从地面到太空，这一材料更“为轨道而生”丨每日研选

Core Insights - Perovskite materials are evolving from a photovoltaic technology term to a key investment theme across multiple sectors, particularly in aerospace and satellite systems where energy supply is a primary challenge [1] - The perovskite industry is accelerating towards commercialization, with significant advancements in production efficiency and stability, marking 2025 as a pivotal year for capacity expansion [1][2] - Technological breakthroughs are crucial for industry expansion, with perovskite cell efficiency surpassing 27% and flexible perovskite cells achieving 20.3% efficiency [1] Industry Expansion and Technological Breakthroughs - The photovoltaic industry is experiencing a phase of oversupply, leading to a market fatigue regarding pure technological iterations [2] - Perovskite materials are uniquely suited for orbital energy systems due to their lightweight, high power-to-weight ratio, and flexibility, which can significantly reduce launch costs and adapt to various deployment mechanisms [2] - The ability of perovskite materials to quickly form films at low temperatures and their self-healing properties under radiation damage make them ideal for harsh space environments [2] Investment Opportunities - Investment logic around perovskite materials should focus on two main lines: the certainty of equipment demand from technological iterations in the photovoltaic sector and the incremental market opportunities from high-performance, flexible components for new applications like space [3] - Core production equipment suppliers are expected to benefit first from the capacity construction phase [3] Focus Areas for Investment - Core process equipment providers, such as JinkoSolar, JingShan Light Machinery, Maiwei Co., and Aolide, are positioned to benefit from the capacity construction cycle [4] - Mass production pioneers and material companies, like GCL-Poly and BOE Technology Group, that have achieved scale production or are involved in key material layouts [5] - Technology integrators and scene developers, which are actively engaging in perovskite business and possess strong engineering and integration capabilities, may accelerate the realization of new applications [5]