HK Stock Market Move | SUN.KING TECH (00580) rose more than 13% in early trading, the outlook for the energy storage industry is rising, which is expected to drive demand for power semiconductors.

SUN.KING TECH (00580) rose more than 13% in the morning session, and as of the time of writing, it has risen by 11.5% to HKD 2.23 with a turnover of HKD 30.6585 million. On the news side, according to Securities Times, as of the end of September, China's new energy storage installed capacity has exceeded 100 million kilowatts, an increase of more than 30 times compared to the end of the "13th Five-Year Plan". The installed capacity accounts for more than 40% of the global total installed capacity, ranking first in the world. Galaxy Securities released a research report stating that the energy storage industry is on an upward trend and is expected to drive demand for power semiconductor. Zhongtai International pointed out that SUN.KING TECH's self-developed semiconductor business revenue in the first half of the year was RMB 53 million, a year-on-year increase of 227.4% and a month-on-month increase of 23.8%, benefiting from the growth in orders, especially in the energy storage and SVG fields. The bank pointed out that during the "15th Five-Year Plan" period, the ultra-high voltage projects mainly focus on flexible transmission technology, and Saic Crystal is the leading domestic supplier of transmission and distribution electrical components, with sufficient orders in hand and steady income growth; the increase in the localization rate of transmission and distribution electrical components is conducive to supporting gross profit margin; at the same time, benefiting from the increase in the penetration rate of domestically-produced power semiconductors, self-developed IGBT chip business revenue has experienced explosive growth.