On February 4th, Shanghai Securities Journal confirmed from multiple sources in the photovoltaic industry chain that a team from Elon Musk's company recently visited China to inspect the photovoltaic industry chain. “There were two groups from SpaceX and Tesla, one group inspected the space scenario industry chain, while the other looked at the ground industry chain. Therefore, different technological routes were examined. The space scenario focused on heterojunction and full-line equipment. The ground scenario also looked at TOPCon.” A representative from a heterojunction photovoltaic company told Shanghai Securities Journal.
On February 4th, GCLSI, Jinko Solar, TZE, and High Measurement Co., Ltd. confirmed to the media that they had been in contact. However, Jingcheng Electromechanical, Shuangliang Energy Saving, and Jinko Solar disclosed unusual announcements after the market closed, warning of related risks.
<h2>Photovoltaic Industry Chain Companies Confirm Contact with Musk's Team</h2>
On the evening of February 4th, Shanghai Securities Journal learned from sources close to GCLSI that on February 4th, the Chinese team from Musk's company inspected GCLSI, and both parties discussed cooperation intentions regarding granular silicon and perovskite. GCLSI has a granular silicon and perovskite R&amp;D center in the United States and intends to build granular silicon and perovskite production capacity in the U.S. in the future.
On the evening of February 4th, Jinko Solar issued an unusual announcement stating that market rumors suggested Musk's team had secretly visited several photovoltaic companies in China recently, and the company had been in contact with Musk's inspection team. Upon verification, as of now, the company has not engaged in any cooperation with the relevant team, nor signed any framework agreements or formal agreements, and has no orders on hand.
High Measurement Co., Ltd. confirmed to the media that the company had indeed been in contact with Musk's team, but clarified that no cooperation has been reached yet. When asked about specific timing, form, and potential cooperation content, the company stated that it was inconvenient to disclose more details.
A responsible person from TZE stated to the media that the company presented relevant information about its component technology to Musk's team, and this is currently just preliminary contact. Musk's team is gathering information about the company's technological reserves, but cooperation intentions and specific orders are not yet involved.
Shanghai Securities Journal learned from industry insiders that Musk's team conducted a very comprehensive inspection of the photovoltaic industry chain from top to bottom, visiting companies including Maiwei Co., Ltd. and other equipment manufacturers, as well as inspecting heterojunction battery production enterprises.
Shanghai Securities Journal learned that on the morning of February 4th, during a photovoltaic listed company exchange event organized by a brokerage, an investor inquired about the progress of Musk's team coming to &#34;inspect the factory&#34; regarding Jingcheng Electromechanical. A relevant person from Jingcheng Electromechanical stated that they could not currently communicate about North American customer situations.
If Musk's side intends to establish new photovoltaic production capacity, procuring equipment is a normal operation, but what is the intention behind inspecting battery and component companies? Is there a possibility of cooperation between the two parties?
The aforementioned heterojunction industry insider stated, currently, the U.S. photovoltaic industry has a certain gap with China in terms of upstream silicon materials, equipment, and products, and will need to ramp up production capacity in the future. In the early stages of Musk's photovoltaic production capacity, battery companies may need to cooperate to conduct some verifications.
<h2>Multiple Companies Warn of &#34;Space Photovoltaic&#34; Investment Risks</h2>
After the market closed on February 4th, some photovoltaic listed companies issued unusual announcements, warning investors that space photovoltaic is still in the early stages of the industry and that investment risks should be noted
Jinko Solar announced that the current &#34;space photovoltaic&#34; technology is still in the preliminary exploration stage, the technical route is uncertain, and there are no specific feasible projects yet. As of now, the company's main business products are still focused on the ground photovoltaic field, and the company has not generated any order revenue related to &#34;space photovoltaic,&#34; which has not affected the company's operating performance. The company also reminded that the photovoltaic industry is currently in a deep adjustment period of phase supply-demand imbalance, and investors should pay attention to the potential risks brought by the deep adjustment in the photovoltaic industry.
Jingsheng Electromechanical announced that recently, the capital market's attention to concepts such as &#34;space photovoltaic&#34; has been continuously rising, and related sectors have shown high market heat. Currently, the application scenarios of &#34;space photovoltaic&#34; are still in the exploration stage, and the industrialization process still faces uncertainties. The company's main business covers the research, production, and sales of photovoltaic industry chain equipment such as silicon wafers, batteries, and modules, as well as auxiliary materials such as quartz crucibles and diamond wires. As market attention to the photovoltaic field continues to increase, it may indirectly affect investors' expectations for the company's future business expansion. Investors should fully recognize the risks of the stock market, avoid blindly chasing market hotspots, make prudent decisions, and conduct rational investments to avoid investment risks caused by concept speculation.
Shuangliang Energy Conservation announced that the company has not recognized any operating income related to commercial aerospace projects in the past two years, and there is uncertainty regarding the development of related businesses. The company's main products related to the photovoltaic industry include polysilicon reduction furnace systems, monocrystalline silicon, and high-efficiency photovoltaic modules. &#34;Space photovoltaic&#34; is currently still in the technical exploration and ground verification stage, with significant uncertainties in its commercialization path, cost structure, and on-orbit operation and maintenance system, and it has not formed a scalable industrial closed loop, contributing no substantial benefit to the company's current performance. The company has not yet engaged in any business related to space photovoltaic.
<h2>Musk Builds Domestic Photovoltaic Capacity in the U.S.</h2>
Musk recently clearly supported space photovoltaic at the Davos Forum and disclosed key capacity planning, with SpaceX and Tesla aiming to achieve an annual solar manufacturing capacity of 100GW within the next three years.
Many companies believe that Musk's move aims to break free from the constraints of Chinese photovoltaic manufacturing.
Currently, Chinese photovoltaic companies still face policy barriers when entering U.S. domestic manufacturing. At the aforementioned exchange meeting, a photovoltaic equipment company told investors: &#34;In fact, some Chinese companies cannot start their capacity in the U.S. because they cannot receive subsidies even if they do. The apparent component capacity in the U.S. is over 40GW, but the actual capacity that is truly operational is less than 20GW. The U.S. hopes to cultivate domestic photovoltaic capacity.&#34;
Regarding whether Musk's new 100GW photovoltaic capacity will impact the existing photovoltaic market, the equipment company believes the impact will be minimal, as this capacity is likely to be primarily used internally by Musk's companies rather than supplied to the photovoltaic power generation market like mainstream photovoltaic companies.
The aforementioned heterojunction industry personnel also stated that they have not seen Musk's move into the traditional photovoltaic market, and since the company currently does not cover the U.S. market, they expect the impact to be minimal.
Source: [Shanghai Securities Journal](https://mp.weixin.qq.com/s?__biz=MjM5MDIwNDEyMg==&amp;mid=2651224998&amp;idx=1&amp;sn=2724378e77cb7535421fd85211670724&amp;chksm=bcd3cff22a3d6ac0fc31fba95b0293bc52fb66ae310c8214dbdbaa7c0c11ea2e5958844698f0&amp;scene=0&amp;xtrack=
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Recently, the team under Musk has been intensively investigating China's photovoltaic industry chain, engaging with companies such as GCLSI, Jinko Solar, TZE, and Highpower International. Several companies subsequently issued announcements clarifying that no formal agreements or orders have been signed yet, and they reminded that "space photovoltaic" is still in the early exploration stage, with uncertainties

Elon Musk's team inspects the photovoltaic industry chain! Listed companies respond intensively