Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The controlled nuclear fusion sector is experiencing steady progress in research and construction, with continuous order releases, indicating a positive long-term development outlook [8][35] - The BEST device construction has fully commenced, and the core component bidding is expected to accelerate [6][22] - Recent breakthroughs in plasma discharge frequency and intensity by Zap Energy mark significant advancements towards commercialization [20][21] Summary by Sections Sector Review - In the week of October 9-10, 2025, most segments within the controlled nuclear fusion sector saw price increases, with notable gains in individual stocks such as Hahai Huadong (+29.6%), Hezhuan Intelligent (+21.0%), and Antai Technology (+21.0%) [5][15] - The magnetic materials segment rose by 10.9%, vacuum chamber and metal forgings by 10.8%, and upstream metal materials by 7.6% [17] Industry Dynamics - The BEST device's key component, the Dewar base, has been successfully installed, marking a new phase in the project [22] - Germany announced a €2 billion fusion action plan aimed at establishing a demonstration reactor by the 2040s [25] - Gauss Fusion released a concept design report for Europe's first commercial fusion power plant, with an estimated investment of €15-18 billion [31] Company Developments - Hangyang Group won a bid for a low-temperature liquid helium testing system project, which is crucial for the controlled nuclear fusion low-temperature system [34] Weekly Perspective - The ongoing development of nuclear fusion devices and the release of orders are viewed positively for the sector's long-term prospects, with a focus on core components such as magnets, main units, and power supplies [35]

Group 1 - The company is holding its third extraordinary general meeting of shareholders on October 15, 2025, with a focus on the restricted stock incentive plan [2][5][12] - The meeting will include additional proposals related to the 2025 restricted stock incentive plan, which were not part of the original agenda [2][3][12] - The company has confirmed that the original notification regarding the meeting remains unchanged except for the newly added proposals [3][7] Group 2 - The company conducted an internal announcement regarding the list of incentive plan participants from September 29 to October 9, 2025, with no objections received from employees [13][14] - The remuneration and assessment committee has verified that the proposed participants meet the qualifications set forth in relevant laws and regulations [14][15] - The proposed participants are all technical and business backbone personnel of the company, excluding independent directors and major shareholders [15][16]

西安爱科赛博电气股份有限公司 2025年第三次临时股东大会会议资料 证券代码：688719 证券简称：爱科赛博 西安爱科赛博电气股份有限公司 2025 年 10 月 2025 年第三次临时股东大会 会议资料（更正） 西安爱科赛博电气股份有限公司 2025年第三次临时股东大会会议资料 目 录 | 2025 | 年第三次临时股东大会会议须知 1 | | --- | --- | | 2025 | 年第三次临时股东大会会议议程 3 | | 2025 | 年第三次临时股东大会会议议案 5 | 西安爱科赛博电气股份有限公司 2025年第三次临时股东大会会议资料 西安爱科赛博电气股份有限公司 2025 年第三次临时股东大会会议须知 为维护广大投资者的合法权益，保障股东在本次股东大会期间依法行使权利， 根据《中华人民共和国公司法》、中国证券监督管理委员会《上市公司股东大会 规则》等法律法规和西安爱科赛博电气股份有限公司（以下简称"公司"）《股东 大会议事规则》等有关规定，特制定本会议须知： 一、公司负责本次股东大会的议程安排和会务工作，为确认出席大会的股东 或其代理人或其他出席者的出席资格，会议工作人员将对出席会议者的身份进 ...

西安爱科赛博电气股份有限公司 证券代码：688719 证券简称：爱科赛博 公告编号：2025-067 关于2025年第三次临时股东大会补充公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 一、 股东大会有关情况 1. 原股东大会的类型和届次： 2025年第三次临时股东大会 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 10 月 15 日 | 股份类别 | 股票代码 | 股票简称 | 股权登记日 | | --- | --- | --- | --- | | 股 A | 688719 | 爱科赛博 | 2025/10/9 | 二、 更正补充事项涉及的具体内容和原因 西安爱科赛博电气股份有限公司于 2025 年 9 月 30 日披露了《关于召开 2025 年第三次临时股东大会的通知》，在原议案基础上，现补充《关于公司 2025 年限 制性股票激励计划（草案）及其摘要的议案》《关于公司<2025 年限制性股票激 励计划实施考核管理办法>的议案》《关于提请股东大会授权董事会办理公司 2025 年 ...

证券代码：688719 证券简称：爱科赛博 公告编号：2025-068 西安爱科赛博电气股份有限公司 董事会薪酬与考核委员会关于公司2025年限制性 股票激励计划激励对象名单的 公示情况说明及核查意见 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、准确性和完整性依法承担法律责任。 西安爱科赛博电气股份有限公司（以下简称"公司"）于2025年9月28日召 开第五届董事会第十一次会议，审议通过了《关于公司2025年限制性股票激励计 划（草案）及其摘要的议案》《关于公司<2025年限制性股票激励计划实施考核 管理办法>的议案》《关于提请股东大会授权董事会办理公司2025年限制性股票 激励计划相关事宜的议案》等相关议案。根据《上市公司股权激励管理办法》（以 下简称"《管理办法》"）《上海证券交易所科创板股票上市规则》（以下简称 "《上市规则》"）等有关法律法规、规范性文件以及《西安爱科赛博电气股份 有限公司章程》（以下简称"《公司章程》"）的相关规定，公司对2025年限制 性股票激励计划（以下简称"本次激励计划"）激励对象的姓名和职务在公司内 部进行了公示。公司 ...

Market Overview - On October 9, the A-share market saw a strong rally, with the Shanghai Composite Index rising over 1% to break through 3900 points, marking a 10-year high [1][2] - The Shenzhen Component Index increased by 1.47% to 13725.56 points, while the ChiNext Index rose by 0.73% to 3261.82 points [2] - The total trading volume in the Shanghai and Shenzhen markets reached 26,723 billion yuan, an increase of 4,748 billion yuan compared to the previous trading day [2] Sector Performance - The non-ferrous metals sector experienced significant gains, with stocks like Tongling Nonferrous Metals, Northern Copper, and Yunnan Copper hitting the daily limit [6][8] - The controlled nuclear fusion concept saw a surge, with stocks such as Changfu Co., Yinjie Electric, and Western Superconducting also reaching the daily limit [11][13] - The rare earth sector rallied, with companies like China Rare Earth and Northern Rare Earth hitting the daily limit [9][10] Gold Market - On October 8, international spot gold prices exceeded $4000 per ounce, reaching a historical high [8] - Factors contributing to the rise in gold prices include concerns over U.S. government shutdowns, political uncertainties in Japan, and expectations of continued interest rate cuts by the Federal Reserve [8] Semiconductor Sector - The storage chip concept gained momentum, with stocks like Canxin Co. and Huahong Semiconductor seeing significant increases, with Canxin hitting the daily limit [14][16] - A report from CFM Flash Market indicated that prices for server eSSD and DDR5 RDIMM are expected to rise by over 10% in Q4 2025 due to increased demand from cloud service providers [16][17] Policy Impact - The Ministry of Commerce announced new export controls on certain rare earth-related items, further tightening the supply chain for these materials [9] - Analysts expect that the new regulations will lead to a long-term bullish outlook for the rare earth and magnetic materials sectors due to supply constraints [9]

Core Insights - The other power equipment sector experienced a significant increase of 4.3% on October 9, with Yingjie Electric leading the gains [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Sector Performance - Yingjie Electric (300820) saw a closing price of 62.26, with a remarkable increase of 20.01% and a trading volume of 162,100 shares, amounting to a transaction value of 932 million [1] - Aike Saibo (688719) closed at 44.80, up 14.05%, with a trading volume of 54,300 shares and a transaction value of 234 million [1] - Rongfa Nuclear Power (002366) closed at 8.31, up 10.07%, with a trading volume of 1,672,300 shares and a transaction value of 1.373 billion [1] - Other notable performers include Dongfang Electric (600875) with a 10.01% increase, closing at 21.22, and Shanghai Electric (601727) with a 9.96% increase, closing at 10.38 [1] Capital Flow - The other power equipment sector saw a net inflow of 2.194 billion in main funds, while retail funds experienced a net outflow of 990 million [3] - The overall capital flow indicates a mixed sentiment, with institutional investors showing interest while retail investors withdrew funds [3]

证券代码：688719 证券简称：爱科赛博 西安爱科赛博电气股份有限公司 西安爱科赛博电气股份有限公司 2025年第三次临时股东大会会议资料 2025 年第三次临时股东大会 会议资料 2025 年 10 月 西安爱科赛博电气股份有限公司 2025年第三次临时股东大会会议资料 目 录 | 2025 | 年第三次临时股东大会会议须知 1 | | --- | --- | | 2025 | 年第三次临时股东大会会议议程 3 | | 2025 | 年第三次临时股东大会会议议案 5 | 西安爱科赛博电气股份有限公司 2025年第三次临时股东大会会议资料 西安爱科赛博电气股份有限公司 二、出席会议的股东及股东代理人须在会议召开前半小时到会议现场办理签 到手续，并按规定出示股票账户卡、身份证明文件或营业执照/注册证书复印件 （加盖公章）、授权委托书等，上述登记材料均需提供复印件一份，个人登记材 料复印件须个人签字，法定代表人证明文件复印件须加盖公司公章，经验证后方 可出席会议。会议开始后，由会议主持人宣布现场出席会议的股东及股东代理人 人数及其所持有表决权的股份总数，在此之后进场的股东无权参与现场投票表决。 三、会议按照会议 ...

Core Viewpoint - The A-share controllable nuclear fusion sector experienced a surge in stock prices, driven by significant advancements in China's controllable nuclear fusion technology [1][3]. Group 1: Market Performance - Multiple stocks in the controllable nuclear fusion sector reached their daily limit up, including Guoguang Electric, Haheng Huaton, and Zhongzhou Special Materials, with increases of 20% and above [1][2]. - The overall market sentiment is positive, with several companies showing gains exceeding 10% [1][2]. Group 2: Technological Advancements - The recent surge is attributed to a key breakthrough in the construction of the compact fusion energy experimental device (BEST) in Hefei, Anhui, with the successful installation of the core component, the Dewar base [3]. - The completion of the Dewar base marks the beginning of the main assembly work for the BEST device, which is expected to be fully assembled by 2027 [3]. - BEST aims to demonstrate fusion energy generation for the first time globally, with the goal of lighting the first lamp by 2030 [3]. Group 3: Global Developments - The global nuclear fusion sector is witnessing rapid advancements, including a $1 billion power purchase agreement between CFS and Eni Group for a fusion power plant in Virginia, expected to be operational in the early 2030s [4][5]. - The international community is accelerating efforts towards the commercialization of fusion energy, with various countries investing significantly in fusion projects [5][6]. Group 4: Market Outlook - The global nuclear fusion market is projected to reach $496.55 billion by 2030, with a compound annual growth rate of 7.4% from 2024 to 2030 [7]. - Recent policy support in China, including the approval of the Atomic Energy Law, encourages research and development in controlled thermonuclear fusion, providing a favorable environment for industry growth [7][8]. - Analysts suggest that the second wave of market activity in the fusion sector is likely to commence, driven by intensified project financing and bidding processes [6][8].

Group 1 - The company, Xi'an Aike Saibo Electric Co., Ltd., has announced a change in accounting estimates regarding the depreciation period and rate for fixed assets, specifically for buildings and structures that will be put into use after September 1, 2025 [4][10][11] - The depreciation period for new buildings will be changed from "5-25 years" to "5-45 years," and the annual depreciation rate will be adjusted from "3.80%-19.00%" to "2.11%-19.00%" [4][7][10] - The change in accounting estimates will not have a significant impact on the company's financial status, operating results, or cash flow, and it does not harm the interests of the company or its shareholders [4][10][12] Group 2 - The board of directors and the supervisory board have approved the change in accounting estimates, with unanimous votes in favor, indicating a consensus on the necessity and appropriateness of the adjustments [11][12] - The company will implement the new accounting estimates starting from September 1, 2025, without requiring retrospective adjustments to previously disclosed financial statements [10][11] - The adjustments are made in accordance with relevant accounting standards and are intended to provide a more accurate reflection of the company's financial condition and operating results [6][9][11] Group 3 - The company has also announced the allocation of reserved shares under its first employee stock ownership plan, granting 564,100 shares to core employees, which represents 12.54% of the total plan [14][17] - The share purchase price for the reserved shares is set at 13.55 yuan per share, and the plan includes a 12-month lock-up period before shares can be unlocked in two phases [18][19] - The performance assessment for unlocking shares will be based on company revenue targets and individual performance evaluations for the years 2025-2026 [20][21]