HK Stock Market Move | Lithium battery concept stocks collectively rebound, battery export tax rebate reduced, battery companies scrambling to increase battery production for exports.

Lithium battery concept stocks collectively rebounded. As of the time of release, Ganfeng Lithium Group (01772) rose 7.1% to HK$63.35; CALB (03931) rose 6.4% to HK$28.94; Tianqi Lithium Corporation (09696) rose 5.36% to HK$58; Contemporary Amperex Technology (03750) rose 1.28% to HK$491.4. On the news front, the Ministry of Finance and the State Administration of Taxation jointly issued an announcement adjusting the export tax rebate policy for photovoltaic and battery products, specifying a phased reduction and eventual cancellation of the export tax rebate rate for battery products starting from 2026. CITIC Futures pointed out that the market quickly traded to seize the export logic. The policy change has strengthened the market's expectations of a shift in short-term demand and an increase in downstream production. Although the long-term logic of future new energy and energy storage demand remains unchanged, under the stimulus of the news, lithium carbonate prices have surged strongly once again. It is reported that battery companies "rushed to export" before April to increase battery orders. Huatai believes that the short-term reduction in the export tax rebate rate will drive the rush to export batteries in 2026, exacerbating the supply and demand tension in lithium mines, lithium hexafluorophosphate and other links, and in the long term will promote the clearance of outdated domestic production capacity, optimize the industry structure of the battery industry, and benefit overseas capacity layout companies.