Chinese battery stocks surge on bold national energy storage plan

Chinese battery stocks rallied on Monday, fueled by the announcement of an ambitious national energy storage roadmap aimed at accelerating clean energy infrastructure.

On Friday, China’s National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) jointly released a plan targeting over 100 GW of new energy storage capacity – primarily battery-based, excluding pumped hydro – by 2027. The initiative aims to expand the country’s total operating storage fleet to 180 GW and is expected to drive sector investment of approximately CNY 250 billion (around $35 billion).

Investor optimism surged following the announcement. As markets opened on Monday, shares of major battery storage suppliers jumped. CATL’s Hong Kong-listed shares surged as much as 10%, reaching their highest level since the company’s May 20 debut. Meanwhile, its Shenzhen-listed shares soared up to 14%, hitting a multi-year high.

Other major players also saw significant gains. CALB rose 14% in Hong Kong, while Rept Battero Energy climbed around 7%. HyperStrong, Sungrow, and Eve Energy also posted strong gains.

CATL’s rally was further supported by a bullish call from JPMorgan Chase & Co., which upgraded the stock to “overweight” based on its strong earnings outlook. In a note dated Sept. 14, analysts pointed to stronger-than-expected demand for energy storage systems and solid Q3 production plans.

As a result, JPMorgan raised CATL’s 2025–2026 earnings estimates by approximately 10%, marking the highest forecast on the Street. The bank also noted that CATL’s mainland-listed shares are currently the cheapest battery stock globally.