SAIWU Technology (603212) Limit-Up Analysis: Driven by Perovskite Technology Breakthrough and New Energy Policy Dividends

This analysis is based on NetEase News Report[1]. SAIWU Technology (603212) hit the limit-up on November 19, 2025.

SAIWU Technology (603212) is an A-share listed company focusing on polymer functional materials [0], founded in 2008 and listed in 2020. Its main businesses include photovoltaic materials (71.63%), semiconductor materials (21.34%), etc. [0]

The company became the world’s first to achieve mass delivery of light conversion films for perovskite tandem modules, with products delivered to U.S. photovoltaic enterprises [4]. As a core direction of next-generation photovoltaics, perovskite technology has high theoretical efficiency and low cost [8], and this breakthrough establishes the company’s technological leading position.

On the day, the turnover was 214 million yuan, the main net inflow was 110 million yuan, and the turnover rate was 3.60% [0], indicating strong market optimism.

The national new energy “anti-involution” policy curbs low-price competition [7], and the 15th Five-Year Plan clarifies the development positioning of new energy [0], providing guarantee for the high-quality development of the industry.

It is expected that the global perovskite module shipment will reach 20GW in 2030, with a CAGR of over 200% from 2025 to 2030 [0], showing broad market space.

The company has significant technological advantages, coupled with policy and market dividends, and has great medium- and long-term growth potential [0]. However, attention should be paid to the risks of intensified industry competition and the progress of technology commercialization [0].