HK Stock Market Move | ZENERGY (03677) increased by over 5% in the first quarter as domestic lithium battery shipments saw a significant increase. The company is ramping up energy storage capacity construction to create a second growth curve.

ZENERGY (03677) rose more than 5%, as of press time, it rose by 5.35% to 8.08 Hong Kong dollars, with a turnover of 351.755 million Hong Kong dollars. On the news front, according to the data from HighGood Lithium Battery, the shipment volume of energy storage lithium batteries in China in the first quarter of 2026 reached 215GWh, an increase of 139% year-on-year. Currently, orders from leading enterprises have generally been scheduled to the end of 2026 to the second quarter of 2027. Capacity is in a saturated state and is beginning to prioritize accepting high-profit orders. Zhongjin Research Report pointed out that benefiting from good sales volumes of clients such as ZERUN and GAC Toyota, and the company's increased share of supporting orders, ZENERGY's lithium battery shipments in 2025 reached 19.82GWh, a year-on-year increase of +66.7%, achieving revenue of 7.79 billion yuan, a year-on-year increase of +59.7%. Continuing, Zhongjin points out that the energy storage market continues to rise, and the company is increasing its capacity to create a second curve. After the domestic "No. 136 Document," the economic efficiency of energy storage has improved, and overseas power shortages, AIDC construction, and the accelerated transformation of energy structure have jointly promoted the continuous rise in global demand for energy storage. Faced with the accelerated demand for energy storage, the company is increasing its energy storage capacity construction, signing an intention for a 50GWh large-capacity energy storage manufacturing project in the near future to meet various scenarios such as long-term energy storage and computing power centers. Considering the incremental growth of the energy storage business and the rise in battery prices, the company's revenue forecast for 2026 has been raised by 30% to 14.402 billion yuan.