消息面上，据上海电气官微消息，上海电气为国内高端装备制造龙头，核电设备"十四五"期间累计综合 市占率居行业首位。在可控核聚变从科学可行性向工程可行性跨越的关键阶段，上海电气已深度嵌入国 家聚变工程链，并实现多项"从0到1"的突破。其中，上海电气为国家重大科技基础设施——聚变堆主机 关键系统综合研究设施(CRAFT)成功研制的全球最大TF线圈盒。其尺寸与性能均超越国际ITER项目同 类结构，彰显中国高端制造的极限能力。 上海电气（601727）(02727)早盘涨超5%，截至发稿，涨4.55%，报4.37港元，成交额1.26亿港元。 此外，在核聚变尚未商用的窗口期，上海电气同步推进第四代核能系统产业化，尤其在钍基熔盐堆 (TMSR)领域取得实质性进展。上海电气的独特优势在于其全面覆盖了包括钍基熔盐堆、钠冷快堆、高 温气冷堆等在内的所有四代核电技术路线。华泰证券最新研报指出，钍基熔盐堆有望在2030年前后实现 示范应用，上海电气凭借先发优势和完整制造能力，将成为该赛道核心受益者。 ...

智通财经APP获悉，上海电气(02727)早盘涨超5%，截至发稿，涨4.55%，报4.37港元，成交额1.26亿港 元。 消息面上，据上海电气官微消息，上海电气为国内高端装备制造龙头，核电设备"十四五"期间累计综合 市占率居行业首位。在可控核聚变从科学可行性向工程可行性跨越的关键阶段，上海电气已深度嵌入国 家聚变工程链，并实现多项"从0到1"的突破。其中，上海电气为国家重大科技基础设施——聚变堆主机 关键系统综合研究设施(CRAFT)成功研制的全球最大TF线圈盒。其尺寸与性能均超越国际ITER项目同 类结构，彰显中国高端制造的极限能力。 此外，在核聚变尚未商用的窗口期，上海电气同步推进第四代核能系统产业化，尤其在钍基熔盐堆 (TMSR)领域取得实质性进展。上海电气的独特优势在于其全面覆盖了包括钍基熔盐堆、钠冷快堆、高 温气冷堆等在内的所有四代核电技术路线。华泰证券最新研报指出，钍基熔盐堆有望在2030年前后实现 示范应用，上海电气凭借先发优势和完整制造能力，将成为该赛道核心受益者。 ...

每经AI快讯，1月7日早盘，可控核聚变概念震荡走高，中国一重、弘讯科技、中国核建涨停，王子新 材、国机重装、常辅股份、哈焊华通等跟涨。 （文章来源：每日经济新闻） ...

可控核聚变板块持续上扬，远东股份、弘讯科技涨停，中国核建、国机重装、王子新材、天力复合、保 变电气跟涨。 ...

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints - The stock index futures market continued to rise sharply on Tuesday, and the spring offensive in 2026 has started ahead of schedule. Investors are advised to stay positive, focus on the central bank's liquidity management, and be aware of the potential impact of the annual report performance announcements of listed companies near the end of January. There are potential structured opportunities in L3 autonomous driving, domestic computing power, and AI applications. [6][7] - The bond market may maintain a volatile pattern in the short term, and investors are recommended to adopt a high - selling and low - buying strategy with a light position. [10] - The precious metals sector strengthened in the Asian session today, but prices may be under short - term pressure due to the annual parameter adjustment of major commodity indices. Investors can look for buying opportunities on dips. [12] - The container shipping index showed a pattern of opening low and closing high, and the main contract is expected to remain volatile at a high level. Spot enterprises can hold long hedging positions, and there may be positive arbitrage opportunities between EC2604 and EC2608. [15][16] 3. Summary by Relevant Catalogs 3.1. Current News - Venezuelan President Maduro pleaded not guilty in a US court, and his vice - president was sworn in as the interim president. [2] - The Trump administration plans to meet with US oil company executives to discuss increasing Venezuela's oil production. [3] - Chinese President Xi Jinping met with South Korean President Yoon Suk - yeol, and the two countries signed 15 agreements. [3][4] - Trump mentioned the need for Greenland again, which triggered a backlash from many countries. [4] - The US manufacturing industry contracted for the 10th consecutive month in December, and the short - term recovery possibility is low. [4] - The People's Bank of China announced the liquidity injection of various tools in December, with net injections in some items and net withdrawals in others. [5] 3.2. Variety Views 3.2.1. Stock Index Futures - On Tuesday, the Shanghai Composite Index rose 1.50% and broke through the high of last year. The trading volume of the Shanghai and Shenzhen stock markets increased significantly. The underlying indices and futures contracts of stock index futures all rose. The non - silver finance, chemical, and non - ferrous sectors led the gains, and only the communication sector closed down. [6] - The overseas macro - environment is relatively friendly, and China's economy usually has a "good start" in the first quarter. The macro - policy will remain positive and loose at the end of the year and the beginning of the new year, which is conducive to the recovery of market risk appetite. [7] - There are potential opportunities in L3 autonomous driving, domestic computing power, AI applications, and other fields. The prices of lithium carbonate, precious metals, and non - ferrous metals futures will affect the related sectors. Attention should also be paid to controllable nuclear fusion and brain - computer interface. [7] 3.2.2. Treasury Bond Futures - On Tuesday, the central bank conducted 162 billion yuan of 7 - day reverse repurchase operations, with 312.5 billion yuan of reverse repurchases maturing, resulting in a net withdrawal of 296.3 billion yuan. The money market was loose. [10] - Affected by the lower - than - expected bond - buying scale in December announced by the central bank the previous day, treasury bond futures opened and moved lower, and TL2603 hit a new low. The strong performance of the equity market also suppressed the bond market. [10] - The bond market has been volatile recently due to the recovery of risk appetite and concerns about supply. The relaxation of the bond fund redemption fee rate and the extension of the transition period in the new regulations will help the bond market recover, but there is still supply pressure in the first quarter. There is still a possibility of a reserve requirement ratio cut in January. [10] 3.2.3. Precious Metals - In the Asian session today, the precious metals sector strengthened, with silver leading the gains. Gold, silver, platinum, and palladium rose 1.27%, 7.06%, 6.02%, and 5.16% respectively. [12] - Speculative funds mainly reduced their positions, except for silver. The unexpected delivery of the January Cmx silver futures and the low ratio of registered warehouse receipts ignited market sentiment, and the rapid decline of domestic inventory supported the price increase in the Asian session. [12] - Due to the annual parameter adjustment of major commodity indices, the prices of precious metals may be under short - term pressure, and investors are advised to look for buying opportunities on dips. [12] 3.2.4. Container Shipping Index - The container shipping index opened low and closed high on Tuesday. The price - holding efforts of shipping companies supported the index valuation, and the spread repair boosted the EC2604 contract. [15] - The spot market's booking situation in mid - and early January is good, and the shipping demand is relatively stable compared with December. The probability of shipping companies' successful price - holding is expected to increase. [16] - The short - term outlook for the main contract is high - level volatility. Spot enterprises can hold long hedging positions, and there may be positive arbitrage opportunities between EC2604 and EC2608. [16] 3.3. Future 24 - Hour Key Data - Tonight (17:30): UK December SPGI Services PMI Final Value, previous value 52.1, forecast value 52.1; (21:00): Germany December CPI Annual Rate Preliminary Value, previous value 2.3, forecast value 2. [17] - Tomorrow (21:15): US December ADP Employment Change, previous value - 32,000, forecast value 48,000; (23:00): US December ISM Non - manufacturing Index, previous value 52.6, forecast value 52.3; (23:00): US October Durable Goods Orders MoM Final Value, previous value - 2.2%, forecast value - 2.2%. [18]

Core Viewpoint - The core value of industrial power supply is increasingly highlighted against the backdrop of explosive growth in AI computing power and ongoing advancements in future energy technologies. The company, Jiangxi Liyuan Haina Technology Co., Ltd., has been deeply engaged in the industrial power supply sector for nearly two decades and is planning to go public on the Shenzhen Stock Exchange's Growth Enterprise Market [1]. Group 1: AI Computing Power Supply - The performance enhancement of AI computing servers relies heavily on the precision manufacturing of printed circuit boards (PCBs), with high-speed positive/negative pulse power supplies being critical for PCB manufacturing efficiency and accuracy. The company has successfully broken foreign monopolies in this high-end field, achieving over 50% market share in the Greater China region for high-performance AI computing center PCBs [2]. - The company's pulse power supply technology continues to iterate, providing essential support for higher performance PCB manufacturing and expanding market growth opportunities as the AI industry enters a rapid development phase [2]. Group 2: Controlled Nuclear Fusion - Controlled nuclear fusion is viewed as the ultimate solution to the energy crisis, with power systems being crucial for the stable operation of fusion devices. The company has strategically positioned itself in this "hard technology" sector and has established deep strategic partnerships with key domestic research institutions [3]. - The company's products have been delivered and are operational, providing critical power support for China's "artificial sun" project, demonstrating that its technology has reached an internationally advanced level [3]. Group 3: Diverse Technology Matrix - In addition to AI computing power supplies and controlled nuclear fusion, the company has developed a diverse technology matrix in AI-related special power supplies and industrial power supplies, enhancing high-end manufacturing and emerging industries [4]. - The company is accelerating the research and industrialization of high-voltage direct current power supplies to meet the green and reliable power demands of data centers, addressing the challenges posed by the surge in AI computing power [4]. Group 4: Industrial Power Supply Achievements - The company's high-frequency switch power supplies hold over 80% market share in the domestic lithium battery and high-precision electronic copper foil markets, marking a significant transition from reliance on foreign equipment to technological leadership [5]. - The company's differentiated light-storage system solutions address industry application pain points, achieving a 5% efficiency improvement over traditional AC power supply solutions, which is significant for energy-intensive enterprises [5]. Group 5: Future Outlook - The company will continue to implement an innovation-driven development strategy, responding to national "dual carbon" goals by upgrading products in its advantageous fields and increasing R&D investment to develop new technologies and products in various renewable energy sectors [6].

Core Insights - Dongsheng Fusion has completed several hundred million yuan in angel round financing, with notable investors including Sequoia China, IDG Capital, and Hillhouse Capital, indicating strong market interest and confidence in fusion technology [1][4][6] - The company is focused on developing a clean and safe D-3He fusion route, which is distinct from the mainstream D-T approach, aiming for a more sustainable energy solution [2][3] Company Overview - Dongsheng Fusion was established in July 2025, backed by Fudan University and several investment entities, with a core team experienced in magnetic confinement fusion research [2][5] - The company is led by Professor Xu Min from Fudan University, who emphasizes the collaborative nature of fusion research and the importance of achieving practical energy solutions for humanity [4][10] Technology and Development - The first generation experimental device, "Morning Light," has been officially launched, with plans to achieve net energy gain (Q>1) in three phases over the next 12 years [3][9] - Key technological advancements include high-temperature superconducting magnets for improved plasma stability and AI-driven plasma control for optimized operation [2][10] Industry Context - Shanghai is positioning itself as a hub for fusion energy, with multiple companies and research teams emerging in the sector, supported by government initiatives and significant investment [5][8][9] - The Chinese government has recognized fusion energy as a critical area for future economic growth, integrating it into national development plans [8][10] Investment Landscape - A variety of venture capital firms and state-owned enterprises are investing heavily in fusion technology, indicating a competitive landscape for innovation and development in this field [6][7][10] - The rapid growth of fusion startups in Shanghai reflects a broader trend of increasing interest and investment in clean energy technologies [7][10]

Group 1 - The core viewpoint of the article highlights that Zhongtai Co., Ltd. (300435) has made significant breakthroughs across its product lines and is actively exploring new areas in deep cooling technology, such as commercial aerospace, controllable nuclear fusion, and liquid cooling [1]

核聚变爆红 。 作者/周佳丽 报道/投资界PEdaily 2 0 2 6开年，依然很燃。 投资界获悉，东昇聚变（上海）技术有限公司（简称"东昇聚变"）已完成数亿元天使轮 融资，红杉中国、IDG资本、中科创星、高瓴、鼎晖百孚、龙芯创投等联手入局。如此 豪华阵容在以往天使轮中并不多见。 东昇聚变，一支来自上海杨浦的队伍，由复旦科创、上海市未来产业基金、海桐国际创 新中心、中科创星、启盈同创共同孵化。复旦大学现代物理研究所许敏教授带队，团队 已启动第一代科学实验装置"晨光"项目，旨在推动氘-氦3聚变走向工程实现。 业 内 流 传 着 一 句 话 ： AI 的 尽 头 是 能 源 ， 能 源 的 尽 头 是 可 控 核 聚 变 。 在 这 场 攸 关 人 类 未 来能源命运的赛跑中，上海又一次冲在了前头。 超级天使轮 红杉IDG高瓴 鼎晖 都投了 东昇聚变有何来头？ 我们从复旦大学磁约束聚变团队说起。这是一支由复旦大学现代物理研究所核科学与技 术 系 教 授 许 敏 带 队 ， 聚 焦 高 温 强 磁 场 磁 约 束 聚 变 和 人 工 智 能 驱 动 的 聚 变 物 理 研 究 的 队 伍，致力于推动核聚变能源的工 ...

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