证券代码：002366 证券简称：融发核电 公告编号：2025-046 融发核电设备股份有限公司 关于部分限售股份上市流通的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1、本次解除限售股份的数量为 32,100,347 股，占公司总股本的 1.54%。 2、本次解除限售股份的上市流通日期：2025 年 8 月 15 日。 一、本次解除限售股份取得的基本情况 根据中国证券监督管理委员会《关于核准四川丹甫制冷压缩机股份有限公司 重大资产重组及向烟台市台海集团有限公司等发行股份购买资产并募集配套资 金的批复》（证监许可〔2015〕1238 号），核准四川丹甫制冷压缩机股份有限 公司（与"台海玛努尔核电设备股份有限公司"同为融发核电设备股份有限公司 曾用名，以下简称"公司"）重大资产重组及发行股份购买资产并募集配套资金 的方案。公司发行股份购买资产新增股份 270,501,116 股，于 2015 年 7 月 24 日在深圳证券交易所上市，公司总股本增至 404,001,116 股。非公开发行股票募 集资金新增股份 29,527,559 股 ...

Group 1 - The concept of controllable nuclear fusion has led to a partial surge in related stocks [1] - Rongfa Nuclear Power increased by nearly 8% [1] - Xue Ren Group rose by over 3% [1] Group 2 - Other companies such as Ha Welding Huaton, Shun Sodium Co., and He Duan Intelligent also saw significant gains [1]

Core Viewpoint - The construction of the first commercial controlled nuclear fusion power plant in the U.S. by Helion Energy marks a significant step towards the commercialization of fusion energy, with plans to supply power to Microsoft by 2028 [3][5]. Group 1: Company Developments - Helion Energy has initiated site construction for its controlled nuclear fusion power plant named "Orion" in Chelan County, Washington, which is a crucial milestone for integrating fusion power into the grid [3]. - The company has signed a power purchase agreement with Microsoft to supply 50 MW annually starting in 2028 [5]. - Helion's technology utilizes a magnetic inertial confinement approach, specifically the Field-Reversed Configuration (FRC) method, which is simpler and more cost-effective compared to the Tokamak technology, with construction costs estimated to be only 1/5 to 1/10 of Tokamak systems [5]. Group 2: Industry Context - Other companies in China, such as Hanhai Fusion and Xingneng Xuanguang, are also pursuing similar FRC technology, indicating a growing interest in fusion energy [6]. - A recent industry seminar in Shanghai attracted over 20 companies and nearly 30 financial institutions to discuss the future of controlled nuclear fusion, highlighting its status as a hot topic in the capital market [7]. - Nearly 50 controlled nuclear fusion concept stocks have been actively researched by investors this year, with significant interest in companies like Ice Wheel Environment and Antai Technology, which have received multiple investor inquiries [7]. Group 3: Financial Performance - Several controlled nuclear fusion concept stocks have reported significant earnings growth for the first half of 2025, with Yongding Co. expecting a net profit increase of 731% to 922% year-on-year, primarily due to increased investment income [8]. - Baosheng Co. anticipates a net profit increase of 167.98% to 301.98% for the same period, driven by the market recognition of high-value products [8].

Group 1 - The core viewpoint of the news is that融发核电 (Rongfa Nuclear Power) has shown significant growth in its financial performance, with notable increases in revenue and net profit for the first quarter of 2025 [1][3] - As of July 31, 2025,融发核电's stock closed at 7.77 yuan, down 0.89%, with a turnover rate of 7.33% and a trading volume of 921,400 hands, amounting to a transaction value of 722 million yuan [1] - The company reported total operating revenue of 155 million yuan for Q1 2025, representing a year-on-year growth of 11.54%, while net profit attributable to shareholders reached 3.11 million yuan, up 307.80% [1] Group 2 - The company has a current ratio of 3.172, a quick ratio of 2.419, and a debt-to-asset ratio of 36.25%, indicating a strong liquidity position [1] -融发核电 has made investments in 6 external companies and participated in 2 bidding projects, showcasing its active engagement in the industry [2] - The company was established in 1997 and is primarily involved in the manufacturing of general equipment, with a registered capital of approximately 2.08 billion yuan [1][2]

天眼查商业履历信息显示，融发核电设备股份有限公司，成立于1997年，位于眉山市，是一家以从事通 用设备制造业为主的企业。企业注册资本208093.764万人民币，实缴资本9999.9695万人民币。公司法定 代表人为陈伟。 通过天眼查大数据分析，融发核电设备股份有限公司共对外投资了6家企业，参与招投标项目2次，专利 信息6条，此外企业还拥有行政许可2个。 来源：金融界 金融界消息 截至2025年7月30日收盘，融发核电（002366）报收于7.84元，下跌1.13%，换手率7.25%， 成交量91.07万手，成交金额7.17亿元。 资金流向方面，今日主力资金净流出1128.76万元，占比成交额1.57%。其中，超大单净流出348.38万 元、占成交额0.49%，大单净流出780.38万元、占成交额1.09%，中单净流出流出3565.09万元、占成交 额4.97%，小单净流入4693.85万元、占成交额6.55%。 融发核电最新一期业绩显示，截至2025一季报，公司营业总收入1.55亿元、同比增长11.54%，归属净利 润311.29万元，同比增长307.80%，扣非净利润105.26万元，同比增长2656.1 ...

Group 1 - The core point of the news is that Yantai Taihai Group Co., Ltd. has undergone a judicial transfer of 32,100,347 shares of Rongfa Nuclear Power Equipment Co., Ltd., reducing its ownership from 12.61% to 11.07% due to bankruptcy restructuring [1] - The judicial transfer was initiated by Lhasa Economic and Technological Development Zone Xianglong Investment Co., Ltd. as part of the bankruptcy proceedings against Yantai Taihai Group, which has been declared to lack the ability to repay debts [1] - The restructuring plan for Yantai Taihai Group has been executed, and the judicial transfer of shares has been completed with the relevant registration at the China Securities Depository and Clearing Corporation [1] Group 2 - The shareholding change is significant as it affects the company's equity structure and ongoing operations, with Yantai Taihai Group being a major shareholder [1] - The total number of shares held by Yantai Taihai Group before the transfer was 262,436,862, which has now decreased to 230,336,515 shares [1] - The percentage decrease in shareholding due to the judicial transfer is 1.54% [1]

2020 年 11 月 11 日，台海集团债权人祥隆企业集团有限公司以台海集团资不 抵债且明显缺乏清偿能力为由，向烟台市中级人民法院申请台海集团破产重整， 2020 年 11 月 30 日，烟台市中级人民法院裁定受理，由烟台市莱山区人民法院 （以下简称"莱山区法院"）管辖，并指定破产重整管理人，台海集团按照破产重 整程序开展工作。相关进展情况详情见公司于 2020 年 12 月 2 日、2021 年 3 月 13 日、2021 年 5 月 25 日、2021 年 9 月 11 日、2021 年 12 月 3 日、2022 年 5 月 7 日 披露的《关于控股股东收到民事裁定书的公告》《关于控股股东及其部分子公司被 法院裁定实质合并重整的公告》《关于控股股东合并重整案第一次债权人会议表决 结果公告》《关于控股股东收到民事裁定书的公告》《关于控股股东收到民事裁定 书的公告》《关于控股股东收到民事裁定书的公告》（公告编号：2020-081、 2021-023/045/061/082、2022-027）。 证券代码：002366 证券简称：融发核电 公告编号：2025-045 融发核电设备股份有限公司 关于持股5%以 ...

Investment Rating - The report maintains a positive outlook on the defense and military industry, suggesting an increase in focus on military investments [4][5]. Core Insights - The military trade supply and demand are strongly resonating, creating a new industry landscape, with expectations for continuous progress [5]. - The military industry is entering an upward cycle, driven by domestic demand from military construction, particularly in the transition to "mechanization + informationization" and the upcoming "intelligent + unmanned" equipment [5]. - The global geopolitical changes are expanding military trade demand, with China's military products gaining recognition, leading to a strong resonance between supply and demand in military trade [5]. - The growth cycle in the military sector is expected to enhance industry valuations, with a recognition of "technological equity" in military advancements [5]. - Recommendations include increasing attention to military investments, focusing on next-generation equipment and precision-guided weapons, which are expected to see initial growth by 2025 [5]. Market Review - Last week, the Shenwan Defense and Military Index rose by 2.26%, while the CSI Military Leaders Index increased by 3.68%, outperforming the Shanghai Composite Index, which rose by 0.69% [6][4]. - The top five performing stocks in the defense and military sector were Beihua Co. (23.37%), Yingliu Co. (20.37%), Feilihua (15.98%), AVIC Shenyang Aircraft (12.78%), and Aerospace Power (11.37%) [6][13]. - The bottom five performing stocks included Changchun Yidong (-9.36%), Rongfa Nuclear Power (-6.6%), Rainbow Co. (-6.14%), Guorui Technology (-5.02%), and Galaxy Electronics (-4.66%) [6][13]. Valuation Changes - The current PE-TTM for the Shenwan Military Sector is 83.84, placing it in the upper range historically, with a valuation percentile of 71.57% since January 2014 [14]. - Valuations are slightly differentiated among sub-sectors, with aerospace and aviation equipment at a relatively high valuation since 2020 [14][19]. Key Valuation Targets - The report lists key valuation targets in the military sector, including companies like AVIC Shenyang Aircraft, AVIC Chengfei, and others, with projected net profits and PE ratios for the coming years [21].

证券代码：002366 证券简称：融发核电 公告编号：2025-044 融发核电设备股份有限公司 关于二级全资子公司完成工商变更并取得营业执照的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 融发核电设备股份有限公司（以下简称"公司"）于近日收到一级全资子公司烟 台台海玛努尔核电设备有限公司（以下简称"烟台台海核电"）的通知，因业务发展 需要，其全资子公司烟台台海玛努尔智能装备有限公司对其名称、法定代表人、住 所、经营范围进行了变更，现已完成工商变更登记手续，并取得了由烟台市莱山区 市场监督管理局换发的《营业执照》。具体情况如下： | 变更事项 | 变更前 | 变更后 | | --- | --- | --- | | 名称 | 烟台台海玛努尔智能装备有限公司 | 烟台玛努尔核电检测技术有限公司 | | 法定代表人 | 于鹏 | 马立晓 | | 住所 | 山东省烟台市莱山区秀林路 2 号 | 山东省烟台市莱山区恒源路 6 号 | | | | 1 号楼 许可项目：检验检测服务；特种设备检 | | | 许可项目：餐饮服务（（不产生油烟、异味、 废气）；住宿服务； ...

Group 1: Current Orders and Production - The company currently has a sufficient order backlog, but both orders and operational status have decreased compared to the same period last year [2] - The company actively engages in market sales through bidding and business negotiations [2] Group 2: Revenue Recognition and Financials - Revenue is recognized when the company fulfills its contractual obligations, with specific methods depending on the product type [3] - The delivery cycle for nuclear power products varies, generally taking around 3 years, with a manufacturing cycle of over 2 years [3] - The gross margin of nuclear power products may fluctuate due to various factors, but prices remain relatively stable [4] Group 3: Future Development and Strategy - The company will continue to focus on nuclear power equipment manufacturing and diversify products in energy, petrochemicals, and machinery sectors [5] - The company is involved in the ITER project for nuclear fusion technology, which is a long-term endeavor [6] - Plans to increase R&D investment in non-nuclear products and new materials while expanding market share [7] Group 4: Competitive Landscape and Market Expansion - The competitive landscape is stable, with high entry barriers for new competitors due to licensing requirements [8] - The company aims to strengthen its brand recognition and expand into new regional markets while maintaining existing customer relationships [9]