301658, 20% daily limit-up! New energy sector, a full-scale breakout!

Today (March 11), A-shares continued to rise slightly, with the ChiNext Index opening higher and reaching a new high in over a month. The Shenzhen Component Index approached its highest point of the year, while the Shanghai Composite, CSI 50, and other indices also saw modest gains. The number of advancing stocks far exceeded decliners, and trading volume remained steady.

In the market, sectors such as new energy, infrastructure, black household appliances, and communication equipment led the gains, while aerospace equipment, environmental monitoring, petrochemicals, and rare metals declined.

High Prosperity in the New Energy Industry

The entire new energy industry chain strengthened across the board this morning, with photovoltaic equipment leading the rally. The sector index once surged over 4% on high volume, approaching its highest point of the year. Zhuhang New Energy (301658) hit the daily limit with a 20% increase, while Deyie Co., Ailuo Energy, and others also hit the limit or rose over 10%.

Indices for energy storage, sodium batteries, high-voltage fast charging, and other sub-sectors reached new historical highs. Companies like Sungrow Power Supply, Energy-saving Wind Power, Jinpu Titanium, and Chint Power saw their stocks hit the daily limit or rise over 10%.

Since 2026, the entire new energy chain—including photovoltaics, energy storage, power grids, and wind power—has been gaining momentum. The photovoltaic industry is driven by dual forces: on one hand, efforts to “counter internal competition” to clear supply and boost industry prosperity; on the other hand, space photovoltaics are becoming a new technological hotspot.

In energy storage, Xinluo Data shows that global energy storage battery shipments reached 640 GWh in 2025, an 82.9% increase year-over-year. Looking ahead to 2026, shipments are expected to reach 1,090 GWh, a 70% increase.

The power grid industry is experiencing global demand resonance. Domestically, the State Grid Corporation’s “14th Five-Year Plan” plans to invest 4 trillion yuan, while internationally, the three major regional grid operators in the U.S. have recently been approved for a total of $75 billion in transmission expansion projects.

Regarding wind power, the China Renewable Energy Society’s Wind Power Committee recently stated that during the “14th Five-Year Plan” period, China’s annual new installed capacity will not be less than 120 million kilowatts. By 2030, total installed capacity will reach 1.3 billion kilowatts; by 2035, no less than 2 billion kilowatts; and by 2060, 5 billion kilowatts.

Major Infrastructure Projects Announced in Clusters

Infrastructure stocks surged collectively this morning, with sector indices rising nearly 3% intraday, reaching a new high in nearly three years. China Energy Construction (China Energy) hit the daily limit with its stock price reaching a record high, having hit the limit twice in the past four days and increasing over 35% since March. Companies like Hui Lu Eco, China Power Construction, and others also saw significant gains.

Wind data from Wind shows that by midday, the infrastructure sector received net inflows of over 4.9 billion yuan from major funds, marking the 12th consecutive trading day of net inflows—currently the longest continuous inflow period for any sector.

In individual stocks, China Energy Construction received over 3.4 billion yuan in net inflows from major funds. China Power Construction, Guosheng Technology, China Railway Group, and China State Construction Engineering also saw net inflows exceeding 100 million yuan.

According to Wind statistics, by the end of February, 17 provinces and cities across the country had announced key engineering projects and investment plans for 2026. There are over 12,000 key projects with a total investment exceeding 32 trillion yuan.

In 2026, Beijing will focus on expanding effective investments, continuing to leverage the demonstration and leading role of the “Three 100” municipal key projects, with a total project investment of over 1.4 trillion yuan and an annual planned investment of about 312.8 billion yuan.

Shanghai plans to initiate 16 new major projects, with 184 formal projects and 14 preparatory projects scheduled for 2026. The plan includes 22 projects to be completed and an annual investment of 255 billion yuan, setting a new record high.

Guangdong has clarified plans to further expand effective investments in 2026, with 1,850 provincial key projects totaling about 8.6 trillion yuan, and an annual planned investment of 1.05 trillion yuan.

Proofreader: Zhao Yan