中国工业 - 两个行业的故事：太阳能的周期性低迷 vs 锂电池的结构性增长-China Industrials-A Tale of Two Sectors Cyclical Downturn in Solar vs. Structural Growth in LiB

September 7, 2025 11:19 PM GMT China Industrials | Asia Pacific M Idea A Tale of Two Sectors: Cyclical Downturn in Solar vs. Structural Growth in LiB We see these two sectors following opposing paths in 2026. LiB equipment should enter a multi-year growth phase with compelling drivers, while solar equipment stays in a cyclical downturn with cautious downstream capex. We are positive on LiB equipment, negative solar equipment. Prefer Wuxi Lead. Sharp divergence between LiB and solar equipment's outlook in 20 ...