行业洞察丨卡位技术高地，可控核聚变关键企业上海超导迎来新发展

Core Viewpoint - Shanghai Superconductor Technology Co., Ltd. is advancing its IPO process on the Sci-Tech Innovation Board, aiming to raise approximately 1.2 billion RMB to expand its production capacity of second-generation high-temperature superconducting tapes, positioning itself as a key player in the controllable nuclear fusion industry [1][2]. Group 1: Company Overview - Shanghai Superconductor is a leading company in the second-generation high-temperature superconducting tape sector, being one of only two companies globally capable of producing over 1,000 kilometers of these tapes annually [1][5]. - The company has successfully broken the long-standing technological monopoly held by foreign firms in this field, enhancing China's capabilities in superconducting materials [1][4]. Group 2: Financial Performance - The company has demonstrated strong growth in revenue and net profit, with an increasing gross margin, indicating robust profitability and cost control efficiency [3]. - The IPO application was officially accepted on June 18, 2025, and the company has submitted detailed responses to the first round of inquiries from the Shanghai Stock Exchange [2]. Group 3: Market Position and Strategy - Shanghai Superconductor is strategically positioned in the nuclear fusion industry, with its products being critical for the development of next-generation Tokamak devices [4]. - The company aims to address the growing demand for high-performance superconducting materials in major national scientific projects, power grid upgrades, and high-end medical equipment [2][4]. Group 4: Technological Advancements - The company has developed a complete set of production processes for second-generation high-temperature superconducting tapes, achieving full autonomy in technology and manufacturing [4][5]. - Shanghai Superconductor's products have been successfully applied in several national-level major scientific projects, with performance metrics meeting or exceeding international competitors [5][11]. Group 5: Future Outlook - The company plans to diversify its application scenarios to reduce reliance on a concentrated customer base, targeting sectors such as urban power grid upgrades and high-end medical equipment [6][10]. - The IPO fundraising is viewed as a proactive measure to prepare for broader market orders in industrial, energy, and medical fields, indicating a strategic focus on expanding market reach [11][12].