The world is rich in solar energy resources. When converted into electrical energy, these resources can promote environmental protection and energy efficiency. Given that various countries are emphasizing the importance of renewable energy development and the rapid development of new energy technologies, photovoltaic (PV) power generation has entered a new, large-scale phase after an initial phase of slow development. From 2000 to the present, due to the decreasing cost of PV power generation, the global PV industry has become a rapidly developing market, and newly added PV power generation capacity has increased annually. In 2014, global newly added PV power generation capacity was 47 gigawatts (GW), with cumulative capacity reaching 188.8 GW. Global cumulative installed capacity between 2005 and 2014 is shown in Fig. 1 [1]. Due to the early implementation of a feed-in tariff system, countries of the European Union emerged as leaders in the global PV industry [2,3]. However, affected by the European debt crisis in 2011, countries such as Germany and Italy quickly decreased the feed-in tariff, which resulted in a decrease in Europe’s share of newly added PV power generation capacity from 85.12% of global capacity in 2008 to 23.70% in 2013 [4]. The development pattern of the global PV industry has thus been changing with the rapid development of emerging markets, such as China, Japan, and the United States, whose market shares continue to increase [1]. In 2014, China’s market share of global newly added power generation capacity increased to 27.70%, up from 0.60% in 2008, ranking first worldwide for the first time. Japan’s newly added PV capacity was 10.5 GW, ranking second, while that of the United States was 8.6 GW, ranking third [5]. The vigorous development of overseas emerging markets has pushed China’s PV industry structure towards globalization instead of heavy dependence on the European market. Encouraged by national policies and funding, China’s PV industry has developed rapidly. Through the introduction, digestion, absorption, and re-innovation of overseas technology, China has become the world’s largest producer of solar cells [6]. Of the world’s 10 largest solar cell manufacturers, China accounts for six [8]. In 2012, due to factors such as overcapacity and harsh competition, the price of solar cells substantially decreased. By 2015, at least 180 solar cell manufacturers worldwide had entered bankruptcy or merged [9]. In 2014, the global PV industry started to recover. In that year, China’s solar cell industry had a total energy production of 4,736.90 million kilowatts, which represented an increase of 28.14%. As the industry is expanding, market concentration is decreasing. Changes in the market structure and the enhancement of competition will inevitably have a profound impact on China’s PV cell industry. In the same year (2014), the performance of solar cell enterprises in the same external environment varied substantially. Is the implication that the performance of China’s solar cell companies is also affected by efficiency? Studying the source of the performance of China’s solar cell enterprises has substantial practical significance and is thus a necessity. Research in this area will help promote sustainable development in China [10].