Longi(SH:601012) Zheng Quan Ri Bao·2025-12-10 16:30Group 1 - The core viewpoint is that the significant rise in silver prices is putting substantial cost pressure on the photovoltaic (PV) industry, with silver prices reaching historical highs and a projected increase in silver demand for PV applications [1] - The World Silver Association forecasts that global silver demand for photovoltaic applications will reach 7,560 tons by 2025, doubling from three years ago and accounting for over 25% of total silver demand [1] - The rising silver prices are severely impacting the profitability of the battery cell manufacturing segment within the PV industry, with silver paste costs exceeding 30% of the total cost of battery cells and over 50% of non-silicon costs [1] Group 2 - In response to the challenges posed by rising silver prices, PV companies are actively seeking technological breakthroughs to reduce silver usage [2] - Shanghai Aiko Solar Energy Co., Ltd. has developed copper interconnection technology to mitigate costs, which has become increasingly advantageous as silver prices rise [2] - Longi Green Energy Technology Co., Ltd. has made significant advancements in silver-free metallization technology, achieving a record efficiency of 27.81% for HIBC cells, and plans to further integrate equipment, materials, and processes to enhance engineering maturity [2] Group 3 - The main challenge in the application of low-silver pastes lies in the reliability verification and market acceptance of these materials [3] - Concerns exist regarding the potential impact of copper core exposure on the efficiency and reliability of battery cells, which directly affects the quality and performance of solar modules over their lifecycle [3] - There is a noticeable time lag between technological breakthroughs in low-silver pastes and their commercial scalability, which may hinder their widespread adoption [3]