HK Stock Market Move | Lithium battery concept stocks stage a strong rebound; institutions expect lithium battery companies may rush exports, with Q4 sales expected to remain on an upward trend.

Lithium battery concept stocks staged a strong rebound. As of press time, Contemporary Amperex Technology (03750) rose 6.38% to HK$360; CALB (03931) rose 4.18% to HK$13.46; ZENERGY (03677) rose 4.18% to HK$3.615; Ganfeng Lithium Group (01772) rose 2.67% to HK$22.32. On the news front, in September, China's power and energy storage battery sales totaled 222.7GWh, down 0.2% month-on-month and up 52.0% year-on-year. Sealand pointed out that the month-on-month decline in September power and energy storage battery sales was mainly due to a 3.7% month-on-month drop in energy storage battery sales, of which energy storage battery exports fell 11.9% month-on-month. The bank believes this is a short-term delivery rhythm disturbance rather than weakening overseas demand. Looking ahead to Q4, affected by the export tax rebate policy, lithium battery companies may rush exports, and Q4 lithium battery sales are expected to remain on an upward trend. Huaxi stated that the lithium battery sector has undergone a relatively full correction, and the market's concerns about the magnitude of demand growth in the second half of the year and next year have gradually been reflected in share prices. As market expectations are subsequently repaired, the top pick is lithium battery leader Contemporary Amperex Technology, which has a solid moat and an advantageous position across the upstream and downstream industrial chain; secondly, segments with relatively tight supply-demand dynamics, such as copper foil and separators, have stronger support for price increases.