2020-2025年1-10月中国太阳能发电量产量统计图 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 上市企业：隆基绿能（601012）,通威股份（600438）,阳光电源（300274）,晶澳科技（002459）,天合光 能（688599）,特变电工（600089）,正泰电器（601877）,TCL中环（002129）,林洋能源（601222）,上 能电气（300827） 相关报告：智研咨询发布的《2025-2031年中国太阳能发电站行业市场行情监测及投资前景研判报告》 根据国家统计局数据显示：2025年10月中国太阳能发电量产量为394亿千瓦时，同比增长5.9%；2025年 1-10月中国太阳能发电量累计产量为4798.2亿千瓦时，累计增长23.2%。 ...

1. 深圳水贝下架"投资金" 在黄金税收新政发布后，水贝市场各大交易中心的价格显示大屏会分别显示"投资金"与"首饰金"价格。不 过，记者最近看到一些水贝商家在微信朋友圈等社交账号上发布动态表示，市场管理趋严，水贝市场再 无"投资金"。近日，记者走访水贝市场发现，无论是线下大屏还是线上小程序都悄悄隐去了"投资金"。 2.马斯克：前所未有的特大诈骗案 有贴文转载《华尔街日报》的一篇报道称，"美国福利制度存在深层次的严重弊病 —— 这一问题的严重性 与危害性，远超近期登上新闻头条的明尼苏达州惊天诈骗案…… 联邦福利实际支出飙升765%，增速是联邦 总支出的两倍以上，如今每年耗资达1.4万亿美元。倘若将这笔资金直接平均发放给政府划定的1980万户贫 困家庭，每户每年可获超7万美元补助。"马斯克对此表示，"前所未有的特大诈骗案。" 3.外国人入境卡网上填报实施满月，上海空港口岸使用人数超26万人 记者从上海边检总站获悉，截至当日，国家移民管理局外国人入境卡网上填报新举措实施已满月。在上海 空港口岸（浦东、虹桥国际机场口岸），通过网上填报系统完成入境卡填写的外籍旅客数量持续稳步提 升，使用人数超26万人次，占符合网上填报 ...

一位X用户分享独立能源智库Ember Energy的一张图表称："过去 12 个月里，中国的发电总量增加了超 过 500太瓦时（5000亿千瓦时）。其中，太阳能发电量增加了约350太瓦时，煤炭发电量减少了 66太瓦 时。"马斯克转发该帖子并评论称："中国在太阳能发电领域取得了令人难以置信的进展！美国也需要采 取同样的行动。" ...

Core Viewpoint - Elon Musk publicly criticized controlled nuclear fusion, calling it "extremely foolish" and suggesting that investing in small fusion reactors is a waste of money [2]. Group 1: Critique of Controlled Nuclear Fusion - Musk argues that the sun serves as a massive, free nuclear fusion reactor, making the construction of small fusion reactors on Earth unnecessary [2]. - He previously stated that solar panels combined with battery storage could provide continuous energy, suggesting that a solar panel area of 100 miles by 100 miles could meet the entire electricity demand of the U.S. [2]. Group 2: Space-Based Data Centers - SpaceX plans to build data centers in space, upgrading Starlink V3 satellites to carry AI computing chips, with a goal to start in 2026 and create a global space computing network [4]. - The energy consumption for AI model training is projected to reach 1,200 terawatt-hours by 2035, which is nearly a quarter of the total U.S. electricity generation in 2024 [4]. - Musk's vision includes deploying 100 gigawatts of computing power annually via Starship, achieving self-sufficiency and potentially surplus capacity [5]. Group 3: Comparison with Nuclear Power - Major tech companies like Microsoft and Amazon are investing in nuclear power to secure energy needs, while Musk proposes relocating data centers to space [5]. - Space-based solar power offers advantages over controlled nuclear fusion, such as continuous energy generation unaffected by weather or time of day [10]. - The cost of solar power has decreased by over 80% in the past decade, making it commercially viable without subsidies [10]. Group 4: Challenges of Controlled Nuclear Fusion - The ITER project for nuclear fusion has faced delays and has seen costs rise to €25 billion (approximately 206.9 billion RMB), with operational goals pushed back to 2034 [7]. - Achieving the necessary conditions for nuclear fusion, such as heating plasma to over 100 million degrees Celsius, presents significant technical challenges [8][9]. - Experts believe that commercial nuclear fusion power may still be at least 30 years away from realization [10].

Group 1 - The company Penghui Lihe (Harbin Aicheng) Energy Technology Co., Ltd. has been established with a registered capital of 5 million RMB [1] - The legal representative of the company is Zhang Zhaofeng, and it is wholly owned by Penghui Lihe (Heilongjiang) Energy Technology Co., Ltd. [1] - The business scope includes solar power generation technology services, energy storage technology services, contract energy management, wind power generation technology services, and research and development of new materials and emerging energy technologies [2] Group 2 - The company is classified under the electricity, heat, gas, and water production and supply industry, specifically in electricity production [2] - The registered address is located in the Aicheng Economic Development Zone, Harbin City, in the comprehensive office building of the small and medium-sized enterprise incubator [2] - The company is a limited liability company with no fixed term of operation, registered until December 16, 2025 [2]

Core Insights - Ghana aims to become a regional electricity supplier in Africa, targeting a 30% increase in solar power generation capacity [1] - Future electricity projects will be awarded through competitive procurement to ensure optimal value, rather than relying solely on private investment [1] - The Ghanaian government plans to deploy a 1200 MW solar power plant as a base load and add approximately 500 MW of solar capacity to supplement electricity supply [1] - Ghana is collaborating with neighboring countries such as Nigeria, Togo, and Côte d'Ivoire to coordinate electricity development plans [1] - Burkina Faso has recently requested 200 MW of emergency power supply from Ghana to stabilize its grid [1]

Investment Rating - The report maintains a "Buy" rating for several companies in the solar energy sector, with specific ratings of "Buy-A" and "Buy-B" assigned to various stocks [1]. Core Insights - In October 2025, the domestic solar photovoltaic (PV) new installed capacity decreased by 38.3% year-on-year, while the cumulative installed capacity from January to October increased by 39.5% year-on-year [2][12]. - The export value of solar modules in October was 16.08 billion yuan, showing a year-on-year increase of 4.9% but a month-on-month decrease of 19.5% [2][15]. - The inverter export value in October was 4.82 billion yuan, reflecting a year-on-year growth of 3.4% but a month-on-month decline of 5.2% [3][25]. - Solar power generation in October increased by 5.9% year-on-year, accounting for 4.77% of the total national power generation [4][38]. Summary by Sections Domestic Solar New Installed Capacity - In October 2025, the new installed capacity was 12.6 GW, down 38.3% year-on-year but up 30.4% month-on-month. The cumulative installed capacity from January to October reached 252.87 GW [2][12]. Export Data - Solar module exports in October totaled 16.08 billion yuan, with a year-on-year increase of 4.9% and a month-on-month decrease of 19.5%. Cumulative exports from January to October were 168.26 billion yuan, down 11.8% year-on-year [2][15]. - Inverter exports in October were valued at 4.82 billion yuan, with a year-on-year increase of 3.4% and a month-on-month decrease of 5.2%. Cumulative inverter exports from January to October reached 53.31 billion yuan, up 7.2% year-on-year [3][25]. Solar Power Generation - The solar power generation in October was 39.37 billion kWh, representing a year-on-year growth of 5.9% and a slight decrease in its share of total power generation [4][38]. Investment Recommendations - The report recommends focusing on companies such as Aishuo Co., Longi Green Energy, and Daqian Energy for new technology and supply-side directions. It also highlights companies like Haibo Sichuang and Sunshine Power for energy storage, and suggests attention to various other companies in the solar sector [4][42].

Core Viewpoint - The solar power generation industry in China is experiencing significant growth, with a notable increase in production and capacity in recent years, as highlighted by the data from the National Bureau of Statistics and the report from Zhiyan Consulting [1]. Industry Summary - In September 2025, China's solar power generation reached 46.5 billion kilowatt-hours, marking a year-on-year increase of 21.1% [1]. - From January to September 2025, the cumulative solar power generation in China was 436.28 billion kilowatt-hours, reflecting a cumulative growth of 24.2% [1]. - The report by Zhiyan Consulting provides insights into the market trends and investment prospects for the solar power station industry in China from 2025 to 2031 [1]. Company Summary - Key listed companies in the solar power sector include Longi Green Energy, Tongwei Co., Sunshine Power, JA Solar Technology, Trina Solar, TBEA, Chint Electric, TCL Zhonghuan, Linyang Energy, and Sungrow Power Supply [1].

Core Insights - Silver is significantly outperforming gold, indicating a potential second phase of the commodity bull market, with spot silver rising over 85% in 2025 from under $30 to over $54 per ounce [1] Supply and Demand Dynamics - The rally in silver prices is driven by tight inventories, persistent investor flows, and a structural supply deficit, with projections of silver reaching $60 next year [3] - Industrial demand for silver rose to 689 million ounces in 2024, with photovoltaic applications accounting for 244 million ounces, a more than 150% increase from 2020 [5] - The Silver Institute anticipates a fifth consecutive annual supply deficit of approximately 95 million ounces, despite weak demand for jewelry and silverware [6] - Over 70% of mined silver is a byproduct of other metal production, limiting the ability of producers to respond quickly to price increases [7] Technical Analysis - Silver's price patterns exhibit significant technical formations, including a cup-and-handle pattern, suggesting potential further price increases in 2025 [11]

Core Insights - The solar energy sector in the A-share market is experiencing significant growth, with multiple stocks reaching their daily limit up [1] - China is a major contributor to global electricity growth, with approximately three-quarters of new electricity supply coming from solar energy [1] - Elon Musk has highlighted solar power as potentially the largest energy source for human civilization to date [1] Company Performance - Top performing solar stocks include: - **拓日新能 (TuoRi New Energy)**: Increased by 10.05%, market cap of 6.811 billion [2] - **日出东方 (Rising Sun Oriental)**: Increased by 10.04%, market cap of 9 billion [2] - **锡装股份 (XiZhuang Co.)**: Increased by 10.01%, market cap of 6.583 billion [2] - **捷荣技术 (JieRong Technology)**: Increased by 10.00%, market cap of 4.798 billion [2] - **建业股份 (JianYe Co.)**: Increased by 10.00%, market cap of 5.525 billion [2] - **清源股份 (QingYuan Co.)**: Increased by 9.99%, market cap of 4.299 billion [2] - **国晟科技 (GuoSheng Technology)**: Increased by 9.96%, market cap of 5.581 billion [2] - **电投产融 (DianTou ChanRong)**: Increased by 9.94%, market cap of 39.3 billion [2] - **永泰能源 (YongTai Energy)**: Increased by 9.82%, market cap of 39.1 billion [2] - **弘元绿能 (HongYuan Green Energy)**: Increased by 9.23%, market cap of 26.1 billion [2] - **昱能科技 (YuNeng Technology)**: Increased by 9.08%, market cap of 10.5 billion [2] - **上能电气 (ShangNeng Electric)**: Increased by 9.05%, market cap of 24.5 billion [2] - **TCL中环 (TCL ZhongHuan)**: Increased by 7.88%, market cap of 45.9 billion [2] - **隆基绿能 (Longi Green Energy)**: Increased by 7.89%, market cap of 174.1 billion [2] - **时创能源 (ShiChuang Energy)**: Increased by 7.63%, market cap of 7.108 billion [2] Electricity Generation Trends - Data indicates a significant increase in electricity generation, with solar energy being a key driver in China compared to other sources [3]