The "resilience" trio of new energy industry indices have gained over 54% in the past year

“Jinzhengyan” Qiming / Author

Recently, the 2026 Annual Conference of the China Development Forum opened in Beijing. At the conference, a relevant person from the National Energy Administration stated, “During the 14th Five-Year Plan,” the country will actively promote the development of diverse clean energy sources such as wind power, photovoltaics, nuclear energy, and biomass energy, on the basis of ensuring continuous and stable energy supply, forming a new energy system with multi-energy complementarity and strong risk resistance.

In addition, recent external factors causing oil prices to rise have further emphasized the importance of energy security. On the other hand, energy storage, as a key to addressing the intermittency and volatility of new energy, is shifting from commercial equipment upgrades to a “national strategic reserve” to ensure the resilience of the energy system. As the “main artery” connecting energy production and consumption, the power grid is the physical foundation for building a new power system, driving the accelerated development of ultra-high voltage, distribution network upgrades, and other projects.

1. Why does the new energy sector continue to heat up under the “trio” of wind, solar, and storage?

Recently, concept stocks related to new energy have continued to strengthen. As of March 25, 2026, several concept stocks such as China Min Energy, Ningbo Energy, Guangdong Power A, and Huadian Liaoning Energy hit the daily limit.

Among them, in the capital market, Huadian Liaoning Energy again hit the daily limit, closing at 8.34 yuan per share on March 25. According to data from Eastmoney Choice, since March 16, Huadian Liaoning Energy has experienced 8 limit-up days. Based on the closing price, the stock price has increased by 95.32%.

Zhi Guang Electric stated externally that recently, the proportion of energy storage orders from Europe is increasing, and leading brands are experiencing delivery delays of 4-5 weeks. The company is taking measures to meet European demand. Meanwhile, Sunshine Power recently announced on an interactive platform that it plans to invest in building a European manufacturing plant in Poland, with an annual capacity of 20GW of photovoltaic inverters and 12.5GWh of energy storage systems. The plant is currently in the preparatory stage. Localized production helps to be closer to customers, respond more effectively to market demand, and enhance supply stability in Europe.

Data shows that under the market conditions of supply shortages, energy storage market prices generally increased by 5% to 10% starting from February 2026.

Furthermore, at the 2026 Annual Conference of the China Development Forum, a relevant person from the National Energy Administration stated that the country will adhere to the integrated development of multiple energy sources to build a safe and resilient energy system. It was proposed that during the 14th Five-Year Plan, China will actively promote the development of wind power, photovoltaics, nuclear energy, biomass energy, and other diversified clean energies, forming a new energy system with multi-energy complementarity and strong risk resistance.

Earlier, on March 20, the Ministry of Industry and Information Technology and three other departments issued the “Implementation Plan for High-Quality Development of Energy-saving Equipment (2026-2028),” which proposes that by 2028, the efficiency levels of energy-saving equipment such as motors and transformers will reach international leading levels, and a number of AI-enabled energy-saving application scenarios will be developed. The plan emphasizes accelerating the update and renovation of energy-saving equipment and promoting enterprises to conduct energy-saving and carbon-reduction diagnostics on major energy-consuming equipment that has been in operation for over 10 years.

In addition, in terms of foreign trade, Europe’s energy security concerns have recently led to a “boom” in energy storage demand, with domestic energy storage companies accelerating overseas expansion. Data shows that by March 2026, Chinese energy storage companies had signed over 15 orders in Europe this year, totaling nearly 30GWh, making Europe the top destination for overseas expansion.

2. Dual growth in component stock performance and global deployment acceleration, CSI New Energy Index up over 54% in the past year

It is worth noting that the performance of related indexes in the new energy sector has been “bright” over the past year.

The CSI New Energy Index selects listed companies involved in renewable energy production, new energy applications, energy storage, and new energy interaction devices as its sample stocks, reflecting the overall performance of listed companies in the new energy industry.

Data shows that as of April 1, 2026, the index’s return over the past year was 54.58%, and in 2026, the index gained 4.6% year-to-date. In the short term, the CSI New Energy Index’s one-month increase was only -4.14%, mainly due to external factors such as rising oil prices.

As of April 1, 2026, the top ten constituent stocks of the CSI New Energy Index are CATL, Sunshine Power, TBEA, Longi Green Energy, EVE Energy, Huayou Cobalt, Ganfeng Lithium, China Nuclear Power, Goldwind, and Three Gorges Energy.

The combined weight of these top ten constituents is 41.3%, indicating a relatively high concentration. Additionally, in the secondary industry distribution, six companies are in power equipment, three in non-ferrous metals, and one in utilities.

In terms of performance, data from Eastmoney Choice shows that by April 1, 2026, many constituent companies had announced their 2025 annual financial reports. CATL, Sunshine Power, Ganfeng Lithium, EVE Energy, and Tinci Materials have all reported that their total operating revenue and net profit attributable to shareholders in 2025 exceeded those in 2024. Among those that have not yet announced full-year 2025 data, Zhongtian Electric, Huayou Cobalt, and Xiamen Tungsten, based on their third-quarter 2025 financial reports, also achieved double growth.

Notably, besides Sunshine Power’s plan to build a European manufacturing plant in Poland to meet European orders, in February 2026, CATL signed a strategic cooperation agreement with Ningde municipal government, planning a total investment of over 60 billion yuan to establish a global headquarters and “mother factory.”

Huayou Cobalt also mentioned in an investor Q&A on January 5, 2026, that it signed a “Ternary Precursor Supply Agreement” with LGES, committing to supply approximately 76k tons of ternary cathode precursors to LGES and its designated buyers from 2026 to 2030; signed a “Product Supply Framework Agreement” with EVE Energy, under which the Chengdu Bamo Hungary factory will supply about 127.8k tons of high-nickel ternary cathode materials during the agreement period; and signed a binding “Memorandum of Understanding” with a well-known international customer, agreeing that during the contract period, the company’s subsidiaries will supply 79.6k tons of ternary precursors to designated buyers.

Overall, the CSI New Energy Index has gained over 54% in the past year. Leading companies such as CATL, Sunshine Power, and Huayou Cobalt have not only achieved double growth in revenue and profit but are also actively expanding globally.

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