Hong Kong Stock Concept Tracking | New Energy Storage Welcomes Policy Favorable Industry Chain Various Scenes Demand Acceleration (Including Concept Stocks)

On February 17, the Ministry of Industry and Information Technology and eight other departments issued the "Action Plan for the High-Quality Development of the New Energy Storage Manufacturing Industry" to build a new generation of growth engines such as information technology and new energy and promote the high-quality development of the new energy storage manufacturing industry. It proposes to promote the construction of new energy integrated new energy storage and intelligent control means to build friendly new energy power stations. For areas with low local consumption capacity such as deserts, Gobi, and deserts where new energy is abundant, support new energy storage to support large-scale integration of renewable energy. Accelerate the promotion of shared energy storage to enhance the auxiliary service capabilities of energy storage for the power system. Encourage new energy storage as an independent energy storage entity to participate in the electricity market. Accelerate the promotion of grid-connected energy storage applications to enhance the support capacity of new energy storage for the stable operation of the power system, and accelerate the promotion of alternative energy storage in areas with scarce land resources or remote areas to alleviate the pressure of investment in transmission and transformation, and improve the end power supply capacity of the power grid. According to the GGII statistics, in 2024, China's exports of lithium batteries for energy storage exceeded 120GWh, with the main destinations being the United States, Europe, Southeast Asia, the Middle East, among others, with Europe and the Americas accounting for 73% of the demand. In terms of order shipment entities, almost all orders above GWh are undertaken by the top 10 companies. Third-party consulting firm InfoLink Consulting released the Top 10 ranking of overseas market energy storage cells in 2024, which are Contemporary Amperex Technology, BYD Company Limited, Eve Energy Co., Ltd., Vision, REPT BATTERO, Samsung SDI, HaiChen Energy Storage, CALB, LG Energy Solution, Gotion High-tech. This list is the industry's first list that reflects the overseas market shipments of global energy storage companies. Sealand released a research report stating that the economics of light storage drive energy transformation, cost reductions stimulate the outbreak of rigid demand in power shortage markets. It predicts that the demand for energy storage in various scenarios will accelerate in the context of the new global energy era, focusing on the traditional large storage markets in the United States and China continuing to grow at a high rate, gradual increase in other regions, the continued prosperity of the demand for small storage in emerging markets, and the expansion of the touch surface. It also suggests investing in opportunities derived from the transformation of data centers to AIDC, as energy storage is mainly used for new energy access or as backup power sources, which may open up new growth opportunities; the energy storage industry maintains a "recommended" rating. Hong Kong stocks related to the energy storage sector: BYD Company Limited (01211): The CTO of BYD Company Limited's lithium battery division, Sun Huajun, revealed at the Second China Solid-State Battery Innovation and Development Summit that BYD Company Limited will start mass demonstration applications of solid-state batteries around 2027 and achieve large-scale adoption after 2030. Ruipulan Jun (00666): The company's lithium battery shipments were 3.3, 16.6, and 19.5GWh in 2021-2023 respectively. In the first half of 2024, the company's lithium battery shipments increased by +108% year-on-year to 16.2GWh, with 7.6GWh for power and 8.6GWh for energy storage, a year-on-year increase of +316% and +45% respectively. The company's production capacity continues to be released, maintaining industry-leading technology, with growth in demand from major power and energy storage customers, and it is expected to continue to achieve high growth in battery shipments. CALB (03931): According to the China Automotive Power Battery Industry Innovation Alliance, in January-August 2024, the company's domestic power battery installations increased by +5.7% to 20.23GWh, ranking third with a market share of 6.99%, leading fourth place by 3.09pcts.