① Which individual stocks in the Hong Kong stock market’s photovoltaic energy storage and new energy sector are receiving capital inflows despite the adverse market trend? ② With the industry entering its traditional peak season and supply-demand dynamics tightening, how do institutions view subsequent opportunities?
Cailian Press report on March 20 (Editor: Feng Yi) – The broader Hong Kong stock market continued to adjust today, but stocks in the photovoltaic energy storage and other new energy sectors bucked the trend and strengthened.
As of this writing, Shuangdeng Co., Ltd. (06960.HK) rose nearly 5%, CALB (03931.HK) increased over 4%, while CATL, Xinyi Solar (00968.HK), and a group of other individual stocks also followed with gains.
In terms of news, on March 16, Sungrow announced it had signed an energy storage system cooperation agreement with ENEVO Group, a leading Romanian energy solutions provider, with a total capacity scale reaching 1GWh.
Additionally, according to insider sources, SpaceX’s team under Elon Musk recently placed an equipment order with a leading domestic heterojunction device manufacturer, with delivery expected in the first week of May.
The above developments have once again highlighted the overseas competitiveness of China’s new energy industry chain. Some analysts believe that as shipments of photovoltaic and energy storage products accelerate alongside an increasing proportion of overseas orders, performance growth for some leading companies will continue to accelerate.
Huatai Securities further analyzed that a rush for exports is highly likely to occur in Q1 2026, after which overseas markets will enter a price hike phase. Additionally, referencing Tesla’s energy storage unit price of approximately 1.9 RMB/Wh, domestic energy storage products still hold significant room for price increases.
On the other hand, with the arrival of March, the energy storage sector has entered its traditional seasonal peak period, with production schedules hitting record highs and industry supply-demand dynamics tightening.
According to tracking research by GF Futures, from the perspective of lithium battery demand alone, power terminal charge capacities have shown significant increases, and leading energy storage enterprises are operating at full capacity. Downstream production remains resilient; material operations are projected to remain robust under rigid orders, with cell and material production schedules for March revised upward.
Dongwu Securities research also pointed out that following the introduction of national-level compensation tariffs for energy storage capacity, detailed implementation rules and lists are expected to be issued by various provinces, further boosting energy storage demand through enhanced coordination. The research also noted that recent advancements in U.S. data center energy storage projects, along with numerous projects in Europe and the Middle East, indicate strong demand for large-scale energy storage systems.


















