中信证券：BC电池产能扩张有望提速

Core Viewpoint - The report from CITIC Securities indicates that the resolution of technical issues and increasing end-user demand are expected to accelerate the capacity expansion of BC batteries [1] Group 1: Technology and Product Development - Longi Green Energy recently held a BC 2.0 launch event, introducing the upgraded Hi-MO 9 module, which is expected to achieve a mass production efficiency of 24.8% and a comprehensive power output of 670W [1] - Compared to TOPCon modules, the new product represents an improvement of 1.5% in efficiency and an increase of 40W in power output, which will enhance energy generation by 8-11% and reduce BOS costs by 11-22 cents/W [1] Group 2: Market Outlook and Investment Opportunities - BC technology is viewed as the most promising next-generation photovoltaic technology, with a favorable industrial environment emerging [1] - Leading BC battery module companies are accelerating their capacity expansion, with expectations for BC to experience rapid growth from 1 to 10 by 2025 [1] - Investment opportunities are suggested in the areas of battery modules, equipment, and auxiliary materials [1]