Core Viewpoint - The A-share market is experiencing a downturn, yet several controllable nuclear fusion stocks are rising, indicating a potential investment opportunity in this sector [1][5]. Group 1: Market Performance - On June 10, over 4,000 stocks in the A-share market were down, but controllable nuclear fusion stocks like Hanhua Tong and Baili Electric saw significant gains, with Baili Electric rising over 10% [1]. - Baili Electric has achieved 7 trading limits in 11 days, with its stock price increasing from 5.31 yuan on May 26 to 9.63 yuan on June 10, representing an over 80% increase [5]. Group 2: Industry Developments - Recent research achievements in controllable nuclear fusion have gained attention, with Huawei's CEO mentioning that nuclear fusion could be a significant technological revolution alongside artificial intelligence [2][6]. - The 2025 Shanghai International Carbon Neutral Technology Expo showcased advancements in controllable nuclear fusion and related technologies, highlighting the industry's potential to support carbon neutrality goals [5]. Group 3: Company Risk Disclosures - Several listed companies have cautioned investors about the risks associated with controllable nuclear fusion investments, noting that related revenues currently constitute a small portion of their main business income [3][9]. - Baili Electric reported a net loss of 109 million yuan for 2024, with related business income accounting for less than 1% of total revenue [8][9]. Group 4: Market Sentiment and Future Outlook - The controllable nuclear fusion concept index has shown volatility, with a peak of 1613.94 points in late May, currently standing at 1588.37 points [7]. - Analysts from CITIC Securities and Founder Securities express optimism about the long-term prospects of the controllable nuclear fusion industry, citing recent policy signals and technological advancements as catalysts for growth [12][13].

Core Viewpoint - Chengdu Xuguang Electronics Co., Ltd. experienced a significant stock price fluctuation, with a cumulative closing price increase of 20% over two consecutive trading days, triggering an abnormal trading alert [1][2]. Group 1: Stock Trading Abnormality - The company's stock price increased by a cumulative 20% on June 9 and June 10, 2025, which is classified as abnormal trading according to the Shanghai Stock Exchange regulations [2][3]. - The company's current production and operational status is normal, with no significant changes in market conditions or industry policies [2][3]. Group 2: Major Events and Confirmations - The company confirmed through inquiries with major shareholders that there are no undisclosed significant matters related to asset restructuring, share issuance, or other major transactions [2][3]. - The company has not identified any media reports or market rumors that could significantly impact its stock price [3]. Group 3: Product and Revenue Impact - The company is focusing on the "controlled nuclear fusion" concept, with its self-developed high-power electronic tubes being used in RF power supply devices for nuclear fusion, although this product accounted for less than 1% of the company's main business revenue in 2024 [1][3]. - The company urges investors to exercise caution and be aware of investment risks related to this emerging technology [1][3]. Group 4: Financial Metrics - As of June 9, 2025, the company's price-to-earnings (P/E) ratio is 83.8, which is higher than the industry average of 62.15, indicating a premium valuation [2][3]. - The company's price-to-book (P/B) ratio stands at 4.87, compared to the industry average of 3.36, further highlighting its elevated market valuation [3].

Core Viewpoint - The company, Xuguang Electronics (600353), has noted unusual stock trading fluctuations related to the "controlled nuclear fusion" concept, highlighting its involvement in this emerging technology [1] Company Summary - Xuguang Electronics has developed high-power electronic tubes in the kilowatt and megawatt range, which are components in radio frequency power supply devices for controlled nuclear fusion, aimed at achieving plasma heating of over one hundred million degrees Celsius [1] - For the fiscal year 2024, the revenue from these products is expected to account for less than 1% of the company's main business income, indicating a minimal impact on the company's overall performance for that year [1]

6月9日晚间，百利电气发布股票交易异常波动公告称，经公司自查，公司不存在应披露而未披露的信 息。同时，百利电气称，公司关注到"可控核聚变"热点概念。经自查，公司控股子公司荣信兴业公司主 营产品是高压动态无功补偿装置（SVC）、高压静止无功发生器（SVG），用于稳定系统电压，解决系 统电压波动问题。 荣信兴业公司仅参与了国际热核聚变试验堆（ITER）项目电力系统中无功补偿以及滤波（RPC&HF） 设备的设计制造，起到控制电能质量、减少电力损耗的作用。目前相关业务收入金额较小，2024年度相 关业务收入占公司整体收入比重不足1%，不会对公司业绩产生重大影响。敬请广大投资者注意投资风 险，理性决策，审慎投资。 与股价飙涨形成鲜明对比的是，百利电气的经营表现不佳。 长江商报奔腾新闻记者 潘瑞冬 搭上"可控核聚变"概念，百利电气(600468.SH)股价仍在"狂飙"。 6月10日，百利电气早盘快速拉升，尾盘再度涨停，连续3个交易日涨停，公司股票近期自5月16日首次 涨停以来至今，不到一个月时间录得10个涨停板，股价也从4.58元/股涨至6月10日收盘价9.63元/股，累 计涨幅高达110%。目前，百利电气股价已攀升至近 ...

Core Viewpoint - China Electric Xindong (002298) clarified on the interactive platform that it only provides intelligent power distribution equipment products to the Institute of Plasma Physics, Chinese Academy of Sciences, and these products are not used in controlled nuclear fusion [1] Company Summary - The company is involved in supplying intelligent power distribution equipment [1] - The products provided by the company are specifically for the Institute of Plasma Physics, Chinese Academy of Sciences [1] - There is no application of the company's products in the field of controlled nuclear fusion [1]

Group 1 - The carbon neutrality ETF fund (159885.SZ) increased by 0.36%, with its associated index, the domestic low-carbon index (000977.CSI), rising by 0.52% [1] - Key component stocks such as Sunshine Power rose by 3.10%, CATL by 0.48%, Changjiang Electric by 0.37%, Putailai by 6.19%, and Longi Green Energy by 0.76% [1] - The solid-state battery concept continues to show strength, with Jin Yinhe rising over 15% and Daoming Optics hitting the daily limit, driven by major automakers planning to launch new models with solid-state batteries by the second half of 2025 [1] Group 2 - According to Jias Consulting, energy storage inverters, while only accounting for 16% of the value, play a crucial role in system efficiency, safety, and power quality, covering the entire industry chain from raw materials to application scenarios [2] - Changjiang Securities analyzes that the photovoltaic sector is currently at a double bottom in terms of chips and fundamentals, with institutional holdings dropping to a historical low of 1.83%, indicating industry bottom characteristics [2] - The performance of photovoltaic companies within the carbon neutrality ETF is linked to the overall industry dynamics, as head enterprises are reducing output and second- and third-tier companies are engaging in equity transfers [2] Group 3 - Related products include the carbon neutrality ETF fund (159885) and its linked funds (Class A 012754, Class C 012755, Class I 022797) [2] - Associated stocks include Changjiang Electric (600900), CATL (300750), Sunshine Power (300274), Longi Green Energy (601012), China Nuclear Power (601985), Three Gorges Energy (600905), Tebian Electric (600089), EVE Energy (300014), Tongwei Co. (600438), and Guotou Power (600886) [4]

万和财富早班车 2025年6月10日 ● 国内金融市场 ● -、宏观消息汇总 1 国家统计局:5月份,全国居民消费价格(CPI)同比下降 0.1%,工业生产者出厂价格指数(PPI)同比下降3.3% 2 两部门：引导行业紧扣老年人的生理心理特点及服务需求, 进行智能养老服务机器人产品的设计开发 我们不是资讯的搬运工 而是有态度的发现者 3. 福达合金(603045)：公司控股股东、实际控制人王达武的一致 行动人陈松乐增持公司股份7700股 4、迈信林(688685)：公司控股子公司签订11.84亿元算力服务合同， 对公司2025年度或未来业绩产生积极影响 3 海关总署:5月,我国货物贸易进出口总值3.81万亿元,增长 2.7%,其中,出口增长6.3%;进口下降2.1% 二、行业最新动态 1 火山引擎原动力大会即将召开,字节AI产业链有望:相关个股: 汉得信息(300170)、润欣科技(300493)等 2. "618"大促,美妆品类成为电商平台销售主力军,相关个股: 丸美生物(603983)、珀莱雅(603605)等 3. 卫星互联网产业进展提速，机构称板块具备估值扩张潜力, 相关个股：上海沪工(603131) ...

昨日A股 6月9日，市场全天震荡走高，创业板指领涨。截至收盘，沪指涨0.43%，深成指涨0.65%，创业板指涨 1.07%。沪深两市全天成交额1.29万亿，较上个交易日放量1344亿。 盘面上，市场热点快速轮动，个股涨多跌少，全市场超4100只个股上涨。从板块来看，创新药概念股再 度大涨，足球概念股反复活跃，核电股展开反弹。板块方面，创新药、足球概念、稀土永磁、可控核聚 变等板块涨幅居前，贵金属、白酒等少数板块下跌。 | 名称 | 最新点位 | 涨跌幅 | | --- | --- | --- | | 上证指数 | 3399.77 | +14.41(0.43%) | | 深证指数 | 10250.14 | +66.44(0.65%) | | 创业板指 | 2061.29 | +21.85 (1.07%) | | | 日期:6月9日 制图:21投资通 | | 隔夜外盘 纽约股市三大股指6月9日涨跌不一。截至当天收盘，道琼斯工业平均指数比前一交易日下跌1.11点，收 于42761.76点，跌幅接近于零；标准普尔500种股票指数上涨5.52点，收于6005.88点，涨幅为0.09%；纳 斯达克综合指数上涨61.28点 ...

市 场 研 究 [Table_Title] 万联晨会 [Table_MeetReportDate] 2025 年 06 月 10 日 星期二 [Table_Summary] 概览 核心观点 【市场回顾】周一 A 股三大指数集体上涨。截至收盘，上证综指涨 0.43%，深成指涨 0.65%，创业板指涨 1.07%。全市场成交额 13,126 亿元，较上日增加 1,355 亿元。全市场超 4,100 只个股上涨。板块题 材上，创新药、足球概念、可控核聚变、互联网金融板块涨幅居前； 贵金属、白酒板块跌幅居前。 【重要新闻】 【国家统计局公布 2025 年 5 月份 CPI 和 PPI 数据】2025 年 5 月份， 全国居民消费价格同比下降 0.1%。其中，城市持平，农村下降 0.4%； 食品价格下降 0.4%，非食品价格持平；消费品价格下降 0.5%，服务 价格上涨 0.5%。1-5 月平均，全国居民消费价格比上年同期下降 0.1%。 5 月份，全国居民消费价格环比下降 0.2%。其中，城市下降 0.2%， 农村下降 0.2%；食品价格下降 0.2%，非食品价格下降 0.2%；消费品 价格下降 0.3%，服务价格持 ...

Jiang Su 6月9日，市场全天震荡走高，创业板指领涨。沪深两市全天成交额1.29万亿元，较上个交易日放 量1344亿元。盘面上，市场热点快速轮动，个股涨多跌少，全市场超4100只个股上涨。创新药、 足球概念、稀土永磁、可控核聚变等板块涨幅居前，贵金属等少数板块下跌。截至收盘，沪指涨 0.43%，深成指涨0.65%，创业板指涨1.07%。 国内 近日商务部网站公布了第一批全国零售业创新提升试点城市名单，确定第一批全国零售业创新提 升试点城市共38个，包括北京、上海、广州、深圳等城市，南京、苏州成功入选。 6月6日至9日，外贸优品中华行江苏站第三场省级活动、2025年江苏省老字号"三进三促"活动暨中 国（江苏）老字号博览会，在南京国际展览中心同时举办，吸引了全省各地近300家外贸企业和省 内外280余家老字号企业参展。 记者从睢宁县农业农村局获悉，6月7日，省农业技术推广总站组织专家对睢宁小麦进行实收测 产，凌城镇胜利村小麦单产提升丰产片典型田块平均亩产达806.2公斤。这是江苏稻茬小麦产量首 次突破800公斤/亩，刷新全省稻茬小麦单产纪录。 江苏 6月9日，又是一年赏荷季，时值初夏，云龙湖上的荷花竞相绽放 ...