Morgan Stanley said that China's battery industry's anti-domestic campaign is entering a new stage, and capacity expansion is increasingly linked to capacity utilization, which will benefit industry leaders. In the first half of the Ningde era, the capacity utilization rate reached 95%, while the domestic industry average was only 65%. The bank maintains a target price of 595 yuan for A-shares in the Ningde Era, and there is still room for an increase of about 77% from Thursday's closing price.

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