Group 1 - The core achievement in solar technology is the development of perovskite micro-modules by NREL and CubicPV, which have achieved a world record efficiency of 24.0% for photovoltaic conversion [1] - The performance of the photovoltaic industry is reflected in the 中证光伏产业指数 (CSI Photovoltaic Industry Index), which has seen a decline of 0.58% as of July 15, 2025, with mixed performance among constituent stocks [1] - The top-performing stocks include 横店东磁 (9.98% increase), 科华数据 (6.85% increase), and 罗博特科 (1.75% increase), while the worst performers include 协鑫集成 (4.83% decrease) and 双良节能 (3.98% decrease) [1] Group 2 - As of June 30, 2025, the top ten weighted stocks in the CSI Photovoltaic Industry Index account for 55.39% of the index, with major companies including 阳光电源, 隆基绿能, and TCL科技 [2]

Group 1 - The core achievement is the development of perovskite micro-modules with a certified photovoltaic conversion efficiency of 24.0%, setting a new world record in the field [1] - The micro-generating device consists of multiple interconnected units, indicating a significant advancement in photovoltaic technology [1]

Core Insights - The forum on space solar power stations was held in Beijing, focusing on key innovative technologies and applications in the field [1] - Experts from various disciplines discussed technological routes, new production capabilities, and innovative models to promote collaboration among researchers and support national industrial upgrades [1] Group 1: Key Presentations - Li Ming presented on the technological innovations and applications of space solar power stations, outlining China's preliminary plans and key technological achievements [3] - Huang Kama discussed significant advancements in microwave wireless energy transmission technology and its applications, including multi-target microwave charging solutions [3] - Ding Jianning provided an overview of the current status and future trends of photovoltaic technology, highlighting breakthroughs in new battery technologies and flexible components [3] - Liu Rongqiang summarized the composition and deployment principles of large space structures, discussing future development trends in construction technology [3] - Liu Zhigang addressed the demand for ultra-high power and high-voltage space power systems, presenting key technologies and research outcomes in this area [3] Group 2: High-Level Paper Discussions - Young scholars presented on topics such as optimization of microwave energy transmission systems, dynamics of large space structures, and efficient solar cells for space applications [4]

Group 1: Space Solar Power Station Innovations - The "Space Solar Power Station Innovation Technology and Application" forum focuses on key innovative technologies in the field of space solar power stations, aiming to facilitate national industrial upgrades [3][4] - Reports presented include advancements in microwave wireless energy transmission, developments in photovoltaic technology, and construction techniques for large space structures [3][4] - Experts emphasize the forum's role in transitioning China's space solar power station from theoretical concepts to engineering practices, supporting the country's energy transformation and achieving carbon neutrality goals [5] Group 2: National Water Network Construction Innovations - The "National Water Network Construction Innovation Technology" forum addresses key technological breakthroughs and frontiers in water network construction, aiming to provide innovative ideas and technical support for building a modern high-quality water security system [7] - The forum features discussions on digital twin technology, the South-to-North Water Diversion Project, and critical scientific issues related to the national water network [7]

Group 1 - The State Intellectual Property Office of China has granted a patent for a photovoltaic tile installation structure and photovoltaic tile to multiple companies under the Aisxu brand, with the patent application date being September 2024 [1] - The patent includes a design that enhances the reliability of connections between components, making installation more efficient [1] Group 2 - Zhuhai Fushan Aisxu Solar Technology Co., Ltd. was established in 2021, has a registered capital of 450 million RMB, and has participated in 97 bidding projects with 974 patent records [2] - Guangdong Aisxu Technology Co., Ltd. was founded in 2009, has a registered capital of approximately 282.35 million RMB, and has 1 external investment, 8 bidding projects, and 1704 patent records [2] - Zhejiang Aisxu Solar Technology Co., Ltd. was established in 2016, has a registered capital of approximately 569.19 million RMB, and has invested in 11 companies, participated in 122 bidding projects, and holds 1808 patents [2] - Tianjin Aisxu Solar Technology Co., Ltd. was founded in 2018, has a registered capital of 130 million RMB, and has participated in 22 bidding projects with 1135 patent records [3] - Shandong Aisxu Solar Technology Co., Ltd. was established in 2023, has a registered capital of 450 million RMB, and has participated in 21 bidding projects with 112 patent records [3] - Chuzhou Aisxu Solar Technology Co., Ltd. was founded in 2024, has a registered capital of 50 million RMB, and has participated in 2 bidding projects with 129 patent records [3]

Group 1 - The State Intellectual Property Office of China has granted a patent to Tongwei New Energy Engineering Design Sichuan Co., Ltd. and Tongwei New Energy Co., Ltd. for a device related to the intelligent installation of flexible support photovoltaic components [1] - The patent, titled "Intelligent Installation Steel Strand Connection and Retracting Device for Flexible Support Photovoltaic Components," was applied for on February 2024 and has the announcement number CN223013039U [1] - The device aims to improve construction efficiency by enabling the simultaneous pulling of steel strands and retracting ropes during the installation of photovoltaic panels, facilitating large-span continuous construction [1] Group 2 - Tongwei New Energy Engineering Design Sichuan Co., Ltd. was established in 2015, located in Chengdu, with a registered capital of 100 million RMB [2] - The company has participated in three bidding projects and holds 78 patent records, along with six administrative licenses [2] - Tongwei New Energy Co., Ltd. was founded in 2014, also in Chengdu, with a registered capital of 1.2 billion RMB [2] - This company has invested in 117 enterprises, participated in 15 bidding projects, and holds 72 patents and six trademark records, along with eight administrative licenses [2]

Core Insights - Longi Green Energy announced two significant technological breakthroughs at the 2025 SNEC International Solar Energy and Smart Energy Conference, showcasing advancements in solar cell efficiency [1] Group 1: Technological Achievements - Longi Green Energy's self-developed large-area (260.9 cm) silicon-perovskite tandem solar cell achieved a conversion efficiency of 33%, setting a new global record for large-area tandem cell efficiency [1] - The efficiency of Longi Green Energy's BC solar cell module surpassed 26%, indicating a strong performance in the solar technology sector [1] Group 2: Industry Recognition - Both technological achievements have been included in the 66th edition of the "Solar Cell Efficiency Table," highlighting China's leading position in photovoltaic technology on a global scale [1]

Report Summary 1) Report Industry Investment Rating - Industrial silicon: Pay attention to market sentiment changes, with a volatile outlook on the futures market [1] - Polysilicon: Focus on information from the SNEC conference, and a short - position is recommended for the futures market [1] 2) Core Viewpoints - The report analyzes the fundamentals of industrial silicon and polysilicon, including price, volume, open interest, basis, inventory, and cost data. It also provides trend strength indicators, with - 1 for industrial silicon and - 2 for polysilicon, indicating a bearish outlook [1][3] 3) Summary by Related Catalogs [Fundamental Tracking] - **Futures Market Data**: For industrial silicon futures (Si2507), the closing price was 7,415 yuan/ton, down 60 yuan from the previous day, with a trading volume of 440,221 lots and an open interest of 155,627 lots. For polysilicon futures (PS2507), the closing price was 34,105 yuan/ton, down 635 yuan from the previous day, with a trading volume of 123,726 lots and an open interest of 64,383 lots [1] - **Basis and Spread**: The basis of industrial silicon (against different spot benchmarks) and the spread between near - month and continuous - first contracts showed various changes. For example, the industrial silicon near - month contract to continuous - first spread was - 165 yuan/ton, and the polysilicon near - month contract to continuous - first spread was 2,825 yuan/ton [1] - **Spot Prices**: The price of East China oxygen - passing Si5530 was 8,150 yuan/ton, unchanged from the previous day; Yunnan Si4210 was 9,900 yuan/ton, also unchanged. Polysilicon - N - type re - feedstock was 36,500 yuan/ton, with no change [1] - **Profit**: Silicon factory profits were negative, with Xinjiang new - standard 553 at - 3,811 yuan/ton and Yunnan new - standard 553 at - 7,000 yuan/ton. Polysilicon enterprise profit was - 4.7 yuan/kg [1] - **Inventory**: Industrial silicon social inventory (including warehouse receipts) was 58.7 million tons, and enterprise inventory was 23.9 million tons. The industry inventory was 82.6 million tons. Polysilicon factory inventory was 26.9 million tons [1] - **Raw Material Costs**: Prices of raw materials such as silicon ore, washed coal, petroleum coke, electrodes, etc., showed different degrees of decline compared to previous periods [1] - **Prices in the Polysilicon (Photovoltaic) Industry Chain**: Prices of products such as silicon wafers, battery cells, components, photovoltaic glass, and photovoltaic - grade EVA also showed varying degrees of decline [1] - **Profit in Related Industries**: Profits of DMC enterprises in the organic silicon industry and regenerative aluminum enterprises in the aluminum alloy industry were also affected, showing negative or declining trends [1] [Macro and Industry News] - On June 4th, the ecological environment bureau of Wuzhong City, Ningxia released an environmental impact assessment report for LONGi Green Energy's BC module advanced technology demonstration project. The project, with a total investment of 300 million yuan, is set to produce 3GW of single - crystal BC modules annually [1][3] [Trend Intensity] - Industrial silicon trend intensity: - 1; Polysilicon trend intensity: - 2, indicating a bearish attitude towards both products, with polysilicon being more bearish [3]

Core Viewpoint - The article highlights the recent patent granted to multiple subsidiaries of Aisxu Solar Technology, focusing on advancements in solar cell technology that enhance efficiency and reliability while reducing thermal risks [1]. Group 1: Patent Information - A patent titled "Solar Cells, Photovoltaic Modules, and Photovoltaic Systems" was granted to several companies under Aisxu Solar Technology, with the application date being July 2024 [1]. - The patent describes a technology involving a silicon substrate with doped layers that improve the performance of solar cells by allowing suitable leakage currents while maintaining conversion efficiency [1]. Group 2: Company Profiles - Zhejiang Aisxu Solar Technology Co., Ltd. was established in 2016, located in Jinhua, with a registered capital of approximately 569.19 million RMB. The company has invested in 9 enterprises and holds 1791 patents [2]. - Zhuhai Fushan Aisxu Solar Technology Co., Ltd. was founded in 2021 in Zhuhai, with a registered capital of 450 million RMB. It has participated in 84 bidding projects and holds 956 patents [2]. - Chuzhou Aisxu Solar Technology Co., Ltd. was established in 2024 in Chuzhou, with a registered capital of 50 million RMB. It has participated in 2 bidding projects and holds 120 patents [2]. - Shenzhen Aisxu Digital Energy Technology Co., Ltd. was founded in 2022 in Shenzhen, with a registered capital of 65 million RMB. It has invested in 2 companies and holds 423 patents [3]. - Tianjin Aisxu Solar Technology Co., Ltd. was established in 2018 in Tianjin, with a registered capital of 130 million RMB. It has participated in 22 bidding projects and holds 1118 patents [3]. - Guangdong Aisxu Technology Co., Ltd. was founded in 2009 in Foshan, with a registered capital of approximately 282.35 million RMB. It has invested in 1 company and holds 1691 patents [3].

Core Points - The stock price of Yubang New Materials (301266) decreased by 3.19% to 30.93 yuan as of May 23, 2025, with a market capitalization of 3.399 billion yuan [1] - The company is focusing on expanding its overseas market and enhancing global customer service capabilities in 2025 [2] - The company has a leading position in the multi-layer composite welding strip technology, set to launch the product in 2024 [5] - The conversion price of Yubang convertible bonds has been adjusted from 36.94 yuan to 36.84 yuan, effective from May 30, 2025 [3][5] Market Performance - As of May 23, 2025, Yubang New Materials' stock closed at 30.93 yuan, down from 31.95 yuan the previous week, with a weekly high of 32.65 yuan and a low of 30.93 yuan [1] - The company's total market value is ranked 53rd out of 63 in the photovoltaic equipment sector and 3845th out of 5148 in the A-share market [1] Product and Technology - The company has over 80% of its production capacity dedicated to interconnection strips, with flexible production lines capable of producing various types of welding strips [1] - The multi-layer composite welding strip has a higher technical threshold, and the company possesses advanced technology and a high market share in this product category [1][5] Strategic Initiatives - In 2025, the company aims to actively explore overseas high-quality customers and maintain close technical exchanges and product development services with downstream clients [2]