CICC Power Equipment & New Energy Biweekly: Anhui Sets Energy Storage Capacity Price; State Grid Announces UHV Tender Results
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CICC's power equipment and new energy biweekly highlights improving industry momentum. Lithium battery chain production scheduling rose 10-20% quarter over quarter in 3Q26, in line with expectations; the 2% battery consumption tax levied from September may pressure near-term battery profitability, but medium- to long-term recovery is expected, pending 1Q27 production verification. Wind installations reached 6.19GW in 8M26, up 48.4% year over year; 9M26 wind tenders totaled 16.9GW, up 126% year over year and 216% month over month, with Q4 offshore wind tenders seen as an elastic demand driver. PV main-chain prices held steady, with polysilicon output expected to fall about 13% in October; earnings recovery depends on demand absorption. Anhui introduced a capacity price of RMB165/kW/year for independent storage—further rollout of Document 114 policies should promote independent storage in more provinces—and State Grid's UHV equipment tender awards totaled roughly RMB3.652 billion. Alibaba Cloud targets over 20GW of global data centers by 2032; Tesla's Optimus output has risen about tenfold in recent months to hundreds of units weekly. Picks: CATL (top pick), CALB, EVE Energy, Goldwind, Sany Renewable Energy, Orient Cable, and SEER Group.
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