电力设备与新能源行业2月第3周周报：八部门发文推动新型储能制造业高质量发展

Investment Rating - The industry is rated as "Outperforming the Market" [1][32] Core Insights - The report highlights that the new energy sector is expected to see increased demand due to market-oriented reforms in photovoltaic pricing, which may lead to price increases in the short term [1][2] - The report emphasizes the importance of supply-side reforms and the potential for improved profitability among leading companies in the silicon material, battery cell, and glass segments by 2025 [1][2] - The wind power sector is anticipated to experience steady growth in demand, driven by domestic and overseas project developments, which will benefit the profitability of complete machines and components [1][2] - The report suggests prioritizing investments in sectors with expected profitability improvements, particularly in complete machines and casting segments benefiting from offshore wind and overseas demand [1][2] - The electric power equipment sector is expected to maintain high demand due to ongoing reforms in the power system and robust overseas grid renovation needs [1][2] - The hydrogen energy sector is projected to benefit from continuous policy support, with a focus on companies with cost and technological advantages in electrolyzer production and hydrogen infrastructure [1][2] Summary by Sections Market Performance - The electric power equipment and new energy sectors rose by 2.9% this week, outperforming the Shanghai Composite Index, which increased by 0.97% [5][8] - The industrial automation sector saw the highest increase at 12.06%, while the photovoltaic sector experienced a decline of 1.21% [5][8] Industry Dynamics - In January, the production and sales of new energy vehicles reached 1.015 million and 944,000 units, respectively, marking year-on-year growth of 29% and 29.4% [18] - The report notes that the Ministry of Industry and Information Technology and other departments have issued a plan to accelerate the high-quality development of the new energy storage manufacturing industry [18] - The report also mentions significant developments in the hydrogen energy sector, including the issuance of a development action plan by Jiangsu Province [18] Company Updates - Shenghong Co. expects a net profit of 426 million yuan for 2024, a year-on-year increase of 5.70% [22] - Nanfang Technology anticipates a net profit of 365 million yuan for 2024, reflecting a growth of 29.79% [22] - JinkoSolar is planning to issue H shares and list on the Hong Kong Stock Exchange [22]