"没有合适的原料，我们就自己开发。"抚顺特钢技术中心主任助理王树财回忆道，2012年研发之初，中 国科学院上海应用物理研究所团队在确定GH3535合金元素成分的精准配比后，精准控制成分是大生产 冶炼的第一道难关。科研人员在冶炼炉前熬过无数个通宵，记录本上写满了密密麻麻的数据，经过坚持 不懈的试验，最终确立了精准的合金化学成分及控制体系。 成分难题刚破，金属"偏析"问题接踵而至。"所谓偏析，就像炒大锅菜，食材越多越难拌匀，有的地方 咸、有的地方淡，影响了合金的整体性能。"王树财说，这种化学元素的不均匀会直接影响合金的耐蚀 性和强度。由中国科学院上海应用物理研究所、中国科学院金属研究所和抚顺特钢联合组成的团队不断 改善熔炼和扩散退火工艺，最终让合金各部位的成分均匀度达到标准。 本报记者 崔振波 日前，由中国科学院上海应用物理研究所牵头建成的2兆瓦液态燃料钍基熔盐实验堆首次实现钍铀核燃 料转换，成为目前全球唯一运行并实现钍燃料入堆的熔盐堆。钍基熔盐堆是以钍为燃料，以高温熔盐作 为冷却剂的第四代先进核能系统，与目前普遍使用的压水堆不同，无须巨大压力容器，也不用大量水冷 却，就像把核燃料放在高温的盐里流动发电，既安全又 ...

Group 1 - The article emphasizes the importance of timely and professional information interpretation in investment decision-making [1] - It highlights the investment value of significant events, industry chain companies, and key policy interpretations [1] - The company mentioned, which indirectly holds shares in Moer Thread and Muxi, is deeply involved in the commercial development of thorium-based molten salt reactors [1] Group 2 - In the storage and automotive electronics sector, new LPDDR4 process products are on the verge of release, while there is a shortage in the eMMC product market [1] - The company’s storage products are primarily utilized in the automotive industry, indicating a strategic focus on this growing market [1] - The DRAM product inventory is reported to be sufficient, suggesting a stable supply chain for the company [1]

Core Viewpoint - The article emphasizes that China is on the verge of becoming the world's first "electric power empire," driven by advancements in technology and energy production, particularly in the context of AI development and energy consumption [1][3]. Group 1: Energy and Technology - The International Energy Agency predicts that the energy market is entering an "electric era" led by China, linking energy control to global influence [3]. - The future of industrial upgrades relies heavily on technology and AI, which require substantial electricity for operations, with AI training consuming significant energy [4][5]. - By 2030, global AI industry electricity consumption is expected to exceed 945 billion kilowatt-hours annually, highlighting the critical need for sufficient and cost-effective electricity [4]. Group 2: China's Energy Strategy - China is not a major oil producer, making the development of renewable energy essential for its future, aiming for electric power dominance [14][15]. - China's projected electricity generation in 2024 is expected to reach 10 trillion kilowatt-hours, significantly surpassing the United States' 4.8 trillion kilowatt-hours [17][18]. - China's advancements in renewable energy, such as solar and hydropower, contribute to its ability to produce electricity at lower costs, with average electricity costs around 0.5 yuan per kilowatt-hour [34][35]. Group 3: Technological Innovations - Recent breakthroughs in controlled nuclear fusion and thorium-based molten salt reactors position China as a leader in safe and efficient energy production [22][26]. - These technologies could potentially provide energy for thousands of years, ensuring energy security and low costs for China [29][30]. Group 4: Competitive Landscape - The article argues that the low cost of electricity in China gives it a competitive edge in manufacturing and AI development, making it less vulnerable to energy shortages compared to the U.S. [60][61]. - The U.S. faces significant challenges in electricity supply, with predictions of a 20% power shortfall by 2028, which could hinder its technological advancements [6][66]. Group 5: Investment Opportunities - Investors are encouraged to look beyond traditional tech sectors and consider opportunities in the electricity grid and power equipment, as these areas will be crucial for supporting the growing demand for energy in high-tech industries [78][79].

Core Viewpoint - Donghua Testing (300354) is collaborating with a certain institute of the Chinese Academy of Sciences to develop an intelligent PHM system for China's new thorium-based molten salt reactor [1] Company Summary - Donghua Testing is actively engaged in research and development efforts in partnership with a prestigious scientific institution [1]

Core Viewpoint - The controllable nuclear fusion sector is experiencing significant growth, with Hailu Heavy Industry's stock price increasing over 172% from its year-low, driven by industry advancements and strong financial performance [1][3]. Company Summary - Hailu Heavy Industry's stock price reached 14.38 CNY per share, with a market capitalization of 11.95 billion CNY [1]. - The company has been involved in the nuclear power sector since 1998 and is a core supplier of nuclear power equipment in China, with a diverse range of products for various nuclear reactor types [3]. - The company's nuclear power business has become a key growth driver, with revenue from this segment reaching 83.24 million CNY in the first half of the year, a staggering increase of 891.35% year-on-year [3]. Financial Performance - For the first three quarters of the year, Hailu Heavy Industry reported total revenue of 1.685 billion CNY, a decrease of 5.27% year-on-year, while net profit increased by 32.67% to 320 million CNY [4]. - In the third quarter alone, revenue was 653 million CNY, reflecting a year-on-year increase of 4.23%, and net profit was 128 million CNY, up 13.13% year-on-year [4]. Industry Developments - The recent surge in Hailu Heavy Industry's stock price is attributed to favorable industry developments, including the successful operation of a 2 MW liquid fuel thorium-based molten salt experimental reactor, which is the only one globally to achieve thorium fuel conversion [3]. - The thorium-based molten salt reactor is expected to reduce reliance on imported uranium resources, leveraging China's abundant thorium resources [3].

Core Viewpoint - The company has been dedicated to the research of key thermal equipment and systems, particularly molten salt storage and steam generation systems, since 2010, showcasing its commitment to innovation in energy technology [1] Group 1: Technology Development - The company has developed a large-capacity molten salt heat absorber and steam generation system suitable for solar thermal and storage systems, which has been recognized as the first major technological equipment in the national energy sector [1] - The molten salt energy storage technology is a significant competitive advantage for the company, enabling applications in solar thermal power generation, user-side energy storage, flexible transformation of thermal power, and zero-carbon parks [1] Group 2: Project Experience - The company has accumulated extensive experience in the construction and operation of molten salt energy storage projects, indicating a strong operational capability in this field [1] Group 3: Future Opportunities - The company is focusing on the application layout of third-generation and fourth-generation nuclear reactors, particularly in thorium-based molten salt reactors, which are seen as a core path for fourth-generation nuclear technology [1] - The company aims to leverage its technological advantages to participate in future demonstration projects and commercialization opportunities related to thorium-based molten salt reactors [1]

Group 1 - The company has not yet manufactured any thorium molten salt reactor-related equipment, although it recognizes thorium molten salt reactors as one of the six candidate reactor types for the fourth generation advanced nuclear energy systems [2] - The company has the capability to provide nuclear second and third pressure vessels, storage tanks, and heat exchangers, indicating its strategic focus on the nuclear power business [2] - The company will closely monitor developments in the nuclear power industry and will disclose any relevant information in accordance with legal requirements if certain conditions are met in the future [2]

Core Viewpoint - The company is exploring the potential of thorium-based molten salt reactors as part of the advanced nuclear energy systems, indicating a strategic interest in the nuclear power sector [1] Company Summary - The company has not yet manufactured any thorium-based molten salt reactor equipment [1] - The company possesses the capability to provide nuclear secondary and tertiary pressure vessels, storage tanks, and heat exchangers [1] - Nuclear power is identified as one of the strategic development businesses for the company [1] Industry Summary - Thorium-based molten salt reactors are one of six candidate reactor types for the fourth generation of advanced nuclear energy systems [1] - The company will closely monitor developments in the nuclear power industry [1] - The company commits to timely disclosure of relevant information if it meets legal disclosure requirements in the future [1]

Core Viewpoint - The company, Chuan Yi Co., Ltd. (川仪股份), has announced that its products, including molten salt float flow meters, high-temperature radiation-resistant ultrasonic flow meters, and high-temperature pressure transmitters, have been successfully applied or won bids for the Thorium-based molten salt reactor project by the Chinese Academy of Sciences [1] Group 1 - The company is involved in advanced measurement technology for high-temperature and radiation environments [1] - The successful application of its products in a significant national project indicates strong market potential and technological capability [1] - The collaboration with the Chinese Academy of Sciences highlights the company's role in the development of innovative energy solutions [1]

Core Viewpoint - The company is actively focusing on and seeking to participate in subsequent thorium-based molten salt reactor demonstration projects and commercialization opportunities [1] Group 1: Company Overview - The company has been dedicated to the research of key thermal equipment and systems, such as molten salt thermal storage and steam generation systems, since 2010 [1] - The self-developed "high-power molten salt heat absorber and molten salt steam generation system suitable for solar thermal and thermal storage systems" has won recognition as the first major technological equipment in the national energy sector [1] - The company has accumulated rich experience in the construction and operation of molten salt energy storage projects, leveraging its competitive advantage in molten salt storage technology [1] Group 2: Industry Focus - The company is focusing on various energy utilization scenarios, including solar thermal power generation, user-side energy storage, flexible transformation of thermal power, and zero-carbon parks [1] - Thorium-based molten salt reactors are identified as a core pathway for fourth-generation nuclear power technology, with recent successful operation of a small experimental thorium-based molten salt reactor [1] - The company plans to leverage its technological reserves to enhance the application layout of third-generation and fourth-generation reactors [1]