Venture(US:VEMLY) Mei Ri Jing Ji Xin Wen·2025-12-09 02:35Core Insights - The domestic demand for energy storage continues to grow rapidly, with a year-on-year increase of 19.3% in power and 28.41% in capacity for the first nine months of 2025, indicating that annual domestic demand may exceed expectations [3] - The wholesale forecast for electric passenger vehicles in November is estimated at 1.72 million units, reflecting a month-on-month increase of 20% and a year-to-date growth of 29% [3] - The overseas demand for energy storage remains strong, with continuous breakthroughs in China's energy storage export orders, driven by surging demand in the U.S. and a moderate recovery in Europe [3] Domestic Energy Storage Market - The domestic energy storage installation capacity reached 31.77 GW and 85.11 GWh in the first nine months of 2025, maintaining high growth despite a high base effect [3] - The strong demand for energy storage is supported by rising prices of energy storage cells, indicating robust downstream demand [3] Lithium Battery and Raw Materials - The demand for lithium carbonate is expected to improve due to stable growth in downstream power demand and rising energy storage needs, alongside supply-side disruptions from domestic and overseas lithium mining operations [4] - The lithium battery industry is projected to benefit directly from the growth in energy storage installations, with an expected shipment volume of 473 GWh by 2026, reflecting a year-on-year growth rate of 22% [3][4] Investment Opportunities - The energy storage industry is experiencing a favorable supply-demand dynamic, with leading battery companies operating at full capacity, suggesting sustained industry prosperity [4] - Investors are encouraged to monitor the performance of New Energy Vehicle ETFs (159806) and ChiNext New Energy ETFs (159387) as potential investment opportunities [4]