"马"上发力 招商引资迎来"开门红" 我市30个重大招商项目签约 总投资超600亿元 马年新春启新程，招商签约谱新篇。在2026年泉州市民营经济发展大会上，30个重大招商项目现场集中签约，总投资超600亿元，涵盖数字经济、新材 料、高端制造、新能源、海洋经济、文商旅产业等多个领域。 "数智"引领高端制造提速增效。总投资32亿元的全新智能化卫生用品生产基地项目选址惠安，拟建设生产车间、智慧仓库等，全面引入AI视觉检测系统、 5G物联网数字孪生等前沿装备，项目建成达产后预计年产能达50亿片，创造1000余个就业岗位；总投资20亿元的美的小家电智能基地项目拟选址德化， 建设数字智能自动化组装基地，引进数控中心和智能自动生产线，助力现代化小家电智能制造产业发展；位于泉州台商投资区的高速悬浮电动机及高速磁 悬浮离心机智能装备项目，总投资21亿元，项目投产后预计年生产5000台以上设备，产值超40亿元。 新能源与新材料聚势赋能。总投资26.8亿元中科睿升新能源材料项目，将在泉港建设高性能橡胶生产和相关配套设施；闽华新能源电池材料一体化供应链 基地选址安溪，将建设电池材料智慧仓储与配送中心以及综合配套等；中核绿色能源产业项 ...

开源证券近日发布电力行业2026年度投资策略：2025年，A股红利风格板块整体表现不佳。2025年，电 力需求维持平稳增长，我国全社会用电10.37万亿千瓦时，同比增长5.0%。预计十五五期间我国将呈 现"宽电量、紧电力"的电力供需格局，综合电价有望企稳。 以下为研究报告摘要： 1.行业回顾：红利风格表现不佳，电力需求平稳增长 2025年，A股红利风格板块整体表现不佳。2025年，电力需求维持平稳增长，我国全社会用电10.37万亿 千瓦时，同比增长5.0%。预计十五五期间我国将呈现"宽电量、紧电力"的电力供需格局，综合电价有望 企稳。 2.电力：电价下探、补贴退坡，电力体制改革步入深水区 （1）火电：电价承压、煤价趋稳，容量电价重塑火电商业模式。2025年北方火电单位盈利整体同比向 好，东南沿海火电单位盈利承压。2026年江苏、浙江年度长协电价同比下降68.26、67.54元/兆瓦时。容 量电价基本能够覆盖煤电固定成本，折旧到期后有望贡献稳定盈利，红利属性有望强化。 （2）水电：经营稳健，低利率环境下具备长期配置价值。2025年，主要水电上市公司经营稳健。 2024H2起，水电股息率与国债收益率的息差走阔；2 ...

Investment Rating - The report rates the controlled nuclear fusion industry as "Outperform the Market" [1][8] Core Insights - Controlled nuclear fusion is considered the "ultimate energy solution" due to its potential for near-infinite energy, high energy density, and minimal environmental impact [1][13] - The industry is experiencing a second acceleration phase driven by advancements in technology, increased capital expenditure, and supportive policies [3][38] - The market space for nuclear fusion is projected to reach 800-1000 billion yuan, with significant growth expected as the technology matures [6][8] Summary by Sections Introduction to Controlled Nuclear Fusion - Nuclear fusion involves the combination of two light atomic nuclei to form a heavier nucleus, releasing significant energy [1][15] - It is viewed as a solution to energy challenges, offering advantages over traditional energy sources [1][17] Advantages of Nuclear Fusion - Fusion fuel sources are abundant, and the energy density is significantly higher than that of fission [2][21] - It has inherent safety features, reducing the risk of catastrophic failures [2][21] Development of Nuclear Fusion in China - China is pursuing multiple technological pathways, primarily focusing on the Tokamak route for commercial power generation [3][38] - The country aims to demonstrate controlled nuclear fusion power generation by around 2030 and achieve commercial viability by 2050 [3][38] Industry Catalysts - The industry is currently in a phase of rapid development, with increased investment and participation from both state-owned and private enterprises [3][38] - The integration of AI and advancements in high-temperature superconductors are expected to further accelerate progress in the nuclear fusion sector [3][38] Market Potential - The nuclear fusion market is expected to generate substantial demand for engineering and equipment, with annual investments projected at around 20 billion yuan during the 14th and 15th Five-Year Plans [6][8] - Long-term projections suggest that fusion power plants could replace a significant portion of current electricity generation, contributing to carbon neutrality goals by 2060 [6][8] Industry Chain Overview - The nuclear fusion industry chain includes key components such as superconducting materials, vacuum systems, and various auxiliary systems [4][6] - Major companies involved in the sector include 应流股份, 许继电气, and 中国核电, all rated as "Outperform the Market" [8]

Core Insights - The successful delivery of the first set of dual-direction thrust bearings for the main pump of the Hualong One project in Pakistan marks a significant advancement for the company in the high-end nuclear power bearing sector, transitioning from "catching up" to "keeping pace" with global standards [1] - The main pump, referred to as the "heart" of the nuclear power plant, relies on the dual-direction thrust bearing for stable operation, which has historically been a bottleneck in China's nuclear equipment autonomy [1] Company Developments - The company, in collaboration with Harbin Electric Power Equipment Co., has established a specialized team to overcome technical challenges in extreme nuclear conditions, achieving a product that meets international advanced standards [1] - The research and development of the thrust bearing involved breakthroughs in multi-dimensional fluid simulation, special babbitt alloy formulations, micron-level precision processing, and full-size bench testing, leading to complete domestic production and control [2] Industry Outlook - The global nuclear power industry is entering a new revival phase, driven by the dual carbon goals, with increasing demand for new overseas nuclear projects [2] - The Hualong One technology, which has complete independent intellectual property rights, is becoming a prominent representation of China's nuclear capabilities in international markets [2] - The successful delivery of the main pump bearing is seen as a landmark achievement for domestic high-end equipment core component localization, showcasing the role of small and medium enterprises in overcoming critical technology barriers [2]

央广网北京2月21日消息（记者王泽华）据中央广播电视总台中国之声《新闻和报纸摘要》报道， 这几天，海南昌江核电基地的工作人员正在持续推进"玲龙一号"热态性能试验，验证各系统在高温、高 压情况下运行的可靠性和安全性。 自"玲龙一号"全球首堆开工以来，已有来自90多个国家和地区、1000多人前来参观。宋丹戎介 绍，"玲龙一号"已成为世界了解中国核能发展的重要窗口，已与近10个国家签署了小堆合作的意向性协 议。 宋丹戎：我国正在能源科技领域坚持原始创新、突破关键核心技术，在小堆这条赛道上，中国的技 术标准制定话语权显著提升，燃料和关键设备自主化已经走在国际前列。 党的二十届四中全会提出，"加快建设新型能源体系，积极稳妥推进和实现碳达峰，加快形成绿色 生产生活方式"。魏智刚表示，期待通过"玲龙一号"的推广应用，助力我国"双碳"目标的达成，以先进 反应堆技术的示范效应，推动世界核能的发展。 魏智刚："玲龙一号"的推广应用可以大大减少我国化石能源消耗、促进节能减排，对海南自贸港和 海南生态文明示范区建设提供绿色能源保障具有重要意义。我们将持续推进堆型迭代，拓展核能综合利 用与国际开放合作的空间，让"玲龙一号"为全球能源发 ...

Core Viewpoint - The article discusses the potential of extracting uranium from seawater, highlighting China's progress in achieving the first phase of its "three-step" goal for seawater uranium extraction, which is crucial for energy security and sustainability [1][4]. Group 1: Seawater Uranium Extraction Potential - Seawater contains an estimated 4.5 billion tons of uranium, which is 1,000 times more than traditional land-based uranium resources, but the extraction process is complex due to the low concentration of uranium (3.3 mg per ton of seawater) [1]. - The "three-step" goal for seawater uranium extraction includes achieving kilogram-level extraction by 2025, establishing a ton-level demonstration project by 2035, and achieving continuous production by 2050 [1]. Group 2: Global Context and Importance - The global nuclear power landscape is expanding, with approximately 440 nuclear reactors in operation and at least 70 under construction, indicating a significant increase in nuclear capacity by 2050 [2]. - As a leading country in nuclear energy development, China's ability to economically extract uranium from seawater could enhance resource autonomy and long-term security for nuclear energy [3]. Group 3: Challenges and Collaborative Efforts - The current stage of seawater uranium extraction research is still in the engineering development phase, facing challenges such as cost, efficiency, and environmental adaptability [4]. - The establishment of the seawater uranium extraction technology innovation alliance, which includes various stakeholders from nuclear enterprises to research institutions, aims to overcome these challenges through collaborative innovation [4].

Core Insights - Hydrogen and nuclear fusion energy are identified as key economic growth points in China's 14th Five-Year Plan, emphasizing the importance of a mature capital market for supporting breakthroughs in these industries [1][2][3] - The global energy landscape is undergoing significant transformation towards decarbonization and smart restructuring, with hydrogen and nuclear fusion positioned as disruptive future energy solutions [2][3] Global Industry Landscape - The hydrogen industry is entering a phase of commercialization and rapid expansion, driven by strategic planning and policy incentives in developed economies, leading to high valuations for hydrogen technology companies [3] - Nuclear fusion is transitioning from government-led research to a public-private partnership model, attracting significant investment from venture capital and tech giants, reflecting strong market expectations for its long-term potential [3] China's Role in Global Capital Landscape - China is becoming an increasingly important player in the global renewable energy capital landscape, with its vast market potential and rapid development in hydrogen and nuclear fusion attracting international capital [3][4] - To enhance its competitive position, China must focus on original technology leadership, self-sufficiency in core supply chains, and building a more internationalized and market-oriented innovation capital ecosystem [3][4] Capital Market Empowerment - The development of hydrogen and nuclear fusion industries in China is characterized by a "national leadership, market participation, and capital promotion" model, with the capital market playing a crucial role in driving innovation [4][5] - In the hydrogen sector, China has established a complete industrial chain, with capital market support focusing on upstream hydrogen production, midstream storage and transportation, and downstream applications [4][5] Technological Challenges and Investment Dynamics - Both hydrogen and nuclear fusion face significant technological and economic challenges, requiring substantial long-term capital investment and a shift in investment logic towards patience and long-termism [6][7] - The hydrogen sector's challenges include reducing production costs and improving storage and transportation efficiency, while nuclear fusion faces fundamental scientific hurdles that require decades of research [7][8] Policy and Financial Collaboration - Policy and finance are essential drivers for the development of hydrogen and nuclear fusion industries, with the capital market's role evolving from a passive financing channel to an active enabler and value integrator [8][9] - For hydrogen, policies should create stable expectations and clear pathways, while for nuclear fusion, establishing specialized funds and supportive regulatory frameworks is crucial for attracting investment [9][10] Opportunities for Securities Firms - The success of hydrogen and nuclear fusion will reshape global capital dynamics and investment paradigms, creating new asset classes and investment opportunities [10][11] - Securities firms are tasked with broadening financing channels, innovating financial products, and enhancing research capabilities to support the growth of these industries [10][11] Future Implications - The capital influx into hydrogen and nuclear fusion signifies a broader investment in future energy solutions, which will fundamentally alter the logic of capital markets and global financial landscapes [12][13] - This shift will lead to the emergence of new asset valuation models and accelerate the transition of global capital towards sustainable technologies [12][13]

Core Insights - The transformation of Li Jiatai Village into a thriving tourist destination is attributed to the development of rural tourism and local entrepreneurship, significantly increasing the income of residents [1][2] - The support from China National Nuclear Corporation (CNNC) has been pivotal in the village's development, focusing on poverty alleviation and rural revitalization through infrastructure improvements and agricultural initiatives [2][3] Group 1: Economic Development - Li Jiatai Village has seen a dramatic increase in tourism, with daily visitor numbers reaching hundreds during weekends and holidays, leading to a substantial rise in annual income for local businesses [1] - The average income of residents in Li Jiatai Village is projected to exceed 20,000 yuan by 2025, representing an increase of over eight times from 2014 levels, when it was just over 2,000 yuan [2] Group 2: Infrastructure and Support - CNNC has implemented various initiatives, including building water supply systems, developing local industries, and establishing eco-industrial parks, which have transformed barren land into productive orchards [2] - The introduction of smart agricultural technologies, such as sensors and monitoring equipment, aims to enhance the quality and yield of local fruit production [3] Group 3: Education and Employment - CNNC's "Nuclear Seed Program" provides free vocational education to local high school graduates, facilitating employment opportunities within the corporation and contributing to poverty alleviation [3] - The village plans to transition from "building the countryside" to "managing the countryside," with the introduction of professional management to optimize local resources and create diverse economic activities [3]

Group 1 - The China Securities Regulatory Commission has approved China Shenhua Energy Co., Ltd. to issue shares to acquire assets from the State Energy Investment Group, with a fundraising target of up to 20 billion yuan [1] - Central enterprises are focusing on enhancing core functions and competitiveness, utilizing capital market platforms for optimizing state-owned economic layout and structural adjustments [1] - Since the release of the "Opinions on Deepening the Reform of the Mergers and Acquisitions Market for Listed Companies," there have been 170 asset restructuring disclosures by central enterprises in the Shanghai market, with 13 major restructurings totaling 179.4 billion yuan [1] Group 2 - Technology innovation is a key feature of central enterprises' transformation and upgrading, with 288 listed central enterprises in the Shanghai market by the end of 2025, accounting for 60% of all listed central enterprises [2] - The capital market is facilitating asset integration and revitalization, with significant projects like China Shipbuilding Industry Corporation's major asset restructuring setting records in A-share mergers [2] - Mergers and acquisitions focusing on industrial synergy are becoming crucial for central enterprises to enhance core functions and competitiveness [3] Group 3 - Central enterprises are increasingly utilizing diverse capital tools for professional integration, such as mergers, cross-border restructuring, and strategic investments [4] - In recent years, central enterprises have actively used the Shanghai Stock Exchange's bond platform, issuing various types of bonds, including technology innovation bonds and green bonds, with a total of approximately 2 trillion yuan in company bonds filed by 2025 [4] - The issuance of innovative financial products, such as asset-backed securities (ABS) and REITs, has been significant, with 500 billion yuan in ABS applications and 348 billion yuan in REITs completed [5][6] Group 4 - The construction of an index investment system for central enterprises is progressing, with 19 central state-owned enterprise theme indices published by the Shanghai Stock Exchange by 2025 [7] - A total of 43 central state-owned enterprise ETF products have been listed, with a combined scale of 71.6 billion yuan [8] - The Shanghai Stock Exchange is enhancing services for central enterprises, conducting over 200 visits annually and hosting more than 30 training events to support high-quality development [8]

Group 1 - Company Lanstone Heavy Industry (603169) announced that its Vice President Wang Bingzheng is under investigation for disciplinary and criminal issues, following the receipt of a notice from the Jingning County Supervisory Committee [1] - The company stated that the investigation and detention progress is currently unknown, but all board members and senior management are performing their duties normally, and the company's production and operations remain unaffected [1] - Wang Bingzheng has been in his position for less than five months, having been appointed on September 15, 2025, and has a history of roles within the Lanstone Group [2] Group 2 - Lanstone Heavy Industry is expected to report a loss of 370 million to 440 million yuan for 2025, marking a shift from profit to loss compared to the previous year [4] - The company attributes the anticipated loss to market supply-demand dynamics, intensified industry competition, and a decline in product gross margins, alongside a decrease in performance from its subsidiary Ruize Petrochemical and indications of goodwill impairment [4] - The company has signed a contract worth 580 million yuan with China Nuclear Power Engineering Co., Ltd. to provide equipment for a project with a construction period of approximately one year, indicating ongoing engagement in the energy and chemical equipment sector [3]