Understanding the Market | SHUANGDENG shares rise over 9% as AIDC energy consumption surges, driving demand for energy storage; the company is a major supplier of energy storage for Alibaba's data centers

SHUANGDENG shares rose more than 9% again, as of the time of writing, up 9.18%, priced at HKD 24.74, with a transaction volume of HKD 54.9792 million. According to news, Eddie Wu previously stated at the Alibaba Cloud Summit that by 2032, the energy consumption scale of Alibaba Cloud's global data centers will increase tenfold. According to Shanghai Securities Journal, a relevant person in charge of SHUANGDENG recently explained to reporters that if AIDC energy consumption increases tenfold, it means that backup power demand will also roughly increase tenfold. More importantly, as the green electricity + energy storage model is gradually promoted in data centers, the scale of energy storage systems will far exceed that of traditional backup power scenarios, which is expected to open up broader development space for the company. It is reported that SHUANGDENG is a core target for AIDC energy storage, serving leading internet and data center operators such as Alibaba, JD.com, Baidu, GDS, and Qinhuai Data, and has become Alibaba's main supplier in data center energy storage. According to data quoted from the prospectus by Frost & Sullivan, the company ranks first in global communication and data center energy storage battery suppliers in terms of shipment volume in 2024, with a market share of 11%