Group 1: Industry Overview - China has released the "General User Requirements Document for Small Modular Reactors," establishing its technical authority in small reactor development and international cooperation, which will aid in promoting small reactors globally and contribute to achieving "zero carbon" goals [1] - Nuclear power is recognized for its cleanliness, stability, and high utilization hours, making it strategically significant for China's energy security [1] - The Chinese government has emphasized the need for nuclear power development, with projections indicating that by 2035, nuclear energy will account for 10% of total electricity generation, doubling from 2022 levels [1] Group 2: Key Companies in Nuclear Power - Dongfang Electric (01072) has established a diversified energy equipment manufacturing structure and completed a capital increase of 4.123 billion yuan, reinforcing its leading position in the energy equipment sector. The company has received approval for the only nuclear steam supply system manufacturing license in China and expects new orders to exceed 100 billion yuan in 2024, with a 36% year-on-year growth in Q1 2025 [2] - Harbin Electric (01133) has successfully delivered all four nuclear main pumps for the "Linglong One" project, which are critical components of the reactor cooling system. These pumps are designed for high safety and longevity, playing a vital role in driving the cooling agent circulation [2] - Shanghai Electric (02727) focuses on high-end energy technology research and development, reporting a revenue of 22.1 billion yuan in Q1 2025, an 8.1% increase year-on-year. The company achieved a net profit of 292 million yuan, a significant increase of 813.2%, and turned around from a loss in the previous year [3]
港股概念追踪|《小型模块堆通用用户要求文件》发布 核电技术有望加速突破（附概念股）