Maxwell(SZ:300751) Xin Lang Cai Jing·2026-02-14 10:16Core Viewpoint - The "space photovoltaic" concept has significantly boosted the wealth creation potential in the secondary market, as evidenced by the substantial share reduction announcement from leading photovoltaic equipment company Maiwei Co., Ltd. (300751.SZ), indicating a daily profit potential of 1 billion yuan [1][10]. Share Reduction Announcement - On February 13, Maiwei Co., Ltd. announced that its controlling shareholders, Zhou Jian and Wang Zhenggen, reduced their holdings by approximately 5.4 million shares, accounting for about 1.93% of the total share capital, between January 29 and February 12, 2026 [1][2]. - Zhou Jian sold 2.7 million shares at an average price of 318.75 yuan per share, cashing out approximately 860 million yuan, while Wang Zhenggen sold 2.699 million shares at an average price of 320.71 yuan per share, totaling around 866 million yuan [1][2]. Stock Performance - Since November 2025, Maiwei Co., Ltd. has seen its stock price increase by 285.60%, with a peak price of 373.00 yuan per share on January 26, 2026, leading to a market capitalization exceeding 100 billion yuan [3][12]. - However, as of February 13, 2026, the stock price closed at 284.47 yuan per share, reflecting a decline of over 20% since January 28, 2026 [9][18]. "Space Photovoltaic" Concept - The inclusion of Maiwei Co., Ltd. in the "space photovoltaic" concept stock list originated from a rumor about a $500 million contract with SpaceX for HJT equipment, which led to a stock price surge [5][14]. - The "space photovoltaic" technology is categorized into three main types: gallium arsenide batteries, which are currently the mainstream technology with over 30% efficiency; thin-film and heterojunction silicon technologies, which are gradually increasing their penetration in space; and perovskite batteries, which have a theoretical efficiency close to 45% and could dominate low Earth orbit and deep space missions post-2028 if stability issues are resolved [5][14]. Technological Advancements - On January 21, 2026, Maiwei Co., Ltd. announced a breakthrough in G12H perovskite/silicon heterojunction batteries with a certified efficiency of 32.38%, and on January 28, it achieved a new world record for heterojunction solar cells with a conversion efficiency of 26.92% [7][16]. - The company emphasizes that heterojunction batteries are becoming a competitive technology in the space energy sector due to their high efficiency, stability, and lightweight characteristics [7][16]. Financial Performance - For the first three quarters of 2025, Maiwei Co., Ltd. reported revenues of 6.204 billion yuan, a year-on-year decline of 20.13%, and a net profit of 663 million yuan, down 12.56% year-on-year [8][16]. - Despite the downturn in the photovoltaic industry, Maiwei Co., Ltd. has maintained profitability and is expanding its business beyond photovoltaic equipment into the heterojunction battery sector and the semiconductor field [8][16]. Investment Activities - Recently, Maiwei Co., Ltd. has been actively investing in professional investment funds, including a 10 million yuan commitment to a fund focused on industrial internet and a 90 million yuan investment in a fund targeting hard technology and high-end manufacturing [17].