黄金和白银价格12月份持续飙升。美国知名投资人预测，贵金属的猛涨行情，可能预示美国金融存在危 机。 白银价格今年涨幅超过一倍，超过黄金。美国纽约商品期货交易所白银期货价格在29日亚洲交易时段首 次突破每盎司80美元关口，再创新高，超过一桶原油的价格。原油价格在26日报收于每桶56.74美元。 类似今年上涨72%并创新高的黄金，投资者同样在实物和纸面上囤积白银，希望借此储存财富，并对冲 美元等货币的风险。 与此同时，珠宝商、医疗器械制造商、电动汽车生产商、数据中心开发商，尤其是太阳能电池板工厂， 都对白银保持着旺盛需求。美国花旗集团分析师估计，太阳能行业消耗全球近30%的白银年产量。 与此同时，印度投资者对白银的需求激增。《华盛顿邮报》本月早些时候报道，印度央行近期决定允许 发放以白银为抵押品的贷款。据金属行业媒体金拓新闻网站报道，印度现在是全球第二大白银投资市 场。 美国知名投资人彼得·席夫日前警告，美国经济正走向一场历史性危机。他认为，通货膨胀以及黄金和 白银价格飙升，正削弱市场对美国国债的信心，为美元急剧下跌埋下伏笔。 "当你看到黄金价格大幅上涨时，这表明人们对美元的信心正在丧失。这就是人们购买黄金的原因 ...

东方日升 20251228 摘要 东方日升的金龟（晶硅）太阳翼单品定价约为 3 万元/平方米，相较于价 格高达 20 万至 30 万元以上的生化镓产品，具有显著的价格优势，主要 面向对成本敏感的商业航天应用。 东方日升生产的 P 型 HJT 电池在初始状态（BOL）下效率约为 24%- 25%，虽略低于 N 型电池，但通过超薄片和背面反射设计，可有效提高 太阳翼整体效率，满足商业航天 3-5 年寿命需求。 通信卫星太阳翼面积目前为 100-200 平方米，未来可能扩展至 500 平 方米甚至平方公里级别，驱动卫星电池向多小卫星或单一大卫星两种形 态发展，为东方日升带来潜在市场。 东方日升自 2018 年起布局太空市场，已向欧美主要机构累计销售数万 片电池，积累了快速响应客户需求的能力和太空应用经验，为后续市场 拓展奠定基础。 东方日升在超薄 P 型异质结电池领域的核心竞争力在于长期测试数据积 累和工艺材料改进，以及应对更大订单的设备改造准备，构筑了竞争壁 垒，领先优势预计可持续半年至一年。 Q&A 为什么选择 P 型电池而不是 N 型电池？以及为什么超薄异质结（HJT）电池是 更好的选择？ P 型电池的选择基 ...

Group 1 - Current demand for silver from investors and industries is extremely high, with both physical and financial assets being accumulated for wealth storage and hedging against risks associated with the US dollar and other currencies [1] - The solar industry consumes nearly 30% of the annual silver production from mining and recycling, while the supply side shows little potential for significant new production due to the depletion of "pure silver" deposits [2] - The price of precious metals, including silver, is at risk of a correction, as indicated by the announcement from Guotai Junan UBS Silver Futures Securities Investment Fund regarding the suspension of subscriptions for certain fund shares starting December 29, 2025 [3] Group 2 - On December 29, spot silver prices surged nearly 6%, approaching the $84 mark, setting a new historical high before slightly retreating to $83.2 per ounce [4] - To mitigate market risks, the Shanghai Futures Exchange issued notifications on December 26, advising the market to implement risk control measures and outlining trading margin ratios and price fluctuation limits for related products during the New Year period [5]

Core Insights - Trina Solar has signed a contract with Estonian energy company Sunly for the Raba solar power plant's battery energy storage system [1] Group 1: Project Details - The project will feature a 21MW/42MWh energy storage system provided by Trina Storage [1] - The energy storage solution will utilize Trina's Elementa Diamond 2 storage solution platform [1] - The system's rated capacity will reach 48.88MWh, with delivery expected by the end of 2025 [1]

Group 1 - The current demand for silver from investors and the industrial sector is extremely high, with both physical and financial assets being accumulated for wealth storage and as a hedge against risks associated with the US dollar and other currencies [3][4] - In the real economy, the demand for silver is robust, particularly from jewelry manufacturers, medical device producers, electric vehicle manufacturers, data center construction companies, and notably, solar panel manufacturers [3][4] - Citigroup analysts estimate that the solar industry consumes nearly 30% of the annual silver production from mining and recycling [3][4] Group 2 - There is little possibility of significant new silver supply entering the market, as global "pure silver" deposits are nearly exhausted, with most silver now being produced as a byproduct of mining other metals like copper, gold, and zinc [3][4] - John Ciampaglia, CEO of Sprott Asset Management, indicates that changes in silver supply are often driven by the demand for other metals rather than silver itself [3][4] - There are warnings that precious metal prices are at a "cliff edge," with accumulating risks of a price correction [3][4]

Group 1 - The current demand for silver from both investors and the industrial sector is extremely high, with silver being accumulated in both physical and financial asset forms for wealth storage and as a hedge against risks associated with the US dollar and other currencies [3] - The jewelry industry, medical device manufacturers, electric vehicle producers, data center construction companies, and especially solar panel manufacturers are major consumers of silver [3] - Citigroup analysts estimate that the solar industry consumes nearly 30% of the annual silver production from mining and recycling [4] Group 2 - There is little possibility of significant new silver production entering the market, as global "pure silver" deposits are nearly exhausted, with most silver now being produced as a byproduct of mining other metals like copper, gold, and zinc [4] - Changes in silver supply are often driven by the demand for other metals rather than silver itself, according to John Ciampaglia, CEO of Sprott Asset Management [4] - Some analysts warn that precious metal prices are at a "cliff edge," indicating that the risk of a price correction is accumulating [5]

Core Insights - The silver market has experienced a strong upward trend, rising for five consecutive days and reaching a new high of $75, driven primarily by robust industrial demand, particularly in the solar energy sector [1] - Industrial consumption accounts for 65% of silver demand, with the solar industry representing 15%. The demand from electric vehicles and AI data centers is also surging, with an electric vehicle requiring an average of 25-50 grams of silver, potentially increasing to 1 kilogram per vehicle with the adoption of solid-state battery technology [1] - By 2025, the global silver supply-demand gap is projected to reach 95 million ounces, exacerbated by a 12% year-on-year decline in production from major producing countries like Mexico and Peru, and a mere 1.2% increase in recycled silver [1] - Global silver inventory distribution is highly uneven, with London silver stocks down approximately 75% from their peak in 2019, and transportation bottlenecks affecting New York COMEX inventories, leading to liquidity issues in the global silver market [1] Technical Analysis - Short-term bullish signals are strong, but caution is advised regarding potential overbought pullbacks, with key support and resistance levels to monitor [3] - The MACD indicator shows bullish signals across multiple time frames (15 minutes, 1 hour, 4 hours, daily), indicating strong short-term upward momentum [3] - The KDJ indicator is signaling bearish trends in the short term, suggesting overbought risks [4] - The RSI indicator shows mixed signals, with bearish indications on the 15-minute and 1-hour levels, while the 4-hour and daily levels indicate bullish trends, reflecting significant market divergence [5] Support and Resistance Levels - Key support level to watch is $72.720 per ounce; a drop below this level may lead to further pullbacks [6] - Key resistance level to monitor is $75.495 per ounce; a breakthrough could initiate a new upward trend [7] - Short-term analysis suggests strong bullish signals from MACD, but KDJ and RSI indicate overbought risks, recommending cautious approaches to buying [7]

证券日报网讯 12月26日，太阳能发布公告称，中节能太阳能股份有限公司于2025年12月25日召开第十 一届董事会第二十四次会议，审议通过了《关于聘任公司副总经理的议案》。因公司业务发展需要，经 公司总经理张会学先生提名、公司董事会提名委员会确认，同意聘任公司总经理助理杜虎先生担任公司 副总经理（杜虎先生原总经理助理职务自然免除），任期与公司第十一届董事会相同。 （文章来源：证券日报） ...

Core Viewpoint - The article highlights a significant increase in silicon wafer prices driven by supply contraction, demand recovery, and rising costs, with specific price changes noted for various types of silicon wafers and solar cells [1][2]. Price Changes - N-type G10L monocrystalline silicon wafer (182*183.75mm/130μm) average transaction price is 1.2 yuan/piece, up 2.56% week-on-week [1][3]. - N-type G12R monocrystalline silicon wafer (182*210mm/130μm) average transaction price is 1.31 yuan/piece, up 9.17% week-on-week [1][3]. - N-type G12 monocrystalline silicon wafer (210*210mm/130μm) average transaction price is 1.52 yuan/piece, up 1.33% week-on-week [1][3]. Market Dynamics - Supply reduction from silicon wafer manufacturers is expected to decrease production by approximately 5% in December compared to November, with companies controlling sales and showing a clear reluctance to sell at low prices [2]. - The significant rise in silver prices has led to an increase in downstream battery prices, with mainstream battery prices rising to 0.31-0.33 yuan/W, up 10.3% week-on-week [1][2]. - Despite the increase in silicon wafer prices, overall transaction volume remains limited due to cautious procurement strategies from component manufacturers and a lack of clear recovery in end-user demand [2]. Production Rates - The overall operating rate in the silicon wafer industry remains stable, with leading companies operating at rates of 50% and 48%, while integrated companies operate between 50% and 70% [2]. - If price transmission within the industry chain proceeds smoothly, the silicon wafer market is expected to continue its positive trend by the end of the month [2].

36氪获悉，爱企查App显示，近日，通威太阳能（永仁）有限公司成立，法定代表人为沈潇君，注册资 本为1000万元人民币，经营范围包括太阳能热利用装备销售、太阳能热发电装备销售、太阳能热发电产 品销售、太阳能发电技术服务等。股权穿透图显示显示，该公司由通威股份有限公司间接全资持股。 ...