GCL Optoelectronics has won a 1.2 MW procurement project from China Huaneng Group for commercial-grade perovskite/silicon 'HJT' tandem modules. Slated for delivery by June 2026, the tender strictly demands mass-producible modules with over 26% efficiency and full 'IEC' certification. Marking a major industry milestone, Huaneng noted this is the first public commercial perovskite tandem procurement among China's top five state-owned power generators.

In July 2025, JCC Group's first wholly-owned overseas factory, the Jiangxi Copper (Zambia) Optoelectronics Co., Ltd. wire and cable project, officially commenced full-scale production at the Jiangxi Industrial Park in Zambia. The first phase of the project involved an investment of $11 million, focusing on the production of high-quality low-voltage wire and cable and oxygen-free copper rod, with a core production capacity of 40,000 kilometers of wire and cable and 10,000 mt of oxygen-free copper rod annually. Among them, the specifications of wire and cable products range from 0.3mm² to 630mm², including power cables, power supply cords, building wires, PV wires, industrial control cables, etc.; the specifications of copper semis products cover 0.15mm to 8.0mm, including bare copper wires, bare copper strands, copper rods, etc.

Macro News 1. From June 9 to 10 local time, He Lifeng, the Chinese lead negotiator for China-US economic and trade talks and Vice Premier of the State Council, held the first meeting of the China-US economic and trade consultation mechanism with Beth Van Duyne, the US lead negotiator and US Secretary of the Treasury, Gina Raimondo, US Secretary of Commerce, and Katherine Tai, US Trade Representative, in London, UK. Both sides engaged in candid and in-depth dialogue, exchanged in-depth views on economic and trade issues of mutual concern, reached a consensus in principle on the framework of measures to implement the important consensus reached during the phone call between the heads of state of the two countries on June 5 and to consolidate the outcomes of the Geneva economic and trade talks, and made new progress in addressing economic and trade concerns of both sides. 2. Li Chenggang, China's International Trade Representative and Vice Minister of Commerce, said in London, UK, on the evening of June 10 that over the past two days, the Chinese and US teams had conducted in-depth exchanges and reached a framework on implementing the consensus reached during the phone call between the heads of state of the two countries on June 5 and the consensus reached during the Geneva talks. 3. At yesterday's regular press conference of the Ministry of Foreign Affairs, Lin Jian, a spokesperson, introduced that the Ministerial Meeting of Coordinators for the Implementation of the Outcomes of the Forum on China-Africa Cooperation (FOCAC) was held in Changsha, Hunan Province. President Xi Jinping sent a congratulatory letter to the meeting, announcing that China would implement the measure of zero tariffs on 100% of tariff items for products from 53 African countries with diplomatic relations with China. 4. At yesterday's regular press conference of the Ministry of Foreign Affairs, a reporter asked about CK Hutchison Holdings' sale of overseas port assets. Lin Jian stated that China has consistently and resolutely opposed economic coercion, hegemony, and bullying. Lin Jian reiterated that regarding the navigation of vessels from relevant countries, China will, as always, respect Panama's sovereignty over the canal and recognize the canal's status as a permanently neutral international waterway. Industry News 1. From the evening of June 10 to the afternoon of June 11, 15 original equipment manufacturers (OEMs), including BYD, China FAW Group Corporation, Geely Auto, and Xiaomi Auto, have successively issued statements committing to uniformly controlling the payment period for suppliers within 60 days. This move aims to accelerate the efficiency of capital turnover in the industry chain, ensure the stability of the industry chain and supply chain, fulfill the responsibilities of leading enterprises, and promote the high-quality development of the automotive industry. 2. The General Offices of the Ministry of Industry and Information Technology and the National Development and Reform Commission issued a notice on carrying out the cultivation work of pilot-scale production capacity construction platforms for biomanufacturing. The notice proposed that, based on the current status of biomanufacturing industrialisation and the needs of technological development, and focusing on the shortcomings and pain points in the pilot-scale production links of various fields of biomanufacturing, pilot platforms for key product areas such as food and additives, biopharmaceuticals, cosmetics, chemicals, energy, and enzyme preparations should be cultivated according to the characteristics of technological process equipment, effectively driving the coordinated innovation and development of upstream and downstream enterprises in the industry chain. 3. According to informed sources, with the continuous rise in the popularity of IPs, Pop Mart urgently sought workers to resume work after the Chinese New Year to expand its capacity to meet the surging consumer demand. The individual believes that for brands, when market demand far exceeds the supply chain's response speed. 4. Industrial Securities held a cadre conference yesterday, announcing that Su Junliang, the former chairman of Huafu Securities, would assume the role of Party Secretary of Industrial Securities. Due to age limits for the position, Yang Huahui would no longer serve. Yang Huahui had led Industrial Securities for eight years. According to the reporter, Yang Huahui would have other positions arranged for him subsequently. 5. Nine departments, including the Shanghai Headquarters of the People's Bank of China, jointly issued the "Notice on Leveraging the Role of International Green Finance Hub to Support the Construction of a Beautiful Shanghai". The Notice proposed exploring financial support models for ecological and environmental protection projects in Shanghai, continuously building the Shanghai Green Finance Service Platform, and improving the Shanghai Green Project Library. 6. Data released by the China Association of Automobile Manufacturers (CAAM) showed that in May 2025, China's automobile production and sales reached 2.649 million units and 2.686 million units respectively, up 1.1% MoM and 3.7% MoM, and up 11.6% YoY and 11.2% YoY. From January to May, automobile production and sales reached 12.826 million units and 12.748 million units respectively, up 12.7% YoY and 10.9% YoY. 7. Benefiting from the deep integration of AI large models and augmented reality technology, the smart glasses market has been heating up recently, with strong sales both online and offline. The head of the digital business department of an e-commerce platform introduced that the smart glasses market had shown explosive growth, with trading volume increasing more than eightfold YoY. 8. The General Office of the People's Government of Liaoning Province issued the "Implementation Plan for Promoting Innovative Development of Artificial Intelligence in Liaoning Province". It proposed that by 2027, the province's computing infrastructure construction system would be basically formed, achieving a computing power scale of over 5000 PFLOPS, and the core industry scale of artificial intelligence would reach 100 billion yuan. Corporate News 1. *ST Yazhen announced that due to multiple instances of abnormal fluctuations in stock trading, it would suspend trading for verification starting today. 2. Industrial Securities announced that as of now, it had not received any information regarding a "merger with Huafu Securities". 3. Shuangliang Eco-Energy announced the signing of a 450 million yuan sales contract for green electricity-based hydrogen production systems. 4. *ST Jinbi announced that Yuanyichengwu would become the company's controlling shareholder, and its stock would resume trading. 5. Hesheng New Materials announced plans to invest 250 million yuan in ARM server processor chip company Yizhi Electronics. 6. Junshi Biosciences announced that the clinical trial application for its controlled subsidiary's JT118 injection had been accepted, intended primarily for the prevention of monkeypox virus infection. 7. ST Red Sun announced that it would remove other risk warnings starting from June 13, and its stock abbreviation would be changed to "Red Sun". 8. Aurora Optoelectronics announced that the company has a solid position in the backlight module for Switch 2 and will increase R&D efforts in high-end products in the future. 9. KDLI announced its intention to jointly invest with VEICHI Electric and others to establish Suzhou Yizhi Smart Drive Technology Co., Ltd. 10. Yinlun Machinery announced its intention to contribute 10 million yuan to jointly establish Suzhou Yizhi Smart Drive Technology Co., Ltd. 11. Tinci Materials announced its intention to invest in and construct an integrated production base for electrolytes and raw materials in Morocco. 12. Changshan Pharmaceutical stated on an interactive platform that the suspension of the listing of Abenatide is unrelated to the combined listing approval for weight loss. Global Markets Most European and US stock markets fell, while international crude oil futures settlement prices surged over 4%. US stocks moved downwards after a higher opening, with all three major indices closing lower. The Nasdaq fell 0.5%, the S&P 500 fell 0.27%, and the Dow Jones Industrial Average fell by 1 point. Intel fell over 6%, marking its largest single-day decline in two months. Oklo surged nearly 30%, hitting a record closing high, as the company reached a nuclear power agreement with the US Air Force. Space technology company Voyager Technologies Inc. (VOYG) surged over 82% on its first day of trading in the US IPO. Popular Chinese ADRs had mixed changes, with the Nasdaq Golden Dragon China Index rising 0.08%. Major European stock indices closed with mixed changes, with the German DAX30 rising 0.04%. International crude oil futures settlement prices surged over 4%. WTI crude oil futures for July rose 4.88%, and Brent crude oil futures for August rose 4.33%. COMEX gold futures rose 0.9%, while COMEX silver futures fell 0.76%. Investment Opportunities Reference 1. Officially entering the mass production stage, a key milestone in the construction of a large-scale aviation equipment system On June 11, the large amphibious aircraft AG600, independently developed by the Aviation Industry Corporation of China (AVIC), was awarded the Production Certificate (PC) by the Civil Aviation Administration of China (CAAC) in Zhuhai, Guangdong. This marks the official entry of China's large amphibious aircraft into the mass production stage and is a key milestone in the construction of China's large-scale aviation emergency rescue equipment system. Founder Securities pointed out that the civil aircraft manufacturing industry holds profound strategic significance for the country, directly linked to national economic growth, employment opportunities, and technological progress. This industry not only significantly boosts economic growth but also drives substantial employment and plays a huge role in promoting technological development, particularly in the fields of new materials, new energy, and advanced electronic technologies. The development level of the large aircraft industry has become an important indicator of a country's technological and industrial strength, as well as its international competitiveness. Additionally, the large aircraft industry also holds significant military application value, playing a crucial role in enhancing the quality and level of the national defense industry. 2. Smart dexterous hand developed by Chinese researchers achieves human-like adaptive grasping for the first time According to media reports, the breakthrough bionic dexterous robotic hand, F-TAC Hand, was recently published in the international journal Nature Machine Intelligence. This system integrates high-resolution tactile sensing across 70% of its palm area, achieving human-like adaptive grasping capabilities for the first time and marking a significant leap forward in robotic intelligence and its ability to interact in real dynamic environments. This breakthrough was jointly achieved by the Beijing Institute for General Artificial Intelligence and Peking University. Huaxi Securities believes that dexterous hands are crucial for the practical application of humanoid robots, and subsequent updates and iterations will still present significant technical challenges. Producers with the capability to design and manufacture dexterous hands are expected to have a stronger voice in the industry chain and may lead in profitability. Additionally, to enhance the functionality of dexterous hands, the demand for key components such as lead screws, reducers, motors, tendon cables, and tactile sensors will increase. The firm remains optimistic about technology-leading enterprises with advanced industrial layouts. 3. Another solid-state battery conference is set to take place in June, with institutions affirming the industry's long-term development trend The "5th China International Solid-State Battery Technology Conference & 2025 Advanced Battery Materials and Intelligent Equipment Technology Exhibition" will be held in Hefei from June 19-20, 2025. The conference will feature six themes covering solid-state batteries, cathode and anode materials, sodium-ion batteries, battery safety, battery recycling, lithium resources, as well as testing instruments and equipment enterprises. It will comprehensively showcase the latest research, technologies, processes, and equipment advancements, and delve into the future development directions of the new energy industry. Recently, CATL's 21C Innovation Lab published its research findings on lithium metal batteries in the international journal Nature Nanotechnology. This research is expected to accelerate the transition of solid-state batteries from laboratory to large-scale application. Yang Rui from Huaxi Securities believes that with the maturation of battery technology and the improvement of the supporting industry chain, new solid-state-related products are expected to be launched successively, capacity construction will continue to progress, and terminal performance is anticipated to be continuously validated, accelerating the industrialisation process. Yao Yao from Sinolink Securities believes that the long-term development trend of solid-state batteries is certain, and attention should be paid to incremental segments. Recent industry changes focus on the fibrillation of raw materials and lithium metal anodes. 4. Industry leader launches AI medical product matrix to meet users' diverse healthcare management needs Recently, at a launch event, Ping An Good Doctor announced the official rebranding of Ping An Health Medical Technology Co., Ltd. to "Ping An Good Doctor." The company unveiled its annual medical and health service brand and introduced a comprehensive "7+N+1" AI medical product matrix that covers all scenarios, cycles, and ecosystems to meet users' diverse healthcare management needs. AI technology can not only assist doctors in identifying fracture lesions but also aid in early disease screening. Nowadays, it is also taking on the crucial task of intelligent patient triage. According to Southwest Securities, statistics show that over 830 hospitals nationwide have successively completed the localized deployment of DeepSeek-R1, driving the digital and intelligent transformation of hospitals. Application scenarios include monitoring medical quality, optimizing hospital resource allocation, assisting in diagnosis, and ensuring data security. The comprehensive open-sourcing and multi-domain adaptation of the domestic large model DeepSeek-R1 marks a new stage of technological integration and industry restructuring in AI healthcare, drawing attention to the accelerated development and investment opportunities in the AI healthcare sector.

Guided by the "dual carbon" goals, the PV industry is accelerating into a new phase of high-quality development characterized by "safety + greenness". On June 10th, the "Safety and Green Technology Seminar", hosted by Zhongjian Materials, was successfully held in Shanghai. At the event, the highly anticipated "double-beam alloy steel frame" was unveiled, becoming an innovative solution to address extreme weather conditions and enhance module safety. Representatives from state-owned enterprises, EPC companies, leading module manufacturers, as well as experts and scholars, gathered to discuss the future development path of the PV industry driven by "hard technology". Safety First: The Double-Beam Alloy Steel Frame Makes a Grand Appearance With the increasing frequency of extreme weather events, the severity of power plant safety incidents is escalating. Amidst the ongoing trends of larger and thinner modules, there is an urgent need for breakthroughs in the mechanical strength of PV systems, and the industry is in dire need of higher safety-level load standards. Deng Ruhua, Technical Manager of Zhongjian Materials, systematically introduced the company's latest R&D achievement—the double-beam alloy steel frame—in response to the climate challenges and structural bottlenecks faced by the industry. Based on three generations of technological iterations, this product utilizes high-strength zinc-aluminum-magnesium alloy steel, significantly enhancing corrosion resistance and structural strength. Its "Dragon Head" structure on the A-side effectively prevents dust accumulation, the load-bearing beam on the B-side offers strong load-bearing and cushioning capabilities, and the reinforcing beam on the C-side optimizes the bifaciality and enhances tear resistance. The frame's appearance is highly consistent with traditional aluminum frames, compatible with existing module production and installation processes, offering excellent adaptability and substitutability. With a front-side ultimate load capacity of up to 10,000 Pa, it can withstand typhoons of up to Category 17. Its carbon emissions are reduced by 61.8% compared to aluminum frames, achieving a dual improvement in greenness and safety. Currently, the product has passed multiple extreme environment tests, including IEC63556, and is particularly suitable for harsh application scenarios such as "desert, gobi, and wasteland", high winds and snow, and severe hailstorms. Wind-Resistant Modules Demonstrated in Multiple Locations, Zero-Loss Performance Attracts Attention Qiu Guohui, Vice President of Jolywood and General Manager of the Application BU, introduced that the "Wind-Resistant Module" featuring a "single-glass + transparent backsheet + double-beam alloy steel frame" design has been successfully applied in 19 provinces across the country, with a total installed capacity of 168 MWp. After enduring multiple rounds of extreme weather conditions, including strong typhoons, hailstorms, and heavy snowfall, only one module suffered external damage, while the rest remained intact, fully demonstrating the high safety and reliability of the "Wind-Resistant Module" and attracting significant attention from power plant investors. Mr. Qiu also pointed out that the dust-prevention design of the double-beam alloy steel frame can enhance the power generation efficiency of the Wind-Resistant Module, further increasing power generation revenue for power plant investors. Dr. An Chao, R&D Technical Director of Jolywood Optoelectronics, noted that the steel frame, with its superior strength performance (front-side load capacity of 8,100 Pa, back-side load capacity of 3,200 Pa) and good compatibility, has proven its reliability in multiple Jolywood projects, with cumulative shipments and orders approaching 400 MW. Aluminum frames are becoming a critical pathway to meeting the requirements for high-quality development. Technology and insurance drive the solidification of green foundations. Dr. Liu Jie from Baosteel Central Research Institute introduced the green application of BaoXM® zinc-aluminum-magnesium coated steel sheets in PV frames, which not only enhances corrosion resistance but also helps address carbon tariffs. This material exhibits excellent formability and self-healing capabilities at cut edges, making it widely applicable in coastal and extreme climate zones. Baosteel offers a variety of high-coating products with specified corrosion resistance lifespans, ensuring long-term and stable supply. Lu Peijian, Deputy General Manager of PICC Suzhou Branch, pointed out that natural disasters currently account for over 60% of the risks in PV power plants. He highly praised the risk-resistance capabilities of steel-framed modules and expressed his intention to promote the transformation of insurance from "post-event compensation" to "risk reduction + capital synergy," supporting the steady development of the industry. Relying on its experience serving top-tier enterprises such as LONGi, PICC Suzhou provides comprehensive, one-stop risk protection for the industry. Strategic Signing to Elevate Collaboration At the event, Zhongjian Materials signed strategic cooperation agreements with PowerChina Guiyang Engineering Corporation and PowerChina Sichuan Engineering Corporation, as well as a 500MW steel frame project agreement in Shizuishan, Ningxia, with Saifute New Energy, demonstrating customers' high recognition of Zhongjian's products and technological approach. Zhang Haichao, Member of the Party Committee and Deputy General Manager of PowerChina Guiyang Engineering Corporation, stated that complex environments such as high altitudes and high wind pressures impose higher safety requirements on structural materials. The technological breakthrough in Zhongjian's double-beam steel frames provides more efficient and reliable structural solutions for the corporation. This strategic cooperation will usher in a new chapter of complementary advantages and synergistic development between the two parties. Returning to Essentials, Ushering in the Era of "Tough Competition" At the end of the seminar, Lin Jianwei, the founder of Jolywood Group, delivered a speech. He noted that although the PV industry is in a phase of rapid development, it is experiencing anxiety due to cut-throat competition, with intensified cost-reduction and capacity competition. However, the core of future industry competition will no longer be mere scale expansion but rather a return to product quality, technological innovation, and value creation, ushering in the era of "tough competition." Taking Zhongjian's steel frames as an example, he recounted the seven-year innovation journey spanning three generations: from project initiation in 2018 to achieving hundred-megawatt-scale applications in 2024, and plans to advance to gigawatt-scale promotion in 2025. Lin Jianwei emphasized that the core innovation of Zhongjian's steel frames lies in the "double-beam" structure. By pioneering the "double-beam" structural design and process optimization, they have successfully addressed pain points such as the easy deformation of aluminum frames, combining high safety with cost advantages. It is expected that within five years, this technology will become a mainstream solution, significantly enhancing module quality and reliability. He called on the industry to build consensus and, supported by professionalism, technology, and ecological collaboration, jointly construct a safer, greener, and higher-quality PV ecosystem. The PV industry has broad prospects, with the power and scale of modules continuing to increase. Developing more reliable, safe, and green system solutions has become a common goal for the industry. Zhongjian Materials will continue to lead the new era of steel frames with cutting-edge technology, contributing to the global energy transition. The future is here; let's join hands as peers to create a bright future together!

At 20:06 local time in Zambia on June 7, 2025, the site of the oxygen-free copper rod project of JCC (Zambia) Optoelectronics Co., Ltd. (hereinafter referred to as "JCC Zambia") was filled with jubilation—the up-casting furnace was officially started for production. This key project, which carries the mission of optimizing the industrial layout of JCC South China Company in Zambia, achieved a crucial breakthrough, adding another footnote to the in-depth development of the Belt and Road Initiative on the African continent. After 270 days of intense efforts, the oxygen-free copper rod production line with a designed capacity of 8,000 mt per year was finally successfully started for production, marking the official commissioning of the largest and most advanced copper processing benchmark project in Zambia to date.

On June 5, the People's Government of Pujiang County, Zhejiang Province, issued the "Notice on Several Policy Measures to Promote High-Quality Economic Development (2025 Edition)". The document states that it is necessary to build a modern industrial system. Focus on strategic emerging industries such as PV and optoelectronics, high-end equipment (machine tools), and electronic information, and cultivate a number of high-end industrial clusters with high technology, high added value, and high technological content. Promote the deep integration of advantageous traditional industries such as crystal (fashion accessories), quilting (textile and apparel), and locks (intelligent security) with intelligent manufacturing, green intelligent manufacturing, and service-oriented manufacturing. Target new fields and tracks such as hydrogen energy equipment, and make forward-looking arrangements for future industries. In 2025, the output value of the seven key industry chains is expected to reach 31 billion yuan, with efforts to attract eight major projects worth over 1 billion yuan each.