机械设备：中国与哈萨克斯坦将拓展核能领域合作，宁德核电5号机组常规岛开工

Investment Rating - The industry investment rating is "Outperform the Market" [3] Core Insights - The report highlights the expansion of nuclear energy cooperation between China and Kazakhstan, emphasizing the strategic importance of this collaboration in oil, gas, renewable energy, and nuclear sectors [2] - The commencement of construction for the Ningde Nuclear Power Unit 5 is noted, marking a significant milestone in the nuclear energy sector [2] - Nuclear power is recognized for its clean, safe, and efficient characteristics, making it a crucial player in the transition to green energy and addressing global climate change [2] Summary by Sections Nuclear Energy Cooperation - China and Kazakhstan are set to enhance their cooperation in the nuclear energy sector, with recent meetings leading to new agreements [2] - The focus will be on stabilizing oil and gas supply while deepening practical cooperation in renewable energy and nuclear power [2] Ningde Nuclear Power Unit 5 - The construction of Ningde Nuclear Power Unit 5 has officially begun, with the first concrete pour marking the start of a new engineering phase [2] - The project aims for high-quality execution through meticulous planning and collaboration with upstream partners [2] Investment Opportunities - Recommended companies include: 1. Jiadian Co., which leads in helium fan products for fourth-generation reactors [2] 2. Guoguang Electric, providing key components for the ITER project [2] 3. Lanshi Heavy Industry, covering the entire nuclear fuel system and related equipment [2] 4. Kexin Electromechanical, producing high-temperature gas-cooled reactor products [2] 5. Hailu Heavy Industry, servicing various reactor types including third and fourth generation [2] 6. Jiangsu Shentong, securing over 90% of orders for nuclear-grade valves in new projects [2] 7. Xianheng International, involved in the operation and maintenance of nuclear energy [2]