GCL TECH (03800) rose nearly 4% in afternoon trade. By the time of writing, the stock had advanced 4.55% to HK$1.15, with a turnover of HK$311 million. On February 4, in response to rumors that teams from Elon Musk’s SpaceX had recently visited several Chinese photovoltaic companies, a representative from GCL Group confirmed that a team from Musk’s companies visited GCL Group that day. The team learned about GCL’s granular silicon and perovskite business arrangements in the United States. Bank of Communications International released a research note stating that the commercial space theme has recently gained traction. Perovskite batteries, with their extremely high energy-to-mass ratio, are expected to become the preferred choice for space photovoltaics and will accelerate in development. GCL Photovoltaics, an associate company in which GCL TECH holds a 43.65% stake, is currently one of the top three perovskite industry leaders. Its GW-level production line has already commenced operations and is set to benefit significantly. Additionally, the EU Carbon Border Adjustment Mechanism will officially take effect on January 1, 2026. Granular silicon is expected to transition from a discount compared to rod silicon to a premium.