Energy storage stocks defied the broader market weakness today (August 11), with the New Energy Battery ETF (159071), managed by Huabao Fund and focused on storage, surging up to 2.6% in early trading. The fund maintained minor fluctuations in the afternoon, closing 1.65% higher, marking its third consecutive day of gains, with a total trading volume of 10.27 million yuan.

Component stocks were mixed, with Shenzhen Sinexcel Electric Co Ltd surging over 12%, Tongli Tianqi hitting its daily limit for a second consecutive day, Guoan Li and Kostal both rising over 7%, Deye gaining over 6%, Jinlang Technology and Sungrow Power Supply Co Ltd both climbing over 5%, and Peng Hui Energy and Xin Fengguang both advancing over 3%. Sealand Securities judges that the demand logic for energy storage has undergone a qualitative change, with supply-demand dynamics reversing. By the first half of 2026, the industry's driving force is expected to transition entirely from "mandatory storage allocation" to the market-based profit model established by "Document No. 114." According to statistics from ICC Xinluo Information, global energy storage system shipments in H1 2026 rose 87.9% year-on-year, while energy storage battery shipments increased 97.5%. The supply chain shifted from a capacity surplus in 2025 to a full-on shortage in H1 2026. Utilization rates for energy storage battery production capacity reached 92%-98%, inventory cycles compressed to 0.36 months, and spot market supply became extremely tight, with prices for mainstream 314Ah cells recovering from 0.32 yuan/Wh at the start of the year to 0.365 yuan/Wh by July. Competition is accelerating differentiation, with Chinese companies further solidifying their global dominance, and the focus shifting from "price wars" to "value wars." For the second half of 2026, three key directions may come into focus: power trading operations, breakthroughs in computational storage integration, and overseas residential storage deployment.

Dedicated to energy storage with high "storage content"! Energy storage facilities address the core issue of mismatch between power supply and demand. The surge in computing power electricity consumption, which is both massive and volatile, combined with the rapid and unstable growth of renewable energy generation, makes energy storage essential for smoothing power transmission—a "lifeline" of the era. The New Energy Battery ETF (159071) tracks the Guosen New Energy Battery Index, where electrical equipment accounts for over 80% of the weight, covering industries related to the upstream and downstream of new energy storage batteries. The top ten heavyweights, including Contemporary Amperex Technology Co Ltd (CATL), EVE Energy Co Ltd, Envicool, and Sungrow Power Supply Co Ltd, account for over 60% of the total index weight. Data source: Guosen Index, as of June 30, 2026. Data source: index company, Shanghai and Shenzhen stock exchanges. Fund fee note: Subscription and redemption agent institutions may charge commissions at a standard rate not exceeding 0.3%. On-exchange trading fees are subject to actual charges by securities companies. No sales service fee is charged.

Reference institutional viewpoint source: Sealand Securities, August 10, 2026, "Electrical Equipment and New Energy Industry 2026 Mid-Year Strategy Report: AI Computing Wave Drives Power Restructuring, Resonance of Lithium Battery Storage and Wind Power"

Risk Warning: The New Energy Battery ETF (159071) passively tracks the Guosen New Energy Battery Index. The index's base date is December 31, 2014, and its release date is February 16, 2015. The annual returns for the Guosen New Energy Battery Index from 2021 to 2025 were 58.83%, -14.83%, -33.42%, 8.81%, and 55.15%, respectively, with annualized volatility rates of 4.19%, 6.21%, 3.17%, 4.83%, and 4.27%. The composition of the index constituents is adjusted periodically according to the index's compilation rules. Its backtested historical performance does not predict the future performance of the index. The fund is issued and managed by Huabao Fund. Distributors are not responsible for the investment or redemption of the product. Investors should carefully read the fund's legal documents, such as the "Fund Contract," "Prospectus," and "Fund Product Information Summary," to understand the fund's risk-return characteristics and select products that match their own risk tolerance. The fund's risk level assessed by the fund manager is R3 - Medium Risk, suitable for balanced (C3) and above investors. Please refer to the sales institution for the appropriate matching opinion. Sales institutions (including the fund manager's direct sales and other sales institutions) will conduct risk assessments on the fund according to relevant laws and regulations. Investors should promptly pay attention to the suitability opinions issued by sales institutions and rely on the matching results. The suitability opinions of different sales institutions may not be consistent, and the fund product risk level assessment results issued by fund sales institutions shall not be lower than the risk level assessment results issued by the fund manager. The fund's risk-return characteristics and risk level in the fund contract may differ due to different considerations. Investors should understand the fund's risk-return situation and carefully choose fund products based on their own investment objectives, time horizon, investment experience, and risk tolerance, and bear the risks themselves. The registration of the fund by the China Securities Regulatory Commission does not imply a substantive judgment or guarantee of the fund's investment value, market prospects, or returns. The fund's past performance and its net value do not predict future performance. The performance of other funds managed by the same fund manager is not a guarantee of the performance of this fund. Funds carry risks; invest with caution!