Energy storage battery production increased by 84% in the first two months; 12 concept stocks have been surveyed by funds this year.

Securities Times Reporter Liu Junling

On March 17, the energy storage sector was active, with many stocks rising against the trend. Among them, NaBaiChuan, ShunNa Shares, Chint Power, GCL System Integration, etc., hit the daily limit, while Yicheng New Energy, Li New Energy, Helen Tech, and Sanhui Electric rose over 4%.

Energy Storage Battery Production Surges

On March 16, the National Bureau of Statistics released data on the national economic operation for January-February 2026, showing that lithium-ion battery production increased by 42.6%, and lithium carbonate production grew by 29.3%. Notably, lithium-ion batteries for energy storage increased by 84%. A spokesperson for the National Bureau of Statistics stated that China’s green energy transition has been steadily advancing, with significant results. The development of wind and photovoltaic new energy has driven the growth in energy storage demand, leading to rapid growth in related products.

Since 2026, the energy storage market has performed exceptionally well. According to data from the Energy Storage Application Branch of the China Chemical and Physical Power Industry Association, in the first two months, domestic new energy storage installed capacity reached 9.51 GW/24.18 GWh, with year-on-year increases of 182.07% in power and 472.06% in capacity. The bidding market has also been active; in February 2026, new energy storage bidding (including pre-bidding) reached 15.5 GW/53.9 GWh, with increases of 94.1% in power and 73.3% in capacity year-on-year.

Recent demand explosion in energy storage is mainly driven by two factors: the surge in AI computing power creating new application scenarios, and a phased overseas market rush to install.

On one hand, AI infrastructure has become a significant new driver for energy storage. Data centers consume enormous amounts of electricity, and energy storage helps “peak shaving and valley filling,” effectively smoothing electricity loads, reducing costs, and providing emergency support for critical loads. The large-scale development of data centers is expected to open new growth space for the energy storage market.

On the other hand, the export rush to install energy storage provides strong short-term support. Earlier this year, the Ministry of Finance and the State Taxation Administration issued a notice on adjusting export tax rebate policies for photovoltaic and other products, prompting lithium battery companies to accelerate production and deliver overseas orders ahead of schedule. According to the Battery Alliance, in the first two months of this year, China’s exports of power and energy storage batteries totaled 48 GWh, a 24.6% increase year-on-year, with energy storage batteries accounting for 13.5 GWh, or 28% of total exports.

New Energy Storage as a New Pillar Industry

This year, new energy storage continues to receive policy support. The government work report proposed “focusing on building a new power system, accelerating smart grid construction, developing new energy storage, and expanding green electricity applications.”

At the April 6th session of the 14th National People’s Congress, Zheng Ganjie, Director of the National Development and Reform Commission, explicitly listed new energy storage as one of the “Six Emerging Pillar Industries.” The industry’s strategic importance in China’s energy transition is increasingly highlighted.

Policy mechanisms for the energy storage industry are also continuously improving. In January, the National Development and Reform Commission and the National Energy Administration issued a notice on improving the capacity electricity price mechanism, proposing the establishment of an independent capacity electricity price mechanism for new energy storage on the grid side. It clarified that independent new energy storage power stations on the grid could be compensated with capacity prices based on local coal power capacity prices, filling the market’s revenue mechanism gap.

The “Special Action Plan for Large-Scale Construction of New Energy Storage (2025–2027)” set a clear goal of exceeding 180 GW of installed capacity nationwide by 2027, with direct project investments of about 250 billion yuan, providing a clear growth outlook.

With policy support, new energy storage has achieved leapfrog growth. According to data from the Zhongguancun Energy Storage Industry Technology Alliance, China’s cumulative newly installed capacity of new energy storage in 2025 first exceeded 100 GW, reaching 144.7 GW, an 85% increase year-on-year, and the total installed capacity is 45 times that at the end of the 13th Five-Year Plan.

12 Stocks Surveyed by Fund Companies

According to Securities Times Data Treasure, there are 57 A-share stocks involved in the energy storage industry chain, with an average increase of 11.76% since the beginning of the year. Bichuan Shares, Chint Power, and Shenling Environment have the largest gains, at 99.44%, 73.48%, and 51.15%, respectively.

As the industry develops rapidly, concept stocks related to energy storage continue to attract institutional attention. Data shows that this year, 12 stocks have been surveyed by fund companies, with Tianci Materials, Zhongwei New Materials, and Haopeng Technology leading, with 35, 16, and 9 fund companies respectively.

During investor surveys, Tianci Materials stated that the pace of new capacity expansion for lithium hexafluorophosphate is mainly based on market demand and market share goals. The originally planned 35,000 tons of new capacity is currently progressing as scheduled, expected to be operational in the second half of 2026.

Zhongwei New Materials indicated that it has built a 200,000-ton capacity for lithium iron phosphate; for lithium iron phosphate cathode materials, it has a capacity of 50,000 tons, and has gradually built an integrated layout from upstream resources to downstream materials to ensure supply chain stability and enhance cost advantages.

Forty energy storage stocks have released 2025 performance data, with 24 achieving year-on-year growth (including turning losses into profits). Stocks like Lead Intelligent, Tianci Materials, Ruitai New Materials, Haopeng Technology, Gotion High-tech, and Pylon Technologies have growth rates exceeding 100%.

Many companies in their earnings forecasts mention the high prosperity of the energy storage industry. Kelon Electronics stated that the industry is developing rapidly, and the company has seized strategic opportunities, with significant increases in energy storage project deliveries, boosting revenue. Shanshan Shares noted that its anode material business benefits from strong downstream demand from new energy vehicles and energy storage markets, and the continued release of integrated capacity has led to a significant increase in sales year-on-year.

(Edited by: Wang Zhiqiang HF013)

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