Core Insights - China Fusion Energy Company was established on July 22 with a registered capital of 15 billion yuan, aiming for commercial fusion energy by 2050 [1] - The company has set up its headquarters and R&D base in Shanghai, focusing on fusion engineering, including overall design, high-temperature superconducting magnet technology, and digital fusion reactor development [1] - A new fusion experimental device named "China Circulation No. 4 (HL-4)" will be built in Shanghai to validate the high-temperature superconducting magnets developed there [1] Industry Developments - Three new teams were introduced at the Pujiang Innovation Forum on September 21, including plans for a megawatt-class laser fusion power station by the Li Zhengdao Research Institute, a "deuterium-helium-3" fusion power station by Dongsheng Fusion, and the first high-temperature superconducting stellarator by Honghu Fusion [2] - The nuclear fusion industry is experiencing accelerated development with increased capital expenditure (CAPX) and a growing number of projects from state-owned and private enterprises, as well as academic teams [3] - The industry is entering a rapid incubation phase, with various controllable nuclear fusion technology routes showing significant changes, indicating a move towards commercialization [3] Investment Opportunities - Shanghai Electric is the only company in China covering all four generations of nuclear power technology, with significant orders and successful delivery of key components for major fusion projects [4] - Tiangong International is positioned in the core materials sector, focusing on RAFM steel and high-boron steel, which are critical for fusion reactor development, indicating a broad market potential for fusion materials [5]
港股概念追涨|环流四号亮相 可控核聚变国家队再添新军（附概念股）