Analysis of Yongtai Energy's Popularity: Driven by Explosive Energy Storage Business and Technological Breakthroughs

Yongtai Energy (600157.SH) rose by the daily limit of 9.82% to 1.79 yuan on November 14, 2025, with a turnover of 4.387 billion yuan and a turnover rate of 11.63%. Its popularity ranking jumped to the 6th place [0]. The company is an integrated energy enterprise mainly engaged in power and coal businesses, headquartered in Taiyuan City, Shanxi Province, with a current total market value of 39.054 billion yuan [0].

1. Explosive Growth of Energy Storage Business
   : The energy storage business’s revenue increased by 312% and net profit surged by 527% in the first three quarters of 2025, becoming the company’s biggest highlight [0]. This unexpected performance directly boosted market attention significantly.

2. Technological Breakthrough Progress
   : Major breakthroughs have been made in all-vanadium flow battery technology, with costs reduced to 40%-60% of the industry average. The stack energy efficiency exceeded 82% and passed the State Grid certification [0]. Technological advantages have established a significant competitive barrier for the company in this segment.

3. Marginal Improvement in Traditional Businesses
   : The power business’s electricity generation in the third quarter increased by 22.05% year-on-year, and the gross profit margin rose to 20.35% [0], indicating that the fundamentals of traditional businesses have improved somewhat.

4. Capital Support
   : It is heavily held by multiple power ETFs, with a position ratio of approximately 4.37%-4.38% [0]. Continuous allocation of institutional capital provides support for the stock price.

5. Sector Rotation Effect
   : The energy storage concept performed actively overall on November 14, 2025, with Yongtai Energy and 11 other energy storage concept stocks hitting the daily limit [0]. Sector rotation drove the performance of individual stocks.

: Yongtai Energy’s strategic transformation from a traditional coal-electricity integration enterprise to the energy storage technology field is showing results. The breakthrough in all-vanadium flow battery technology not only reduces costs but also passes authoritative certification, laying the foundation for commercial application.

: Although the energy storage business performed brightly, the company’s overall financial situation still faces challenges. The revenue in the first three quarters of 2025 was 17.728 billion yuan, the revenue in the third quarter was 7.052 billion yuan, a year-on-year decrease of 10.31%, and the net profit attributable to parent company was 71.953 million yuan, a year-on-year decrease of 73.78% [0], indicating that the pressure on traditional businesses still exists.

: The current market focuses more on the growth of the energy storage business and the imagination space brought by technological breakthroughs, while relatively ignoring the decline in the company’s overall profitability. This expectation difference may bring short-term trading opportunities but also contains risks.

• The profitability of traditional businesses continues to decline, with net profit in the third quarter decreasing by 73.78% year-on-year [0]
• Short-term debt pressure rises, which may affect the company’s operational stability
• Although the energy storage business grows rapidly, its base is relatively small, contributing limited to overall performance
• There are uncertainties in the commercialization process of technology; it takes time to verify from technological breakthrough to large-scale application

• The energy storage market has broad prospects, and policy support continues to increase
• The all-vanadium flow battery technology has obvious advantages and is expected to gain a leading position in the segmented market
• The Haizetan Coal Mine construction is expected to start trial production at the end of June 2026 [0], which will provide new growth points for traditional businesses
• Institutional capital allocation shows that professional investors recognize the company’s transformation prospects

The core logic of Yongtai Energy’s appearance on the popular list this time is the superposition of multiple positive factors: “explosive energy storage business + technological breakthrough + sector rotation”. The company is transforming from a traditional coal-electricity enterprise to an energy storage technology enterprise, and the unexpected performance of the energy storage business has become the focus of market attention.

From the fundamental perspective, the company shows obvious business differentiation: the energy storage business grows at a high speed but has a small base, while the traditional business has a large volume but faces profit pressure. Investors need to pay attention to the progress of commercialization of energy storage technology and the commissioning of the Haizetan Coal Mine project, which will be the key factors determining the company’s long-term value.

The current market sentiment is relatively optimistic, but investors should rationally view short-term fluctuations, focusing on the implementation effect and sustainability of the company’s transformation strategy. The imagination space brought by technological breakthroughs needs to be verified through performance growth. It is recommended to continuously track the order situation and commercialization progress of the company’s energy storage business.