Sungrow Power Supply(SZ:300274) Xin Lang Cai Jing·2025-08-21 08:59Core Viewpoint - The A-share market shows a mixed trend, with the Shanghai Composite Index reaching a nearly 10-year high, while the Battery 50 ETF (159796) experiences a decline after four consecutive days of gains, indicating a potential shift in investor sentiment [1][3]. Market Performance - The Battery 50 ETF (159796) saw a net subscription of 34 million units despite a drop of over 1% on the day, suggesting strong investor interest even amid market corrections [1]. - Major component stocks of the Battery 50 ETF mostly experienced declines, with leading stocks like Sungrow Power (down 2.93%) and CATL (down 0.07%) contributing to the overall downturn [3][4]. Industry Insights - According to InfoLink, global energy storage system shipments are projected to reach 167.1 GWh in the first half of 2025, marking an 85.7% year-on-year increase, with Sungrow Power leading the market [6]. - The domestic energy storage market is witnessing active independent storage bidding, with July 2025 showing a year-on-year increase of 13% in new installations, indicating robust demand [7]. - Chinese manufacturers are leveraging their production advantages to expand into overseas markets, particularly in Europe and emerging markets, enhancing their market share [8]. Competitive Landscape - A recent initiative by the China Chemical and Physical Power Industry Association aims to maintain fair competition in the energy storage sector, with 149 companies, including major players like BYD and Yiwei Lithium Energy, participating [8]. - The initiative is expected to improve profitability across the industry by preventing irrational pricing behaviors, indicating a strong consensus on addressing competitive pressures [8].