Zhongjin: The demand for the energy storage industry in 2026 remains relatively high.

Zhongjin believes that the demand for energy storage industry in 2026 will remain strong, mainly for the following reasons: 1) The growth logic of energy storage demand remains unchanged. On one hand, the global energy transition trend continues, and the increasing proportion of wind and solar installations relies on the construction of the grid and energy storage. On the other hand, the logic of AI data centers facing power shortages is still present, and more AI storage projects are expected to emerge next year; 2) The three major markets of China, the United States, and Europe have large energy storage tenders and planned projects; emerging energy storage demands in the markets of the Middle East, India, Australia, and Chile are on the rise; 3) The demand for residential and commercial energy storage remains strong, and the logic of power shortages in emerging markets remains unchanged.