证券日报网讯 2月27日，海联讯在互动平台回答投资者提问时表示，杭汽轮的第一台自主燃机为试验样 机，目前正在公司燃机试验中心进行试验，其核心部件已基本实现国产化，由公司及公司核心供应链生 产制造。公司第二台自研燃机用于连云港自主燃机试验和应用示范基地。 （文章来源：证券日报） ...

【中信证券新材料/机械/电新】核电行业重点推荐——高端制造估值重估，短期业绩高增远期空间广阔 ‼核心观点：①核电为低位、低估值、高科技属性大容量板块，同时国内外利好催化密集；②大部分标的长期估值 受限，但短期板块将业绩高增，同时四代堆/小堆/核应用/出口/乏燃料将贡献增量；③聚变资本开支基准有望迎事 件切换，大幅拔高远期估值。 ‼高利润率高成长，估值长期受限。 25年我国核 【中信证券新材料/机械/电新】核电行业重点推荐——高端制造估值重估，短期业绩高增远期空间广阔 ‼核心观点：①核电为低位、低估值、高科技属性大容量板块，同时国内外利好催化密集；②大部分标的长期估值 受限，但短期板块将业绩高增，同时四代堆/小堆/核应用/出口/乏燃料将贡献增量；③聚变资本开支基准有望迎事 件切换，大幅拔高远期估值。 ‼高利润率高成长，估值长期受限。 25年我国核电发电占比约4.82%，世界平均水平10%，发达国家普遍在20%以上，AI需求引发行业复兴，空间广 阔。 行业壁垒导致核岛核心设备毛利率在30%以上。 在历史业绩稳健增长、毛利率较高的背景下，零部件企业估值提升长期受限，我们认为核心原因是市场对核电"远 期成长"信心不足 ...

Group 1 - The core viewpoint of Huajin Securities is that they have initiated coverage on China Nuclear Technology (000777) with a "Buy" rating, highlighting the company's strategic positioning in controlled nuclear fusion and hydrogen energy sectors [1] - The report emphasizes that the company is actively developing core components for controlled nuclear fusion and is deeply integrated into the domestic fusion industry ecosystem, focusing on critical areas such as ultra-high thermal load components [1] - Huajin Securities forecasts the company's net profit attributable to shareholders for 2025, 2026, and 2027 to be 1.143 billion yuan, 1.200 billion yuan, and 1.315 billion yuan respectively [1] Group 2 - Recent developments indicate that on February 11, 2026, China Nuclear Technology responded to investor inquiries, stating that it is actively expanding into the hydrogen energy industry, focusing on key areas such as hydrogen production, storage, and transportation [1] - The company has achieved some results in its hydrogen technology efforts and is actively promoting the mass industrialization of these technological achievements, showcasing its strategic expansion in the renewable energy sector [1] Group 3 - In the past week (as of February 13, 2026), China Nuclear Technology's stock price has shown volatility, with a fluctuation range of -0.84% and an amplitude of 3.58% [2] - Specifically, on February 9, the stock price increased by 1.57% (closing at 25.27 yuan), while on February 13, it decreased by 1.83% (closing at 24.67 yuan) [2] - Over the last five days, there has been a net outflow of 46.635 million yuan in main funds, with a single-day net outflow of 12.7919 million yuan on February 13, indicating short-term pressure on the capital [2]

Group 1 - The core discussion focused on 5G private networks, industrial internet, and artificial intelligence applications during the meeting between Suzhou Unicom and China Nuclear Technology [3][4][7] - Both parties explored the construction goals of an excellent smart factory, including 5G private network development, industrial internet platform applications, typical scenarios of artificial intelligence, and computing power deployment [4][7] - Suzhou Unicom aims to leverage its technological and service advantages in the fields of 5G, industrial internet, and artificial intelligence to assist in the digital and intelligent upgrade of the company [4][7] Group 2 - The meeting established a solid foundation for deepening cooperation, with both parties agreeing to create a regular communication mechanism [4][7] - Future collaboration will focus on smart manufacturing and new information infrastructure, promoting high-quality development together [4][7]

会上，审计与法务部对2025年度制度编修计划完成情况进行了通报，并对制度数智化管理系统上线使用期间普遍存在的问题做出提醒。制度编修部门对共 计16项制度进行了宣贯，对修订变更的条款逐一进行解读，对目前已出现或未来可能出现的问题做出预警，并通过案例宣讲加深大家的认识。 为加强公司规章制度管理，规范公司制度执行和落实情况，2026年1月29日，中核科技审计与法务部组织召开2026年度第一次制度宣贯会，公司各部门、 事业部相关人员参会。 本次制度宣贯会着重聚焦违规追责体系制度，对《财会资金领域违规行为惩处办法》《质量奖惩管理办法》《科研工作违规惩处办法》进行了详细讲解， 重点剖析了违规行为的认定标准及惩处措施，强调"有权必有责、有责要担当、失责必追责"，实施严肃精准的追责问责机制，最终实现依法合规经营、高 质量发展。 制度宣贯现场气氛活跃，参会人员踊跃提问，相互交流探讨。通过此次宣贯，加深了职工对制度规定的认知和理解，为制度有效执行打下了坚实的基础， 为推进公司制度规范化管理提供了有效保障。 供稿 第十一党支部 韩适屹 编辑 李继宇 校核 陈君怡 审校 季 靓 校核 陈君怡 审校 季 靓 为加强公司规章制度管理，规 ...

Core Viewpoint - The stock of China Nuclear Technology has experienced a decline in recent trading sessions, with a notable drop in both share price and trading volume, indicating potential investor concerns about the company's performance and market position [1]. Financial Performance - As of September 30, 2025, China Nuclear Technology reported a revenue of 1.083 billion yuan, reflecting a year-on-year growth of 5.60%. However, the net profit attributable to shareholders decreased by 3.58% to 112 million yuan [2]. - Cumulatively, the company has distributed 623 million yuan in dividends since its A-share listing, with 201 million yuan distributed over the past three years [3]. Shareholder Information - The number of shareholders for China Nuclear Technology stood at 72,000 as of September 30, 2025, which is a decrease of 6.99% from the previous period. The average number of circulating shares per shareholder increased by 7.52% to 5,321 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is a new entrant, holding 1.3405 million shares, while Jin Ying Technology Innovation Stock A and Jin Ying Dividend Value Mixed A have exited the list [3]. Market Activity - On January 28, the stock price of China Nuclear Technology fell by 2.01%, trading at 25.34 yuan per share with a total market capitalization of 9.716 billion yuan. The stock has seen a year-to-date decline of 1.97% and a 3.54% drop over the last five trading days [1].

Core Viewpoint - The Chinese state-owned stocks experienced significant gains on January 22, with multiple companies reaching their daily limit up, indicating strong market performance in this sector [1]. Group 1: Stock Performance - China First Heavy Industries (中国一重) saw an increase of 10.10%, with a total market value of 373.7 billion and a current price of 5.45 [2]. - China Iron & Steel (中国铁物) rose by 10.07%, with a total amount of 4.65 billion and a market value of 178.5 billion, currently priced at 2.95 [2]. - CITIC Heavy Industries (中信重工) increased by 10.04%, with a total amount of 5.77 billion and a market value of 366.4 billion, currently priced at 8.00 [2]. - China Nuclear Engineering (中国核建) rose by 9.38%, with a total amount of 11.55 billion and a market value of 541.9 billion, currently priced at 17.98 [2]. - China Software (中国软件) increased by 8.25%, with a total amount of 19.95 billion and a market value of 486.817 billion, currently priced at 52.13 [2]. - China Great Wall (中国长城) saw a rise of 5.89%, with a total amount of 71.82 billion and a market value of 608.7 billion, currently priced at 18.87 [2]. - Other notable increases include China Rare Earth (中稀有色) at 45.44%, China Textile Standard (中纺标) at 44.84%, and China Tungsten High-Tech (中钨高新) at 4.63% [2].

Core Viewpoint - The article highlights a significant rise in the stock prices of state-owned enterprises in China, indicating a bullish trend in the market for these companies [1]. Group 1: Stock Performance - China First Heavy Industries (中国一重) saw a price increase of 10.10%, with a total market value of 373.7 billion and a current price of 5.45 [2]. - China Railway Materials (中国铁物) experienced a rise of 10.07%, with a total market value of 178.5 billion and a current price of 2.95 [2]. - CITIC Heavy Industries (中信重工) increased by 10.04%, with a total market value of 366.4 billion and a current price of 8.00 [2]. - China Nuclear Engineering (中国核建) rose by 9.38%, with a total market value of 541.9 billion and a current price of 17.98 [2]. - China Software (中国软件) increased by 8.25%, with a total market value of 486.8 billion and a current price of 52.13 [2]. - China Great Wall Technology (中国长城) saw a rise of 5.89%, with a total market value of 608.7 billion and a current price of 18.87 [2]. - Other companies such as China Rare Earth (中稀有色) and China Tungsten High-Tech (中钨高新) also experienced notable increases in their stock prices [1][2].

Core Viewpoint - The "Hualong One" nuclear power technology, developed independently by China, is recognized as a national symbol and has the highest number of units under construction and operation globally, with a strong supporting industrial chain of nearly 6,000 enterprises [2][24]. Group 1: Hualong One Overview - "Hualong One" is a third-generation nuclear power technology that is currently undergoing commercial testing in multiple locations across China, with 41 units either under construction or in operation [2]. - The first unit of "Hualong One" was established at the Fujian Fuqing Nuclear Power Plant, which has delivered over 40 billion kilowatt-hours of clean electricity since its commercial operation [4]. Group 2: Industrial Chain and Collaboration - The "Hualong One" industrial chain includes approximately 6,000 enterprises that collaborate to support the construction and operation of the technology [8][24]. - The successful domestic production of critical components, such as valves, has been achieved, which were previously reliant on imports [10][14]. Group 3: Innovation and Development - Companies like Suzhou Valve Technology have made significant advancements in producing critical valves for nuclear power, overcoming challenges through collaboration with universities and research institutions [12][14]. - Suzhou BaoHua Sealing Technology has achieved 100% domestic production of nuclear reactor sealing rings, significantly increasing its sales and expanding into new sectors such as petrochemicals and aerospace [23]. Group 4: Future Upgrades and Goals - The upcoming "Hualong One 2.0" version will demand higher integration, reliability, and extended lifespan of equipment, with ongoing innovations and testing to meet these requirements [26][28]. - The goal is to create a collaborative ecosystem that integrates supply chains, innovation chains, and data chains to enhance the overall efficiency and effectiveness of the nuclear power industry [28].

Core Viewpoint - "Hualong One" is China's self-developed third-generation nuclear power technology, recognized as a "national business card," and has the largest number of units under construction and operation globally [2][4]. Group 1: Current Status and Achievements - As of now, there are 41 units of "Hualong One" either under construction or in operation, making it the most prevalent nuclear power model worldwide [4]. - The first unit of "Hualong One," located at the Fujian Fuqing Nuclear Power Plant, has delivered over 40 billion kilowatt-hours of clean electricity since its commercial operation [7]. - The "Hualong One" industry chain consists of nearly 6,000 enterprises, which collectively support the construction and operation of the nuclear power units [9][28]. Group 2: Technological Advancements - The "Hualong One" model meets the highest safety standards and latest technological requirements, leading to stringent demands on equipment manufacturers [9]. - A significant achievement includes the complete localization of critical valves, which were previously reliant on imports, showcasing a breakthrough in domestic manufacturing capabilities [9][18]. Group 3: Innovation and Collaboration - Companies like Suzhou Valve Technology Co., Ltd. have successfully developed key valves for nuclear power plants through collaborative efforts with universities and research institutions, overcoming significant technical challenges [18][20]. - Suzhou Bao Hua Sealing Technology Co., Ltd. has achieved 100% localization of nuclear reactor sealing rings, with sales quadrupling over three years, and is now expanding into multiple emerging sectors [28]. Group 4: Future Developments - The upcoming "Hualong One 2.0" version will demand higher integration, reliability, and extended service life for equipment, indicating a continuous evolution in nuclear technology [31]. - The industry aims to create a collaborative ecosystem through measures like supply chain integration and data sharing, enhancing innovation and operational efficiency [34].