中国储能系统：专家电话会议要点：招标强劲与政策支持推动 V 型复苏-China ESS_ Expert call takes_ Tender strength and policy support to drive a V-shaped recovery

J P M O R G A N Asia Pacific Equity Research 20 September 2025 China ESS J.P. Morgan Securities (Asia Pacific) Limited/ J.P. Morgan Broking (Hong Kong) Limited Expert call takes: Tender strength and policy support to drive a V-shaped recovery We hosted an ESS expert from the CNESA (China Energy Storage Alliance) as part of our Transition Talks series. Key takes: 1) Despite a cliff-fall in ESS installations post May, tender activities are holding up due to local government incentive programs; 2) >10 province ...