中国环流三号突破“双亿度”，中国聚变挺进燃烧实验

Investment Rating - The industry rating is "Outperform the Market," indicating that the overall return of the industry is expected to exceed the market benchmark index by more than 5% in the next 6 months [16]. Core Insights - The China National Nuclear Corporation's Southwest Institute of Physics has achieved significant milestones with the "China Fusion Reactor No. 3," reaching atomic temperatures of 117 million degrees Celsius and electron temperatures of 160 million degrees Celsius, marking a substantial advancement in fusion research [3]. - The report highlights the importance of nuclear power as a clean, safe, and efficient energy source, emphasizing its role in promoting green energy transition and addressing global climate change [6]. - Original core technologies developed in China are setting international standards in the field of nuclear fusion, with the ISO international standard for innovative technologies being established [5]. Company Summaries - Jia Dian Co., Ltd.: The company's main helium fan is the only power device for the fourth-generation high-temperature gas-cooled reactor, and its subsidiary, Harbin Electric Machinery Co., is a leader in nuclear pump products [7]. - Guoguang Electric: The company provides key components for the ITER project, focusing on filter and cladding systems [7]. - Lanshi Heavy Industry: The company covers the entire nuclear energy supply chain, including upstream nuclear fuel systems, midstream nuclear power plant equipment, and downstream spent fuel processing [7]. - Kexin Electromechanical: The company has developed high-temperature gas-cooled reactor products and has replaced imports with new fuel transport containers [7]. - Hailu Heavy Industry: The company services various reactor types, including third and fourth-generation reactors and thermal nuclear fusion reactors (ITER) [7]. - Jiangsu Shentong: The company has secured over 90% of orders for nuclear-grade butterfly valves and nuclear-grade ball valves for new nuclear power projects in China [7]. - Xianheng International: The company's products are utilized in the operation and maintenance of nuclear energy and nuclear power sectors [7].