光伏专用设备行业点评：钙钛矿电池技术不断突破，GW级产能逐步落地

Investment Rating - The report rates the photovoltaic equipment industry as "Overweight" [2][14]. Core Insights - Perovskite battery technology is making significant breakthroughs, with GW-level production capacity gradually being established. The industry is expected to see substantial growth due to the advantages of perovskite batteries, including high theoretical efficiency, low manufacturing costs, and lightweight characteristics [3][4]. - The transition from laboratory to industrialization for perovskite batteries is accelerating, with domestic manufacturers actively planning mass production lines. Notable achievements include successful shipments of perovskite components and record-breaking efficiency levels [4]. - The industrial development of perovskite batteries is anticipated to drive demand for related equipment, as the production process is more streamlined compared to traditional silicon batteries. The value of a GW-level production line is estimated to be around 1 billion yuan, with potential reductions in costs as production scales up [4]. Summary by Sections Industry Overview - Perovskite batteries utilize organic metal halide semiconductors as light-absorbing materials, offering a theoretical light conversion efficiency of up to 33% for single-junction cells and 45% for tandem cells, significantly higher than the 29.4% limit of silicon batteries [3]. - The manufacturing process for perovskite batteries is simpler and faster, allowing for the use of lightweight and flexible substrates, which broadens application scenarios [3]. Market Developments - Key companies in the industry include JingShan Light Machine, DeLong Laser, JiePuTe, DiEr Laser, and DaZu Laser, all of which are involved in providing equipment and solutions for perovskite battery production [5]. - Recent financing activities, such as the 500 million yuan raised by Kunshan GCL Photovoltaic Materials Co., will support the construction of a GW-level perovskite production line expected to be operational by 2025 [2]. Equipment Demand - The production process for perovskite batteries is expected to reduce the number of steps and processing time, leading to a concentrated value chain. The core equipment required includes coating, laser processing, and packaging [4]. - As production lines transition from hundreds of megawatts to gigawatt levels, the demand for supporting equipment is projected to increase significantly [4].