Huatai Securities: Promote the marketization of the electric power industry, and the domestic large-scale energy storage market is seeing a new opportunity.

Huatai Securities research report stated that since the cancellation of mandatory storage requirements in the "136 Document," the market has been relatively pessimistic about the demand for domestic energy storage after the rush for 531 installations. However, the actual installation in June and the bidding data in June and July were better than previous expectations. Huatai Securities believes that this is mainly due to the introduction of supporting policies, especially local supporting policies that have improved the economic viability of independent energy storage projects, leading to emerging market demand. At the same time, there may be a lag in the implementation of existing projects from earlier planning. Huatai Securities believes that short-term local support policies are an important driving factor. In the long term, under the marketization of the electricity market, the profit model of domestic energy storage is expected to become clearer, and demand will become more market-oriented. Huatai Securities is optimistic about the continuous growth of domestic large-scale energy storage demand and its move towards high-quality development.