According to CITIC Securities, BC batteries have emerged as formidable competitors in the distributed market, leveraging their high power output and aesthetic appeal. Characterized by a front-side grid-line-free design and an interdigitated back-side electrode layout, BC battery technology encompasses intricate processes requiring stringent precision, necessitating the integration of multiple laser processing steps. As a versatile platform technology, BC batteries are compatible with advanced technologies such as TOPCon and HJT, and can be synergistically combined with other passivated battery technologies. The outlook for BC technology is promising, with significant growth anticipated in 2025. Investors are advised to keep a close eye on material enterprises that boast leading technological edges, as well as potential value enhancement opportunities within the equipment and material segments.