Venture(US:VEMLY) Mei Ri Jing Ji Xin Wen·2025-10-29 04:59Core Viewpoint - The new energy sector is experiencing significant growth, driven by improved Q3 performance of leading companies and supportive policy guidance, leading to a notable increase in the performance of the ChiNext new energy ETF [1] Group 1: Company Performance - The leading new energy company reported Q3 revenue of 22.869 billion yuan, a year-on-year increase of 20.83%, but a quarter-on-quarter decrease of 6.65% [1] - The company's net profit attributable to shareholders reached 4.147 billion yuan, marking a year-on-year increase of 57.04% and a quarter-on-quarter growth of 6.1% [1] - The revenue from the company's energy storage systems was approximately 11 billion yuan, indicating strong performance in this segment [1] Group 2: Policy Developments - The "14th Five-Year Plan" suggests a continuous increase in the proportion of new energy supply and emphasizes the promotion of high-quality development of clean energy [1] - On October 21, the Henan Provincial Development and Reform Commission solicited opinions on measures to promote high-quality development of new energy storage, with a target of 15 GW of cumulative installed capacity by 2030 [1] - The measures include key support for independent energy storage and encouragement for integrated source-grid-load-storage systems for high energy-consuming industries [1] Group 3: Price Trends - The price of electrolyte has risen significantly, reaching 98,000 yuan per ton as of October 27, up from 59,000 yuan per ton on September 28, indicating a price increase of 39,000 yuan [2] - The price of lithium iron phosphate cathodes has also increased from 34,900 yuan per ton on September 28 to 36,100 yuan per ton on October 27 [2] - The supply remains tight, and further price increases are expected due to strong demand and cost support [2] Group 4: Market Outlook - Dongwu Securities projects a 30-40% growth in large-scale energy storage demand in China over the next two years, driven by the gradual introduction of compensation electricity prices [2] - The demand for large-scale storage is expected to surge in emerging markets such as Europe and the Middle East, with a projected CAGR of 30-50% for global energy storage installations from 2025 to 2028 [2] - The recovery of shipments in Europe and the explosive demand for commercial storage are also contributing to a positive outlook for the energy storage market [2]