Title: Musk’s Space Solar Ambition Ignites a New Rally in China’s PV Sector – Strategic Picks for A/H Share Investors
Author: Arvin
Date: February 4, 2026
In a move that has electrified global clean-tech markets, Elon Musk and his SpaceX team have reportedly conducted on-the-ground due diligence visits to leading Chinese photovoltaic (PV) manufacturers—including TCL Zhonghuan–TCL Zhonghuan Renewable Energy–002129.SZ–Solar Silicon, JinkoSolar–JinkoSolar Holding Co., Ltd.–688223.SH–Solar Module, and Jingsheng Mechanical & Electrical–Jingsheng Mechatronics–300316.SZ–PV Equipment—according to insider sources cited by Jiemian News. While none of the companies issued formal confirmations, JinkoSolar acknowledged “recent engagement with a delegation linked to Musk’s team.”
This development coincides with SpaceX’s audacious plan to deploy up to 1 million AI-capable satellites in low Earth orbit (500–2,000 km altitude), powered entirely by space-based solar energy. Leveraging reusable rocket economics and laser inter-satellite links, SpaceX argues that orbital data centers represent the most cost-effective, energy-efficient, and environmentally sustainable solution to meet surging global AI compute demand.
For international investors focused on China’s A- and H-share markets, this isn’t just sci-fi—it’s a tangible catalyst already reflected in market action.
Market Reaction: PV Sector Soars
On February 4, the CSI Photovoltaic Equipment Index surged over 7%, with multiple stocks hitting their 20% daily trading limits:
- JinkoSolar–JinkoSolar Holding Co., Ltd.–688223.SH–Solar Module
- NexWafe (via acquisition vehicle Runze New Energy) – though not yet listed under that name, the entity behind “Runze New Energy” is widely believed to be advancing next-gen wafer tech.
Leverage funds are aggressively positioning. According to East Money Choice data since December 17, 2025:
- LONGi Green Energy–LONGi Green Energy Technology–601012.SH–Solar Wafer/Module: net margin buying of ¥710 million
- Maxwell Technologies (China)–Maxwell Precision Equipment–300751.SZ–PV Equipment: ¥690 million
- Other top inflows include Jingcheng Weichuang–Jiega WeiChuang–300724.SZ–PV Equipment, Risen Energy–Risen Energy Co., Ltd.–300118.SZ–Solar Cell/Module, and Laplace Clean Energy–Laplace New Energy–688726.SH–PV Equipment, each seeing ¥2–5 billion in net financing purchases.
Institutional Outlook: Who Benefits First?
Analysts agree: equipment makers and high-efficiency cell suppliers will lead the space-PV value chain.
Guotai Haitong Securities highlights three key segments:
- Cell Production Equipment:
- Maxwell Precision Equipment–300751.SZ–PV Equipment
- Jiega WeiChuang–300724.SZ–PV Equipment
- Laplace New Energy–688726.SH–PV Equipment
- Dier Laser–Wuhan Dier Laser–300776.SZ–Laser Processing for PV
- Module Assembly:
- Aurora Tech–Wuxi Autoway–688516.SH–PV Equipment/Module Automation
- (Mentioned as related: ST Jingji–Beijing Jingji Microelectronics–000700.SZ–Semiconductor/PV)
- Silicon Wafer & Thermal Management:
- Gaoce Technology–Qingdao GaoCe–688556.SH–Diamond Wire & Slicing
- Jingsheng Mechatronics–300316.SZ–PV Equipment
- Liancheng Numerical Control–Liancheng NC–920368.BJ–Wafering Equipment
- Shuangliang Eco-Energy–Shuangliang Boiler–600481.SH–Efficient Heat Exchangers
Guohai Securities adds strategic emphasis on space-qualified solar cells and thermal systems:
- High-efficiency cell makers:
- Risen Energy–300118.SZ–Solar Cell
- JA Solar (Junction Alliance)–Junction Alliance Holdings–002865.SZ–Solar Cell
- Mingyang Smart Energy–Mingyang Smart Energy Group–601615.SH–Wind + Emerging PV
- Shanghai Harbour Engineering–Shanghai Harbour Group–605598.SH–Offshore Infrastructure / Space Logistics Support? (Note: inclusion likely reflects speculative synergy in heavy engineering)
- Upcoming IPO to watch:
- CETC Lantian–China Electronics Technology Group Lantian–688818.SH (expected listing) – a state-backed aerospace energy specialist.
The Next Frontier: Perovskite for Space
Tianfeng Securities points to perovskite tandem cells as the ultimate game-changer for satellite applications. Compared to traditional gallium arsenide (GaAs):
- 90% lighter
- Power-to-mass ratio: 10–30 W/g vs. GaAs’s 3.8 W/g
- Potential to reduce satellite mass by 200+ kg, saving millions per launch
Key beneficiaries of this R&D trajectory:
- Risen Energy–300118.SZ (already piloting perovskite-HJT stacks)
- JA Solar–002865.SZ
- Aurora Tech–688516.SH (module integration capability)
- Shanghai Harbour–605598.SH (infrastructure angle)
Investment Takeaway
SpaceX’s vision is no longer confined to Mars—it’s creating near-term demand for ultra-light, radiation-hardened, high-efficiency solar solutions, and China’s vertically integrated PV supply chain is uniquely positioned to supply it.
While regulatory and technical hurdles remain, the convergence of AI, space infrastructure, and clean energy has created a powerful narrative—and real capital flows are confirming it.
For overseas A/H investors: Focus on equipment leaders (Maxwell, Jiega, Laplace) and next-gen cell innovators (Risen, JA Solar). Monitor CETC Lantian’s IPO closely—it could become the pure-play space-energy proxy.
Disclaimer: This blog is for informational purposes only and does not constitute investment advice. Past performance is not indicative of future results. Conduct your own due diligence.
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Arvin
Global Markets Analyst | Focused on China’s Tech & Green Transition
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