Core Viewpoint - The A-share controllable nuclear fusion sector has seen significant growth, driven by accelerated commercialization of nuclear energy, with the potential for limitless energy generation if controllable nuclear fusion is realized [1] Industry Overview - Controllable nuclear fusion is based on the fundamental principles of stellar energy release, offering a clean, efficient, and sustainable energy source with minimal radioactive waste [1] - The primary fuels for nuclear fusion are tritium and deuterium, with 1 liter of seawater capable of extracting 0.035 grams of deuterium, releasing energy equivalent to burning 300 liters of gasoline, and the global supply of deuterium from seawater could last for over a hundred billion years [1] Technological Pathways - Global fusion research primarily focuses on two main technological pathways: magnetic confinement fusion and inertial confinement fusion, with ITER being the most representative project for magnetic confinement and the National Ignition Facility (NIF) for inertial confinement [1] - Magnetic confinement fusion is considered the most effective approach for developing fusion energy due to its longer energy confinement time, higher technological maturity, and stronger engineering feasibility [1] Domestic Industry Chain - The domestic controllable nuclear fusion industry chain is taking shape, with upstream companies providing raw materials such as superconducting materials and tungsten-based materials [2] - Key players in the upstream include Western Superconducting (SH688122), Shanghai Superconductor, and Antai Technology (SZ000969), among others [2] - Midstream equipment manufacturers include Western Superconducting and Guoguang Electric (SH688776), which supply components for magnetic confinement systems [2] Application and Commercialization - Downstream application firms include China National Nuclear Power Co. and China General Nuclear Power Group, responsible for the operation and construction of nuclear power plants [3] - The commercialization of controllable nuclear fusion is progressing, with various companies involved, although many have not disclosed the revenue contribution from related businesses [3] - Guoguang Electric's products are key components for the ITER project, while Western Superconducting is the only domestic producer of superconducting materials for ITER and is also involved in the CFETR project [3] Future Prospects - The timeline for the commercialization of controllable nuclear fusion is projected around 2030, with significant advancements expected by 2035 [5] - The BEST project in Hefei aims to enhance the economic viability of nuclear fusion energy and is expected to complete by 2027, potentially becoming the world's first compact fusion energy experimental device [5][6] - Achieving commercial viability requires meeting specific criteria, including maintaining plasma conditions and achieving a fusion gain greater than one [6]

Group 1 - The core point of the article is the rejection of the director remuneration proposal at the annual shareholders' meeting of Parker New Materials, with significant opposition from minority shareholders [2] - The proposal received 687,200 votes in favor, accounting for 34.74% of the total voting rights, while 1,288,500 votes were against, representing 65.14% [2] - The proposal was rejected primarily due to the involvement of non-independent directors, which required them to abstain from voting, thus allowing minority shareholders to have a greater influence [2] Group 2 - The remuneration for the controlling shareholders, Si Yufeng and Zong Liping, was reported as 880,000 yuan and 360,000 yuan respectively, while the independent director received 60,000 yuan [3] - Parker New Materials has shown stable performance since its listing, with continuous profit growth from 2020 to 2023, although the net profit for 2024 is projected to be 264 million yuan, a decrease of 46.37% year-on-year [5] - Zong Liping plans to reduce her holdings by up to 3.6351 million shares through block trading and centralized bidding, potentially cashing out around 200 million yuan based on current stock prices [5][6]

法律意见书 派克新材 PARTNERS 律师事务所 江苏世纪同仁律师事务所 关于无锡派克新材料科技股份有限公司 2024 年年度股东会的法律意见书 南 京 市 建 邺 区 贤 坤 路 江 岛 智 立 方 C 座 4 层 邮 编 : 210019 电 话： +86 25-83304480 传 真： +86 25-83329335 派克新材 法律意见书 一、关于本次股东会的召集、召开程序 1、本次股东会由董事会召集。2025年4月27日,贵公司召开第四届董事 会第二次会议,决定于 2025年 5 月 19 日召开 2024 年年度股东会。 其中,涉及融资融券、转融通业务、约定购回业务相关账户以及沪股通投资 者的投票,应按照《上海证券交易所上市公司自律监管指引第1 号 -- 规范运作》 等有关规定执行。 经查,本次股东会已按照会议通知通过网络投票系统为相关股东提供了网络 投票安排。 3、公司本次股东会于 2025年5月19日 10:00在公司会议室如期召开,会 议由董事长是玉丰主持,会议召开的时间、地点等相关事项与前述通知披露一致。 2 派克新材 法律意见书 2025年4月29日,贵公司分别在《上海证券报》《证券日 ...

证券代码：605123 证券简称：派克新材 公告编号：2025-025 无锡派克新材料科技股份有限公司 2024年年度股东会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：有 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 05 月 19 日 (二)股东会召开的地点：公司会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 97 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 70,427,931 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 58.1228 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，董事长是玉丰主持，本次大会采取现场投票及 网络投票相结合的方式召开并表决。会议的召开和表决均符合《公司法》《公司 章程》等相关法律法规的规定。 (五)公 ...

Core Viewpoint - Parker New Material (605123) reported a decline in net profit and the controlling shareholder plans to reduce holdings due to personal needs [1] Group 1: Financial Performance - In 2024, Parker New Material achieved operating revenue of 3.213 billion yuan, a year-on-year decrease of 11.21% [1] - The net profit for 2024 was 264 million yuan, down 46.37% year-on-year [1] - The decline in performance was primarily attributed to reduced revenue from aerospace and petrochemical forgings [1] Group 2: Production and Sales - In 2024, the production volume of aerospace forgings was 3,763.44 tons, and the sales volume was 3,672.56 tons, representing year-on-year declines of 9.42% and 11% respectively [2] - The production volume of petrochemical forgings was 34,700 tons, with a sales volume of 36,500 tons, showing year-on-year declines of 15.51% and 17.84% respectively [2] Group 3: Strategic Adjustments - The company has recognized the decline in aerospace business and adjusted its fundraising projects accordingly [2] - In October of last year, Parker New Material announced a change in its previously planned fundraising project from "Intelligent Production Line for Special Alloy Structural Components for Aerospace" to "Intelligent Production Line for Large Special Alloy Forgings for High-end Equipment" [2][3] - The new project will be managed by the company's wholly-owned subsidiary, Wuxi Paixin Aerospace Technology Co., Ltd., with a total investment of 785 million yuan, of which 500 million yuan will come from raised funds [2][3] Group 4: Market Demand and Challenges - The company noted that the demand for forgings in sectors such as wind power, nuclear power, aerospace, and deep-sea equipment has been significant, particularly for large-sized forgings [3] - The existing forging production lines are unable to fully meet market demand due to capacity and size limitations [3] - The decision to change the fundraising project was based on a comprehensive assessment of expected investment, market demand, industry trends, and anticipated economic benefits [3]

Group 1 - The controlling shareholder and actual controller of Parker New Materials, Zong Liping, plans to reduce holdings by up to 3,635,125 shares, representing no more than 3% of the total share capital [1] - The reduction will occur through block trading and centralized bidding, with a maximum of 1,211,708 shares (1% of total share capital) through centralized bidding and 2,423,417 shares (2% of total share capital) through block trading [1] - The reduction plan will be implemented within three months after the announcement, starting 15 trading days later, and may be adjusted in case of any changes in share capital [1] Group 2 - Parker New Materials raised a total of 819 million yuan, with a net amount of 758 million yuan, allocated primarily for special alloy materials and components for aircraft engines and gas turbines [2] - The company incurred total issuance costs of 61.11 million yuan, with the underwriting fees to Dongxing Securities amounting to 46.07 million yuan [2] - The company’s stock price is currently below the issuance price from the 2022 private placement [3]

证券代码：605123 证券简称：派克新材 公告编号：2025-023 无锡派克新材料科技股份有限公司 控股股东、实际控制人减持股份计划公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 控股股东、实际控制人持股的基本情况 截至本公告披露日，公司控股股东、实际控制人之一是玉丰先生直接持有无 锡派克新材料科技股份有限公司（以下简称"公司"）24,450,000 股股份，持股 比例为 20.18%，是玉丰通过无锡市派克贸易有限公司（以下简称"派克贸易"） 间接控制公司 0.68%的股份，通过无锡众智恒达投资企业（有限合伙）（以下简 称"众智恒达"）间接持有公司 0.83%的股份；公司控股股东、实际控制人之一 宗丽萍女士直接持有公司 40,270,000 股股份，持股比例为 33.23%。宗丽萍为是 玉丰之配偶，是玉丰和宗丽萍合计直接和间接控制公司 54.93%的股份。上述股 份均为公司首次公开发行股票前已持有的股份，且全部已于 2023 年 8 月 25 日解 除限售并上市流通。 减持计划的主要内容 | ...

派克新材：控股股东、实际控制人之一拟减持不超过3%公司股份 智通财经5月9日电，派克新材(605123.SH)公告，近日，公司收到控股股东、实际控制人之一宗丽萍的 通知，其因自身需要，拟通过大宗交易和集中竞价方式，合计减持其直接持有的公司股份不超过363.51 万股，即不超过总股本的3%。 ...

派克新材（605123）公告，控股股东、实际控制人之一宗丽萍女士拟通过大宗交易和集中竞价方式，合 计减持不超过363.51万股，即不超过总股本的3%。其中，拟通过集中竞价交易方式减持不超过121.17万 股，即不超过总股本的1%；拟通过大宗交易方式减持不超过242.34万股，即不超过总股本的2%。本次 减持计划自公告披露之日起15个交易日后的3个月内实施。 ...

Group 1 - The company will hold its 2024 annual shareholders' meeting on May 19, 2025 [2] - A temporary proposal has been added to the agenda regarding the change of business scope and the amendment of the company's articles of association [3][16] - The proposal was submitted by the controlling shareholder, Shi Yufeng, who holds 20.18% of the company's shares [2][16] Group 2 - The meeting will take place at the company's conference room at 10:00 AM on May 19, 2025 [6] - Online voting will be available through the Shanghai Stock Exchange's shareholder meeting voting system on the same day [7] - The original equity registration date for the shareholders' meeting remains unchanged [9] Group 3 - The proposed changes to the business scope include the addition of "special equipment manufacturing" and "special equipment sales" [16] - The amendments to the articles of association will be submitted for approval at the shareholders' meeting [16] - The final content of the amendments will be subject to approval by the company's registration authority [16]