记者从2026核聚变能科技与产业大会了解到，可控核聚变正处于从实验室走向工程化、商业化的关键阶段，聚变能发展面临从"科学"到"能 源"的历史转折，有望在2030年前后看到"核聚变点亮的第一盏灯"。 可控核聚变就是模拟太阳的核聚变反应，在地球上造出安全、可控的"太阳"，或将为我们提供一种近乎无限、清洁且安全的"终极能源"。 "聚变商业化的核心，在于要找到兼具可行性与经济性的技术路径。"大会上，多位专家达成这一共识。 目前，中国聚变领域形成了"国家队引领、民企补位、多元协同"的独特格局。 以中国科学院合肥物质科学研究院的"东方超环"（EAST）和位于成都的中核集团"中国环流三号"为代表的先进托卡马克装置，构成科学前沿 探索的"主力军"。 正在建设中的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，致力于聚变关键技术研发与验证，为工程化落地提供核心支 撑；合肥紧凑型聚变能实验装置（BEST）作为下一代"人造太阳"的工程验证平台，力争在2030年实现发电演示。 合肥与兰州兰石攻关极端低温紧凑换热技术，中国一重则成功攻克超高温辐射材料等难题。聚变新能（安徽）有限公司总经理黄素贞说，通 过共建联合实验室等协同模式 ...

转自：新华社 新华财经合肥1月18日电 （记者吴慧珺）记者从2026核聚变能科技与产业大会了解到，可控核聚变正处于从实验室走向工程化、商业化的关键阶段，聚变能 发展面临从"科学"到"能源"的历史转折，有望在2030年前后看到"核聚变点亮的第一盏灯"。 可控核聚变就是模拟太阳的核聚变反应，在地球上造出安全、可控的"太阳"，或将为我们提供一种近乎无限、清洁且安全的"终极能源"。 "聚变商业化的核心，在于要找到兼具可行性与经济性的技术路径。"大会上，多位专家达成这一共识。 目前，中国聚变领域形成了"国家队引领、民企补位、多元协同"的独特格局。 正在建设中的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，致力于聚变关键技术研发与验证，为工程化落地提供核心支撑；合肥紧凑型聚 变能实验装置（BEST）作为下一代"人造太阳"的工程验证平台，力争在2030年实现发电演示。 与此同时，我国民营企业正成为聚变领域探索多元化技术路线的生力军。 星环聚能致力于用球形托卡马克和"多冲程"创新方案挑战聚变工程验证；星能玄光瞄准AI数据中心等特定场景供电需求；新奥集团正致力于推动更安全、更 清洁的聚变燃料研究…… 国泰海通证券电新 ...

记者从2026核聚变能科技与产业大会了解到，可控核聚变正处于从实验室走向工程化、商业化的关键阶 段，聚变能发展面临从"科学"到"能源"的历史转折，有望在2030年前后看到"核聚变点亮的第一盏灯"。 可控核聚变就是模拟太阳的核聚变反应，在地球上造出安全、可控的"太阳"，或将为我们提供一种近乎 无限、清洁且安全的"终极能源"。 "聚变商业化的核心，在于要找到兼具可行性与经济性的技术路径。"大会上，多位专家达成这一共识。 目前，中国聚变领域形成了"国家队引领、民企补位、多元协同"的独特格局。 以中国科学院合肥物质科学研究院的"东方超环"（EAST）和位于成都的中核集团"中国环流三号"为代 表的先进托卡马克装置，构成科学前沿探索的"主力军"。 "这种跨主体、跨领域的协同模式，有效整合了科研资源与产业需求，大幅提升了工程化推进效率。"合 肥综合性国家科学中心能源研究院执行院长严建文表示，目前聚变装置多数核心部件国产化率显著提 升，为产业链自主可控奠定坚实基础。 正在建设中的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，致力于聚变关键技术研发 与验证，为工程化落地提供核心支撑；合肥紧凑型聚变能实验装置（BEST ...

Core Insights - Controlled nuclear fusion is transitioning from laboratory research to engineering and commercialization, with expectations to see the first operational fusion energy by around 2030 [1] - The core of fusion commercialization lies in finding a technically feasible and economically viable path [1] - China's fusion sector is characterized by a unique collaboration model involving state-owned enterprises, private companies, and diverse partnerships [1] Group 1: Technological Developments - Advanced Tokamak devices like the "EAST" and "China Fusion Engineering Test Reactor" are leading the scientific exploration in China [3] - The construction of key facilities for fusion technology research aims to provide essential support for engineering implementation [3] - The "BEST" facility is expected to demonstrate power generation by 2030, serving as a platform for the next generation of fusion energy [3] Group 2: Industry Collaboration - Private enterprises are emerging as key players in exploring diverse technological routes in the fusion sector [3] - Companies like Xinghuan Energy and Xin'ao Group are innovating in areas such as spherical Tokamaks and safer fusion fuels [3] - A collaborative model is effectively breaking through supply chain bottlenecks, enhancing engineering efficiency [7] Group 3: Talent Development - The establishment of specialized institutes and programs in universities is aimed at cultivating a diverse talent pool for the fusion industry [8] - Initiatives like the "Xiyuan Fusion Innovation Fund" are designed to support young researchers in tackling core technologies [8] Group 4: Financial Support - The establishment of a fusion financial institution alliance aims to align financial services with industry needs [10] - A venture capital fund focused on fusion energy has been launched to provide necessary capital for industry growth [10] - The development of a tailored investment evaluation system is intended to support the unique characteristics of the fusion industry [10]

- 李文宾专注于成长风格，注重挖掘高质量成长型企业，并通过前瞻性行业配置和选股交易实现超额收益[1][2][3] - 李文宾的代表产品包括万家成长优选A和永赢科技驱动A，前者在其管理期间年化收益率为12.81%，后者年化收益率为88.09%[2][14][27][29] - 李文宾的投资理念包括三个核心问题：真成长还是假成长、成长空间、成长质量和确定性[12] - 李文宾在行业配置上具有较高的胜率，14个半年期中13期的前五大重仓行业包含当期全市场涨幅前30%的行业[35] - 李文宾在选股中偏好高质量成长企业，重仓股营收同比增速和ROE均值显著高于中证800成长指数[47][48][49][50][51] - 李文宾善于挖掘冷门黑马股，44%的重仓股在重仓起始时的持仓基金数量不超过50只[52][53][54][55] - 李文宾的左侧止盈策略有效规避了回调风险，75%的个股在调出重仓后下季度下跌[58][60][61] - 李文宾后市关注AI、创新药、可控核聚变和反内卷相关的周期性产业[62]

Core Viewpoint - The ambitious goal of achieving a market value of 100 trillion USD in 20 years is presented as a feasible target based on historical trends of tech giants like Microsoft, Apple, and Nvidia, which have seen significant increases in their valuations over time [2][17]. Group 1: Strategic Recommendations - The company should leverage its core technology of "high-speed digital motors + AI algorithms" to expand into various sectors beyond home appliances, including automotive and aerospace [3][5]. - It is advised to adopt strategies from industry leaders: Nvidia's hardware and ecosystem integration, Apple's seamless user experience, and Microsoft's open platform approach to create a robust business model [5][6]. - The company should focus on global expansion and localization, establishing direct retail experiences in key markets to enhance brand presence and adapt products to local needs [6]. Group 2: Roadmap to Growth - The first phase (2026-2030) aims to solidify the company's foundation with a target market value of 50 billion USD, emphasizing R&D investment and market leadership in existing product categories [7][8]. - The second phase (2031-2035) focuses on expanding the ecosystem, targeting a market value of 500 billion USD, with plans to enter the automotive sector and develop partnerships for technology sharing [10]. - The third phase (2036-2040) aims for a market value of 3 trillion USD, with the goal of establishing industry standards and leading in smart living and robotics [11]. - The final phase (2041-2046) envisions a market value of 100 trillion USD, emphasizing groundbreaking technologies and a shift towards subscription services and data monetization [12][13]. Group 3: Financial Strategy - The company needs to secure diverse funding sources, including self-funding, equity financing, and strategic investments, to support its ambitious growth plans without relying solely on public offerings [16].

| 公布日 | 投资方 | 交易金额 | 融资轮次 | | --- | --- | --- | --- | | 2026-01-15 | 鼎峰科创 | 数亿人民币 | 天使轮 | | | 中科创星 | | | | | 北极光创投 | | | | | 耀途资本 Glory Ventures | | | | | 广发信德 | | | | | 一曲 各本 | | | | 2025-05-12 | 海创新时代 | 未披露 | 出资设立 | | | 海桐台创 | | | 超磁新能（上海）科技有限公司（以下简称"超磁新能"）以"聚变元年"2025年为新起点，承载行业超前 布局与技术积淀，定位于可控核聚变核心部件提供商，专注于可控核聚变关键核心部件——高温超导强 场磁体系统的研发与制造，致力于推动聚变能源商业化进程。目前，超磁新能正在开发世界首个大尺寸 25特斯拉高温超导核聚变托卡马克磁体系统，这项世界级突破性技术有望使核聚变装置更加紧凑、高 效，大幅降低建设成本，为聚变能源商业化扫清关键障碍。 证券之星消息，根据天眼查APP于1月15日公布的信息整理，超磁新能（上海）科技有限公司天使轮融 资，融资额数亿人民币，参与投资的 ...

Group 1 - The World Top Scientists Summit will be held from February 1 to 3 in Dubai, featuring 71 leading scientists, including 39 Nobel laureates, 6 Turing Award winners, and 7 Wolf Prize winners, discussing the theme "Basic Science: Addressing Future Challenges for Humanity" [1][3] - The summit will focus on four key topics: the integration of artificial intelligence and basic science, the collaborative evolution of scientific progress and social development, global collaboration pathways for open science, and the future construction of scientific cooperation systems [3] - The 2026 World Government Summit is scheduled for February 3 to 5 in Dubai, with the theme "Shaping Future Governments," and it is expected to be the largest since its inception in 2013, with over 30 foreign heads of state and government leaders in attendance [3]

Core Viewpoint - The A-share "nuclear fusion" concept companies may face a long performance gap before commercial power generation is realized, despite recent funding and technological breakthroughs in the sector [4]. Group 1: Market Dynamics - On January 15, 2026, the implementation of the "Atomic Energy Law" encouraging controlled nuclear fusion coincided with a market style shift, leading investors to focus on the "controlled nuclear fusion" sector as a potential new market leader [2]. - Recent funding activities, such as Shanghai Xinghuan Fusion Technology's completion of a 1 billion yuan Series A financing, have set records for domestic private fusion companies, indicating strong investor interest [2][16]. - Several listed companies in the "nuclear fusion concept" category, including China First Heavy Industries and China Nuclear Engineering, experienced significant stock price increases, but many issued announcements clarifying that they currently have minimal related revenue [3][25]. Group 2: Technological Advancements - The nuclear fusion industry is seeing advancements in technology, with breakthroughs in high-temperature superconducting magnets, which are crucial for achieving the necessary magnetic field strength for fusion [11][18]. - The energy density of nuclear fusion is significantly higher than that of nuclear fission, with 1 gram of deuterium-tritium fusion fuel releasing energy equivalent to 11.2 tons of standard coal, making it a promising solution for future energy needs [9]. - The development of compact fusion reactors is being facilitated by high-temperature superconductors, which allow for smaller and more cost-effective designs compared to traditional fusion reactors [11]. Group 3: Challenges and Future Outlook - Despite optimism in the investment community, significant challenges remain, including material durability under extreme conditions, tritium supply issues, and the need for high-throughput neutron sources for testing new materials [20][21]. - The timeline for commercial nuclear fusion is projected to extend to around 2050, with various milestones set for experimental and demonstration reactors in the coming decades [24][28]. - The current market for nuclear fusion equipment is expected to grow significantly, with estimates suggesting an annual scale of 266 billion yuan by 2035, but achieving this will require overcoming substantial technical and operational hurdles [27].

Core Viewpoint - The implementation of the "Encouragement and Support for Controlled Nuclear Fusion" in the Atomic Energy Law of China is expected to drive investment and interest in the nuclear fusion sector, marking a potential shift in market focus from commercial aerospace and AI applications to nuclear fusion technology [2][3]. Investment and Market Dynamics - The A-share market experienced a style switch, with funds moving away from previously favored sectors like commercial aerospace and AI applications towards the "controlled nuclear fusion" sector, driven by recent positive industry news [2]. - Significant investments have been made in the nuclear fusion sector, including a record A-round financing of 1 billion yuan by Shanghai Xinghuan Fusion Technology Co., which indicates strong investor interest [2][14]. - Companies like China First Heavy Industries and China Nuclear Engineering have seen their stock prices surge, reflecting market enthusiasm for nuclear fusion concepts, despite these companies warning of limited current revenue from related projects [3][21]. Technological Advancements - The nuclear fusion industry is witnessing breakthroughs in technology, such as the successful excitation of high-temperature superconducting magnets to 20.8 Tesla, which is crucial for enhancing fusion power density [2][16]. - The development of high-temperature superconductors is making commercial nuclear fusion more feasible by allowing for smaller and more cost-effective fusion devices [9][10]. Energy Demand and Supply - The increasing demand for energy, particularly driven by AI and data centers, is creating a sense of urgency for alternative energy sources like nuclear fusion, which is seen as a potential solution to the looming energy supply challenges [4][5]. - The energy density of nuclear fusion is significantly higher than that of traditional fossil fuels and nuclear fission, making it an attractive option for future energy needs [6][12]. Market Projections - The global nuclear fusion equipment market is projected to reach an annual scale of 266 billion yuan by 2035, indicating substantial future market potential despite current challenges in achieving commercial viability [23]. - The timeline for achieving commercial nuclear fusion is optimistic, with expectations for experimental reactors by 2030 and commercial reactors by 2050 [25]. Challenges and Risks - Despite the optimism, significant challenges remain, including material durability under extreme conditions, tritium supply issues, and the need for advanced testing facilities to validate new materials [17][18][19]. - The current state of nuclear fusion technology is still in the experimental phase, and companies are facing a long path to commercial viability, with many listed companies clarifying that their current revenues from fusion-related activities are minimal [21][22].