Group 1 - The BEST project in Hefei, Anhui, has successfully completed the installation of its core component, the Dewar base, marking a significant milestone in the construction of the compact fusion energy experimental device [1] - The total assembly of the BEST project is set to begin on May 1, 2025, which is a crucial phase involving the precise installation of various fusion reactor components [1] - The installation process utilized a space-grade attitude control system, achieving millimeter-level precision for the 400-ton Dewar base, which sets a new record in the installation of large components [1] Group 2 - China's nuclear fusion industry has seen significant breakthroughs and advancements in core engineering, with three major fusion devices achieving phase results this year [2] - The EAST device achieved a record plasma operation time of 1066 seconds at 100 million degrees Celsius, demonstrating China's leading position in plasma confinement technology [2] - The China National Nuclear Corporation's new Tokamak device has entered the fusion burning experimental phase, achieving temperatures of 117 million degrees Celsius for atomic nuclei [2] Group 3 - Private enterprises in China are also making strides in nuclear fusion, with the Xuanlong-50U device achieving high-temperature, high-density plasma current, marking a significant step towards commercializing hydrogen-boron fusion [3] - The timeline for commercializing nuclear fusion is becoming clearer, with expectations to light the first "nuclear fusion lamp" in China by 2030 [3] - The BEST project aims to achieve its "lighting" goal by 2030, indicating a critical decade for the fusion industry [3] Group 4 - The Fusion New Energy (Anhui) Co., Ltd., a key player in the BEST project, was established in May 2023 with an initial registered capital of 5 billion yuan, which increased to 14.5 billion yuan in June 2024 [4] - The company is following a three-step approach from the BEST project to a commercial fusion reactor [4] - A preliminary supply chain for fusion energy has been established, with major research institutions leading the formation of industry alliances [5] Group 5 - The supply chain for the BEST project consists of 16 A-share listed companies, including Shanghai Electric and Western Superconducting, which provide essential components for the project [5] - The project involves collaboration with various enterprises and research institutions to accelerate the development of core fusion technologies [5]

Core Viewpoint - The A-share market continued to rise in September, with the Shanghai Composite Index increasing by 0.64%, the Shenzhen Component Index rising by 6.54%, and the ChiNext Index climbing by 12.04%. Analysts are looking for investment opportunities in October, with over ten brokerage firms releasing their monthly investment portfolios across various sectors [1]. Group 1: Recommended Stocks - Multiple brokerage firms have recommended stocks in sectors such as materials and technology, including notable names like Hikvision, Zhaoyi Innovation, Huayou Cobalt, and Luoyang Molybdenum, which received recommendations from three different brokerages [2][3]. - Hikvision has a latest closing price of 31.52 yuan and a market capitalization of 288.88 billion yuan, with a 1.12% increase in September [5]. - Zhaoyi Innovation has a closing price of 213.30 yuan and a market capitalization of 142.33 billion yuan, with a significant increase of 34.17% in September [5]. - Huayou Cobalt has a closing price of 65.90 yuan and a market capitalization of 125.16 billion yuan, with a notable increase of 37.15% in September [5]. - Luoyang Molybdenum has a closing price of 15.70 yuan and a market capitalization of 330.84 billion yuan, with a 27.02% increase in September [5]. Group 2: Investment Themes and Sectors - Brokerages suggest that October may see a "red October" market, with a focus on technology and "anti-involution" themes. The third-quarter report window is highlighted as a key focus for October [6]. - The market is expected to continue the upward trend seen in September, with an emphasis on sectors such as AI computing power, semiconductor self-sufficiency, solid-state batteries, commercial aerospace, and controllable nuclear fusion [6]. - The "14th Five-Year Plan" is anticipated to influence policies related to "anti-involution," making this direction worthy of attention in October [6]. - Key investment themes for October include global AI capital expenditure, thematic investments related to the "14th Five-Year Plan," and sectors likely to exceed performance expectations, such as brokerage firms and semiconductors [6][7].

Core Viewpoint - The A-share market continued to rise in September, with the Shanghai Composite Index increasing by 0.64%, the Shenzhen Component Index rising by 6.54%, and the ChiNext Index climbing by 12.04%. Analysts are looking for investment opportunities in October, with over ten brokerages releasing their monthly investment portfolios across various sectors [1]. Group 1: Recommended Stocks - Multiple brokerages have recommended stocks including Aolide, China Merchants Shekou, Hikvision, China Merchants Bank, Cambrian Biologics, and Shanghai Lingang [2]. - Notable stocks receiving multiple recommendations include Hikvision, Zhaoyi Innovation, Huayou Cobalt, and Luoyang Molybdenum, each recommended by three brokerages [3]. - Huayou Cobalt saw the highest increase in September, with a rise of over 37%, closing at 65.9 yuan [3]. Group 2: Market Trends and Focus Areas - Brokerages suggest that the A-share market is expected to enter a "red October," with a focus on technology and "anti-involution" sectors. The third-quarter report window is highlighted as a key focus for October [5]. - The market is anticipated to maintain a trend of gradual upward movement, with the third-quarter reports being crucial for policy expectations and performance [5]. - Key investment themes include AI computing power, semiconductor autonomy, solid-state batteries, commercial aerospace, and controllable nuclear fusion, which are considered priority sectors [5].

Core Viewpoint - The A-share market continued to rise in September, with the Shanghai Composite Index increasing by 0.64%, the Shenzhen Component Index rising by 6.54%, and the ChiNext Index climbing by 12.04%. Analysts are looking for investment opportunities in October, with over ten brokerages releasing their monthly investment portfolios across various sectors [1]. Group 1: Recommended Stocks - Multiple brokerages have recommended stocks across different sectors, including technology and materials, with notable mentions such as Hikvision, Zhaoyi Innovation, Huayou Cobalt, and Luoyang Molybdenum, each receiving recommendations from three brokerages [2][3][4]. - Huayou Cobalt saw the highest increase in September, with a rise of over 37%, closing at 65.9 yuan [3]. Group 2: Industry Preferences - Brokerages suggest that the A-share market may experience a "red October," focusing on technology and "anti-involution" themes. The upcoming Q3 reports are highlighted as a key focus for October [5]. - Key investment themes include AI computing power, semiconductor self-sufficiency, solid-state batteries, commercial aerospace, and controllable nuclear fusion, as emphasized by various brokerages [5]. - East China Securities identifies four main lines of focus for October: acceleration in global AI capital expenditure, themes related to the 14th Five-Year Plan, sectors with potential earnings surprises during the Q3 reporting period, and midstream raw material manufacturing industries benefiting from anti-involution policies [5].

Group 1 - The field of controllable nuclear fusion is accelerating towards commercialization, with significant advancements reported from China and Germany, marking an intensifying global competition in the "artificial sun" race [1] - In China, the BEST project in Hefei has achieved a key breakthrough with the successful development and delivery of the main component, the Dewar base. The total assembly work for BEST is set to officially start in May 2025, with completion expected in two years, aiming for the first demonstration of fusion energy generation globally [1] - Germany's government has approved an action plan to build the world's first nuclear fusion power plant, with over 2 billion euros allocated for research and infrastructure support by 2029 [1] Group 2 - China Galaxy Securities emphasizes the importance of controllable nuclear fusion as the sole direction for future energy, with around 35 countries engaged in fusion research, led by China, the US, Russia, Europe, and Japan [2] - The nuclear fusion industry chain consists of upstream materials, midstream superconducting magnets, first wall structures, vacuum modules, and downstream power plant operations. Companies are advised to focus on core projects in terms of industry development stages, high value, certainty, elasticity, and AI empowerment [2] - Industrial growth potential is highlighted for Tian Gong International (00826), which is positioned in the scarce core materials sector, particularly in titanium alloys and fusion materials, with significant growth opportunities in humanoid robotics [2]

Core Viewpoint - China's recent breakthrough in superconducting magnet technology, achieving a steady-state magnetic field of 35.1 Tesla, positions the country as a leader in controlled nuclear fusion research, potentially revolutionizing energy production and addressing global energy crises [1][4]. Group 1: Significance of the Breakthrough - Controlled nuclear fusion is considered the "ultimate energy" source, producing energy greater than that of atomic bombs without generating radioactive waste [2]. - The 35.1 Tesla magnetic field allows for sustained nuclear fusion within the "Eastern Super Ring," enhancing energy output and potentially accelerating the timeline for successful fusion experiments in China [4]. Group 2: Unique Technological Advancements - China has developed a unique "high-temperature + low-temperature" coaxial nested technology for superconducting magnets, which significantly enhances magnetic field strength [7][8]. - The full superconducting magnet technology is entirely domestically produced and controlled, indicating a significant technological edge over other nations [7]. Group 3: Broader Implications - Advancements in superconducting technology are expected to improve medical imaging, enhance transportation and power transmission efficiency, and accelerate the development of clean energy through controlled nuclear fusion [10]. - The breakthrough is likely to attract significant foreign investment in China's green energy and high-tech sectors, with notable interest from sovereign wealth funds [10].

Core Insights - The company, Yingjie Electric (300820), is closely monitoring the progress of controllable nuclear fusion projects and related procurement bidding situations [1] Company Summary - Yingjie Electric is actively engaging with investors regarding its involvement in controllable nuclear fusion projects [1]

格隆汇9月30日丨大恒科技(600288.SH)在互动平台表示，公司目前无脑机接口或可控核聚变相关业务。 ...

Core Viewpoint - Honglin Electric (301439.SZ) is currently not involved in high-temperature superconductors and controllable nuclear fusion fields, focusing on its main business while monitoring new opportunities in industry development [1] Company Focus - The company is concentrating on its core business and aligning with its strategic direction and business planning [1] - Honglin Electric is committed to continuously observing new opportunities in the industry [1]

Market Performance - A-shares experienced fluctuations with the Shanghai Composite Index slightly rising, while the ChiNext Index saw a minor increase of 0.06% [1] - The STAR 50 Index performed strongly, rising over 2% and reaching a nearly four-year high [1] - The storage chip sector continued its strong performance, with Jiangbolong rising over 17% and other companies like Baiwei Storage and Xiangnong Chip rising nearly 10% [1] - The semiconductor industry chain also saw significant gains, with Guolin Technology and Huamao Technology hitting the daily limit, and Huahong Company rising over 10% to a new high [1] - The non-ferrous metals sector led the market, with companies like Boqian New Materials achieving consecutive gains and Xiyu Shares hitting the daily limit [1] - Financial sectors faced adjustments, with Yunan Bank dropping nearly 3% and other financial stocks declining by nearly 2% [1] Sector Insights - Energy metals, semiconductors, batteries, storage chips, Sora, and phosphorus chemical sectors showed the highest gains [2] - Conversely, banking, insurance, liquor, trust, combustible ice, and waste classification sectors experienced the most significant declines [2] Industry Trends - The nuclear fusion industry is accelerating towards commercialization, with private enterprises and capital entering the sector [3] - The lithium battery industry chain investment is rapidly increasing, with solid-state batteries becoming a hot investment area [3] - The aviation sector is expected to see strong demand during the 2025 National Day and Mid-Autumn Festival holidays, with potential for better-than-expected performance [3] Economic Indicators - In September, the PMI for equipment manufacturing, high-tech manufacturing, and consumer goods industries were 51.9%, 51.6%, and 50.6% respectively, indicating expansion [4] - The manufacturing PMI rose to 49.8%, showing continued improvement in economic activity [4] - High-energy-consuming industries reported a PMI of 47.5%, a decrease of 0.7 percentage points from the previous month [4] Policy Developments - Shenzhen has implemented measures to support the high-quality development of the low-altitude economy, offering substantial financial incentives for companies operating eVTOL and unmanned aerial vehicles [5]