Hormuz Strait Turmoil Detonates Energy Storage Sector, Zhongli Group Surges Three Consecutive Limits, Haitian Stock Hits Daily Limit

(Source: Caixin)

Institutions believe that the changes in the Strait of Hormuz could accelerate the global energy transition. The conflict may lead to disruptions in energy supply and rising prices, which could boost energy storage demand. It is expected that by 2030, the global new installed capacity for energy storage could reach over 1500 GWh.

On March 24, the energy storage sector opened high, with Zhongli Group (002309.SZ) hitting three consecutive limit-ups, Haitian Co., Ltd. (603759.SH) reaching the daily limit, and Cowell (688551.SH) rising over 10%. Youyou Green Energy (301590.SZ), Rongjie Co., Ltd. (002192.SZ), Yingkerui (300713.SZ), Tori New Energy (002218.SZ), and Beijing Keli (002350.SZ) also followed the gains.

In recent news, the ongoing geopolitical tensions in the Middle East continue to ferment. After Iran denied negotiations, international oil prices continued to rise. According to CCTV News, on March 24 local time, Iran reported that the US and Israel attacked two energy infrastructure sites located in Isfahan in central Iran and Khorramshahr in the southwest. It is said that the natural gas company building and gas pressure reduction station in Isfahan were attacked, with some facilities and nearby residences damaged.

Institutions believe that the developments in the Strait of Hormuz could accelerate the global energy transition. The conflict may cause disruptions in energy supply and higher prices, potentially boosting energy storage demand. It is projected that by 2030, the global new energy storage capacity could exceed 1500 GWh.

Guangfa Securities pointed out that escalating geopolitical conflicts favor the release of household storage demand, with global energy storage orders surging and Chinese companies accelerating their overseas expansion. The intensification of regional conflicts in the Middle East could lead to significant increases in global oil and gas prices, indirectly raising electricity prices. In the long term, this benefits household storage and backup power demand. Driven by household and large-scale storage needs, global energy storage orders are booming. According to incomplete statistics from the CESA Energy Storage Application Branch Industry Database, by February 2026, Chinese companies had secured 30 overseas energy storage orders with a total capacity of 35.71 GWh.

Huayuan Securities stated that the domestic market continues to see high growth in export orders. From January to February 2026, the production of lithium-ion batteries for energy storage in China increased by 84%. We believe that, besides the short-term boost from export tax rebate policies and improved overseas tariffs, factors such as increased penetration of new energy, improved business models, data center grid connection, and energy security will sustain the long-term prosperity of the energy storage sector.