China Biomass Energy Stocks Surge; Zhuoyue Xinneng Hits Limit Up

The rally looks less like a domestic demand signal and more like a spillover from Thai policy speculation, which makes the breadth of the move notable: gains are spread across biomass names rather than concentrated in any single company with clear Thai exposure. That suggests positioning on a thematic read rather than company-specific fundamentals. The open question is whether Thailand's excise review actually translates into higher regional biofuel consumption, or whether the trade fades once the policy headlines stop.