Shanghai Electric(SH:601727) Zheng Quan Ri Bao Wang·2025-11-24 11:52Group 1 - The compact fusion energy experimental device (BEST) has officially launched its research plan, marking a new phase in burning plasma research, which is crucial for sustainable power generation [1] - The BEST device aims to conduct deuterium-tritium burning plasma experiments by the end of 2027, targeting fusion power output between 20 megawatts and 200 megawatts, demonstrating energy production exceeding consumption [1] - The supply chain for the BEST project includes at least 16 listed companies in the A-share market, focusing on key areas such as superconducting materials [1] Group 2 - West Superconducting Materials Technology Co., Ltd. has made breakthroughs in high-temperature superconducting materials and is involved in the construction of the BEST project, ensuring product demand is met [2] - Shanghai Electric Group Co., Ltd. participates in multiple major engineering projects related to controllable nuclear fusion, including the BEST device, and is responsible for the integration of the magnet system and vacuum chamber [2] - Xi'an Aike Cyber Electric Co., Ltd. is expanding its business to cover key projects like BEST and is actively pursuing various technological routes in commercial reactor fields [2] Group 3 - The influx of capital has accelerated the fusion industry, with the leading company in the BEST project, Fusion New Energy (Anhui) Co., Ltd., increasing its registered capital from 5 billion to 14.5 billion yuan through equity expansion [3] - The collaborative structure of local industrial capital and private innovative capital ensures long-term project stability and injects efficient vitality into market development [3] - Fusion New Energy aims to advance from the BEST experimental device to a fusion engineering demonstration reactor and ultimately to the first commercial fusion reactor, indicating a strategic three-step approach [3]