BRIEF: Drinda takes Starwing stake to expand into space-based apps

Photovoltaic cell maker Hainan Drinda New Energy Technology Co. Ltd. (2865.HK; 002865.SZ) said on Wednesday it plans to invest 30 million yuan ($4.3 million) in Shanghai Starwing Core Energy Technology Co. Ltd., making it the company’s second-largest shareholder with a 16.7% stake.

Starwing was founded in January 2026 by the team behind Hangzhou Shangyi Optoelectronic, which took over Shangyi Optoelectronic’s assets, operations and staff. Shangyi is now being reorganized as a wholly owned subsidiary of Starwing. According to the announcement, Starwing and Drinda will jointly establish manufacturing ventures for CPI film and CPI film-silicon solar cell integrated products.

Drinda said the partnership will help it tap opportunities in low-Earth-orbit satellite constellations and the space computing industry, leveraging complementary strengths in photovoltaic industrialization and perovskite technology. The partnership is expected to broaden product application scenarios and support the company’s strategic expansion from ground-based photovoltaics into space-based solar applications.

Last December, Drinda also signed a similar agreement with Shangyi Optoelectronic to pursue R&D and commercialization of flexible perovskite technologies for space computing and space energy applications. Shangyi Optoelectronic is a satellite battery maker with years of experience in aerospace perovskite applications, and has built a proprietary space-environment simulation R&D platform. The company has completed first-principles verification of perovskite materials under space conditions.

Drinda’s Hong Kong-listed shares opened higher on Thursday but later turn down to close at HK$23.96 by the midday break, down 2.44%.

By Lee Shih Ta

To subscribe to Bamboo Works weekly free newsletter, click here