HK Stock Market Move | Tianneng Power (00819) rose nearly 6% in the afternoon, the bicycle industry is expected to see an increase in demand for batteries in the second half of the year, and lead acid battery consumption is expected to improve.

Tianneng Power (00819) rose nearly 6% in the afternoon, as of press time, it rose 4.24% to HK$6.88, with a turnover of HK$1.42 billion. Sinolink pointed out that the catalytic cyclical exchange policy has already been fully reflected in the short-term slowing market, and the mid-year growth rate of the leading companies in the two-wheeler sector is still expected to be good. Expectations for replenishment before the implementation of the new national standard in the third quarter can be elastic, and attention should be paid to the expectation of marginal improvement in operational data. In the second half of the year, with the formal implementation of the new national standard, the optimization of the market brought about by supply constraints can still be expected. Guotai Junan Futures pointed out that the "old for new" policy will continue until 2025, and will provide higher subsidies for switching from lithium to lead, increasing the cost-effectiveness of lead-acid batteries on the consumer end. According to data from the Ministry of Commerce, as of June 2025, the cumulative number of electric bicycles exchanged for new ones has exceeded 6.5 million, and the pace of exchange for new ones is continuously accelerating, with expectations of demand replenishment. It is expected that the consumption performance of lead-acid batteries in the second half of the year may further improve.