天眼查显示，近日，上饶晶科能源伍号智造有限公司成立，法定代表人为陈经纬，注册资本1000万人民 币，由晶科能源股份有限公司全资持股。 企业名称上饶晶科能源伍号智造有限公司法定代表人陈经纬注册资本1000万人民币国标行业制造业>电 气机械和器材制造业>其他电气机械及器材制造地址江西省上饶经济技术开发区经开大道88号7栋上饶 综合保税区保税仓库企业类型有限责任公司（非自然人投资或控股的法人独资）营业期限2026-1-12至 无固定期限登记机关上饶市市场监督管理局 序号股东名称持股比例1晶科能源股份有限公司100% 来源：市场资讯 经营范围含光伏设备及元器件制造，光伏设备及元器件销售，货物进出口，技术进出口（除依法须经批 准的项目外，凭营业执照依法自主开展经营活动） ...

Core Viewpoint - The concept of "space photovoltaics" is gaining traction among major solar companies, with a focus on perovskite tandem solar cells as a potential game-changer in the space energy sector [1][3][11] Group 1: Industry Developments - HaiMoxing claims to be a core supplier of laser equipment for JinkoSolar and Trina Solar, actively collaborating on the development of perovskite tandem solar cells [1][13] - JinkoSolar's chairman, Li Xiande, emphasized the need to explore market opportunities in space photovoltaics, while Trina Solar's chairman, Gao Jifan, announced plans to accelerate the commercialization of perovskite technology [3][11] - The Starship rocket is theoretically capable of deploying 300-500 GW per year, with plans to launch 1 million tons of satellites annually, each providing 100 kW of AI computing power, potentially adding 100 GW of computing capacity each year [1][3] Group 2: Technical Advantages of Perovskite - Perovskite solar cells are lightweight, with a weight reduction of over 90% compared to gallium arsenide and 92% compared to crystalline silicon, allowing for significant cost savings in satellite launches [4][12] - The energy output of perovskite cells can reach 10-30 W/g, compared to 3.8 W/g for gallium arsenide and 0.38 W/g for crystalline silicon, making them a more efficient option for space applications [4][12] - Perovskite cells are less affected by environmental factors in space, which could enhance their stability and longevity compared to traditional materials [4][12] Group 3: Collaborations and Industry Alliances - HaiMoxing is deeply involved in R&D partnerships with leading solar companies, positioning itself to capture future market opportunities in perovskite technology [14] - Other companies, such as Junda Co. and Aerospace Hongtu, are forming strategic alliances to develop perovskite applications for space energy solutions [14] - A growing number of laser equipment manufacturers, including Dier Laser and Qinghong Laser, are making advancements in perovskite technology, indicating a competitive landscape in this emerging field [6][14] Group 4: Challenges Ahead - Despite the promising outlook, the large-scale application of perovskite technology in space photovoltaics faces significant challenges, including the need for extensive in-orbit data validation and the development of consistent packaging and aerospace-grade standards [9][18] - The path to achieving substantial orders and revenue contributions remains long for laser equipment manufacturers involved in this sector [18]

本文源自：市场资讯 作者：情报员 国家知识产权局信息显示，浙江晶科能源有限公司取得一项名为"光伏组件"的专利，授权公告号 CN119789546B，申请日期为2025年1月。 天眼查资料显示，浙江晶科能源有限公司，成立于2006年，位于嘉兴市，是一家以从事电气机械和器材 制造业为主的企业。企业注册资本271434.298547万人民币。通过天眼查大数据分析，浙江晶科能源有 限公司共对外投资了9家企业，参与招投标项目97次，专利信息2661条，此外企业还拥有行政许可35 个。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 ...

企查查APP显示，近日，上饶晶科能源伍号智造有限公司成立，经营范围包含：光伏设备及元器件制 造，光伏设备及元器件销售，货物进出口，技术进出口。企查查股权穿透显示，该公司由晶科能源全资 持股。 ...

Group 1 - The core point of the article is that Zhejiang Jinko Solar Co., Ltd. has obtained a patent for "solar cell and photovoltaic module," with the authorization announcement number CN120603379B, and the application date is August 2025 [1] - Zhejiang Jinko Solar Co., Ltd. was established in 2006 and is located in Jiaxing City, primarily engaged in the manufacturing of electrical machinery and equipment [1] - The company has a registered capital of 2,714.34 million RMB and has made investments in 9 enterprises, participated in 97 bidding projects, and holds 2,661 patent records, along with 35 administrative licenses [1]

Core Viewpoint - The Ministry of Finance announced the cancellation of export VAT rebates for photovoltaic products starting April 1, 2026, affecting 249 products, which may accelerate the exit of weaker companies and optimize industry capacity structure [1] Group 1: Market Reaction - The A-share "photovoltaic equipment" sector surged by 2.72% following the announcement, with notable increases in stock prices for major companies such as JinkoSolar (3.56%), LONGi Green Energy (4.57%), JA Solar (3.4%), Trina Solar (8.62%), and Tongwei Co. (2.11%) [1] Group 2: Financial Health of Leading Companies - Leading photovoltaic companies exhibit high asset-liability ratios, with JinkoSolar, JA Solar, Trina Solar, and Tongwei Co. all exceeding 70%, and JA Solar and Trina Solar nearing 78% [2] - As of Q3 2025, JinkoSolar reported an asset-liability ratio of 74.48%, LONGi Green Energy at 62.43%, JA Solar at 77.9%, Trina Solar at 77.99%, and Tongwei Co. at 71.95% [3] - JinkoSolar had cash and cash equivalents of 22.18 billion, with 5 billion restricted for guarantees, while LONGi Green Energy maintained a lower short-term borrowing of 300 million [5] Group 3: Accounts Receivable and Payable - The five leading companies collectively had accounts payable nearing 200 billion, with accounts receivable totaling approximately 72.3 billion, resulting in a significant payment demand [8] - The accounts receivable turnover days increased for several companies, with LONGi Green Energy at 69.31 days, JA Solar at 67.02 days, and Trina Solar at 82.38 days [7] Group 4: Profitability Challenges - All leading companies faced significant losses in the first three quarters of 2025, with JinkoSolar, LONGi Green Energy, JA Solar, Trina Solar, and Tongwei Co. reporting net losses of 4.543 billion, 4.454 billion, 3.453 billion, 4.315 billion, and 5.471 billion respectively [10] - The gross profit margins varied, with Trina Solar at 5.09% and JA Solar at -2.6%, indicating a wide disparity in profitability [11] Group 5: Debt Structure and Financing - Tongwei Co. had a notably high long-term debt of 53.78 billion, while JinkoSolar's financial expenses were relatively low due to favorable foreign exchange gains [12] - The actual controllers of LONGi Green Energy and Tongwei Co. had some share pledges, with LONGi at 14.62% and Tongwei at 28.36%, indicating potential financial constraints [14]

Group 1 - JinkoSolar's stock increased by 3.56% on January 12, with a trading volume of 1.559 billion yuan, and a net financing purchase of 6.2815 million yuan for the day [1] - As of January 12, the total margin balance for JinkoSolar was 1.085 billion yuan, which is 1.69% of its circulating market value, indicating a high level compared to the past year [1] - The company repaid 69,700 shares of margin loans and sold 352,800 shares on January 12, with a selling amount of 2.2582 million yuan, reflecting a high margin balance [1] Group 2 - As of September 30, JinkoSolar had 77,300 shareholders, an increase of 4.14%, while the average circulating shares per person decreased by 3.97% [2] - For the period from January to September 2025, JinkoSolar reported a revenue of 47.986 billion yuan, a year-on-year decrease of 33.14%, and a net profit attributable to shareholders of -3.92 billion yuan, a significant decline of 422.67% [2] Group 3 - JinkoSolar has distributed a total of 3.355 billion yuan in dividends since its A-share listing, with 3.125 billion yuan distributed over the past three years [3] - As of September 30, 2025, the second-largest circulating shareholder was Hong Kong Central Clearing Limited, holding 306 million shares, a decrease of 132 million shares from the previous period [3] - The sixth-largest circulating shareholder, E Fund's SSE STAR 50 ETF, held 147 million shares, down by 18.2429 million shares, while the eighth-largest, Huaxia's SSE STAR 50 ETF, held 141 million shares, a decrease of 7.88863 million shares [3]

Macroeconomic Insights - The US unemployment rate fell to 4.4% in December, down from a revised 4.5% in November, indicating a temporary halt in concerns over job market deterioration[11] - The US manufacturing PMI declined while the services PMI increased, reflecting mixed economic signals[7] - Consumer confidence in the US continued to recover in January, with inflation expectations slightly rising[7] Market Trends - Risk assets generally rose in the week of January 2-9, 2026, with major economies' stock markets and commodity prices increasing[7] - The 10-year US Treasury yield rose by 5.7%, while domestic 10Y government bond futures prices fell by 0.1%[7] - The dollar index increased by 0.7%, with the USD/CNY exchange rate at 6.98, indicating a slight appreciation of the yuan[7] Sector Performance - The AI application sector is expected to see significant growth, with a projected compound annual growth rate (CAGR) of over 35% for the AI industry and over 63% for the large model market[23] - The consumer electronics sector, particularly smart glasses, is experiencing rapid growth, with a projected 110% year-on-year increase in global shipments in the first half of 2025[38] Investment Recommendations - It is advised to overweight A/H shares due to multiple factors supporting Chinese equity performance, including an expected expansion of the fiscal deficit and a more aggressive economic policy[18] - Gold is recommended for overweight allocation due to its strong resilience and safe-haven attributes amid rising geopolitical uncertainties[20] - The report suggests a cautious approach to oil investments, recommending a lower allocation due to expected price pressures from geopolitical events and US policy directions[20]

1月9日，财政部、税务总局发布《关于调整光伏等产品出口退税政策的公告》，宣布自2026年4月1日起，取消光伏产品增值税出口退税。这意味着光伏 的"退税补贴时代"即将结束。 源：中华人民共和国财政部 出口退税指退返出口企业在国内缴纳的增值税，由于企业在海外国家还要缴税，为避免重复缴税，提振产品国际竞争力，中国自1985年开始实施出口退税 政策。 现行光伏产品的增值税出口退税的税率为9%。2024年11月15日，财政部、税务总局发布关于调整出口退税政策的公告称，2024年12月1日起，光伏产品出 口退税从13%下降至9%。 行业分析机构SMM分析，此次出口退税明确取消时间后，光伏产品尤其以光伏组件产品受到冲击最大，其主要影响为企业直接成本增加以及价格竞争力 度下降。"相当于每块210R组件，出口利润将减少46~51元/块，企业出口毛利率将被压缩，企业出口成本增加。"SMM光伏分析师郑天鸿表示。 中国光伏行业协会指出，自2024年以来，我国光伏产品在海外市场面临日益激烈的恶性竞争，出口价格持续走低，呈现"量增价减"态势。部分企业在出口 过程中，不仅低价竞争还将出口退税额折算为对外议价空间，导致原本用于对冲国内增值税 ...

电池产品的调整相对缓和，将从2026年4月1日起将退税率由9%下调至6%，并在2027年1月1日全面取 消。这一政策调整的背景是新能源行业面临的内外双重压力。 国内光伏与锂电池相关产品的全球产能占比已近绝对主导，光伏上游在全球产能中占比超95%、中游超 90%、组件超80%，锂电池则约占三分之二。 来源：新浪财经 财政部和国家税务总局日前宣布，光伏产品自2026年4月1日起，将全面取消增值税出口退税。这距离 2024年11月出口退税率从13%降至9%，仅一年有余。 根据中国光伏行业协会咨询专家的测算，仅2025年1-10月，中国光伏出口额为244.2亿美元，按9%的退 税率计算，涉及退税额约22亿美元（约153亿元人民币）。 中国光伏行业协会认为，部分企业在出口过程中，将出口退税额折算为对外议价空间，导致原本用于对 冲国内增值税负担的财政资金在议价环节被让渡给境外采购方。 政策调整对企业的影响程度，与其获得的出口退税额直接相关。在光伏组件四大厂商中，晶科能源2025 年上半年应收出口退税款期末账面价值达9.13亿元，位居首位。 天合光能2025年上半年应收增值税出口退税期初账面价值为0.21亿元，晶澳科技同期 ...