OpenAI 首席执行官 Sam Altman 曾表示"裂变是满足人工智能日 益增长的能源需求的关键解决方案"。科技巨头正联合小型模块化反 应堆（SMR）及核聚变公司，为数据中心量身定制供能方案，裂变商 业化或比聚变更早落地。国内相关公司景业智能表示，公司 SMR 相关 关键技术研发工作正按计划有序推进，目前技术路线已基本明确，核 心研发团队也已初步组建完成。 行 机械设备 2026 年 01 月 31 日 业 研 究 机械设备 科技+新能源巨头入核热潮起，核电迎来多元新格局 投资要点： 巨头跨界入局，科技新能源协同赋能 行 业 定 期 报 告 随着民资入核政策持续放宽，阿里、吉利等科技巨头及宁德时代、 特斯拉等新能源龙头纷纷跨界参与中国沿海核电项目。科技企业多以 入股方式布局浙江象山、温州三澳等沿海核电基地，核心锁定稳定能 源以支撑算力需求；新能源企业则聚焦配套环节，提供储能解决方案、 核心装备制造等服务，上海电气等企业助力核电设备国产化率达 93.4%，形成"央企主导、民资赋能、科技加持"的产业生态。 政策保驾护航，行业发展前景广阔 从 2020 年吉利参股三澳核电成为首个民资入核案例，到 2024 年 ...

根据国家统计局数据显示：2025年12月中国工业锅炉产量为1.8万蒸发量吨，同比下降12.8%；2025年1- 12月中国工业锅炉累计产量为18.8万蒸发量吨，累计下降8.9%。 2020-2025年中国工业锅炉产量统计图 数据来源：国家统计局，智研咨询整理 上市企业：华光环能（600475）,川润股份（002272）,海陆重工（002255）,华西能源（002630）,东方电 气（600875） 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 相关报告：智研咨询发布的《2026-2032年中国工业锅炉行业市场专项调研及发展策略分析报告》 ...

行业主要上市公司：西子洁能(002534)、华光环能(600475)、川润股份(002272)、海陆重工(002255)、华 西能源(002630)、东方锅炉(600786)等 锅炉制造行业上市公司汇总 目前，我国以锅炉制造相关行业为主营业务的上市企业较少，但锅炉制造产业链上下游均较为庞大。其 中中游锅炉制造环节主要有西子洁能、华光环能、川润股份、海陆重工、华西能源、东方锅炉等上市企 业。 图表 1: 2025年中国锅炉制造行业上市公司汇总(一) | 产业链环节 | 公司简称 | 股票代码 | 腰点 | 关联度 | | --- | --- | --- | --- | --- | | 钢材(2 | 宝钢股份4 鞍钢股份已 | 60001942 0008984 | 全球领先的现代化钢铁联合企业。 中国现代化特大型钢铁联合企业4 | 文文文文( **** | | | 华菱钢铁( | 0009324 | 我国十大钢铁企业之一e | 文文文文( A | | | 河钢股份中 | 0007094 | 世界最大的钢铁材料制造和综合服务商之一e ★★★2 | | | | | | | . | | | 直钢股份4 | 000959 ...

作为能源革命的终极方向之一，可控核聚变凭借燃料充足、清洁环保、能量密度高且安全性佳的核心优 势，始终是全球能源领域的研发焦点。 近日，由中国科学院电工研究所和物理研究所联合攻关研制而成的全超导用户磁体，成功实现了中心磁 场达到35.6特斯拉的最高磁场强度，这是目前全球该领域的最高纪录，标志我国在高温超导应用方面已 具有国际先进水平，将为物质科学、生命科学、核聚变研究等提供技术支撑。 技术利好不断，推动可控核聚变产业热度持续攀升，发展节奏显著加快。 从技术路线看，目前核聚变的主流技术路线是围绕磁约束和惯性约束展开的，磁约束是当前核聚变研发 中最成熟、最接近商业化的技术路线，其核心装置为托卡马克以及仿星器。 此前，国内聚变能源领域企业——能量奇点能源科技（上海）有限公司通过官微宣布，洪荒70高温超导 托卡马克取得新突破，在第5609次实验中成功实现了335秒稳态长脉冲等离子体运行，长脉冲运行能力 再上新台阶。 在此背景下，行业内上市公司依托自身优势加码布局这一领域，积极抢占产业发展先机。 中国能源建设股份有限公司表示，该公司连续四年通过"揭榜挂帅"形式开展可控核聚变技术研究，包括 热核聚变发电常规岛概念设计研究、 ...

Group 1 - Suzhou Hailu Heavy Industry Co., Ltd. won a procurement project from China Chemical Engineering International Co., Ltd. with a bid amount of 23.18 million yuan [1][2] - In 2024, Hailu Heavy Industry reported an operating revenue of 2.789 billion yuan, with a revenue growth rate of -0.23% and a net profit attributable to the parent company of 377 million yuan, reflecting a net profit growth rate of 10.86% [3] - For the first half of 2025, the company recorded an operating revenue of 1.032 billion yuan, with a revenue growth rate of -10.44% and a net profit attributable to the parent company of 191 million yuan, showing a significant net profit growth rate of 50.03% [3] Group 2 - The company operates in the industrial sector, with major product types including semiconductor solar photovoltaic, generators and auxiliary equipment, boilers and auxiliary equipment, nuclear power, and pressure vessels [3] - The main composition of the company's 2024 report includes: waste heat boilers and related supporting products (52.92%), pressure vessels (28.2%), engineering services (6.84%), new energy power sales (3.63%), nuclear power products (3.24%), wastewater treatment (2.25%), and other categories [3]

Group 1 - Su Dawei Ge's wholly-owned subsidiary plans to invest in a fund focusing on semiconductor, new energy, AI, and aerospace sectors, contributing 20 million yuan for a 10.2302% stake [2] - Shimao Energy terminates plans for a change in control after failing to reach consensus on key terms, with stock resuming trading on January 19 [3] - Huatian Hotel's controlling shareholder is planning a merger and restructuring, potentially changing the actual controller to the Hunan Provincial State-owned Cultural Assets Supervision and Administration Commission [4] Group 2 - Jinpu Titanium's subsidiary Xuzhou Titanium will cease production due to intensified market competition, which is expected to significantly impact revenue in 2026 [5] - Dingxin Communications' deputy general manager is under investigation by the CSRC for suspected short-term trading of company stock, but it will not affect the company's operations [6] - Xinhang New Materials plans to acquire 51% of Hairete for 12.8826 million yuan to explore new growth points [7] Group 3 - Hualan Co.'s controlling shareholder raises the upper limit of its share buyback plan from 58.08 yuan to 86.66 yuan per share [8] - Wanhua Chemical's MDI Phase II facility has resumed normal production after maintenance [9] - Junsheng Electronics introduces a strategic investor, with a 1 billion yuan investment aimed at reducing overall debt [10] Group 4 - Jiangbolong announces five shareholders plan to transfer 3% of the company's shares through a pricing inquiry [11] - Haitai Technology expects a net profit increase of 226.86% to 323.97% in 2025, driven by high industry demand and increased orders [13] - Northern Rare Earth anticipates a net profit increase of 116.67% to 134.6% in 2025 due to successful market expansion [14] Group 5 - Lanke Technology forecasts a net profit increase of 52.29% to 66.46% in 2025, benefiting from the AI industry trend [15] - Keda expects a net profit increase of 52.21% to 67.43% in 2025, driven by growth in data center and new energy sectors [16] - Cambridge Technology predicts a net profit increase of 51% to 67% in 2025, supported by strong demand in core business areas [17] Group 6 - China Electric Research anticipates a net profit of 533 million yuan in 2025, a 14.04% increase year-on-year [18] - China Automotive Research expects a net profit of 1.06 billion yuan in 2025, a 17.85% increase year-on-year [19] - Zhongcheng Co. forecasts a net profit of 276 million to 414 million yuan in 2025, recovering from a previous loss [20] Group 7 - Junda Co. expects a net loss of 1.2 billion to 1.5 billion yuan in 2025, worsening from a previous loss of 591 million yuan [21] - Guangdian Network anticipates a net loss of 1.29 billion to 1.55 billion yuan in 2025, attributed to declining traditional business revenue [22] - Jiugang Hongxing predicts a net loss of approximately 1.879 billion yuan in 2025, an improvement from a previous loss of 2.617 billion yuan [23] Group 8 - Jinbo Co. expects a net loss of around 1.4 billion yuan in 2025, worsening from a previous loss of 815 million yuan [24] - Dongjiang Environmental anticipates a net loss of 1.05 billion to 1.35 billion yuan in 2025, due to ongoing industry adjustments [25] - Daqing Energy forecasts a net loss of 1 billion to 1.3 billion yuan in 2025, despite improvements in production costs [26] Group 9 - Dongzhu Ecology expects a net loss of 935 million to 1.135 billion yuan in 2025, impacted by macroeconomic factors [27] - Weiyuan Co. anticipates a net loss of 950 million to 1.05 billion yuan in 2025, turning from profit to loss [28] - Huanghe Xuanfeng predicts a net loss of 850 million yuan in 2025, an improvement from a previous loss of 983 million yuan [29] Group 10 - Fushun Special Steel expects a net loss of 770 million to 870 million yuan in 2025, turning from profit to loss [30] - China First Heavy Industries anticipates a net loss of 310 million to 460 million yuan in 2025, significantly reducing losses compared to the previous year [31] - Jishi Media forecasts a net loss of 364 million to 455 million yuan in 2025, with overall revenue expected to remain stable [33] Group 11 - Guangxi Energy expects a net loss of 170 million to 220 million yuan in 2025, turning from profit to loss [34] - Baike Bio anticipates a net loss of 220 million to 280 million yuan in 2025, turning from profit to loss due to declining vaccine sales [35] - Zhongtai Auto expects to remain in a loss position for 2025, with a projected positive net asset value by year-end [36] Group 12 - Nasda anticipates a loss for 2025 due to significant asset sales and industry policy adjustments [37] - Rongsheng Development expects to report a loss for 2025, with the amount not exceeding the previous year's audited net assets [38] Group 13 - China National Materials signs a contract worth 299 million Canadian dollars for engineering services in Canada [40] - Dayu Water-saving's subsidiary wins a project worth 133 million yuan for water source guarantee engineering [41] - Hailu Heavy Industry reports new orders totaling 1.941 billion yuan for 2025 [42]

Core Insights - The company, Hailu Engineering (002255.SZ), reported a new order amount of 1,940.784 million yuan for the year 2025, indicating a strong demand for its services [1] - As of December 31, 2025, the total backlog of orders reached 3,597.4763 million yuan, reflecting the company's robust order pipeline [1] Financial Summary - New signed orders for 2025 amounted to 1,940.784 million yuan, which is inclusive of tax and excludes amounts for contracts that have been bid but not yet signed [1] - Cumulative orders on hand as of the end of 2025 totaled 3,597.4763 million yuan, also inclusive of tax [1]

Core Viewpoint - The company, Hailu Heavy Industry (002255.SZ), reported a new order amount of 1,940.784 million yuan for the year 2025, with a total backlog of 3,597.4763 million yuan as of December 31, 2025, all figures are tax-inclusive and do not include amounts for contracts that have been bid but not yet signed [1] Summary by Category - **New Orders**: The company secured new orders amounting to 1,940.784 million yuan for the year 2025 [1] - **Backlog**: As of December 31, 2025, the total backlog of orders stands at 3,597.4763 million yuan [1] - **Contract Status**: The reported figures are tax-inclusive and exclude amounts for contracts that have been bid but are not yet signed [1]

一、2025 年度新签订单及在手订单情况 2025 年度，公司新签订单金额为 194,078.40 万元，截至 2025 年 12 月 31 日 累计在手订单为 359,747.63 万元。以上数据均为含税价且不含已中标但尚未签订 合同的金额。 证券代码：002255 证券简称：海陆重工 公告编号：2026-001 苏州海陆重工股份有限公司 关于 2025 年度订单情况的自愿性信息披露公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 苏州海陆重工股份有限公司（以下简称"公司"）立足"科技领航、业界先 锋"的企业理念，紧扣战略规划和年度任务，持续深耕现有市场、拓展新市场， 取得了积极成效。现将公司 2025 年度的新签订单及在手订单情况公告如下： 苏州海陆重工股份有限公司董事会 2026 年 1 月 17 日 1 单位：万元（含税） | 按行业分类 | 2025 | 年度新签订单 | 截至 | 2025 | 年 | 12 月 31 | 日在手订单 | | --- | --- | --- | --- | --- | --- | --- | --- | | 工业 ...

Group 1 - The company announced that the new signed order amount for the year 2025 is 1.941 billion yuan [1] - As of December 31, 2025, the total cumulative orders on hand amount to 3.597 billion yuan [1]