Unhidea explains global investment research, selected interviews and market briefs. Explore source attribution, dates, key assumptions and the reasoning behind each article.
Energy storage drove quarter-on-quarter growth in third-quarter battery shipments. Management is optimistic about demand for power and energy storage batteries in 2027, while JPMorgan maintains its Underweight rating and is watching the impact of tax changes on margins.
J.P. Morgan ·
A higher contribution from overseas customers improved the third-quarter gross margin; the company raised its 2027 shipment targets, and Nomura consequently revised its earnings forecasts upward. But the tax burden, dilution from the trading business and cash spending on capacity expansion are constraints, while industry policy pressure also prompted Nomura to lower its valuation multiples.
Nomura ·
Management expects power battery shipments to double and energy storage shipments to grow by more than 50% in 2027. Citi is positive on large cylindrical battery and overseas energy storage orders, but capacity ramp-up, tax cost sharing and earnings quality will determine how much growth translates into profit.
Citi ·
