机械设备行业定期报告：中国在运和在建核电机组总装机容量世界第一，印度计划到2032年建造40-50座SMR

Investment Rating - The industry is rated as "Outperform the Market" [4] Core Insights - China has the largest installed capacity of nuclear power units in operation and under construction globally, totaling 113.13 million kilowatts with 102 units [2] - India plans to build 40-50 small modular reactors (SMRs) by 2032 to replace coal-fired power plants and achieve net-zero emissions by 2070 [2] - Nuclear power is recognized for its clean, safe, and efficient characteristics, making it a crucial force in promoting energy transition and ensuring energy security [2] Summary by Sections Nuclear Power Capacity - China has 102 nuclear power units approved for operation and construction, with an installed capacity of 113.13 million kilowatts, leading all countries [2] - Currently, there are 56 operational units with a capacity of 58.08 million kilowatts and 46 approved units under construction with a capacity of 55.05 million kilowatts [2] India's Nuclear Plans - India aims to deploy 40-50 SMRs primarily to replace self-owned coal-fired power plants [2] - The design of the 220MWe pressurized heavy water reactor (PHWR) is being revamped for standardization and ease of deployment [2] Advantages of Nuclear Energy - Nuclear power units maintain an annual utilization rate of over 7000 hours, the highest among all energy sources [2] - It does not emit sulfur dioxide, nitrogen oxides, smoke, or carbon dioxide during production, making it one of the cleanest and most efficient energy forms [2] - The future applications of nuclear energy may expand into seawater desalination, hydrogen production, and medical protection [2] Recommended Companies - Jiadeng Co., Ltd.: Leading in helium fan products for fourth-generation high-temperature gas-cooled reactors [2] - Guoguang Electric: Key components for the ITER project [2] - Lanshi Heavy Industry: Covers upstream nuclear fuel systems to downstream spent fuel processing [2] - Kexin Electromechanical: Producing high-temperature gas-cooled reactor products [2] - Hailu Heavy Industry: Services for various reactor types including third and fourth generation [2] - Jiangsu Shentong: Over 90% orders for nuclear-grade butterfly and ball valves in new nuclear projects [2] - Xianheng International: Products used in nuclear energy operation and maintenance [2]