Tesla(US:TSLA) EBSCN·2026-02-09 10:10Investment Rating - The report maintains a "Buy" rating for the electric power equipment and new energy sector, indicating an expected investment return exceeding 15% over the next 6-12 months compared to the market benchmark index [5]. Core Insights - Tesla is expanding its solar manufacturing capacity in North America, with plans to reach 100GW integrated solar manufacturing by the end of 2028, which is expected to benefit leading Chinese solar equipment and material companies [1][4]. - The Chinese solar supply chain plays a crucial role in the expansion of solar capacity in the U.S., with significant increases in global market share for silicon materials, wafers, cells, and modules projected from 2021 to 2025 [2]. - The cost and technical importance of auxiliary materials in solar module production are rising, with a forecasted growth in U.S. solar power generation driven by policy and demand, benefiting Chinese auxiliary material suppliers [3]. Summary by Sections Section 1: Tesla's Expansion - Tesla is assessing new solar cell manufacturing projects across the U.S., starting with a 10GW expansion at its Buffalo factory [1]. Section 2: Chinese Supply Chain Impact - During the "14th Five-Year Plan" period, China's solar industry chain is expected to see substantial capacity expansion, with global market shares for key components increasing significantly by 2025 [2]. Section 3: Auxiliary Materials in Solar Production - The cost share of auxiliary materials in solar modules is increasing, with specific components like paste, aluminum frames, and glass becoming critical to overall module costs [3]. Section 4: Investment Recommendations - Companies such as Duliang Energy, Jingsheng Mechanical, and others are recommended for investment due to their potential benefits from Tesla's expansion [4]. - Auxiliary material companies like Foster and Juhe Materials are also highlighted as key beneficiaries of the growing U.S. solar demand [4].