HK Stock Market Move | CALB (03931) rose by over 11%, showing strong performance in the domestic energy storage market. The company is accelerating the promotion of its dual-drive business strategy in energy storage.

CALB (03931) surged over 11%, as of press time, up 11.44% to HK $34.68, with a turnover of HK $340 million. On the news front, on October 28th, the "Proposal of the Central Committee of the Communist Party of China on Formulating the Fifteenth Five-Year Plan for National Economic and Social Development" was released, providing guidance on carbon emission reduction targets and the development of a new energy system, emphasizing the vigorous development of new energy storage, among other things. China Securities Co., Ltd. pointed out that the domestic energy storage projects added 255.8 GWh in tenders from January to September this year, a year-on-year increase of 97.7%. The company raised its forecast for new domestic energy storage installations to 300 GWh next year, with potential shortages in various stages. It is expected that total lithium battery demand next year will exceed 2700 GWh, with a year-on-year growth rate of over 30%, including a demand for energy storage batteries exceeding 900 GWh, potentially leading to shortages in the lithium battery market. Guosen stated that the company is a global leader in dynamic storage batteries. In 2021, the company's dynamic battery installations ranked among the top three in China, and by 2024, it is expected to rank among the top four globally. At the same time, the company is expediting its strategy for dual-drive business in dynamic power and energy storage, with the company's energy storage cell shipments reaching the fourth globally in the first half of 2025. Xiniu Securities indicated that with more capacity release in the future, an increase in new customers and direct supply proportion, the energy storage business is expected to maintain a high growth rate, achieving an annual shipment target of 45 GWh and reaching approximately 70 GWh next year, with an expected improvement in profit margins.