Core Viewpoint - CATL has launched the world's first mass-produced 9MWh large-capacity energy storage system solution, TENER Stack, marking a significant milestone in the energy storage sector, following the release of the 6.25MWh system in 2024 [1][4]. Group 1: TENER Stack Features - TENER Stack utilizes high energy density cells with a five-year zero degradation characteristic, achieving a 50% increase in energy density and a 45% improvement in volume utilization compared to traditional 20-foot container systems [4]. - The system's large capacity allows for significant economic benefits, reducing the number of containers needed for an 800MWh storage capacity by nearly one-third and improving land utilization efficiency by 40%, leading to a 20% reduction in overall power station construction costs [4]. Group 2: Transportation and Safety Enhancements - TENER Stack features a "Two in One" modular design that keeps the weight of each half-height container below 36 tons, complying with transportation regulations in 99% of global markets, and reducing special transportation costs by 35% [5]. - The system has upgraded safety standards, with a fire resistance of up to 2 hours and enhanced gas sensor sensitivity by 40%, improving the response speed of suppression systems by 35% [6]. Group 3: Market Performance and Trends - In 2024, CATL ranked first globally in energy storage battery shipments, with energy storage system revenue reaching 57.3 billion, accounting for 15.83% of total revenue, and a gross margin of 26.84%, which is higher than the 23.94% margin of the power battery business [7]. - The market is seeing a trend towards larger capacity energy storage systems, with multiple companies, including CATL, launching 6MWh+ products, indicating a shift towards these systems as the core direction for market products [8].