核技术应用行业深度报告：顶层设计，时代“核”心

Investment Rating - The report rates the nuclear technology application industry as "Positive" [1] Core Insights - The nuclear technology application sector is entering a rapid development phase, driven by the first top-level design aimed at accelerating industry application [23][24] - The industry has significant growth potential, with China's non-power nuclear technology application output value reaching approximately 700 billion yuan in 2022, compared to 300 billion yuan in 2015, indicating a compound annual growth rate (CAGR) of over 15% [31][34] - The government has set a target for the nuclear technology application industry to achieve an annual direct economic output of 400 billion yuan by 2026 [2][23] Summary by Sections Non-Power Nuclear Technology Applications - Non-power nuclear technology applications are crucial in various fields, including industry, agriculture, healthcare, and public safety, contributing significantly to national defense and economic development [2][10] - In 2022, the output value of non-power nuclear technology applications in China accounted for approximately 0.57% of GDP, indicating substantial growth potential compared to developed countries where the ratio is 2-3% [2][31] Industry Development and Structure - The industry is characterized by continuous improvement across various segments, with upstream and midstream layouts being particularly timely [37] - The accelerator technology is identified as a core device in nuclear technology applications, converting electron potential energy into kinetic energy to provide high-energy particle beams or radiation [39][42] Key Application Areas - Industrial Sector: The demand for irradiated materials is rapidly increasing, particularly in sectors like microelectronics, home appliances, and automotive, with the irradiated cable market expected to exceed 10 billion yuan by the end of 2023 [3][88] - Healthcare: Nuclear medicine is becoming an essential part of medical diagnostics and treatment, with ongoing efforts to enhance domestic production of medical isotopes and equipment [4][88] - Agricultural and Environmental Protection: Nuclear technology is applied in areas such as pest control, food safety, and environmental management, contributing to food security and sustainable agricultural development [4][88] - Public Safety: Nuclear detection technologies are widely used in security checks at transportation hubs, utilizing X-ray and neutron detection technologies [4][88] Investment Recommendations - The report suggests focusing on companies such as China General Nuclear Power Technology (accelerators and nuclear technology applications), China Isotope & Radiation Corporation (nuclear medicine and irradiation applications), and others involved in various segments of the nuclear technology application industry [5]