Risen Energy(SZ:300118) Quan Jing Wang·2026-01-23 01:08Core Insights - The article highlights that Dongfang Risheng's HJT module, Vuxi Pro, has achieved a significant milestone by ranking among the top three globally in the TaiyangNews TOP SOLAR MODULES list, with a production power of 740Wp and a conversion efficiency of 23.8%, marking the highest power record in the history of the list [1] - The global photovoltaic module industry is transitioning from scale expansion to a focus on quality and efficiency, with conversion efficiency becoming a key competitive factor that directly influences market share and profitability [1] - The TOP SOLAR MODULES list employs strict criteria for inclusion, ensuring that only high-quality products with a conversion efficiency of at least 21.5% are considered, thus providing a reliable benchmark for assessing core competitiveness in the industry [1] Company Performance - Dongfang Risheng's Vuxi Pro module integrates key technologies such as 0BB busbarless design, stress-free interconnection, and ultra-thin silicon wafers, achieving both performance and cost-effectiveness improvements [2] - The company has demonstrated a high bifacial rate of 90%±5% and a low temperature coefficient of -0.24%/°C, leading the industry in various application scenarios, showcasing its product adaptability and reliability [2] - By the end of 2025, the cumulative shipment of the Vuxi series HJT products is expected to exceed 12GW, with sales in over 80 countries, reflecting strong market recognition and global competitiveness [2] Strategic Expansion - Dongfang Risheng is expanding its strategic vision to include the space sector, aiming for a dual-track development approach of "ground + space," which is expected to uncover new growth opportunities for the company [2] - The company's strategic move into the space sector is supported by its advanced technology reserves and commercialization capabilities, including the mass delivery of a 50μm ultra-thin p-type HJT battery, which is highly compatible with flexible solar wings for low Earth orbit satellite internet energy systems [3] - The development of perovskite/silicon heterojunction stacked solar cells with a conversion efficiency of 30.99% lays a solid foundation for future breakthroughs in space photovoltaic efficiency [3] Industry Trends - The commercial space sector is gaining significant attention in global capital markets, with companies like SpaceX advancing their IPO plans, indicating a robust market environment for related industries [3] - Domestic policies are increasingly supportive of the aerospace sector, with the "14th Five-Year Plan" emphasizing the cultivation of strategic emerging industries, which is expected to accelerate the commercialization of frontier scenarios like space data centers [3][4] - Dongfang Risheng's strategic partnership with Shanghai Port focuses on the research, validation, and industrialization of perovskite + p-type heterojunction battery stacking technology in the space energy field, aligning with national aerospace strategies and capitalizing on the explosive growth of the commercial space industry [4]