Energy storage concept stocks experienced significant gains. At the time of writing, CALB (03931) rose by 8.36% to HK$29.04. CATL (03750) increased by 7.09% to HK$589. ZENERGY (03677) was up 5.31% to HK$8.72. REPT BATTERO (00666) advanced 3.86% to HK$15.89. SHUANGDENG (06960) jumped 8.89% to HK$13.11.

The surge follows recent positive developments. CATL disclosed better-than-expected annual results, reporting full-year revenue of 423.7 billion yuan, a year-on-year increase of 17.04%. Net profit reached 72.2 billion yuan, surging 42.28% compared to the previous year. Notably, the company's energy storage battery sales volume hit 121 GWh, growing 29.13% year-on-year. According to SNE Research, CATL has maintained its position as the global leader in energy storage battery shipments for five consecutive years as of 2025.

On the policy front, this year's government work report reiterated the commitment to "develop new types of energy storage" and included "computing-power coordination" as part of new infrastructure projects. Analysis suggests that under this new computing-power coordination model, the synergistic development of related industries such as energy storage, smart grids, data centers, and green power operations could create a market increment of at least trillions of yuan.

Guosen Securities pointed out that global demand for energy storage is steadily increasing. Domestically, the introduction of an energy storage capacity price policy is driving explosive growth in market-driven orders. In the United States, power supply shortages caused by data center loads are boosting demand for large-scale storage installations. Europe's grid instability and rising natural gas prices are also fueling energy storage demand. Furthermore, emerging markets are frequently introducing government support policies, which are expected to significantly increase energy storage installation requirements.