电气设备行业周报：中国风能专委会，欧盟对中国风电机组补贴调查是贸易保护行为

Investment Rating - The report maintains an "Outperform" rating for the electrical equipment industry [2] Core Views - The European Union's investigation into Chinese wind turbine subsidies is seen as a trade protection measure, which could disrupt the global wind power market [5][12] - The report suggests focusing on investment opportunities in the electrical equipment sector, particularly in high-voltage construction and new energy systems [5][6] Summary by Sections 1. EU Investigation on Chinese Wind Turbines - The EU has initiated an investigation into Chinese wind turbine manufacturers under the new Foreign Subsidies Regulation, marking the fourth such case in two months [5][12] - The Chinese Wind Energy Association argues that this investigation is a serious trade protection action that sends a discriminatory signal against Chinese companies [5][18] - The report highlights the significant cost advantage of Chinese wind power installations, with the average installation cost dropping from approximately 2500 USD/kW to 1103 USD/kW from 2022 [13][15] 2. Investment Recommendations in Electrical Equipment - The report recommends focusing on several investment themes in the electrical equipment sector: 1. Attention to high-voltage construction as China transitions from the 14th Five-Year Plan to the 15th Five-Year Plan, with key players like State Grid NARI, Pinggao Electric, and XJ Electric [5] 2. Investment in the upgrade and transformation of new power systems, with companies like Huaming Equipment and Siyuan Electric highlighted [5] 3. Opportunities in overseas markets, particularly in Europe and the US, for companies with strong export capabilities such as Samsung Medical, Siyuan Electric, and Haixing Power [5] 3. Investment Recommendations in New Energy Generation - In the photovoltaic sector, the report suggests focusing on: 1. Integrated companies with new battery technologies like JinkoSolar, JA Solar, Trina Solar, and LONGi Green Energy [5] 2. Companies with high profitability and emerging technologies in the battery segment such as Aiko Solar and Junda Technology [5] 3. Silicon wafer manufacturers with growth potential like TCL Zhonghuan and Shuangliang Eco-Energy [5] 4. Inverter companies benefiting from increased demand and energy storage, including Sungrow Power, Jinlang Technology, and GoodWe [5] 5. Beneficiaries in auxiliary materials like Foster and Flat Glass [5] 4. Investment Recommendations in New Energy Vehicles - The report highlights several key players in the new energy vehicle sector: 1. Leading companies with global competitiveness such as CATL, Enjie, and BYD [6] 2. Second-tier lithium battery companies focusing on power and energy storage like Yiwei Lithium Energy and Guoxuan High-Tech [6] 3. High-quality lithium battery material companies including Zhongke Sanan and Dangsheng Technology [6] 4. Component leaders benefiting from global electrification like Inovance Technology and Sanhua Intelligent Controls [6] 5. New forces driving intelligent products like Tesla and NIO [6] 5. Industry Data Tracking - The report includes various data points on the prices of polysilicon, solar cells, and other materials relevant to the new energy sector [19][29][39]