Core Insights - The A-share market is experiencing significant investment interest in the controllable nuclear fusion sector, with the nuclear fusion index rising by 12.91% so far in January 2026, and monthly trading volume approaching 780 billion yuan [1] - Several companies, including Zhongji HuanKe and Antai Technology, are actively involved in the nuclear fusion business, while others are clarifying their limited involvement to manage market expectations [1] Industry Developments - The nuclear fusion industry in China has entered a rapid development phase, with significant progress reported in the compact fusion energy experimental device (BEST) located in Hefei, expected to be completed by 2027 [2] - The fundamental principle of controllable nuclear fusion mimics the sun's energy production, requiring extreme conditions to sustain the fusion reaction safely [2] - The implementation of controllable nuclear fusion typically involves magnetic confinement methods, with abundant and easily obtainable raw materials like deuterium from seawater [2] Market Participation - A-share market participants are focusing on the upstream, midstream, and downstream sectors of the Tokamak equipment supply chain, including superconducting materials and power plant operations [3] - The implementation of the "Atomic Energy Law" in China on January 15, 2026, supports the development of controlled thermonuclear fusion, laying a foundation for the emerging industry [3] Investment Trends - Over the past five years, approximately 6.5 billion USD has been invested in the commercialization of fusion energy, with around 70% of companies expecting to achieve their first commercial demonstration by 2035 [4] - Star Ring Fusion recently completed a record 1 billion yuan Series A financing, with plans to start commercial demonstration pile construction by around 2032 [5] - Companies like Zhongji HuanKe are exploring partnerships in the nuclear fusion sector, investing 30 million yuan in Star Ring Fusion while leveraging their expertise in high-tech fields [5] Corporate Activities - Antai Technology has engaged in significant projects related to nuclear fusion, including a partnership with the Hefei Comprehensive National Science Center for advanced filter development [6] - Tian Gong International has made breakthroughs in new materials for nuclear fusion devices, while Western Superconducting is involved in producing superconducting materials for international fusion projects [6]

沪深两市全天主力资金净流出216.12亿元，其中，科创板主力资金净流出51.38亿元，主力资金净流入的 有233只股，主力资金净流出的有367只股。 | 代码 | 简称 | 主力资金净流入（万 | 主力资金流入率 | 涨跌幅 | 换手率 | | --- | --- | --- | --- | --- | --- | | | | 元） | （%） | （%） | （%） | | 688387 | 信科移动-U | 33794.55 | 9.62 | 5.24 | 9.74 | | 688122 | 西部超导 | 31017.60 | 10.13 | 4.83 | 5.16 | | 688270 | 臻镭科技 | 27079.30 | 6.96 | 3.68 | 10.23 | | 688777 | 中控技术 | 21643.99 | 9.80 | 0.33 | 4.04 | | 688195 | 腾景科技 | 20677.61 | 6.58 | 20.00 | 12.09 | | 688521 | 芯原股份 | 17250.72 | 4.31 | 4.95 | 3.86 | | 688568 | 中科星图 | ...

相关ETF中，卫星ETF（563230）低开高走，截至9点58分涨近3%。成分股来看，航天电子、电科 芯片、海兰信、西部超导等领涨；国科微等少数个股飘绿。 周四早盘，三大指数高开震荡，军工板块领涨，商业航天概念亦回暖。 资料显示，卫星ETF（563230）跟踪的中证卫星产业指数，选取不超过50只业务涉及卫星制造与发 射、卫星地面设备制造、卫星导航、卫星通信以及其它技术研发与应用环节的上市公司证券，以反映卫 星产业上市公司证券的整体表现。 每日经济新闻 （责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 消息面上，近日，星河动力、星际荣耀、天兵科技3家商业航天企业更新了上市辅导进展，叠加蓝 箭航天IPO申请获受理、中科宇航完成辅导备案，5家主营运载火箭的核心企业已悉数入局，向"商业航 天第一股"发起冲刺。 另据报道，在山东烟台海阳的东方航天港，工人在加班加点昼夜冲刺，计划在2月5日左右， ...

Group 1 - The core viewpoint of the news highlights a recent rebound in lithium prices driven by strong demand from energy storage and stable growth in the electric vehicle sector, indicating high certainty and growth potential for lithium resources [1] - The West Securities report anticipates that the small metals sector will benefit from new opportunities due to the rise of AI industry demand, with three core logical drivers: rigid supply-side policies, export recovery on the demand side, and long-term growth momentum [1] - The tungsten market has moved away from traditional cyclical fluctuations, entering a new price cycle and value reassessment phase driven by supply constraints and emerging demand [1] Group 2 - The antimony industry is entering a sustained realization period of strategic allocation value due to the interplay of resource depletion, continuous demand expansion, and policy benefits [1] - The tin industry is characterized by a resilient supply-demand balance, with long-term allocation value becoming increasingly prominent due to reduced reserves and emerging demand [1] - As of December 31, 2025, the top ten weighted stocks in the China Rare Metals Theme Index account for 59.54% of the index, with key players including Luoyang Molybdenum, Northern Rare Earth, and Ganfeng Lithium [2] Group 3 - Investors can also explore investment opportunities in the rare metals sector through the Rare Metals ETF linked fund [3]

Group 1 - The provincial and municipal leadership emphasizes the importance of aligning with national strategies and enhancing core technologies to support high-quality economic development in Xi'an [1][2] - Companies like Western Superconducting Technologies Co., Ltd. and LONGi Green Energy Technology Co., Ltd. are encouraged to focus on innovation, product development, and market expansion to strengthen their competitive advantages [1][2] - The Xi'an Geely Automobile Co., Ltd. is urged to accelerate new product and technology development while adapting to market demands, especially in a challenging economic environment [2] Group 2 - The Economic Development Zone is identified as a key area for economic growth, with a focus on technological innovation and advanced manufacturing as primary development directions [2] - The leadership calls for enhanced investment attraction and project construction to support high-quality development, emphasizing the need for a favorable business environment [2] - There is a strong emphasis on stabilizing growth and ensuring successful project execution in the first quarter to contribute to the overall economic stability of the city [2]

数据显示，截至2025年12月31日，上证科创板50成份指数(000688)前十大权重股分别为中芯国际、寒武 纪、海光信息、澜起科技、中微公司、金山办公、联影医疗、拓荆科技、芯原股份、沪硅产业，前十大 权重股合计占比54.42%。 截至2026年1月22日 10:22，上证科创板50成份指数(000688)上涨0.03%，成分股龙芯中科上涨5.10%，中 国通号上涨4.74%，西部超导上涨4.63%，澜起科技上涨3.62%，华大智造上涨3.01%。科创50ETF平安 (589150)多空胶着，最新报价1.12元。 风险提示：基金有风险，投资需谨慎。基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资 产，但不保证本基金一定盈利，也不保证最低收益。基金管理人提醒投资人基金投资的"买者自负"原 则，在做出投资决策后，基金运营状况与基金净值变化引致的投资风险，由投资人自行负担。基金的过 往业绩及其净值高低并不预示其未来业绩表现，基金管理人管理的其他基金的业绩不构成对本基金业绩 表现的保证。投资人购买基金，既可能按其持有份额分享基金投资所产生的收益，也可能承担基金投资 所带来的损失。投资人应当认真阅读《基金合同》 ...

Group 1 - The Zhongzheng General Aviation Theme Index (931855) has seen a strong increase of 3.46%, with component stocks such as Triangle Defense rising by 16.35%, Steel Research High-tech by 9.28%, and Aerospace Electronics by 8.17% [1] - The General Aviation ETF (561660) also rose by 3.39%, with the latest price reported at 1.4 yuan [1] - The commercial aerospace sector is experiencing a revival, with three companies—Xinghe Power, Xingji Glory, and Tianbing Technology—updating their listing guidance progress, alongside the acceptance of Blue Arrow Aerospace's IPO application and the completion of guidance filing by China Aerospace [1] Group 2 - The Zhongzheng General Aviation Theme Index tracks 50 listed companies involved in aviation materials, components, aircraft manufacturing, infrastructure, operations, and applications, reflecting the overall performance of the general aviation sector [2] - As of December 31, 2025, the top ten weighted stocks in the index include Aerospace Electronics, Haige Communication, China Satellite Communications, and others, accounting for a total of 43.4% of the index [2]

Core Viewpoint - The commercial aerospace sector in China is experiencing rapid growth due to breakthroughs in reusable rocket technology and accelerated large constellation networking, which are expected to yield significant industry benefits [1][2]. Group 1: Industry Developments - The launch frequency of China's commercial aerospace has increased, with the Long March 12 rocket's launch cycle shortened by 4 days, showcasing enhanced efficiency and commitment to meeting launch schedules [1]. - The upcoming launches of new rockets such as the Lijian-2, Zhuque-3, and Long March 12A are anticipated to mark a period of rapid development in China's commercial aerospace sector during the 14th Five-Year Plan [1]. - The global competition for low Earth orbit resources is intensifying, with an estimated capacity limit of approximately 60,000 satellites in near-Earth orbit, and around 57,000 low Earth orbit satellites expected to be deployed by 2029 [2]. Group 2: Market Growth Projections - The satellite manufacturing and launch market in China is projected to grow from 26.8 billion yuan in 2026 to 127.9 billion yuan by 2030, reflecting a compound annual growth rate (CAGR) of 48.1% [1]. - The military and aerospace sectors are becoming core investment directions, driven by strategic initiatives in manned lunar missions and deep space exploration [2]. Group 3: ETF Performance - The military ETF Guangfa (512680) saw a rise of over 3%, with significant gains in constituent stocks such as Triangle Defense and Steel Research, indicating strong market interest [2]. - The satellite ETF Guangfa (512630) also experienced a peak increase of over 3%, with notable performances from stocks like Electronic Science and Technology and Aerospace Universe [2]. - The satellite ETF Guangfa reached a latest scale of 1.472 billion yuan, with a net inflow of 394 million yuan over the past 10 trading days [3].

Group 1 - The commercial aerospace sector is experiencing a revival, with companies like Star River Dynamics, Interstellar Glory, and Tianbing Technology updating their listing guidance, while Blue Arrow Aerospace's IPO application has been accepted and China Aerospace has completed its guidance filing, marking a significant push towards becoming the "first commercial aerospace stock" [1] - The core energy technology for satellites, solar wings, is evolving from rigid to flexible designs, significantly reducing size and weight, which aids in satellite lightweight integration, supports multi-satellite stacking launches, and lowers launch costs, facilitating rapid deployment of satellite internet [1] - Space photovoltaic technology utilizes high-intensity space sunlight to efficiently meet the energy needs of satellites and space stations, with potential for wireless energy transmission to provide clean power to the ground, becoming a focal point in global technological competition [1] Group 2 - As of January 22, 2026, the CSI Defense Index (399973) has risen by 3.14%, with notable increases in component stocks such as Triangle Defense (up 13.95%), Western Materials (up 10.00%), and Steel Research High-Tech (up 9.66%) [1] - The Defense ETF (512670) closely tracks the CSI Defense Index and has increased by 3.00%, with the latest price reported at 1.03 yuan [1] - The top ten weighted stocks in the CSI Defense Index as of December 31, 2025, include Aerospace Electronics, Aero Engine Corporation, AVIC Shenyang Aircraft, and others, collectively accounting for 42.34% of the index [2]

场内ETF方面，截至2026年1月22日 10:14，中证稀有金属主题指数(930632)上涨0.08%，成分股西部材 料10cm涨停，盛新锂能上涨5.97%，西部超导上涨5.43%，中稀有色上涨3.68%，中钨高新上涨3.14%。 稀有金属ETF基金(561800)盘中换手5.33%，成交1206.79万元。 消息面上，稀有金属板块迎来产业需求与供给的多重利好共振。产业端，供需缺口持续扩大，据国际能 源署（IEA）2025年12月发布的《全球关键矿产展望》，在能源转型驱动下，2040年锂需求将较当前增 长五倍，钴、稀土需求增长50%-60%，且铜、锂2035年供需缺口或分别达30%、40%，长期供给压力显 著。需求端，新能源与新质生产力需求双线发力，全球AI算力基建拉动PCB用钨制微型钻针需求，光伏 硅片薄片化推动钨丝金刚线替代传统钢丝线，且美国锂电储能站、中国电网消纳需求提振锂消费。 数据显示，截至2025年12月31日，中证稀有金属主题指数(930632)前十大权重股分别为洛阳钼业、北方 稀土、华友钴业、盐湖股份、赣锋锂业、天齐锂业、中矿资源、厦门钨业、中国稀土、西部超导，前十 大权重股合计占比59.5 ...