Global energy storage maintains high prosperity; 23 concept stocks report positive earnings

Securities Times Reporter Liang Qiangang

On March 31, at the opening ceremony of the 14th International Energy Storage Summit and Exhibition, the China Energy Storage Alliance (CNESA) released the “Energy Storage Industry Research White Paper 2026” (hereinafter referred to as the “White Paper”), which shows that by the end of 2025, China’s new energy storage installed capacity will surpass 100 GW, accounting for more than two-thirds of the country’s total power storage capacity, and the share in the global new energy storage market will exceed 50% for the first time, reaching 51.9%.

The White Paper predicts that from 2024 to 2035, the global cumulative installed capacity of battery storage will surge by 8 to 17 times. The global energy storage installation pattern will shift from being dominated by China, the United States, and Europe to gradually expanding into regions such as India and the Middle East.

CNESA expects that after an initial explosive growth phase, the industry will enter a period of growth rate adjustment. From 2026 to 2030, the compound annual growth rate (CAGR) under conservative and ideal scenarios is approximately 20.7% and 25.5%, respectively. Although the relative growth rate has slowed, the absolute increase will still remain high.

Liu Deshun, Chief Engineer of the National Energy Administration and Director of the Department of Energy Conservation and Technology Equipment, stated, “During the 14th Five-Year Plan period, new energy storage will become the main carrier for adding flexible regulation capacity to the power system. At the same time, the rapidly developing new energy storage industry also faces some challenges, such as the need to improve market mechanisms and project management standards, and further enhance the maturity of certain storage technologies.”

Regarding the future market situation of energy storage batteries, Huang Feng, President of ChuNeng New Energy Co., Ltd., pointed out that from 2026 to 2027, energy storage batteries will be relatively tight, with supply and demand being the decisive factors. Huang analyzed that China accounts for over 90% of global battery production and sales; in 2025, China’s battery sales are estimated at about 600 GWh (according to company estimates). Since the second half of the year, there has been a “battery shortage” situation, with actual capacity exceeding 500 GWh. Based on an industry average growth rate of 35%, demand this year is expected to reach 800 GWh to 850 GWh, putting pressure on the entire market.

Guosen Securities stated that global energy storage demand is being driven by both domestic and overseas factors: domestic policies on electricity prices are triggering a surge in market orders; in the U.S., surging data center loads are causing power shortages, accelerating large-scale storage installations; Europe’s unstable power grid combined with high natural gas prices is stimulating demand for household and industrial-commercial storage.

Dongwu Securities believes that at the national level, capacity compensation electricity prices have been introduced, U.S. data center storage continues to promote growth, and many projects are underway in Europe and the Middle East, leading to strong demand for large storage. Besides Australia’s household storage policies, the UK and Poland are also increasing subsidies for household storage, entering a new growth cycle. Commercial storage continues to grow, and it is expected that global energy storage installations will increase by over 60% in 2026.

In terms of performance, according to Securities Times Data Treasure, based on the lower limit of 2025 annual reports, performance briefings, and forecasts (using the announcement figures if no lower limit is provided), 23 energy storage concept stocks are expected to see year-over-year growth in net profit attributable to the parent company in 2025 (including turning losses into profits). Four stocks have turned losses into profits: Enjie Shares, Sanyuan Shares (rights protection), Penghui Energy, and Gudewei.

Enjie Shares expects its net profit attributable to the parent company in 2025 to be between 109 million and 164 million yuan, turning profitable year-over-year. The company stated that since the third quarter last year, demand for lithium battery separator membranes has continued to grow, and benefiting from improved supply-demand dynamics, the prices of separator products have gradually stabilized, with some prices rebounding.

Among non-loss-making stocks, Leading Intelligent, Tinci Materials, and Ruitai New Materials have high growth rates in net profit attributable to the parent company. Leading Intelligent achieved a net profit of 1.56B yuan in 2025, a year-over-year increase of 446.58%. During the reporting period, the company helped several global top-tier enterprises complete GWh-level energy storage project deliveries, with a leading order scale in the industry.

On the capital side, Data Treasure statistics show that as of the close on March 31, 15 energy storage concept stocks had net financing inflows exceeding 100 million yuan since March, including BYD, Shangneng Electric, Baichuan Shares, Xinwanda, and Putailai.

BYD had the highest net financing inflow since March, totaling 1.91 billion yuan. In terms of energy storage, the company launched a new generation Haohan energy storage system, equipped with the world’s largest 2710Ah dedicated blade battery, achieving a breakthrough in energy density. Huajin Securities’ research report believes that BYD is a leading enterprise in the global new energy vehicle industry, with fast-charging driving a comprehensive upgrade of its product matrix, and a new cycle of technology and product development.

(Source: Securities Times)