Hong Kong Stock Concept Tracking | New Energy Storage Welcomes Policy Benefits, Accelerating Demand Across Various Scenarios in the Industry Chain (Including Concept Stocks)

On February 17, the Ministry of Industry and Information Technology and eight other departments issued the "Action Plan for the High-Quality Development of the New Energy Storage Manufacturing Industry" to build a new generation of information technology and new energy growth engines, promoting the high-quality development of the new energy storage manufacturing industry. The plan proposes to promote the construction of friendly new energy power stations integrating new energy and intelligent control methods. It supports new energy storage to support large-scale consumption of renewable energy in areas rich in new energy, such as deserts, gobi, and barren lands, where local consumption capacity is low. It accelerates the promotion of shared storage, enhancing the auxiliary service capacity of storage for the power system. It encourages new energy storage to participate in the electricity market as an independent storage entity. It accelerates the promotion of grid-type storage applications, enhancing the support capacity of new energy storage for the stable operation of the power system, and accelerates the promotion of alternative storage in areas with tight land resources or remote locations, alleviating the investment pressure on transmission and transformation, and enhancing the power supply capacity at the end of the grid. According to statistics from GGII, it is reported that in 2024, China's lithium battery export orders for energy storage will exceed 120 GWh, mainly to the United States, Europe, Southeast Asia, and the Middle East, with the demand from European and American owners accounting for 73%. In terms of order shipment entities, orders above GWh are almost entirely captured by the top 10 companies. The third-party consulting agency InfoLink Consulting released the Top 10 rankings for overseas market energy storage cells in 2024, which are CATL, BYD, EVE Energy, Envision AESC, Ruipu Lanjun, Samsung SDI, Haicheng Energy Storage, Zhongchuang Xinhang, LG Energy Solution, and Guoxuan High-Tech. This list is the first in the industry to reflect the overseas market shipment situation of global energy storage companies. Guohai Securities released a research report stating that the economic drive of solar storage is transforming energy, with cost reductions stimulating the rigid demand explosion in the electricity shortage market. It is optimistic about the accelerated demand for energy storage in various scenarios against the backdrop of a new global energy era, focusing on the continuous high growth of installations in the traditional large storage market in China and the U.S. under the background of interest rate cuts, the gradual increase in non-U.S. regions, the continued prosperity of small storage in emerging markets, and the expansion of the touchpoints. At the same time, it pays attention to the investment opportunities derived from the transformation of data centers to AIDC, where energy storage mainly cooperates with new energy access or serves as part of backup power, which is expected to open up new growth space; maintaining a "recommended" rating for the energy storage industry. Related Hong Kong stocks in the energy storage sector: BYD (01211): Sun Huajun, CTO of Shenzhen BYD Lithium Battery Co., Ltd., revealed at the Second China All-Solid-State Battery Innovation Development Summit Forum that BYD will start mass demonstration applications of all-solid-state batteries around 2027 and achieve large-scale applications after 2030. Ruipu Lanjun (00666): The company's lithium battery shipments from 2021 to 2023 were 3.3, 16.6, and 19.5 GWh, respectively. In the first half of 2024, the company's lithium battery shipments increased by 108% year-on-year to 16.2 GWh, with power and storage each accounting for 7.6 and 8.6 GWh, respectively, up 316% and 45% year-on-year. The company's production capacity continues to be released, technology remains at the forefront of the industry, and the demand from major power and storage customers is growing, with subsequent battery shipments expected to continue to grow significantly China Innovation Aviation (03931): According to the China Automotive Power Battery Industry Innovation Alliance, from January to August 2024, the company's domestic power battery installations increased by 5.7% year-on-year to 20.23 GWh, ranking third with a market share of 6.99%, leading the fourth place by 3.09 percentage points