Hainan Drinda New Energy Technology Co., Ltd. (02865) saw its shares surge by more than 14% at one point during trading. As of the time of writing, the stock was up 10.34%, trading at HKD 35.86, with a turnover of HKD 329 million.
The movement follows reports that SpaceX is establishing over 100 GW of photovoltaic production capacity in the United States, which is expected to be completed within three to four years. Other leading companies, including Blue Origin, Google, and major manufacturers from China, Japan, and Europe, have also begun making strategic moves in this area.
Guangfa Securities noted that as AI giants compete intensely, the concept of "computing power in space" has gained broad consensus. This trend is expected to significantly benefit space-based solar power, which serves as a primary energy source. It is projected that this could ultimately create a market worth hundreds of billions of yuan for photovoltaic equipment.
Shenwan Hongyuan Group believes that the global construction of low-earth orbit satellite constellations and the space computing industry are currently in a period of rapid expansion, creating urgent demand for low-cost, high-efficiency, and lightweight energy solutions.
The company has previously collaborated with Shangyi Photoelectric (now "Stellar Core Energy"), which has ties to the Shanghai Institute of Optics and Fine Mechanics of the Chinese Academy of Sciences, to develop core technologies such as crystalline silicon/perovskite tandem cells and CPI films. These innovations are expected to replace the currently dominant gallium arsenide solutions and overcome cost barriers.
This sector features high technological barriers and a clear market outlook, and it operates independently of the cyclical nature of the ground-based solar industry. It is anticipated to open up new, high-margin growth opportunities for the company.
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