中信证券：海外储能厂商式微，全球竞争格局有望重塑

Core Insights - The report from CITIC Securities indicates that the overseas energy transition is driving an increase in the share of renewable energy, which in turn boosts the demand for flexible adjustment resources in the energy storage market, particularly in Europe and the United States [1] - The domestic energy storage industry chain is seen to have significant advantages, with the global market share of battery cells and energy storage systems continuously rising [1] - Many overseas energy storage companies are highly dependent on the Chinese industry chain and are facing operational difficulties due to policy uncertainties [1] - The current timing suggests that there is notable investment value in the overseas energy storage market, with a recommendation to focus on leading manufacturers involved in battery cells, PCS (Power Conversion System), and system integration within the overseas energy storage industry chain [1]