1）宁德时代与蔚来合作有望不断加深。根据GGII，2020 年1-7 月，宁德时代合计实现装机量10.9GWh，其中为蔚来装配18,444辆，装机量为1.3GWh，在宁德时代总装机量中的占比达11.8%，为第一大装机客户。通过合资公司的设立、BaaS 模式的应用与渗透，宁德时代与蔚来的合作有望持续深化。2）BaaS 模式有望驱动蔚来销量增长。BaaS 模式购买蔚来全系车型，整车售价将减少7 万元，即ES8、ES6 及EC6 补贴后售价降低至38.00 万起、27.36 万起及28.00 万起，明显降低购置成本。电池租用费用为980 元/月，以此计算，购车减少的7 万元可支撑70KWh 电池包租用费用约6 年。另外，通过BaaS 模式，电池包性能衰减等问题造成的不便利性以及资金成本将从车主转移至整车企业，有望提升消费者的购车好感度及用车体验，从而推动蔚来销量的增长。3）换电模式具备发展前景。换电模式具备降低购车成本、缓解里程及充电焦虑等优势，将成为与充电模式互补的重要技术路线。蔚来作为换电模式的领先探索者，有望持续推动国内换电模式的发展，同时驱动宁德时代动力电池技术的升级与出货量的提升。

近期，上市公司中报开始陆续披露。从目前已发布的电力板块公司业绩来看，受益于煤价回落，电价稳定等因素，火电板块上半年整体业绩改善，火电龙头华能国际、华电国际等单季度业绩增速可观。我们预计2020 年全年动力煤价在需求相对偏弱、供给逐步释放的背景下仍将维持同比低位、窄幅震荡，叠加电力需求逐步恢复的背景下，下半年火电企业业绩仍值得期待。同时在来水偏丰的预期下，看好水电企业下半年业绩改善。电力板块我们强烈推荐：国投电力，推荐：三峡水利、涪陵电力、华电国际、长江电力、川投能源，相关公司：建投能源、江苏国信、京能电力、黔源电力。

8 月6 日，国家能源局综合司发布《关于开展风电开发建设情况专项监管的通知》(国能综通新能〔2020〕78 号)，《通知》明确：为全面落实《可再生能源法》及风电行业管理政策，推动风电产业高质量发展，根据我局2020 年能源监管重点任务安排，现组织开展风电开发建设情况专项监管。

CCTD：综合交易价持平和现货平仓价上涨。2020 年8 月，动力煤长协价（Q5500）为543 元/吨，月环比上涨5 元/吨。8 月21 日，CCTD 秦皇岛动力煤综合交易价（Q5500）为553 元/吨，周持平；CCTD 秦皇岛动力煤现货平仓价（Q5500）为561 元/吨，周上涨1 元/吨。

Hazardous location LED lighting refers to a network of LED lights that are fitted with sensors and can detect hazardous substances. These networks can provide a highly effective earlydetection system for plant safety and safeguard the life and proper ty, in case of an incident. LED lighting for hazardous locations holds the potential to save operating and maintenance costs for operators of the facilities. LED lighting is agreed as a viable alternative to traditional lighting in areas, where flammable gases and vapors are present (under conditions defined by NEC class I, division 2, and IEC zone 2). Besides the detection of hazardous substances and triggering of an alert, these sensors equipped LED lighting equipment allow the configuration to dynamically illuminate the lights along the evacuation route, based on the absence of the offending substance, thereby, assisting the guide personnel on the fastest, safest escape route. Energy conservation is another benefit achieved by these LED fixtures incorporating smar t sensors. These can help reduce energy use by an additional 50%.

Lighting systems are deployed in aircraft to illuminate the interior and exterior of aircraft, thereby offering enhanced visibility of the surrounding. Lighting comprises signaling devices as well as other display devices, which increase the conspicuity of the aircraft. The aircraft lighting market has witnessed significant growth over years, owing to increase in trend of advanced lightings to be installed in aircraft. For the purpose of analysis, the global aircraft lighting market is segmented into interior light, exterior light, aircraft application, light type, and region. The report provides details of various interior lights such as emergency lights, specialty lights, wash lights, reading lights, and lavatory lights. In addition, it overs covers information of exterior lights, including aircraft visibility lights, pilot lights, and specific purpose lights. The study further highlights the revenue generated from various aircraft type, which include commercial, business jets, military, and helicopters. Moreover, it focuses on various light type, including florescent light and LEDs. Furthermore, the report includes the revenue generated from aircraft lightning systems across various geographical regions such as North America, Europe, Asia-Pacific, and LAMEA.

The batteries which use graphene as electrode material are called graphene batteries. Graphene as electrode material can be used in various type of conventional batteries such as lithium batteries, lead batteries, lithium sulfur and material for supercapacitors. The segments analyzed in the report are by battery type: Lithium ion (Li-ion) batteries, Lithium Sulfur (Li-S) batteries, Supercapacitors, and Lead acid batteries. Graphene batteries are used in various industries such as automotive, electronics, aerospace and defense, energy & storage, industrial robotics, and healthcare. Applications further include various sub segments such as:

下半年光伏需求有望强势复苏，产业链各环节供需格局迎来边际改善，盈利有望修复，异质结新技术值得期待。疫情冲击新能源汽车上半年销量，下半年需求有望明显回暖，长期高增长可期；中游竞争格局持续优化，全球供应链加速导入；上游锂钴基本面筑底，供需格局有望持续优化。电力设备方面，电网工程投资连续强复苏，将有超过10 条特高压线路开始进入建设周期，核心供货企业有望显著受益。

长江中下游流域刷新纪录的梅雨天数和降水量，对于相关地区的发、用电需求造成了显著影响。就全国来看，虽然增速出现下滑，但中坚力量制造业仍表现稳健。