智通财经APP获悉，招商证券发布研报称，马斯克在达沃斯论坛上表示Tesla和SpaceX将在三年内在美 国分别建设100GW光伏产能。本轮北美光伏扩产，将给相关国产辅材、设备及头部制造公司带来价值 重估，尤其需要重视辅材机会，其持续性强，且技术路线分歧较小。其中地面辅材确定性高，太空辅材 市场空间大;同时，部分掌握核心专利的主链公司也有望受益。 招商证券主要观点如下： 马斯克在达沃斯论坛上表示Tesla和SpaceX将在三年内在美国分别建设100GW光伏产能 北美地面扩产预计沿用中国成熟技术路线和辅材供应链，而太空设备、辅材需要针对性开发、设计，价 值量将明显高于地面。本轮北美光伏扩产，将给相关国产辅材、设备及头部制造公司带来价值重估，尤 其需要重视辅材机会，其持续性强，且技术路线分歧较小。 北美地面光伏将给中国相关供应链带来机会，太空方案还在迭代 据产业反馈，SpaceX目前方案有可能倾向P-HJT路线，钙钛矿及钙钛矿叠层也在积极尝试，预计HJT与 钙钛矿装备厂会受益。同时，考虑太空复杂环境，超薄硅片和组件封装对相关环节提出更高要求。北美 地面光伏，从经济性出发可能选择N型TOPCon，但专利、工艺掌握在中 ...

当前，全球商业航天行业正迎来高速发展期，AI算力需求的爆发式增长更是为行业添上了一把火，太空数据中心成为备受关注的新赛道，而作为航天活 动中性价比最高的电源解决方案，太空光伏也随之迎来发展新机遇。 相较于地面光伏，太空光伏在光照、稳定性、土地利用等方面优势显著，技术路线也在不断迭代升级。 尽管目前太空光伏的市场规模仍较为有限，但随着发射成本的逐步下降，其远期增长潜力巨大，相关产业链企业也将迎来新的发展契机，成为新能源与商 业航天融合领域的优质投资赛道。 2025年上半年，全球商业航天高景气度延续，中国发射入轨卫星数量同比增幅达92%，远超全球平均水平。 国内政策对商业航天的支持力度持续加码，商业航天不仅被纳入"新质生产力"范畴，还连续两年写入《政府工作报告》，2025年国家航天局更是出台专项 行动计划，将空间能源技术列为核心突破方向，为太空光伏的技术研发和场景应用提供了明确的政策支撑。 同时，中国星网GW星座、垣信卫星千帆星座等低轨卫星计划加速推进，叠加2025年底中国向ITU申请的20.3万颗卫星频轨资源，未来几年国内卫星发射 数量将迎来大幅增长，直接带动太空光伏的需求提升。 01 商业航天高景气，政策+需 ...

Core Viewpoint - The global commercial space industry is experiencing rapid growth, driven by the explosive demand for AI computing power, with space photovoltaic technology emerging as a promising investment opportunity due to its cost-effectiveness and advantages over terrestrial solar power [5][10]. Group 1: Industry Growth and Policy Support - The commercial space sector is entering a high-growth phase, with the number of satellites in orbit expected to exceed 11,605 by the end of 2024, dominated by the US at 76% and China at around 9% [6]. - In the first half of 2025, China's satellite launches are projected to increase by 92% year-on-year, significantly outpacing the global average, supported by government policies that emphasize the importance of commercial space [8]. - The Chinese government has included commercial space in its "new quality productivity" category and has committed to developing space energy technologies, providing clear policy support for space photovoltaic technology [8][10]. Group 2: Advantages of Space Photovoltaics - Space photovoltaics have significant advantages over terrestrial solar power, including better sunlight conditions, with solar intensity in space being 36% higher, and the ability to generate power continuously without the need for energy storage systems [12]. - The technology for space photovoltaics is evolving, with three main types of solar cells: gallium arsenide, crystalline silicon, and perovskite, each with distinct advantages and challenges [14]. Group 3: Market Potential and Economic Viability - The current market for space photovoltaics is limited due to high launch costs, but it is expected to grow steadily, with projections indicating a market space of approximately 3 billion yuan from 2026 to 2030, increasing to 12 billion yuan from 2030 to 2035, and further to 25 billion yuan from 2035 to 2040 [17]. - A significant factor for the future market potential of space photovoltaics is the reduction in launch costs, which currently stand at $3,600 per kilogram. If costs can be reduced to $200-$300 per kilogram, the demand for space photovoltaics could see explosive growth, potentially reaching a market size of 500 billion yuan annually [19]. Group 4: Investment Opportunities - The growth of space photovoltaics is directly linked to the high demand in the commercial space sector, with photovoltaic equipment manufacturers, particularly those specializing in HJT and perovskite technologies, expected to be the biggest beneficiaries [21]. - Companies involved in the production of HJT and perovskite battery equipment, as well as ultra-thin silicon wafer cutting, are recommended for investment as the industry demand continues to rise [21].

证券日报网讯1月28日，高测股份在互动平台回答投资者提问时表示，公司深耕光伏硅片切割细分领 域，充分发挥"设备+耗材+工艺"技术闭环优势，持续引领硅片薄片化进程。2022年公司首发80μm超薄 硅片，2023年首发60μm超薄硅片，并在近期已推出50μm超薄硅片。由于光伏电池技术路线的选择，目 前批量供应的硅片主流厚度仍以100-130μm为主，公司已具备小批量交付60-80μm硅片能力，近期已有 多家电池头部客户及研究机构提出50μm硅片送样测试需求，超薄硅片将随着太空光伏超薄柔性HJT电 池的应用逐步打开。超薄硅片规模化切割技术壁垒相对较高，对切割设备、金刚线及切割工艺都提出了 更高要求，公司已布局并规划超薄硅片良率持续提升路径，助力行业加快超薄硅片量产落地。公司对钙 钛矿等前沿技术保持高度关注并已积极布局相关产品。 ...

Core Viewpoint - The company is focusing on the photovoltaic silicon wafer cutting segment, leveraging its "equipment + consumables + process" technology closed-loop advantage to lead the thin wafer trend in the industry [1] Group 1: Product Development - In 2022, the company launched an 80μm ultra-thin silicon wafer, followed by a 60μm ultra-thin silicon wafer in 2023, and recently introduced a 50μm ultra-thin silicon wafer [1] - The demand for ultra-thin silicon wafers is expected to grow with the application of space photovoltaic ultra-thin flexible HJT batteries [1] Group 2: Technical Barriers and Industry Position - The cutting technology for ultra-thin silicon wafers has relatively high technical barriers, requiring advanced cutting equipment, diamond wires, and cutting processes [1] - The company has laid out and planned a path for continuous improvement in the yield of ultra-thin silicon wafers, aiding the industry in accelerating the mass production pace of ultra-thin silicon wafers [1]

格隆汇1月28日丨高测股份(688556.SH)在投资者互动平台表示，公司深耕光伏硅片切割细分领域，充分 发挥"设备+耗材+工艺"技术闭环优势，持续引领硅片薄片化进程。2022年公司首发80μm超薄硅片， 2023年首发60μm超薄硅片，并已在近期推出50μm超薄硅片。超薄硅片的需求预计将随着太空光伏超薄 柔性HJT电池的应用逐步打开。超薄硅片切割技术壁垒相对较高，对切割设备、金刚线及切割工艺都提 出了更高要求，公司已布局并规划超薄硅片良率持续提升路径，助力行业加快超薄硅片量产节奏。 ...

琏升科技 20260114 摘要 联盛科技战略调整：从电池片生产扩展至组件生产及能源科技板块，包 括光伏电站开发、投建、运营及智能微电网开发，旨在补齐短板，增强 现金流和绿色能源开发能力。实控人变更为王新总，其在新能源、稀土 等领域有深耕和布局，预计将为公司带来新的发展机遇。 技术突破：公司在低银含量技术方面取得进展，如 0DB5 组 3 低银含量， 以及薄片化 N 型益智节交互达到 80μm 水平。同时，推进钙钛矿叠层技 术，高效组件达到 745 瓦（210 片），提升产品竞争力。这些技术进步 有助于公司在市场中获得竞争优势。 太空光伏领域布局：联盛光伏专注于 P 型异质结技术，并将其作为太空 卫星光伏的重点技术路线。已成立专班进行相关研发，并在超薄硅片上 积累了相应技术。P 型异质结在太空环境中具有更高的稳定性和轻量化 优势。 P 型异质结与 N 型异质结差异：P 型异质结主要应用于低轨卫星等对稳 定性要求极高的场景，需要改进窗口材料以承受更高 UV 辐射。现有产 线设备基本可以支持 P 型异质结生产，只需调整部分工艺，无需大量资 本开支。 Q&A 联盛科技近期在商业航天领域的布局和进展情况如何？ 联盛科 ...