Group 1 - The photovoltaic equipment sector rose by 1.3% on January 5, with Aerospace Machinery leading the gains [1] - The Shanghai Composite Index closed at 4023.42, up 1.38%, while the Shenzhen Component Index closed at 13828.63, up 2.24% [1] - Notable gainers in the photovoltaic equipment sector included Aerospace Machinery, which increased by 10.03% to a closing price of 19.31, and Yuan Tewei, which rose by 9.15% to 49.40 [1] Group 2 - The photovoltaic equipment sector experienced a net outflow of 166 million yuan from institutional investors and 394 million yuan from speculative funds, while retail investors saw a net inflow of 560 million yuan [2] - The trading volume and turnover for key stocks in the sector showed significant activity, with Aerospace Machinery achieving a turnover of 5.518 billion yuan [1][2] - The stock performance varied, with some companies like Maiwei Co. experiencing a decline of 5.81% to 194.03, indicating mixed market sentiment [2]

| 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 002163 | 海南发展 | -9.98 | 11.55 | -56671.67 | | 600759 | 洲际油气 | -2.56 | 19.35 | -21650.80 | | 600515 | 海南机场 | -4.69 | 2.84 | -18611.73 | | 000572 | 海马汽车 | -5.27 | 10.19 | -17201.73 | | 600221 | 海航控股 | -1.66 | 1.59 | -15992.35 | | 000796 | 凯撒旅业 | -6.94 | 12.71 | -13386.73 | | 300189 | 神农种业 | -4.97 | 26.90 | -12239.33 | | 002865 | 钧达股份 | -3.50 | 12.99 | -10484.08 | | 603300 | 海南华铁 | -2.93 | 6.42 | -9025.56 | | 603069 | 海汽集团 | -8.07 ...

Core Viewpoint - The company has achieved a conversion efficiency of over 33.53% for its small-area perovskite-TOPCon tandem solar cells, positioning itself at the forefront of the industry [1] Group 1: Company Achievements - The conversion efficiency of the company's perovskite-TOPCon tandem solar cells has surpassed 33.53%, indicating a leading technical standard in the industry [1] - The company is collaborating with Shangyi Optoelectronics, which has a strong technical background from the Shanghai Institute of Optics and Fine Mechanics, to advance the development of satellite solar cells [1] Group 2: Research and Development - The core team of Shangyi Optoelectronics has extensive experience in perovskite applications for aerospace and has established a unique space simulation research and development platform [1] - The company has completed the first-principles verification of perovskite materials in space environments, laying a solid foundation for subsequent in-orbit verification [1] Group 3: Future Plans - The company is closely collaborating with Shangyi Optoelectronics to promote in-orbit verification and the subsequent industrialization of their technology [1]

Group 1 - The core viewpoint of the news is that JunDa Co., Ltd. has experienced a stock price decline of 2.03% as of January 5, with significant trading activity and fluctuations in recent days [1] - As of January 5, the stock price is reported at 53.50 yuan per share, with a total market capitalization of 15.653 billion yuan [1] - The company has seen a net outflow of main funds amounting to 3.7637 million yuan, with large orders showing a slight imbalance between buying and selling [1] Group 2 - JunDa Co., Ltd. is primarily engaged in the research, production, and sales of photovoltaic cells, with its main products including various types of N-type and P-type solar cells [2] - The company's revenue composition is heavily reliant on photovoltaic cell sales, accounting for 99.79% of total revenue [2] - The company is classified under the power equipment industry, specifically in the photovoltaic equipment and solar cell components sector [2] Group 3 - As of September 30, the number of shareholders for JunDa Co., Ltd. stands at 45,200, with no change from the previous period [3] - For the first nine months of 2025, the company reported a revenue of 5.682 billion yuan, reflecting a year-on-year decrease of 30.72%, while the net profit attributable to shareholders was -419 million yuan, a slight decrease of 0.48% [3] Group 4 - Since its A-share listing, JunDa Co., Ltd. has distributed a total of 319 million yuan in dividends, with 255 million yuan distributed over the past three years [4] - As of September 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited and Wan Jia Quality Life A, with notable changes in their holdings [4]

Investment Rating - The report maintains an "Accumulate" rating for the electric power equipment industry [1] Core Views - The lithium battery prices are rapidly linked, and there is significant long-term potential in space photovoltaic technology [1] - The energy storage sector is expected to see substantial growth, with a projected increase of over 60% in 2026 due to rising demand and supply constraints [3][7] - The electric vehicle market is anticipated to grow by 15% in 2026, supported by continued subsidies and a strong export contribution [26] Industry Trends - The electric power equipment sector experienced a decline of 2.18%, underperforming the market, with specific segments like wind power and new energy vehicles showing slight increases [3] - The report highlights the release of independent energy storage capacity compensation in Hubei Province at 165 RMB/kW·year, indicating government support for energy storage development [3] - The report notes that the global energy storage market is expected to grow significantly, with the U.S. projected to see a 60% increase in energy storage installations in 2025 [7] Market Prices and Changes - Lithium carbonate prices are reported at 112,500 RMB/ton, showing a slight decrease of 0.9% [3] - The average price of polysilicon is reported at 53.00 RMB/kg, with no change, while N-type silicon wafers have seen a price increase of 20% [3] - The report indicates that the average bidding price for onshore wind power is 1,800 RMB/kW, reflecting a competitive market environment [3] Company Performance - Companies like Ningde Times and BYD are highlighted for their strong performance, with Ningde Times expected to see a net profit of 11-16 billion RMB in 2025, representing a year-on-year increase of 127%-230% [3] - Tianqi Lithium and Ganfeng Lithium are noted for their strategic partnerships and production capacity expansions, positioning them well in the lithium supply chain [3] - The report emphasizes the strong growth potential for companies involved in energy storage and lithium battery production, recommending investments in leading firms such as Ningde Times and Yiwei Lithium Energy [3][6]

Group 1 - The core viewpoint of the article highlights that JunDa Co., Ltd. (002865) has transferred shares worth HKD 101 million from Jihau Securities to HSBC Hong Kong, representing 7.42% of the total shares [1] - JunDa Co., Ltd. signed a strategic cooperation framework agreement with Hangzhou Shangyi Optoelectronics Technology Co., Ltd. on December 21, 2025, focusing on the research and industrialization of flexible perovskite technology for space computing and energy applications [1] - The agreement is a preliminary cooperation intention, non-binding, does not involve specific financial amounts, and does not require board or shareholder meeting approval [1]

Group 1 - The core point of the article is that JunDa Co., Ltd. (stock code: 02865) has transferred shares worth HKD 101 million from Jihau Securities to HSBC Hong Kong, representing 7.42% of the total shares [1] - JunDa Co., Ltd. signed a strategic cooperation framework agreement with Hangzhou Shangyi Optoelectronics Technology Co., Ltd. on December 21, 2025, focusing on the research and industrialization of flexible perovskite technology for space computing and energy applications [1] - The agreement is a preliminary cooperation intention, not legally binding, does not involve specific amounts, and does not require board or shareholder meeting approval [1]

12月31日，A股迎来年度最后一个交易日，商业航天概念再度强势走高。催化因素来自政策与产业双重 利好：12月30日，海南省航天领导小组会议在海口召开，明确提出要抢抓商业航天发展（000547）战略 机遇期，加快培育"向天图强"的新质生产力；12月26日，上交所发布《发行上市审核规则适用指引第9 号》，首次细化商业火箭企业适用科创板第五套上市标准，为商业航天企业打通资本市场通道。 更深层的逻辑正在形成。多家券商年度策略会纪要指出，当前商业航天的投资主线已从早期的基础设施 叙事，转向以"太空算力"为核心的新范式——即通过低轨卫星搭载AI芯片，实现星上智能处理，从而缓 解地面数据中心的能源瓶颈。这一闭环不仅提升了商业航天的经济可行性，也使其成为2026年科技投资 的核心主线之一。 在此背景下，市场关注焦点正从火箭、卫星整机制造，向上游高价值核心元器件(如高效能源系统)和下 游应用场景延伸。而光伏，尤其是具备超高能量密度与轻量化特性的钙钛矿电池，正成为支撑"太空算 力"落地的关键技术路径。 近日，光伏电池龙头企业钧达股份（002865）(002865.SZ)宣布与尚翼光电签署战略合作协议，共同推 进钙钛矿电池在太空能 ...

执业证书编号：S0740522100005 光伏设备 | 评级： | 增持（维持） | | 公司盈利预测及估值 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 指标 | | | | | 2023A | 2024A | 2025E | 2026E | 2027E | | 分析师：赵宇鹏 | | | 营业收入（百万元） | | 18,657 | 9,952 | 7,965 | 12,374 | 15,354 | | 增长率 | | | yoy% | | 61% | -47% | -20% | 55% | 24% | | 执业证书编号：S0740522100005 | | | 归母净利润（百万元） | | 816 | -591 | -582 | 633 | 1,054 | | 增长率 | | | yoy% | | 14% | -172% | 2% | 209% | 66% | | Email：zhaoyp02@zts.com.cn | | | 每股收益（元） | | 2.79 | -2.02 | -1.99 ...

2025 年12 月21 日，公司与尚翼光电签署《战略合作框架协议》，双方拟围绕"面向太空算力与空间能 源应用的柔性钙钛矿技术研发与产业化"展开合作，合作内容包括双方共同对太空钙钛矿产品进行联合 研发、公司拟作为战略股东对尚翼光电进行投资以及未来进行太空钙钛矿产品产业化落地。 投资要点 合作尚翼光电，共探太空光伏 钙钛矿电池凭借超轻量化、低成本、高抗辐照性及可柔性卷展等优势，有望成为突破太空能源瓶颈的关 键路径之一。 公司深耕光伏电池技术研发，并在下一代钙钛矿领域提前布局，已与仁烁、中科院、苏州大学等机构开 展合作研发，实现多项技术突破。目前，公司钙钛矿叠层电池实验室效率已达32.08%，处于行业领先 地位；并于2025 年11 月成功下线首片产业化N 型+钙钛矿叠层电池，已具备叠层工艺研发与小规模生产 能力，正稳步推进钙钛矿及钙钛矿叠层电池的商业化应用。合作方尚翼光电是国内稀缺的卫星电池生产 商，其核心团队长期专注钙钛矿航天应用，致力于柔性钙钛矿光伏技术在太空场景的落地。 此次战略合作将充分整合双方在光伏产业化能力、钙钛矿技术积累、太空场景适配及航天资源整合等方 面的核心优势，实现优势互补，卡位太空光伏产业 ...