中信证券：储能产业盈利拐点显现 电改之下持续受益

Core Insights - The storage industry is gaining significant market attention due to overseas demand recovery, price increases, and the realization of turning points, along with the new energy storage "doubling plan" providing continuous support for installations [1] Industry Summary - In the medium term, as the electricity reform process accelerates, energy storage is transitioning from a cost item to a profit item, with the continuous improvement of capacity compensation mechanisms providing a profit "safety net" for energy storage [1] - In the long term, the construction of capacity market mechanisms will effectively plan installations for various market participants, including energy storage, and clarify revenue expectations, potentially becoming the next focus of electricity reform [1] - The capacity market is viewed as an effective supplement to the electricity trading system, and proactive measures should be taken in anticipation of future developments [1]