Group 1 - Morgan Stanley has set a target price of 180 RMB for Suyuan Electric (002028.SZ) and 650 HKD for CATL H-shares (03750), with a target price of 520 RMB for CATL A-shares (300750.SZ), all rated as "Overweight" [1] - Suyuan Electric and CATL have signed a three-year memorandum of cooperation for energy storage, targeting a collaboration of 50 GWh [1] - Morgan Stanley believes this cooperation indicates Suyuan Electric's intention to expand its energy storage system business, potentially generating approximately 20 billion RMB in annual revenue if capacity is fully realized [1] Group 2 - Although Suyuan Electric's current energy storage business scale is relatively small, its market share is continuously expanding [1] - The company's relationships with grid operators and renewable energy operators facilitate cross-selling of power equipment and energy storage solutions [1] - Suyuan Electric's foundation in super-capacitors also aids in the development of differentiated energy storage products [1] Group 3 - For CATL, while the contract size is not particularly significant compared to its overall business volume, the collaboration with Suyuan Electric is expected to further solidify CATL's position in the energy storage market [1]