During the Labor Day, the prices of energy storage batteries have remained stable. From the demand side, in the first quarter, China added 3.91 million kilowatts/10.81 million kilowatt-hours of installed capacity, an increase of over 12% from the end of 2023. It can be seen that China's demand for energy storage is still growing. Looking ahead to the upcoming mid-year 630 grid connection preparations, downstream demand for energy storage cells is expected to increase rapidly. From the supply side, as some companies have already reduced their inventory to reasonable levels, and in preparation for downstream grid connection purchases, the production capacity of energy storage cell manufacturers has steadily increased. As for prices, due to the issue of overcapacity in the electric cell industry, it is expected that there may still be room for further price reductions in the future.
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