Group 1 - The core viewpoint of the news highlights the strong performance of CATL, with significant increases in both A-shares and H-shares, driven by robust export figures and market potential in the energy storage sector [1][2] - CATL's chairman reported that the company's lithium battery exports reached 120 GWh, accounting for nearly 60% of China's total lithium battery exports of around 200 GWh [1] - The total export value of the "new three items" exceeded 900 billion yuan, with lithium batteries contributing nearly 400 billion yuan, representing over 40% of the total [1] Group 2 - CITIC Securities predicts a substantial growth in global energy storage installations, estimating an addition of approximately 290 GWh by 2025 and a potential reach of 1.17 TWh by 2030 [1] - The report from Credit Lyonnais indicates concerns regarding potential sell-offs due to the expiration of the cornerstone investor lock-up period for CATL's Hong Kong IPO on November 20, but does not foresee a significant price correction [2] - Credit Lyonnais maintains a bullish outlook on CATL, expecting a recovery in stock prices driven by strong global energy storage system development and improved battery supply-demand dynamics by 2026, reaffirming their target prices for both A-shares and H-shares [2]

行家说储能 昨日，行家说储能 报 道了" 超200GWh大单！海博思创与宁德时代签重要合作"（ 点这里 ），今日又有两家储能企业最新订单消息。 据行家说储能获悉，远信储能、阿特斯先后官宣拿下GWh级储能项目合作，合计规模超9.4GWh。其中，远信储能的储能项目合作量达 7.56GWh，主要位于 智利及其他潜力市场；阿特斯则拿下加拿大约1.86GWh的单体储能项目。 项目 ▋ 远信储能：拿下 1.89GW/7.56GWh储能 近日，远信储能与拉美知名能源开发企业签署战略合作协议，双方将在智利及其他潜力市场共同推进储能项目的开发、建设与运营。 据协议，远信储能将作为首席技术与服务伙伴，为 1.89GW/7.56GWh 的储能项目提供一体化解决方案与全生命周期支持。未来，双方还将在技术标准、供 应链布局、质量管控与投融资架构等方面深化战略协同，构建长期稳定的合作机制。 ☆ 点击 星标 ， 第一时间掌握前沿趋势 图为：远信储能与拉美知名能源开发企业签署战略合作协议，源于远信储能 该订单是远信储能2025年公开披露的首个拉美地区项目。当前，拉美储能市场正迎来高速增长，据伍德麦肯兹预测，至2034年该地区储能总规模预计将 ...

另外，摩根大通在最新中国锂行业报告中，罕见地承认了此前的误判，并宣布将天齐锂业和赣锋锂业的评级从"减持"上调至"中性"。此举标志着摩根大通对 锂市场基本面的重大修正，摩根大通表示，核心在于此前严重低估储能(ESS)市场的爆发性需求。摩根大通预计，全球锂市场在2025和2026年仍将面临供应 缺口。这一判断迫使该行将2026年锂价预测从人民币7万元/吨大幅上调至9万元/吨，涨幅近30%。 行业消息面上，自10月14日至11月10日，碳酸锂期货价格持续上涨，累计涨幅达20%。据了解，近期磷酸铁锂行业生产积极性高涨，头部材料厂多处于满产 甚至超产状态。业内人士称，目前这种供需两旺的态势有望延续至年末。 格隆汇11月13日｜港A市场锂矿概念股进一步拉升，其中，天齐锂业A股涨近10%，逼近涨停报59.5元，H股涨近10%报56.45港元。 3分钟便捷开户，把握投资先机！长江证券三大尊享福利>> ...

Group 1: Market Performance - Hong Kong lithium stocks showed strong performance in early trading, with Tianqi Lithium rising by 5.73% to HKD 54.4 and Ganfeng Lithium increasing by 5.90% to HKD 56.5 [1][3] Group 2: Analyst Ratings and Market Outlook - JPMorgan Chase acknowledged a previous misjudgment in the Chinese lithium industry and upgraded the ratings of Tianqi Lithium and Ganfeng Lithium from "underweight" to "neutral" [6] - The upgrade reflects a significant revision of JPMorgan's outlook on the lithium market fundamentals, primarily due to the underestimated explosive demand from the energy storage (ESS) market [6] - JPMorgan forecasts a supply shortage in the global lithium market for 2025 and 2026, leading to a substantial increase in their 2026 lithium price prediction from RMB 70,000/ton to RMB 90,000/ton, a nearly 30% increase [6] - The battery analyst at JPMorgan expects global energy storage battery shipments to grow by 30% year-on-year in 2026, reaching approximately 770 GWh, driven by policy incentives and ongoing deployment of grid-level projects [6] - This growth in energy storage is anticipated to create an additional demand of 140,000 to 165,000 tons of lithium carbonate equivalent (LCE) [6] - CITIC Securities is optimistic about the opportunities arising from the unexpected growth in energy storage, which will positively impact lithium battery and material shipments and prices [6] - They project a year-on-year increase in domestic and overseas power battery demand of 16% and 20% respectively, with global power battery demand reaching 1,559 GWh, a 17% increase year-on-year [6]

摩根大通电池分析师预计，在政策激励和电网级项目持续部署的支持下，2026年全球储能电池出货量将 同比增长30%，达到约770GWh。正是考虑到储能带来的额外14-16.5万吨碳酸锂当量(LCE)需求，摩根 大通才将其对锂市场的中期供需预测从过剩扭转为短缺。此外，中信建投（601066）表示，看好储能超 预期增长带来的锂电电池和材料端出货量和价格上修带来的机会。预计2026年国内、海外动力电池需求 分别同比+16%/20%，全球动力电池需求1559GWh，同比+17%。 锂业股早盘走强，截至发稿，天齐锂业（002466）(09696)涨4.76%，报53.9港元；赣锋锂业（002460） (01772)涨4.5%，报55.75港元。 消息面上，摩根大通在最新中国锂行业报告中，罕见地承认了此前的误判，并宣布将天齐锂业和赣锋锂 业的评级从"减持"上调至"中性"。此举标志着摩根大通对锂市场基本面的重大修正，摩根大通表示，核 心在于此前严重低估储能(ESS)市场的爆发性需求。摩根大通预计，全球锂市场在2025和2026年仍将面 临供应缺口。这一判断迫使该行将2026年锂价预测从人民币7万元/吨大幅上调至9万元/吨，涨幅 ...

摩根大通电池分析师预计，在政策激励和电网级项目持续部署的支持下，2026年全球储能电池出货量将 同比增长30%，达到约770GWh。正是考虑到储能带来的额外14-16.5万吨碳酸锂当量(LCE)需求，摩根 大通才将其对锂市场的中期供需预测从过剩扭转为短缺。此外，中信建投表示，看好储能超预期增长带 来的锂电电池和材料端出货量和价格上修带来的机会。预计2026年国内、海外动力电池需求分别同比 +16%/20%，全球动力电池需求1559GWh，同比+17%。 智通财经APP获悉，锂业股早盘走强，截至发稿，天齐锂业(09696)涨4.76%，报53.9港元；赣锋锂业 (01772)涨4.5%，报55.75港元。 消息面上，摩根大通在最新中国锂行业报告中，罕见地承认了此前的误判，并宣布将天齐锂业和赣锋锂 业的评级从"减持"上调至"中性"。此举标志着摩根大通对锂市场基本面的重大修正，摩根大通表示，核 心在于此前严重低估储能(ESS)市场的爆发性需求。摩根大通预计，全球锂市场在2025和2026年仍将面 临供应缺口。这一判断迫使该行将2026年锂价预测从人民币7万元/吨大幅上调至9万元/吨，涨幅近 30%。 ...

每经记者｜孙磊 每经编辑｜程鹏 余婷婷 "最近一两周跟我们所有的电池厂商老板都喝过酒了！"11月6日晚，小鹏汽车董事长何小鹏在接受《每日经济新闻》记者采访时，对当下动力电池的产能 现状颇为感慨。 据记者了解，今年四季度我国动力电池厂商的产能供给趋紧，产能利用率达到高位，车企们纷纷出招"抢"电池，无论是三元锂还是磷酸铁锂电池。 车fans创始人孙少军表示："最近，供应链配货是大问题，尤其是宁德时代这样的核心供应商。各品牌要货时间特别紧张，现在都是拼人脉的时候了。"此 外，还有媒体报道称，数家中国车企的采购人士集中到宁德时代总部销售办公室"堵门"，以期锁定电池产能。对此，记者向宁德时代方面求证，截至发稿 未获置评。 图片来源：每经记者 梁枭 摄 资料图 政策调整刺激订单增长 消费者扎堆年底提车 有分析认为，新能源汽车销量持续走高，市场对后市预期乐观，同时叠加四季度是传统销售旺季，以及购置税减免政策即将退坡等多方因素的关联与共 振，合力引爆了车企的"囤电"大战。 中汽协数据显示，今年1至10月，我国新能源汽车产销量分别完成1301.5万辆和1294.3万辆，同比增长逾三成；10月新能源汽车月度新车销量更是首次超过 ...

图片来源：每经记者 梁枭 摄 资料图 政策调整刺激订单增长，消费者扎堆年底提车 "最近一两周跟我们所有的电池厂商老板都喝过酒了！"11月6日晚，小鹏汽车董事长何小鹏在接受《每日经济新闻》记者采访时，对当下动力电池的产能 现状颇为感慨。 据记者了解，今年四季度我国动力电池厂商的产能供给趋紧，产能利用率达到高位，车企们纷纷出招"抢"电池，无论是三元锂还是磷酸铁锂电池。 车fans创始人孙少军表示："最近，供应链配货是大问题，尤其是宁德时代这样的核心供应商。各品牌要货时间特别紧张，现在都是拼人脉的时候了。"此 外，还有媒体报道称，数家中国车企的采购人士集中到宁德时代总部销售办公室"堵门"，以期锁定电池产能。对此，记者向宁德时代方面求证，截至发稿 未获置评。 储能市场需求火热，产业链形成"反向虹吸" 业内认为，储能市场对锂电池需求的激增，是造成"动力电池再度趋紧"的另一大关键因素。"国内乘用车动力电池主要是（磷酸）铁锂（电池），铁锂电 芯产能虽大但储能项目集中放量，导致阶段性挤占车用资源。"刘运程告诉记者，"铁锂目前的问题是虽然总量上充足，但很多产线被抽去做储能。" 就储能市场的表现，张金惠告诉记者："储能（市场）在 ...

Core Viewpoint - Rui Pu Lan Jun (00666) has seen a significant stock price increase of over 6%, currently trading at 15.23 HKD with a transaction volume of 158 million HKD, driven by the booming global energy storage demand [1] Industry Summary - The global energy storage market is experiencing high growth, with demand expected to surge. By the first half of 2025, large-scale battery cells are projected to achieve full production and sales, with leading manufacturers operating at over 80% capacity utilization, some nearing 90% [1] - Following the cancellation of mandatory energy storage policies in China, independent energy storage demand is rapidly increasing, with an anticipated annual growth rate of 30% to 40%. In the U.S., project growth is expected to be around 40% ahead of installation rushes, while Europe and emerging markets are maintaining growth rates of 1 to 2 times [1] - The strong expansion in battery demand is leading to continuous full-capacity operations among battery manufacturers [1] Company Summary - According to ICC Xinluo Energy Storage Database, Rui Pu Lan Jun achieved over 50 GWh in energy storage battery shipments from January to September 2025, positioning itself among the top global energy storage battery suppliers [1] - In the household energy storage segment, Rui Pu Lan Jun holds the largest market share in the supply of 100Ah battery cells, thanks to stable partnerships with leading integrators such as Mai Tian Energy, Si Ge New Energy, and GoodWe [1]

Core Viewpoint - The report from Citic Lyon indicates that the second supply order for energy storage systems (ESS) from Tesla to a South Korean battery manufacturer may appear unfavorable for CATL, but the strong growth of the global energy storage market suggests that CATL alone cannot meet market demands [1] Group 1: Market Growth - The report highlights the robust growth of the global energy storage market, which is expected to continue [1] - It is suggested that CATL's influence in the market is not as negative as it may seem, given the overall market expansion [1] Group 2: Tesla's Energy Storage Business - The report assumes that Tesla's energy storage business will grow at a compound annual growth rate (CAGR) of 19% from 2026 to 2030 in the U.S. energy storage market [1] - The inclusion of Samsung Electronics and LG Energy in the market dynamics indicates increased competition and potential for market share shifts [1]