太空应用强化美国光伏自主可控诉求，海风与电网设备迎重大催化

Core Viewpoint - The report highlights the significant advancements in the space photovoltaic industry, emphasizing the strong demand for ground data centers and space computing, which aligns with the U.S. push for "self-controlled" photovoltaic solutions, thereby enhancing China's photovoltaic industry's competitive edge in the global market [1][2]. Sub-industry Weekly Core Insights Photovoltaics & Energy Storage - The resonance between ground data centers and space computing demand is noted, with the U.S. reinforcing its "self-controlled" photovoltaic demands, which will accelerate the growth of the space photovoltaic market, benefiting core equipment companies [2]. - Major companies in the photovoltaic supply chain are releasing annual performance forecasts, confirming a "performance bottom" in Q4 alongside improved asset quality, positioning them well for the anticipated recovery in 2026 [1][2]. Wind Power - The UK government announced the results of the AR7 offshore wind auction, totaling 8.4 GW of projects, exceeding market expectations of 6-7 GW, which strengthens the outlook for domestic supply chain exports amid capacity shortages in Europe [2]. Power Grid - The State Grid's investment plan for the 14th Five-Year Plan is set at 4 trillion yuan, a 40% increase from the previous plan, establishing a strong foundation for long-term domestic market growth [3]. - The aging infrastructure in North America is highlighted, with transformer explosions and calls for tech companies to cover data center electricity costs, reinforcing the need for grid upgrades [3]. Lithium Batteries - New regulations on battery recycling are set to take effect on April 1, 2026, emphasizing a "vehicle-battery integrated scrapping" system and establishing a digital identity for batteries [3]. - Fulin Precision plans to raise 3.175 billion yuan to enhance its lithium iron phosphate production capacity and advance its strategic positioning in the industry [3]. Hydrogen and Fuel Cells - Inner Mongolia has optimized the economic viability of green hydrogen projects with a 1.2x ratio and consumption agreements, indicating a nearing explosion in the hydrogen industry supported by strong policies [4]. - The sales of hydrogen vehicles are expected to surge in December, with projections for over 10,000 units sold in 2025, signaling robust growth in the sector [4]. Important Industry Events - JunDa Co. has officially launched investments related to space photovoltaics, expanding its product range from batteries to packaging materials [5]. - Strategic collaborations have been established between Dongfang Risheng and Shanghai Port for advanced photovoltaic technologies [5]. - The UK AR7 offshore wind auction results have been published, with a total capacity of 8.4 GW, surpassing expectations [5].