Core Insights - The China Photovoltaic Industry Association has issued a statement refuting false information circulating online, emphasizing the industry's commitment to maintaining national and industry interests and combating malicious actions against the photovoltaic sector [1] Industry Dynamics - The 2025 World Power Battery Conference opened in Yibin, Sichuan, on November 12, with 180 signed projects totaling 86.13 billion yuan, covering areas such as power batteries, new energy storage, photovoltaics, and smart connected new energy vehicles, showcasing strong industrial clustering effects and development momentum [1] - Tongwei Co. expressed strong support for the photovoltaic "anti-involution" initiative, believing that relevant policies will gradually be implemented [1] Policy Developments - On November 12, the National Energy Administration proposed guidelines to promote the integrated development of new energy, aiming for significant improvements in the reliability of new energy by 2030, enhancing market competitiveness, and supporting the green transformation of the economy [1] Technological Advancements - The Ministry of Industry and Information Technology released a document on November 11 to accelerate the construction of pilot platforms for advanced photovoltaic technologies, such as perovskite and tandem solar cells, indicating that the perovskite industry is at a critical stage of commercialization [2] - East Wu Securities noted significant technological breakthroughs by companies like GCL-Poly and Xina Solar, marking progress towards large-scale commercial applications [2] Financial Performance - Leading photovoltaic companies reported improved profitability in Q3 2025, driven by stabilized prices in the photovoltaic supply chain and reduced inventory impairment losses, with notable increases in gross margins, particularly in the silicon material segment [2] - As of November 13, 2025, the CSI Photovoltaic Leaders 30 Index rose by 1.83%, with significant gains in component stocks such as Sungrow Power and MicroNano [2] ETF Market Activity - The leading photovoltaic ETF reached a new high of 561 million yuan in size and 752 million shares in circulation, with a net inflow of 204 million yuan over the past week [3] - The ETF closely tracks the CSI Photovoltaic Leaders 30 Index, which has seen a year-to-date increase of over 46%, outperforming similar indices [3]

Group 1 - The core viewpoint of the report highlights the high value of equipment in the early stage of perovskite industrialization, with the value of a single GW equipment exceeding 1 billion yuan and the price of a 100MW complete line equipment ranging from 300 million to 400 million yuan [1][3] - The Ministry of Industry and Information Technology has issued a notice to accelerate the construction of pilot test platforms, focusing on advanced photovoltaic technologies such as perovskite solar cells and stacked solar cells [2] - The industrialization of GW lines is progressing, with companies like BOE and Jidong Energy set to produce GW lines in late 2024 to early 2025, and GCL-Poly's first perovskite module achieving breakthroughs in efficiency, stability, and manufacturing costs [2][3] Group 2 - Equipment manufacturers are expected to benefit first in the 0-1 stage of industrialization, with significant value in perovskite equipment, including customized production scale design and advanced technologies such as core vacuum technology and inkjet printing [3] - Companies like Jiejia Weichuang have recently won bids for perovskite battery production lines, providing a range of equipment including glass cleaning machines and various deposition systems [3] - Investment recommendations include leading semiconductor equipment manufacturers and suggest attention to other companies in the sector [3]

Investment Rating - The report maintains an "Accumulate" rating for the photovoltaic equipment industry [1] Core Insights - The Ministry of Industry and Information Technology has issued a notice to accelerate the construction of perovskite pilot platforms, which will benefit equipment manufacturers [4] - The gradual implementation of GW lines and accelerated industrialization progress are noted, with major companies like BOE and Jinko Solar starting production [4] - The initial stage of perovskite industrialization presents high equipment value, with single GW equipment valued over 1 billion and 100MW complete line equipment priced between 300-400 million [4] - Investment recommendations include leading semiconductor equipment manufacturers and specific companies such as Jiejia Weichuang and others [4] Summary by Sections - **Policy Development**: The Ministry of Industry and Information Technology has focused on advanced photovoltaic technologies, including perovskite solar cells [4] - **Industrial Progress**: Companies like BOE and Jinko Solar have begun production of GW lines, marking significant advancements in efficiency and cost [4] - **Equipment Value**: The report highlights the high value of equipment in the early stages of perovskite industrialization, with significant investment opportunities for equipment manufacturers [4] - **Investment Suggestions**: Recommendations include specific companies in the semiconductor equipment sector, indicating a positive outlook for these firms [4]

Core Viewpoint - The third Perovskite Materials and Devices Industry Development Forum will focus on flexible perovskite photovoltaics, perovskite tandem cells, and applications in smart IoT and wearable devices under indoor low-light conditions, highlighting the industry's evolution and challenges in commercialization [1][10]. Group 1: Forum Overview - The forum will be held on May 23-24 in Suzhou, organized by the Chinese Academy of Sciences Ningbo Materials Technology and Engineering Research Institute and Huazhong University of Science and Technology [1][6]. - Notable experts and companies in the flexible perovskite field will participate, including representatives from GCL, Tongwei, and TÜV Rheinland, who will present cutting-edge technologies and industry trends [1][2]. Group 2: Industry Challenges and Developments - Perovskite solar cells are evolving towards tandem, multi-junction, and flexible applications, but challenges remain in balancing efficiency, size, stability, and cost control for mass production [2][10]. - Renshou Energy has achieved a commercial component efficiency of 20% for per square meter and over 26% for tandem components, with a production line of 150 MW and plans for GW-level capacity by 2025 [2][10]. Group 3: Future Applications - The most promising application areas for perovskite technology in the next 3-5 years include tandem photovoltaics, flexible photovoltaic applications for BIPV, and advanced consumer electronics [10]. - The forum will address technical challenges such as large-area production, interface engineering for tandem cells, and the development of high-performance flexible transparent electrodes [10].

欢迎报名交流，加速钙钛矿迈向未来 随着钙钛矿光伏技术不断接近产业化临界点，如何在大尺寸制备、效率提升与生产良率控制等方面实现突破，成为推动钙钛矿商业化落地的关键。而在这 一过程中， 传统试错式研发模式已难以支撑高复杂度材料体系和多变量工艺的快速迭代， AI赋能高通量研发 正在成为加速钙钛矿产业升级的重要手段。 针对 钙钛矿研发与产业化深度融合AI智能化趋势 ，我们特别邀请了 昆山协鑫光电材料有限公司总经理田清勇先生 在本次论坛发表主题报告《AI赋能钙钛 矿研发与产业化：协鑫光电高通量设备的创新实践》。 本报告将聚焦全球钙钛矿行业的最新发展动态，深入解析AI大模型与高通量实验设备在协鑫光电研发体系中的创新应用，展示通过AI智能分析系统实现钙 钛矿单层与叠层技术快速迭代、优化与规模化落地的实践路径，同时分享协鑫光电在推动GW级叠层产线建设方面的最新布局与未来规划。 嘉宾简介 田清勇先生，毕业于清华大学、协鑫光电联合创始人兼总经理。2010年开始钙钛矿商业化研发，带队攻克器件优化、中试、吉瓦级产线的技术难关，屡破 大尺寸钙钛矿单结/叠层组件世界纪录。 由 中国科学院宁波材料技术与工程研究所光电信息材料与器件实验室 ...