - Industry Rating: Recommended [5] Core Insights - The energy storage industry narrative has shifted from short-term production to long-term energy supply system layout changes, with increasing demand for household and commercial storage [1][13] - The UK has canceled offshore wind component import tariffs, which will lower project costs and provide opportunities for Chinese wind power companies to expand overseas [2][18] - The US ITC has decided not to impose tariffs on imported anode materials from China, which is expected to enhance the export scale of domestic anode materials and improve profitability [4][38] Summary by Sections New Energy - The German EEG2027 draft indicates a transition in energy policy from subsidies to market-driven consumption, enhancing the economic viability of energy storage [1][13] - The demand for household and commercial storage, as well as large-scale storage, is expected to continue to grow, benefiting leading domestic companies with product and cost advantages [1][13] Power Equipment & AIDC - The global first Rubin NVL72 has entered verification, signaling positive delivery capabilities for suppliers involved in liquid cooling and power supply [3][34] - The demand for power equipment is expected to rise due to the expansion of AI data centers and the need for grid upgrades, particularly in North America and Europe [34][35] New Energy Vehicles - The decision by the US ITC not to impose tariffs on Chinese anode materials is anticipated to restore and enhance the export scale of domestic materials, reducing costs and improving profitability [4][38] Wind Power - The cancellation of import tariffs on offshore wind components in the UK is expected to lower construction costs and create opportunities for Chinese companies in the European market [2][18] - The domestic offshore wind power market is expected to grow significantly, with plans to build offshore wind bases in various provinces [2][18] Lithium Battery Industry - The global demand for lithium batteries is expected to rise, driven by advancements in new technologies such as solid-state batteries and sodium batteries, which will enhance performance and cost-effectiveness [39][42] - The removal of US tariffs on anode materials is likely to lead to increased exports and improved profitability for domestic manufacturers [38][39]