(Yicai) Feb. 5 -- Chinese solar stocks tumbled after firms in the industry denied being involved in the space photovoltaics business following local media reports that they had been visited by Elon Musk’s staff, which had sent their shares soaring yesterday.

Jinko Solar’s stock [SHA: 688223] ended 6.1 percent lower at CNY7.89 (USD1.10) in Shanghai today after surging by its 20 percent daily trading limit yesterday. Shuangliang Eco-Energy System [SHA: 600481] sank 10 percent to CNY10 (USD1.40), reversing a 10 percent gain the day before.

Gaoce Technology [SHA: 688556] fell 9.3 percent to CNY14.2, following a 2.4 percent rise yesterday, while Jingsheng Mechanical & Electrical [SHE: 300316] dropped 9.9 percent to CNY56.08 in Shenzhen, after adding 13 percent in the prior trading day.

Grand Sunergy [SHA: 603778] went against the trend, climbing a further 3.8 percent to CNY16.80 today on top of yesterday’s 10 percent gain.

Reports yesterday claimed that the US tech billionaire’s team had recently made secret visits to photovoltaic suppliers in China, looking at equipment, silicon wafers, and panel production, with a particular interest in those with heterojunction and perovskite technologies.

As founder of space rocket developer SpaceX and chief executive of electric car and solar energy giant Tesla, Musk has proposed several times since last year to deploy data centers in space to alleviate the computing and power constraints created by rapid advances in artificial intelligence. He has suggested supplying those facilities with energy through photovoltaic satellites.

Jinko Solar has not engaged in any cooperation with Musk’s team, has signed no framework or formal agreements, and has no related orders, the Shanghai-based firm clarified yesterday, adding that space photovoltaics remain at an early stage of technological exploration, with no concrete or commercially viable projects to date.

New energy equipment manufacturer Shuangliang, solar cell developer Grand Sunergy, silicon wafer cutting gear maker Gaoce, and chip equipment supplier Jingsheng also issued similar statements yesterday.

Musk said at the World Economic Forum in Davos last month that SpaceX and Tesla plan to jointly build 200 gigawatts of PV capacity over the next three years, with half of it to be deployed in space. 

Editors: Dou Shicong, Emmi Laine