可控核聚变行业深度 聚变时代加速到来，Z 箍缩路线走进主流视野 2025 年 09 月 10 日 ➢ 可控核聚变时代加速到来，2030 年为商业化时期。可控核聚变因为原料丰 富、清节高效、安全性高等优势，被公认为人类的终极能源。但鉴于其技术要求 苛刻，给人遥不可及的感觉，业内曾戏称，核聚变距离商业实现永远有 50 年， 也就是"50 年悖论"。但 2025 年 7 月聚变工业协会（FIA）发布《2025 年全球聚 变行业》报告显示，过去 5 年全球聚变行业呈爆发式增长，总投资额从 2021 年 的 19 亿美元飙升至 97 亿美元，仅去年一年就新增 26 亿美元。这一增长态势， 充分彰显了投资者信心的成熟、聚变技术的突破以及供应链的快速整合。同时， 2030 年代被行业普遍视为聚变商业化关键期。 ➢ 惯性约束技术进展飞快，尤其是 Z 箍缩技术凭借安全性、经济性、持久性和 环境友好性等方面的优势表现亮眼。我国聚变技术过往以磁约束托卡马克为主， 惯性约束较少进入公众视野。但根据《2025 年全球聚变行业》数据显示，惯性 约束成为仅次于磁约束的技术路线，其中 Z 箍缩技术凭借安全性、经济性、持久 性和环境友好性等方 ...

9月8日，王子新材涨5.07%，截至发稿，报16.58元/股，成交4.94亿元，换手率10.87%，总市值63.34亿 元。 资料显示，深圳王子新材料股份有限公司位于广东省深圳市龙华区龙华街道奋进路4号王子工业园，成 立日期1997年5月28日，上市日期2014年12月3日，公司主营业务涉及从事塑料包装材料及产品的研发、 设计、生产和销售。主营业务收入构成为：塑料包装产品63.77%，电子元器件25.19%，其他6.58%，军 工电子产品4.46%。 华夏高端制造混合A（002345）成立日期2016年5月11日，最新规模8.99亿。今年以来收益17.37%，同 类排名4260/8248；近一年收益42.6%，同类排名3246/8051；成立以来收益42.6%。 从王子新材十大流通股东角度 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 数据显示，华夏基金旗下1只基金位居王子新材十大流通股东。华夏高端制造混合A（002345）二季度 新进十大流通股东，持有股数161.97 ...

点击注册小程序 查看完整报告 特别申明： 报告摘要 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 定增项目建设稳步推进 23年12月，公司定增股份发行上市，定增募集资金总额9.29亿元，募集资金计划投向宁波新容薄膜电容器 扩建升级项目6.91亿元，截至25H1该项目投资进度为55.41%。子公司宁波新容引进了德国和日本先进超 薄蒸镀设备，实现了自主镀膜和生产流程自主可控，电容产品广泛应用于新能源汽车、军工、可控核聚 变、光伏、风电、电网、轨道交通、医疗、家电等领域。 电容产品供货聚变新能的可控核聚变项目，受益于可控核聚变产业进展提速 据公司25年5月投资者关系活动记录表，公司通过子公司宁波新容就安徽合肥项目（即聚变新能（安徽） 有限公司采购首套磁体电源项目）签订了采购合同，宁波新容就实施安徽合肥项目提供储能电容和支撑电 容 ...

Group 1 - The company reported a total operating revenue of 999 million yuan, ranking 16th among disclosed peers, with an increase of 156 million yuan compared to the same period last year, representing a year-on-year growth of 18.45% [1] - The net profit attributable to shareholders was 15.70 million yuan, an increase of 3.95 million yuan from the same period last year, achieving a year-on-year growth of 33.59% [1] - The company experienced a net cash outflow from operating activities of -71.13 million yuan [1] Group 2 - The latest debt-to-asset ratio is 40.70%, a decrease of 1.59 percentage points from the previous quarter [3] - The latest gross profit margin is 15.02%, and the return on equity (ROE) is 0.91%, which is an increase of 0.26 percentage points compared to the same period last year [4] - The diluted earnings per share are 0.04 yuan, an increase of 0.01 yuan from the same period last year, representing a year-on-year growth of 33.33% [4] Group 3 - The total asset turnover ratio is 0.31 times, ranking 19th among disclosed peers, with an increase of 0.04 times year-on-year, representing a growth of 14.06% [4] - The inventory turnover ratio is 2.22 times [4] - The number of shareholders is 68,100, with the top ten shareholders holding 147 million shares, accounting for 38.61% of the total share capital [4]

Company Announcements - SMIC plans to issue A-shares to acquire minority stakes in its subsidiary, SMIC North, leading to a temporary suspension of its stock trading for up to 10 trading days [1] - Huasheng Tiancheng's director and supervisor plan to reduce their holdings by up to 0.9984% of the total shares [2] - BYD reported a net profit of 15.51 billion yuan for the first half of the year, a year-on-year increase of 13.79% [2] - Changfei Fiber's net profit for the first half of the year was 296 million yuan, down 21.71% year-on-year [2] - Jia Yuan Technology plans to invest 500 million yuan to acquire part of the equity in Endatong, focusing on the optical module industry [1][17] - Guizhou Moutai completed the repurchase of 3.9276 million shares [1][19] Financial Performance - CEC reported a net profit of 24.641 billion yuan for the first half of the year, a decrease of 12% year-on-year [5] - Longjiang Power achieved a net profit of 13.056 billion yuan, up 14.86% year-on-year [8] - China Rare Earth reported a net profit of 162 million yuan, turning from a loss of 244 million yuan in the previous year [9] - Huayi Brothers' net profit increased by 48.34% to 2.028 billion yuan [6] - Wealth Trend's net profit grew by 6.61% year-on-year [24] Mergers and Acquisitions - Tailin Micro plans to acquire 100% of Panqi Micro's equity through a combination of cash and stock issuance [4] - Aishen Medical announced the acquisition of partial equity in three medical institutions for a total of 105 million yuan [18] Stock Movements - Guizhou Moutai's controlling shareholder plans to increase its stake by 3 to 3.3 billion yuan [15] - Ganfeng Lithium plans to invest 4 billion yuan to build a new lithium-ion battery manufacturing base [16] Market Developments - China National Offshore Oil Corporation won a bid for a project in Qatar worth approximately 4 billion USD [14] - Aishen Medical's acquisition of equity in medical institutions aims to enhance its service coverage and operational efficiency [18]

智通财经APP讯，王子新材(002735.SZ)发布2025年半年度报告，该公司营业收入为9.99亿元，同比增长 18.45%。归属于上市公司股东的净利润为1570.04万元，同比增长33.59%。归属于上市公司股东的扣除 非经常性损益的净利润为1309.26万元，同比减少3.57%。基本每股收益为0.04元。 ...

每经AI快讯，王子新材（SZ 002735，收盘价：17.28元）8月29日晚间发布公告称，公司第六届第二次 董事会会议于2025年8月28日在深圳市龙华区龙华街道奋进路4号王子工业园深圳王子新材料股份有限公 司一楼大会议室以现场及通讯表决方式召开。会议审议了《关于续聘公司2025年度审计机构的议案》等 文件。 截至发稿，王子新材市值为66亿元。 每经头条（nbdtoutiao）——申请超2万份，已开出41家，加盟海底捞，你要准备多少钱？1000万元不算 多，真实"账单"公布 （记者 王晓波） ...

股票代码：002735 股票简称：王子新材 公告编号：2025-059 深圳王子新材料股份有限公司 第六届董事会第二次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 深圳王子新材料股份有限公司（以下简称"公司"）董事会 2025 年 8 月 18 日以书面、电子邮件和电话方式发出召开公司第六届董事会第二次会议通知。会 议于 2025 年 8 月 28 日上午 9:30 时在深圳市龙华区龙华街道奋进路 4 号王子工 业园深圳王子新材料股份有限公司一楼大会议室以现场及通讯表决方式召开，应 参加表决 7 人，实际参加表决 7 人，分别为王进军、王武军、程刚、任兰洞、孔 祥云、曹跃云、孙蓟沙。董事王进军、王武军、孔祥云现场出席本次会议，其他 董事以通讯方式参加会议。会议由公司董事长兼总裁王进军先生主持，公司高级 管理人员列席了会议。 本次会议的通知及召开均符合《公司法》等有关法律法规、规范性文件以及 《公司章程》等公司制度的规定。会议经审议做出了如下决议： 一、审议通过关于公司《2025 年半年度报告》及摘要的议案 具 体 内 容 详 见 公 司 于 2 ...

Core Insights - The company reported a revenue of 999 million yuan for the first half of the year, representing a year-on-year growth of 18.45% [1] - The net profit attributable to shareholders reached 15.70 million yuan, marking a year-on-year increase of 33.59% [1] - The basic earnings per share stood at 0.04 yuan per share [1]

Core Viewpoint - Wangzi New Materials (002735.SZ) reported a strong performance in the first half of 2025, with significant growth in revenue and net profit, indicating a positive trend in the company's financial health [1] Financial Performance - The company achieved operating revenue of 999 million yuan, representing an 18.45% year-on-year increase [1] - The net profit attributable to shareholders was 15.70 million yuan, showing a year-on-year growth of 33.59% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 13.09 million yuan, reflecting a year-on-year decrease of 3.57% [1] - Basic earnings per share stood at 0.04 yuan [1]