Group 1: Nuclear Power Overview - Nuclear power has become a significant energy choice globally, with its share in total global electricity generation projected to be 9% in 2024[1] - As of March 2025, there are 417 operational nuclear reactors worldwide, with a total installed capacity of 377 million kW[1] - China has 58 operational nuclear reactors and an installed capacity of 60.96 million kW, making it the world's largest nuclear power producer[1] Group 2: Nuclear Power Industry Chain - The nuclear power industry chain includes nuclear fuel supply, equipment manufacturing, construction, and operation[1] - The market share of nuclear power in China's electricity trading has increased from approximately 30% in 2020 to 46.1% in 2024[1] - The average on-grid electricity price for nuclear power in China is around 0.41 and 0.40 yuan per kWh for China National Nuclear Corporation and China General Nuclear Power Group, respectively[1] Group 3: Investment Recommendations - Recommended stocks related to nuclear power include Ruiqi Intelligent Manufacturing, Klate, Tianli Composite, and others, focusing on various aspects of the nuclear supply chain[3] - These companies are involved in high-end equipment manufacturing, cooling systems, composite materials, and safety monitoring solutions for nuclear power plants[3] Group 4: Risks and Challenges - Potential risks include industry policy adjustments, construction risks of nuclear projects, and nuclear safety concerns[3]