Group 1: World Bank's Nuclear Energy Financing Policy - The World Bank has lifted a decades-long ban on nuclear energy financing to accelerate the development of low-emission technologies and meet the growing electricity demand in developing countries [2][3] - The World Bank plans to support efforts to extend the lifespan of existing nuclear reactors and assist in upgrading power grids and related infrastructure [3][4] - The bank aims to help develop small modular reactors, which are expected to be cheaper and faster to construct compared to traditional reactors [3][5] Group 2: Global Nuclear Fusion Developments - Proxima Fusion, a German nuclear fusion startup, has secured €130 million in funding, marking the largest investment in the European nuclear fusion sector to date [6][7] - The funding will be used to build a "stellarator model coil" by 2027, which is crucial for achieving key technological breakthroughs [7][8] - Proxima Fusion plans to construct a demonstration plant by 2031, with an estimated cost of €1 billion, and aims to partially secure funding from European governments [7][9] Group 3: Investment Opportunities in Nuclear Fusion - The global nuclear fusion policy trend is strengthening, with Japan advancing its fusion energy timeline from 2050 to 2030 [11] - Companies in the nuclear fusion sector are expected to benefit from ongoing technological advancements and supportive policies, creating investment opportunities across the entire industry chain [12] - The focus on high-barrier and high-value segments within the nuclear fusion supply chain is recommended for potential investment [12]

Group 1 - The controllable nuclear fusion concept has seen a rise of 1.51%, ranking 9th among concept sectors, with 44 stocks increasing in value [1] - Notable gainers in the controllable nuclear fusion sector include Rongfa Nuclear Power, Hongxun Technology, and Changfu Co., which saw increases of 10.04%, 9.99%, and 9.79% respectively [3][4] - The sector experienced a net inflow of 1.442 billion yuan, with 34 stocks receiving net inflows, and five stocks exceeding 50 million yuan in net inflow, led by Rongfa Nuclear Power with 937 million yuan [2][3] Group 2 - The top stocks by net inflow ratio include Hongxun Technology at 39.74%, Rongfa Nuclear Power at 29.99%, and Libat at 11.99% [3][4] - The overall market saw various concept sectors with mixed performance, with hair medical leading at 2.02% and the Korean Free Trade Zone declining by 1.52% [2] - Stocks such as Shun Sodium Co., Guoli Co., and Fuhuang Steel Structure faced declines of 3.53%, 3.44%, and 2.29% respectively [1][6]

Group 1 - Libet has received approval from the China Securities Regulatory Commission for the issuance of convertible bonds, valid for 12 months [1] - Dinglong plans to acquire an additional 8% stake in its subsidiary, increasing its ownership from 91.35% to 99.35% for a total price of 240 million yuan [1] - Longyuan Donggu has been designated as a supplier for a major automotive project, with an expected total sales amount of 450 to 500 million yuan over five years [14] Group 2 - Luoniushan reported a sales revenue of 100 million yuan in May, a year-on-year decrease of 11.45% [2] - Baoming Technology has secured a loan commitment of up to 7 million yuan for stock repurchase [2] - Xinhua Pharmaceutical has received approval for the listing of a new chemical raw material used in treating chronic heart failure and hypertension [3] Group 3 - China Minmetals announced a new contract amount of 396 billion yuan for the first five months of the year, a decrease of 22.2% year-on-year [7] - Zhongbei Communication's application for a specific stock issuance has been accepted by the Shanghai Stock Exchange [8] - Rongfa Nuclear Power plans to issue bonds not exceeding 1 billion yuan to repay debts and supplement working capital [9] Group 4 - Phoenix Optical plans to invest 8.5 million USD to establish a wholly-owned subsidiary in Vietnam for manufacturing optical products [11] - Xiamen Airport reported a passenger throughput of 2.4752 million in May, a year-on-year increase of 8.34% [12] - Weilan Biological has received a new veterinary drug registration certificate for a product aimed at treating canine allergies and inflammation [13] Group 5 - Shouxiangu has completed the registration of a health food product that claims to enhance immunity [13] - Xingye Yinxin's subsidiary has passed a resource reserve verification report, confirming significant mineral reserves [16] - Shaanxi Construction has won two major projects with a total contract value exceeding 2.8 billion yuan [18] Group 6 - Huari received a cash dividend of 50 million yuan from its subsidiary [20] - Zhongchu's deputy general manager has resigned due to governance arrangements [21] - Kexin Pharmaceutical's core product has received breakthrough therapy designation from the National Medical Products Administration [39]

证券代码：605167 证券简称：利柏特 公告编号：2025-018 江苏利柏特股份有限公司 关于向不特定对象发行可转换公司债券申请获得 中国证券监督管理委员会同意注册批复的公告 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。 江苏利柏特股份有限公司（以下简称"公司"）于近日收到中国证券监督管 理委员会（以下简称"中国证监会"）出具的《关于同意江苏利柏特股份有限公 司向不特定对象发行可转换公司债券注册的批复》（证监许可[2025]1173 号）， 批复文件主要内容如下： 三、本批复自同意注册之日起 12 个月内有效。 四、自同意注册之日起至本次发行结束前，公司如发生重大事项，应及时报 告上海证券交易所并按有关规定处理。 公司董事会将按照上述批复文件和相关法律法规的要求以及公司股东会的 授权，在规定期限内办理本次向不特定对象发行可转换公司债券的相关事项，并 及时履行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 江苏利柏特股份有限公司董事会 2025 年 6 月 12 日 一、同意公司向不特定对象发行可转换公司债券的注册 ...

Group 1 - The report highlights the optimistic growth in the global power equipment market, projected to exceed $700 billion by 2025, with significant investments in the power grid expected to surpass $450 billion [3][23] - The company is positioned as a leader in the high-end diesel generator market, benefiting from strategic partnerships and a robust supply chain, which enhances its pricing power [3][24] - Revenue forecasts for the company indicate substantial growth, with expected revenues of 2.76 billion, 3.76 billion, and 4.75 billion yuan for 2025, 2026, and 2027 respectively, reflecting year-on-year increases of 689%, 36%, and 26% [3][24] Group 2 - The offshore wind power sector is anticipated to experience a new wave of growth, with domestic installations expected to reach 12 GW in 2025, a 200% increase year-on-year [4][6] - The company is expanding its production capacity and focusing on the deep-sea wind market, with significant investments in export terminals to meet growing international demand [4][6] - Profit forecasts for the company suggest net profits of 8.6 billion, 11.0 billion, and 13.1 billion yuan for 2025, 2026, and 2027, with corresponding price-to-earnings ratios of 15.8, 12.3, and 10.3 [4][6] Group 3 - The nuclear power sector is witnessing accelerated investment, with completed investments reaching 36.26 billion yuan in the first four months of 2025, a 36.64% year-on-year increase [12][27] - The company is well-positioned to capitalize on the modular construction market for nuclear power, with a projected market size of approximately 864 billion yuan from 2025 to 2030 [12][28] - Expected net profits for the company are projected to be 2.3 billion, 2.5 billion, and 2.9 billion yuan for 2025, 2026, and 2027, with price-to-earnings ratios of 20, 19, and 16 [12][30] Group 4 - The magnesium alloy market is experiencing rapid growth, with the company focusing on expanding its production capacity to meet increasing demand in various sectors, including aerospace and automotive [7][31] - Revenue for the company is expected to reach 4.09 billion yuan in 2024, reflecting a 16.01% year-on-year increase, with continued growth anticipated in subsequent years [7][31] - The company is actively integrating into the lightweight strategy of leading automotive manufacturers, enhancing its market position [7][31]

证券代码：605167 证券简称：利柏特 公告编号：2025-017 江苏利柏特股份有限公司2024年年度权益分派实施公告 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： ● 每股分配比例 A股每股现金红利0.113元（含税） ● 相关日期 ■ ● 差异化分红送转： 是 一、通过分配方案的股东大会届次和日期 2.分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分公司（以下简 称"中国结算上海分公司"）登记在册的本公司全体股东。 根据《上海证券交易所上市公司自律监管指引第7号一一回购股份》的规定，公司回购专用证券账户中 的股份5,154,000股不参与利润分配。 3.差异化分红送转方案： （1）本次差异化分红方案 根据公司2024年年度股东大会审议通过的《关于2024年年度利润分配方案的议案》，公司以实施权益分 派股权登记日登记的总股本扣减公司回购专用证券账户中的股份为基数，每10股派发现金红利1.13元 （含税）。 实施权益分派股权登记日登记的总股本为449,070,000 ...

Industry Overview - The nuclear power sector in China is experiencing a significant upturn, with investment completion amounting to 36.256 billion, reflecting a year-on-year growth of 36.64% as of April 27, 2025 [1] - A total of 31 nuclear power units have been approved from 2023 to 2025, with 102 units in operation, under construction, or approved for construction, totaling an installed capacity of 113 million kilowatts [1] Modular Construction Technology - The majority of recently approved units utilize third-generation nuclear technology, specifically the "Guohe No. 1" (CAP1000) and "Hualong No. 1" (HPR1000) models [2] - Modular construction techniques can reduce the construction period of nuclear power plants from 50 months to 36 months, enhancing standardization and quality while minimizing accidents [2] - The modular construction market for new nuclear units is projected to reach approximately 86.4 billion from 2025 to 2030, with an annual opening scale of around 6 units before 2030 [2] Company Developments - The company is expanding its nuclear module production capacity through a new investment project, which will enhance its manufacturing and transportation capabilities [3] - The new production base covers an area of 487,800 square meters and is strategically located near a seaport, improving logistics efficiency [3] - The company recently secured a contract worth 226 million (including tax) for the construction and installation of modules for the Ningde Phase II project, marking the first application of modular technology in the "Hualong No. 1" nuclear power plant [3] Financial Projections - The company is expected to see a net profit attributable to shareholders of 230 million, 250 million, and 290 million for the years 2025 to 2027, with corresponding price-to-earnings ratios of 20, 19, and 16 [4] - The investment project is anticipated to further enhance the company's nuclear module production capabilities, despite some pressure on orders [4]

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Viewpoints - The nuclear power sector is experiencing accelerated growth, with significant investment completion in the first four months of 2025 reaching 36.64% year-on-year [1][14] - The modular construction market for nuclear power is expected to expand significantly, with an estimated market size of approximately 86.4 billion yuan annually from 2025 to 2030 due to the introduction of third-generation nuclear technology [2][36] - The company is enhancing its modular production capacity through new investment projects, securing a competitive advantage in nuclear module orders [3][39] Summary by Sections Nuclear Power Market Outlook - The nuclear power investment completion in China reached 36.256 billion yuan in the first four months of 2025, marking a 36.64% year-on-year increase [1] - As of April 27, 2025, there are 102 nuclear power units in operation, under construction, or approved for construction, with a total installed capacity of 113 million kilowatts [14] - The third-generation nuclear power units are expected to enter a peak construction phase, with a focus on modular design to significantly reduce construction time from 50 months to 36 months [2][24] Modular Construction Advantages - The modular construction approach allows for a more efficient building process, with the potential to reduce construction costs and improve safety and quality control [28][29] - The average construction cost for a typical dual-unit third-generation nuclear power project is around 40 billion yuan, with engineering costs accounting for approximately 60% of the total project cost [35] - The company has secured a contract for the construction of modules for the Ningde Phase II project, marking its first application of modular technology in a third-generation nuclear power plant [3][42] Company Growth and Financial Projections - The company is expanding its production capacity through a new investment project that will enhance its ability to manufacture and transport large modules [39][41] - Financial projections indicate a net profit attributable to the parent company of 229.17 million yuan in 2025, with a corresponding PE ratio of 20.44 [5][4] - The company has a strong background in modular construction, having served numerous international clients and accumulated extensive project experience [43]

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Viewpoints - The nuclear power sector is experiencing accelerated growth, with significant investment completion in the first four months of 2025 reaching 36.64% year-on-year growth, indicating a new cycle of prosperity in nuclear power construction [1][14] - The modular construction market for nuclear power is expected to expand significantly, with an estimated market size of approximately 86.4 billion yuan annually from 2025 to 2030 due to the anticipated annual commencement of around six new nuclear units [2][36] - The company is enhancing its modular production capacity through new investment projects, securing a competitive advantage in nuclear module orders [3][39] Summary by Sections Nuclear Power Market Outlook - The nuclear power investment completion in China reached 36.256 billion yuan in the first four months of 2025, with a cumulative increase of 36.64% year-on-year, and a total of 102 nuclear units in operation, under construction, or approved, with a total installed capacity of 113 million kilowatts [1][14] - The third-generation nuclear units, primarily using modular design, are expected to significantly reduce construction time from 50 months to 36 months, enhancing efficiency and safety [2][24][29] Modular Construction Capacity - The company is expanding its modular production capabilities through a new investment project, which will increase its manufacturing and transportation capacity for large modules, thereby improving production efficiency [3][39] - The company has secured a contract for the construction of modules for the Ningde Phase II project, marking its first application of modular technology in the "Hualong One" nuclear power plant [3][42] Financial Projections - The company's projected net profit for 2025-2027 is estimated at 229.17 million, 252.15 million, and 292.78 million yuan, respectively, with corresponding P/E ratios of 20.44, 18.58, and 16.00 [4][5]

上海市锦天城律师事务所 关于江苏利柏特股份有限公司 差异化权益分配事项之 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9、11、12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于江苏利柏特股份有限公司 差异化权益分配事项之 法律意见书 致：江苏利柏特股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受江苏利柏特股份有限公 司（以下简称"公司"）委托，就公司 2024 年度差异化权益分配（以下简称"本 次差异化权益分派"）的有关事宜，根据《中华人民共和国公司法》（以下简称 "《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、 《上海证券交易所上市公司自律监管指引第 7 号——回购股份》（以下简称"《回 购指引》"）、《上海证券交易所交易规则》（以下简称"《交易规则》"）以 及法律、法规和其他规范性文件以及《江苏利柏特股份有限公司章程》（以下简 称"《公司章程》"）的有关规定，出具本法律意见书。 声明事项 一、为出具本法律意见书，本所及本所律师依据《律师事务所 ...