Sniper

The Report is produced in Chinese only.

昔日報告:
  29-04-2024 (星期一) “以舊換新”靴子落地,車市或迎小陽春
  02-04-2024 (星期二) 品牌服飾與鞋類正進入補貨週期
  11-03-2024 (星期一) 新一輪以舊換新政策或提振市場情緒
  27-11-2023 (星期一) 試點開始,智能網聯汽車關注度提升
  06-11-2023 (星期一) 2023 年第三季全球 PC 出貨量再次下降
[第4頁 / 共69頁]

儲能與新能源車雙輪驅動,技術迭代打開鋰電增長空間

中國汽車工業協會資料顯示,2025年前9個月,中國新能源汽車產銷分別完成1124.3萬輛和1122.8萬輛,同比分別增長35.2%和34.9%,新能源汽車新車銷量達到汽車新車總銷量的46.1%,表現亮眼,彰顯新能源車行業蓬勃活力,有效帶動動力電池裝車量實現強勁增長。電車匯資料顯示,1-9月我國動力電池累計裝車量493.9GWh,同比增長42.5%。出口方面,1-9月動力電池出口量為129.1GWh,累計同比增長32.7%,海外市場成為重要增量。

儲能市場需求加速湧現,BloombergNEF預計到2030年底,全球累計儲能裝機容量將達到1,877GWh,產能達650GW。

鋰電行業正處於需求擴張與技術迭代的關鍵增長期,儲能與新能源汽車雙輪驅動需求持續釋放,疊加政策支持與全球競爭格局優化,行業景氣度有望持續提升。當前估值處於合理區間,頭部企業盈利修復與技術突破為主要看點,建議關注寧德時代(3750.HK)、比亞迪(002594.SZ)、贛鋒鋰業(1772.HK/002460.SZ)以及廈門鎢業(600549.SH)。

撰稿: 李曉然研究分析員
電話:
22776535

電郵地址:
margaretli@phillip.com.hk
This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on http://www.phillip.com.hk. Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.
Top of Page
Contact Us
Please contact your account executive or call us now.
Research Department
Tel : (852) 2277 6846
Fax : (852) 2277 6565
Email : businessenquiry@phillip.com.hk

Enquiry & Support
Branches
The Complaint Procedures
About Us
Phillip Securities Group
Join Us
Phillip Network
Phillip Post
Phillip Channel
Latest Promotion
新闻稿
E-Check
Login
Investor Notes
Free Subscribe
Contact Us