Group 1 - The report from Citi indicates that certain domestic battery companies will benefit from favorable policies, with CATL (300750) expected to see a profit growth rate of 37% year-on-year this year [1] - The target price for CATL's H-shares is set at HKD 535, and for A-shares at RMB 390, both with an "outperform" rating [1] - The National Energy Administration's latest storage policy reveals that an additional 100 GW of storage capacity will be added from 2025 to 2027, equating to 300 GWh, which is projected to drive an investment scale of RMB 250 billion over three years [1] Group 2 - The report anticipates that China will continue to advance energy storage construction, alleviating market concerns following the cancellation of mandatory renewable energy project storage policies earlier this year [1] - The company Zhongxin Innovation (03931), as the fourth largest electric vehicle and energy storage battery manufacturer globally, is expected to achieve an average annual compound growth rate of 76% in profits from 2025 to 2027, with a target price of HKD 38 and an "outperform" rating [1] - Ruipu Lanjun (00666), the fifth largest energy storage battery manufacturer globally, is believed to be on a recovery path, with a target price of HKD 14 and an "outperform" rating [1]