Venture(US:VEMLY) Mei Ri Jing Ji Xin Wen·2025-09-23 03:55Core Viewpoint - The demand for energy storage batteries is exceeding expectations, leading to improved profitability in the sector [1] Group 1: Energy Storage Battery Demand - The demand for energy storage batteries in China is being driven by compensation for electricity prices, resulting in a significant increase in demand [1] - Global energy storage battery demand is revised upward by 25% to 500-550 GWh for 2025, representing a year-on-year increase of 60% [1] - For 2026, global energy storage demand is expected to grow by over 35% [1] Group 2: Supply and Capacity Utilization - In 2025, the capacity utilization rate for energy storage batteries is projected to reach 86%, with new capacity being released in 2026 [1] - The overall industry capacity utilization is expected to remain at 82%, while leading companies may achieve rates of 85%-90% [1] Group 3: Pricing and Profitability - The price of energy storage is showing signs of recovery, with an increase of 0.01-0.03 yuan/Wh, leading to noticeable improvements in profitability [1] Group 4: Technological Advancements - The trend towards larger energy storage cells is expected to enhance stability, with an internal rate of return (IRR) potentially increasing by 8-10 percentage points under similar conditions [1] - The solid-state battery supply chain is experiencing technological breakthroughs, entering a critical testing phase, with mass production expected to begin in small scale by 2027 and large scale by 2030 [1] Group 5: ETF and Index Information - The ChiNext New Energy ETF (159387) tracks the Innovation Energy Index (399266), which selects listed companies involved in clean energy production, storage, and application [2] - The index focuses on companies with technological innovation capabilities and high growth potential, primarily in solar energy, wind energy, and electric vehicles [2]