Since the beginning of this year, the new energy track has been subject to shock adjustment, and the energy storage sector has seen an obvious correction. According to the data, as of the closing on January 25, the energy storage concept index closed down 3.25%, and only Shenzhen Capchem Technology.Ltd(300037) of the 35 constituent stocks rose slightly by 1.19%; The remaining 34 closed down to varying degrees, East Group Co.Ltd(300376) , Guangzhou Great Power Energy&Technology Co.Ltd(300438) , Shenzhen Sinexcel Electric Co.Ltd(300693) and other stocks fell by more than 5%.
From the market performance in the past month (from December 25, 2021 to January 25, 2022), 7 of the 35 constituent stocks rose and 28 fell, with an average yield of – 6.23%. Among them, Ginlong Technologies Co.Ltd(300763) rose 21.33%, Ningbo Deye Technology Co.Ltd(605117) rose 15.13%, Jiangsu Linyang Energy Co.Ltd(601222) fell 22.18%, Gotion High-Tech Co.Ltd(002074) fell 19.66%, Shenzhen Center Power Tech.Co.Ltd(002733) fell 19.40%, and several stocks such as Beijing Sinohytec Co.Ltd(688339) – u, Pylon Technologies Co.Ltd(688063) , Eve Energy Co.Ltd(300014) fell more than 10%.
In the medium and long term, under the guidance of China’s “double carbon” goal, energy storage will become an important technical support in the process of building a new power system with new energy as the main body in the future. The organization believes that the space growth of energy storage market is clear. Debang Securities said that the energy revolution drives the increase in energy storage demand, and energy storage will become a super track in the future.
According to different forms of energy storage, generalized energy storage includes electric energy storage, thermal energy storage and hydrogen energy storage. According to different storage principles, it can be divided into electrochemical energy storage and mechanical energy storage. Among them, electrochemical energy storage mainly includes lithium-ion battery, lead-acid battery and sodium sulfur battery. At present, electric energy storage is the main energy storage mode, and its industrial chain includes upstream raw materials, midstream component manufacturing, and downstream system operation and application.
The cost of energy storage system is mainly composed of battery and converter, and the proportion of battery is heavier. At present, power lithium battery enterprises with lithium iron phosphate as the main technical route are becoming the main force of energy storage and installation due to their certain development in technology, cost and production capacity. Shanxi Securities Co.Ltd(002500) it is predicted that in the next five years, the installed capacity of China’s new energy storage will have 10 times the growth space. According to the data of GGII (high tech lithium battery), with the increase of policy support for new energy storage, the establishment of commercialization mechanism of power market, the clarity of energy storage business model and the continuous decline of lithium battery cost, it is predicted that the shipment volume of China’s energy storage lithium battery will reach 58gwh and the market scale will exceed 55 billion yuan in 2025. Among them, the cumulative shipment of electric energy storage lithium batteries, as the main application field, will exceed 60gwh during the 14th Five Year Plan period.
Since January this year, a number of listed companies have disclosed the layout and progress of energy storage business on the interactive platform. Sunwoda Electronic Co.Ltd(300207) said that the company’s energy storage business focuses on lithium battery energy storage integration and application technology, focusing on power grid energy storage, industrial and commercial energy storage, household energy storage, network energy and comprehensive energy service business. Risen Energy Co.Ltd(300118) said that at present, the company’s energy storage sector has applied the relevant technology of “optical storage, direct and flexible” and shipped in small quantities. Shengyang power said that the new energy storage business is the focus of the company’s “14th five year plan” development strategy. Facing the opportunities and opportunities of energy transformation and development, the company focuses on smart energy storage and plans to expand and strengthen the energy storage business in the future.
The agency believes that with the development of policies, technological progress and the continuous renewal of products, the cost of all links of the energy storage industry chain is expected to show a downward trend, which will drive the upward trend of the whole energy storage industry chain. Anxin Securities believes that from the national top-level design to the policies issued by local provinces and cities, energy storage has become an important means to solve the energy reform. 2022 is the year of large orders for energy storage, and the enterprises that take the lead in obtaining orders are expected to occupy the first mover advantage. Enterprises with the ability to obtain orders and expand their scale are able to meet the further expansion of the market. Sealand Securities Co.Ltd(000750) believes that the market demand for energy storage is determined, and it is optimistic about the leading enterprises of lithium iron phosphate battery and enterprises related to energy storage converters that benefit from the expected growth of electrochemical energy storage.
