Group 1 - The Carbon Neutrality 50 ETF (159861) has dropped over 3%, driven by expectations of photovoltaic demand and energy transition catalysts [1] - Huazhong Securities emphasizes the need for the power equipment industry to focus on "high proportion of renewable energy consumption" and innovate regulatory models to ensure the safe and stable operation of the power system [1] - The public review of the environmental impact assessment for the Yantai-Weihai ultra-high voltage project indicates that ultra-high voltage construction is expected to accelerate [1] Group 2 - In the photovoltaic equipment sector, the industry chain prices remain weak but stable, with a high focus on anti-involution storage policies, although actual implementation requires detailed rules [1] - Domestic industry self-regulation continues, and policy details are still under observation, with the main photovoltaic industry chain prices expected to stabilize above the cost line [1] - In the wind power sector, domestic offshore wind progress remains high, with four offshore wind projects in Jiangsu undergoing sea area usage verification, and the launch of a 20MW deep-sea floating wind demonstration project in Yangjiang [1] Group 3 - The Carbon Neutrality 50 ETF tracks the Environmental Protection 50 Index (930614), which selects 50 companies that perform well in environmental protection, covering clean energy, energy conservation, and environmental governance [1] - This index reflects the overall performance and development trends of publicly listed companies in the environmental protection industry, showcasing distinct characteristics of the green economy [1]

Group 1: Energy Storage - The global large-scale energy storage tender data remains robust, with rising energy cell prices confirming strong downstream demand for energy storage [1] - Domestic large-scale energy storage is experiencing non-linear growth after reaching an economic inflection point, driven by a surge in electricity consumption from data centers in the U.S. [1] - European household storage demand is showing a mild recovery, while emerging markets are exceeding expectations in household storage demand [1] Group 2: Wind Power - The domestic offshore wind power sector continues to show high prosperity, with the acceleration of industrial chain and market mechanisms [1] - Recent developments include the public announcement of sea area usage reports for four offshore wind projects in Jiangsu and the initiation of a 20MW floating wind power demonstration project in Yangjiang [1] Group 3: Photovoltaics - The photovoltaic industry chain is experiencing weak price stability, with ongoing discussions about anti-involution storage policies, although actual implementation requires specific details [1] - Battery cell prices have shown slight downward fluctuations, while prices in other segments remain weakly stable, influenced by changes in terminal demand [1] Group 4: Electric Vehicles - Prices for upstream lithium battery raw materials are rising, with lithium carbonate and lithium hydroxide increasing for the fourth consecutive week [3] - The capacity utilization rate for power batteries exceeds 92%, with major companies like CATL and Zhongchuang Innovation operating at full capacity [3] - A new trend of deep joint ventures between vehicle manufacturers and battery producers is emerging, with 17 mainstream new energy vehicle companies launching tax rebate schemes [3] Group 5: Robotics and Hydrogen Energy - Yuzhu Technology has completed IPO guidance, while Tesla is expanding its Texas Gigafactory [4] - The full-size industrial humanoid robot Walker S2 from Ubtech has officially begun mass production and delivery [4] - The hydrogen energy sector is seeing increased support policies, with the world's largest solid-state hydrogen storage project successfully launched, driven by IMO emission reduction goals and European carbon taxes [4] - The hydrogen energy industry is developing positively, with a focus on constructing a factor assurance system and reducing financing difficulties [4]

[Table_IndNameRptType] 电力设备 行业周报 锂电材料价格上涨，储能需求持续火热 [Table_Author] 分析师：张志邦 执业证书号：S0010523120004 电话：15652947918 邮箱：zhangzhibang@hazq.com 分析师：刘千琳 [Table_IndRank] 行业评级：增持 报告日期： 2025-11-19 [Table_Chart] 行业指数与沪深 300 走势比较 -28% -11% 6% 23% 40% 57% 11/24 2/25 5/25 8/25 电力设备 沪深300 执业证书号：S0010524050002 邮箱：liuqianlin@hazq.com 分析师：郑洋 执业证书号：S0010524110003 邮箱：zhengyang@hazq.com 分析师：王璐 执业证书号：S0010525040001 电话：18301818122 [Table_Report] 相关报告 ⚫ 电网设备：关注"高比例新能源消纳"创新调控方向，烟威特高压登 州升压环评公示 新型电力系统从系统运行端看，需聚焦"高比例新能源消纳"，创新调控 模式。需通过提升惯 ...