CITIC Securities: Suggests Watching Bottom-Laying Opportunities in the New Energy Sector

36Kr learned that a CITIC Securities research report stated, according to predictions by media outlets such as the Associated Press, the Democratic Party is expected to regain control of both chambers of Congress and secure at least 26 governorships in 36 state elections during the U.S. midterm election on November 3. If these media predictions prove accurate, CITIC Securities expects that aggressive short-term legislation in the U.S. will be difficult to implement, but the further restrictive path for new energy policies no longer exists. For the new energy sector, wind power has suffered the most damage in the past; CITIC Securities expects it to have the greatest elasticity for recovery in the future. Photovoltaics overseas policy bottom and domestic supply-demand bottom resonate, potentially ushering in a fundamental inflection point in 2027. Energy storage has the highest policy certainty, but the core narrative of AIDC energy storage is weakened by the Democratic Party itself, requiring a rational perspective. Overall, CITIC Securities believes that the policy bottom for the new energy sector has emerged, and 2026-2027 will be the window period for valuation repair, suggesting investors should lay at the bottom to capture investment opportunities in the new energy sector.