According to the CITIC Securities Research Report, the number of exhibitors at the ESIE Energy Storage International Summit in 2025 is basically the same. Many manufacturers are actively launching new high-capacity products, and new technologies such as solid-state batteries and power trading systems are frequently introduced. We believe that as National Development and Reform Commission Document No. 136 abolishes compulsory storage allocation, domestic energy storage will shift from cost priority to value creation, and energy storage system safety and electricity transaction capacity will gradually become the core of competition, driving up competition barriers in the industry. We are optimistic about the transformation of the energy storage industry from mandatory storage to active energy storage, driving the improvement of the competitive pattern of the industry, and focusing on recommending leading manufacturers in the battery, PCS, and integration links in the energy storage industry chain.

According to the CITIC Securities Research Report, the number of exhibitors at the ESIE Energy Storage International Summit in 2025 is basically the same. Many manufacturers are actively launching new high-capacity products, and new technologies such as solid-state batteries and power trading systems are frequently introduced. We believe that as National Development and Reform Commission Document No. 136 abolishes compulsory storage allocation, domestic energy storage will shift from cost priority to value creation, and energy storage system safety and electricity transaction capacity will gradually become the core of competition, driving up competition barriers in the industry. We are optimistic about the transformation of the energy storage industry from mandatory storage to active energy storage, driving the improvement of the competitive pattern of the industry, and focusing on recommending leading manufacturers in the battery, PCS, and integration links in the energy storage industry chain.