智通财经网·2025-11-07 07:48Core Insights - China has included nuclear fusion in its "14th Five-Year Plan" and future industrial priorities, while countries like the US, Japan, and the UK are accelerating implementation through legislation and funding support [1] - The global nuclear fusion industry is experiencing a significant increase in financing, with a projected total of $9.766 billion by mid-2025, marking the highest annual growth in three years [2] - The industry is transitioning from laboratory research to engineering implementation, with key components' domestic production driving the pace of development [3] Industry Trends - The global landscape for nuclear fusion is diversifying, with 50% of tokamak devices and various other approaches like stellarators and lasers being explored [2] - The core value of nuclear fusion devices is concentrated in four systems: magnets, blankets, vacuum chambers, and divertors, with the highest cost shares being 28%, 17%, 14%, and 8% respectively [3] Investment Recommendations - Key companies in the nuclear fusion supply chain include China National Nuclear Corporation (000777.SZ), Lansi Heavy Industry (603169.SH), Jingye Intelligent (688290.SH), and Western Superconducting (688122.SH), with a recommendation to also monitor Kexin Electromechanical (300092.SZ) [4]