南财智讯1月29日电，国光电气发布业绩预亏公告，预计2025年全年归属于上市公司股东的净利润 为-10,500万元—-8,500万元，同比预减280.66%—323.16%。本报告期公司销售收入出现下滑，主要受外 部客观因素影响。一方面，核工业设备业务受ITER项目及国内重大科研装置建设进度延后制约，相关 采购订单未能按期下达；另一方面，微波器件业务中，部分总体单位项目推进节点未达预期，致使订单 延迟下发。由于上述客观原因导致客户订单量缩减，并叠加部分产品价格下调的影响，最终导致本期营 收规模减少。受销售回款不及预期的影响，导致本期计提信用减值损失增加，影响本期业绩。 ...

1月24日，包括潘爷爷在内的15位抗美援朝老英雄，走进成都国光电气聚变技术成果转化展示厅，与国 家顶尖院士、青少年、退役军人、志愿者代表齐聚一堂，共赴一场"传承之约"。当迎宾曲奏响，15位老 兵在志愿者搀扶下踏上红毯，两侧是青少年们行少先队礼，还有退役军人向前辈的致敬，现场掌声雷 动，昔日战场的热血与今日和平的安宁完成了跨越时空的相拥。 在礼堂内的慰问仪式上，四川星兵连国旗护卫队退役士兵的礼宾枪展示，动作整齐划一、姿态挺拔昂 扬，每一次举枪，都是对革命先辈的崇高致敬。"看到老英雄们，就像看到了当年他们浴血奋战的场 景，我们要永葆军人本色，若有战，召必回!"仪仗兵秦瑞来的话语，道出了退役军人们的心声。而在分 享环节，一个个质朴而震撼的故事，让现场众人热泪盈眶。一级伤残军人涂伯毅爷爷，讲述了自己作为 首批志愿军战士入朝，为救战友被凝固汽油弹烧伤致残的经历;上甘岭战役特等功臣唐章洪则回忆起两 小时发射200余发炮弹歼敌420余人的战斗经历，"当年打仗就是想让后辈过上安稳日子";96岁的空军机 务师李文城讲述着战场抢修战机的艰险，"看到如今国家军工科技的飞速发展，热泪盈眶。" 红毯尽头，成都国光电气聚变技术成果转化展 ...

证券日报网讯1月21日，国光电气在互动平台回答投资者提问时表示，公司霍尔电推进器核心部件产品 已实现批量供应，近年来保持快速增长，在同类产品中展现出较强的市场竞争力，整体优势显著。 ...

证券日报网讯1月21日，国光电气在互动平台回答投资者提问时表示，近年来，公司基于在真空与核工 业器件领域的经验，以为"ITER"装置供应偏滤器、第一壁等部件为基础，积极跟进国内核聚变项目， 加强与国内院所及企业的合作，已成功为"EAST""HL系列"等装置配套关键部件，并正跟 进"BEST""HL-3"及"Z箍缩混合堆"等国内重大聚变项目。同时，公司持续投入研发，科技成果屡获认 可。与核工业西南物理研究院合作的"聚变堆大型复杂部件高温下超高灵敏度检漏技术研究及应用"获 2023年度四川省科学技术进步奖一等奖，相关成果已转化为国际与国家标准；参与完成的"新一代中国 环流器工程研制"获2024年度四川省科学技术奖一等奖。这些奖项有助于公司提升行业知名度与竞争 力，推动业务拓展。 ...

国光电气回复称，公司霍尔电推进器核心部件产品已实现批量供应，近年来保持快速增长，在同类产品 中展现出较强的市场竞争力，整体优势显著。目前，公司与国内多家知名科研院所及相关企业建立了稳 定的配套合作关系，并深度参与了星网GW星座、千帆星座等国家级低轨卫星网络建设。未来，公司将 紧跟商业航天发展趋势，以霍尔电推进器核心部件为着力点，加大研发投入，优化产品设计，提高产品 的可靠性和使用寿命，降低成本。同时，公司将积极巩固并深化与国内各电推进总体单位的合作，在保 障现有业务稳步增长的基础上，拓展更多市场机会与合作客户，持续巩固在商业航天电推部件领域的市 场地位。 格隆汇1月21日｜有投资者在互动平台向国光电气提问：卫星的在轨推进主流技术是霍尔电推，公司的 霍尔电推产品在该领域处于什么地位，和国内的哪些卫星企业建立了合作关系？未来在这个产品方向有 什么规划？ ...

格隆汇1月21日丨国光电气(688776.SH)在投资者互动平台表示，近年来，公司基于在真空与核工业器件 领域的经验，以为"ITER"装置供应偏滤器、第一壁等部件为基础，积极跟进国内核聚变项目，加强与 国内院所及企业的合作，已成功为"EAST"、"HL系列"等装置配套关键部件，并正跟进"BEST"、"HL- 3"及"Z箍缩混合堆"等国内重大聚变项目。 同时，公司持续投入研发，科技成果屡获认可。与核工业西 南物理研究院合作的"聚变堆大型复杂部件高温下超高灵敏度检漏技术研究及应用"获2023年度四川省科 学技术进步奖一等奖，相关成果已转化为国际与国家标准；参与完成的"新一代中国环流器工程研制"获 2024年度四川省科学技术奖一等奖。这些奖项有助于公司提升行业知名度与竞争力，推动业务拓展。 ...

格隆汇1月21日丨国光电气(688776.SH)在投资者互动平台表示，公司霍尔电推进器核心部件产品已实现 批量供应，近年来保持快速增长，在同类产品中展现出较强的市场竞争力，整体优势显著。目前，公司 与国内多家知名科研院所及相关企业建立了稳定的配套合作关系，并深度参与了星网GW星座、千帆星 座等国家级低轨卫星网络建设。 未来，公司将紧跟商业航天发展趋势，以霍尔电推进器核心部件为着 力点，加大研发投入，优化产品设计，提高产品的可靠性和使用寿命，降低成本。同时，公司将积极巩 固并深化与国内各电推进总体单位的合作，在保障现有业务稳步增长的基础上，拓展更多市场机会与合 作客户，持续巩固在商业航天电推部件领域的市场地位。 ...

证券日报网讯1月20日，国光电气在互动平台回答投资者提问时表示，为确保所有投资者平等获取信 息，公司会在定期报告中披露报告期末的股东人数情况，截至2025年9月30日，公司股东人数为8431 户。 ...

Group 1 - The core viewpoint of the news highlights significant advancements in the controlled nuclear fusion industry, which has become a national strategic focus in China, with substantial growth potential anticipated in the coming years [4][5] - The "14th Five-Year Plan" suggests a forward-looking layout for future industries, promoting hydrogen and nuclear fusion energy as new economic growth points [4] - The first fundamental law in China's nuclear energy sector, the "Atomic Energy Law," was enacted on January 15, 2023, encouraging scientific research and technological development in controlled thermonuclear fusion [4] Group 2 - Energy Singularity announced a breakthrough in high-temperature superconducting Tokamak technology, achieving a stable long pulse plasma operation of 335 seconds in its 5609th experiment [3] - The company has been focusing on the development of compact high-temperature superconducting Tokamak devices and their operational control software since its establishment in 2021 [3] - The nuclear fusion energy engineering in China has entered a substantial and systematic phase of industrial collaborative efforts, with multiple joint laboratories being established to focus on key technologies [3] Group 3 - According to CITIC Securities, the nuclear fusion industry has vast growth potential, driven by significant events and orderly domestic capital expenditures, with expectations for overseas progress to exceed forecasts [5] - The market size for nuclear fusion is projected to reach $496.55 billion by 2030, with the potential to create a trillion-dollar industrial cluster by 2050 [5] - As of January 16, 2026, there are 12 nuclear fusion concept stocks with net inflows exceeding 100 million yuan, with Western Superconducting, Western Materials, and Dongfang Electric leading the rankings [5] Group 4 - 20 nuclear fusion concept stocks are expected to see profit growth in 2025, with notable predictions for Yongding Co. and Guoguang Electric, expecting profit increases of 451.75% and 142.74% respectively [7] - Shanghai Electric is forecasted to have a profit increase of over 80%, while several other companies are expected to see growth rates exceeding 40% [7] - The controlled nuclear fusion sector is experiencing a surge in investment opportunities, particularly in the mid-to-upstream segments, driven by technological breakthroughs and policy support [5][6]

Investment Rating - The report maintains a "Recommended" rating for the controllable nuclear fusion industry, indicating an expectation of significant growth in the sector over the next 3-6 months [3][49]. Core Insights - The 2026 Nuclear Fusion Energy Technology and Industry Conference held in Hefei is expected to accelerate the industrialization of nuclear fusion, with major procurement projects and collaborative laboratory projects being signed [1][8]. - Star Ring Fusion has completed a 1 billion yuan Series A financing round, which will expedite the commercialization of nuclear fusion technology, with plans to complete engineering validation by 2028 and establish a demonstration reactor by around 2032 [9][1]. - The report anticipates that the domestic nuclear fusion projects will see a total investment of approximately 146.5 billion yuan, with capital expenditures expected to enter an expansion phase from 2025 to 2028, leading to increased orders in the industry chain [8][1]. Summary by Sections Industry Overview - The report highlights the significant participation of over 1,500 attendees from various sectors, including government, academia, and finance, at the 2026 Nuclear Fusion Energy Technology and Industry Conference [8]. - The conference aims to foster collaboration across innovation, industry, finance, and talent chains to build a synergistic nuclear fusion energy ecosystem [8]. Financing and Investment - Star Ring Fusion's 1 billion yuan financing round was led by Shanghai Guotou and other investment groups, focusing on developing a unique high-temperature superconducting spherical tokamak technology [9][1]. - The report notes that the nuclear fusion industry is entering a capital expenditure upcycle, with significant investments expected to drive order volumes in the supply chain [1][8]. Market Performance - The report provides a performance review of the nuclear fusion sector, noting that several companies have seen substantial stock price increases, with top performers including New Wind Power (+42%) and China Nuclear Construction (+27%) [22][26]. - The report also tracks bidding activities, indicating a total bidding amount of 1.28 billion yuan in early January 2026, with several high-value projects being awarded [12][15]. Recommended Companies - The report continues to recommend companies such as Hezhong Intelligent and Lianchuang Optoelectronics, while suggesting attention to Guoguang Electric [3][23]. - It emphasizes the importance of the magnet segment, recommending companies like Western Superconducting and Yongding Co., which have significant value contributions in the nuclear fusion supply chain [33][3].