Lithium battery concept stocks experienced a broad surge. At the time of writing, CATL (03750) rose 8.7% to HKD 712.5. GANFENGLITHIUM (01772) increased by 5.48% to HKD 82.75. BYD COMPANY (01211) advanced 4.29% to HKD 111.9. TIANQI LITHIUM (09696) gained 3.34% to HKD 55.65. The positive movement is attributed to the lithium battery industry displaying a "busier-than-expected off-season" characteristic in the first quarter of 2026. According to the latest data from the China Automotive Battery Innovation Alliance, cumulative sales of power and energy storage batteries in China from January to March reached 437.1 GWh, a year-on-year increase of 52.9%. Notably, sales of energy storage batteries surged 111.8% compared to the same period last year. Furthermore, production of power and energy storage batteries in China also grew by 49.3% year-on-year during the same period. Looking ahead to the second quarter of 2026, Great Wall Securities released a research report stating that demand for power and energy storage batteries is expected to maintain rapid growth both year-on-year and quarter-on-quarter. With the market price of lithium carbonate rebounding above CNY 150,000 per tonne and robust downstream demand, the industry chain is anticipated to enter a price increase cycle. Additionally, the price of separators may gradually rise, approaching a critical inflection point for supply and demand.