转自：新华财经 新华财经北京12月2日电 四大证券报内容精华摘要如下： 中国证券报 •理财新势力亮相科创板打新 入场者为何仅为少数派 被称为"国产GPU第一股"的摩尔线程自启动新股申购以来，便持续吸引着市场目光。在这场由机构主导 的资本盛宴中，银行理财公司的身影尤为突出。宁银理财、兴银理财以A类投资者身份成功获配摩尔线 程股份，标志着银行理财权益投资迈出重要一步。事实上，这并非银行理财公司首次尝试IPO网下打 新。尽管业内将网下打新视为银行理财产品增厚收益的重要策略之一，但从实践情况来看，真正参与的 银行理财公司仍为少数。某城商行理财公司首席投资官表示："权益投资并非是银行理财公司的主菜。 若想参与新股申购并成功获配，需要公司拥有成熟的投研团队、专业的投研能力。" 2025年最后一个月的券商月度投资组合日前陆续出炉。数据显示，截至12月1日记者发稿时，券商已推 荐逾160只月度"金股"，中际旭创、美的集团、巨人网络、恒立液压等推荐频次居前。11月A股震荡调 整，券商11月"金股"不到三分之一在当月取得正收益，国联民生金股指数、华泰证券金股指数收益排名 靠前。12月1日，A股三大股指集体上涨迎来12月"开门红" ...

AI赋能 核力倍增 核技术应用产业智能化提速 ● 本报记者 刘杨 当规模数千亿元、年均增速超15%的核技术应用产业，与正迈向价值创造阶段的人工智能技术相遇，一 场关乎效率革命、精度突破与场景拓展的产业变革已然发生。 "人工智能+核技术应用已显露出倍增效应，为这一重要引擎赋能增效，有望推动其在国民经济各领域 实现更深层次的融合与突破。"国家原子能机构原副主任、中国核能行业协会特邀专家王毅韧表示。中 国证券报记者通过多方调研发现，昔日高精尖的小众领域，如今正借助AI技术的东风，打破行业边 界、突破技术瓶颈，在安检、食品检测、新能源等多个领域实现创新突破。 智慧安检革新民生体验 AI赋能下的核技术，正以更贴近民生的姿态，渗透到公共安全领域的核心场景。记者调研了解到，过 去传统安检模式效率偏低，旅客需频繁取出电子设备、液体等物品，既耗时又不便，而"AI+核技术"的 融合应用，正彻底改变这一现状。 同方威视为香港国际机场打造的智能保安检查系统，便是这一融合的典型样本。"我们整合了手提行李 CT及智能回框系统、托运行李CT检查系统、毫米波人体安检仪等全套设备，而AI算法则实现了这些设 备的高效协同与智能升级。"同方威视副 ...

Core Insights - The integration of AI and nuclear technology is driving a significant transformation in the nuclear technology application industry, which has a market size of several hundred billion yuan and an annual growth rate exceeding 15% [1] - AI is enhancing the efficiency and precision of nuclear technology applications across various sectors, including public safety, food safety, and new energy [1][5] Group 1: AI and Nuclear Technology in Public Safety - The combination of AI and nuclear technology is revolutionizing traditional security checks, improving efficiency and convenience for travelers [2] - The intelligent security system developed by Tongfang Weishi for Hong Kong International Airport exemplifies this integration, significantly increasing the throughput of security checks from 240 to 360 passengers per hour, a 50% efficiency improvement [2] - The new security solutions are expected to be fully implemented by 2026, allowing travelers to keep liquids and gels in their bags, thus simplifying the security process [2] Group 2: AI and Nuclear Technology in Food Safety - The fusion of AI and nuclear technology is addressing traditional challenges in food safety testing, particularly in non-destructive testing methods [3] - The durian quality CT detection system represents a significant advancement, achieving over 98% accuracy in quality grading, which is 40 times more accurate than manual inspections [3] Group 3: AI and Nuclear Technology in New Energy - In the new energy sector, Tongfang Weishi is utilizing industrial CT imaging technology combined with AI to create a quality assurance system for lithium batteries, capable of identifying micron-level defects [4] - This technology aims to reduce the risk of battery fires and has established partnerships with leading lithium battery manufacturers [4][5] Group 4: Market Expansion and Challenges - The new industrialization efforts in China are creating direct demand and broad market opportunities for nuclear technology applications, particularly in manufacturing upgrades and digital economy development [6] - Challenges such as insufficient industrialization and innovation capabilities, interdisciplinary collaboration issues, and talent shortages need to be addressed for future growth [6] - Key strategic directions include enhancing top-level planning, implementing regulatory frameworks, focusing on technological breakthroughs, and promoting open cooperation [6] Group 5: Key Companies in Nuclear Technology - Tongfang Co., Ltd. (600100) is a leader in security checks, providing solutions that integrate radiation imaging and AI for various applications [8] - China General Nuclear Power Corporation (000881) focuses on non-power nuclear technology applications, including industrial irradiation and medical accelerators [8] - China National Nuclear Corporation (01763.HK) specializes in medical isotopes and nuclear medical equipment, while China Nuclear Power (601985) operates multiple nuclear power plants [8]

中国经济网南宁12月1日讯(记者宋雅静)核技术应用产业是新质生产力的重要组成部分，是典型的战略性新兴产业。为进一步持续推进我国核技术应用现 代产业链建设，11月27日，第二届核技术应用产业链共链行动大会在广西南宁举行。会上发布我国首个《核技术应用产业链强链行动计划》以及《核技术 应用产业年鉴2025年卷》、2025核技术应用产业链供需清单、中核集团核医疗一体化解决方案等成果，标志着我国核技术应用产业进入以系统性强链行动 推动高质量跃升的新阶段。 本届大会由中核集团、中国同位素与辐射行业协会主办，国家电投集团、中国广核（003816）集团、中物院联合主办，以"核力共链智创未来"为主题，旨 在深入贯彻落实党中央、国务院关于推动产业链现代化、培育新质生产力战略部署，凝聚产业链合力，共创核技术应用高质量发展新格局，共同构建更紧 密、更强大的核技术应用产业生态圈。 国际原子能机构副总干事纳贾特莫克塔(Najat Mokhtar)以视频形式致辞。国家原子能机构秘书长黄平，生态环境部华南核与辐射安全监督站分党组成员、 副主任郑晓敏，广西壮族自治区人民政府副秘书长黄瀚，中国工程院院士胡石林，清华大学医学院首席研究员、药品监管 ...

Investment Rating - The industry rating is "Outperform the Market," indicating that the overall return of the industry is expected to exceed the market benchmark index by more than 5% over the next 6 months [15]. Core Insights - The U.S. Army has launched the Janus program, aimed at providing resilient and reliable energy to support defense facilities and critical missions through advanced nuclear energy solutions, with a target to operate advanced reactors by 2028 [4][6]. - The nuclear technology application industry is a significant part of new productive forces, with a projected direct economic output of 400 billion yuan by 2026, driven by advancements in various sectors such as medical treatment, agriculture, and food processing [5]. - Small Modular Reactors (SMRs) are seen as a key solution to meet the growing energy demands of artificial intelligence, with major tech companies focusing on tailored energy solutions for data centers [6]. Company Summaries - **Jingye Intelligent**: Collaborating with Zhejiang University to establish a micro-reactor/SMR technology R&D center, showcasing significant growth potential in the context of rising AI energy demands and energy transition [7]. - **Jia Electric**: The main helium fan is the only power device for the fourth-generation high-temperature gas-cooled reactor, with its subsidiary leading in nuclear pump products [7]. - **Guoguang Electric**: The company's filters and cladding systems are critical components for the ITER project [7]. - **Lanshi Heavy Industry**: Covers the entire nuclear energy supply chain from upstream nuclear fuel systems to downstream spent fuel processing [7]. - **Kexin Electromechanical**: Developed high-temperature gas-cooled reactor products and achieved import substitution for new fuel transport containers [7]. - **Hailu Heavy Industry**: Provides services for various reactor types, including third and fourth-generation reactors and fusion reactors (ITER) [7]. - **Jiangsu Shentong**: Secured over 90% of orders for nuclear-grade butterfly valves and nuclear-grade ball valves for new nuclear power projects in China [7].

坐落于杭州湾畔的秦山核电基地，犹如一座绿色的丰碑，见证着中国核电人四十余年的奋斗征程。这座承载着梦想与使命的清洁能源基地，不仅为长三角地 区持续输送电力，更以科技为笔，在绿水青山间描绘出能源革命的壮丽画卷。 此后，秦山二期、三期及方家山工程陆续建成，中国逐步掌握30万千瓦、60万千瓦、100万千瓦级核电技术，为自主三代核电技术"华龙一号"的发展奠定了 坚实基础。从"国之光荣"到走向世界的"国家名片"，秦山核电已安全运行30余年，实现了从核电技术引进、消化到再创新的跨越。从设备国产化替代到数字 化控制系统升级，从功率提升改造到核燃料自主研制，每一次突破都凝聚着智慧与汗水，既为长三角注入清洁动能，也构筑起核电与生态环境之间的安全屏 障。 秦山核电积极探索多能互补模式。厂区内光伏板与核电机组交相辉映，形成"核能+光伏"复合发电模式。该模式有效利用空间资源，每年额外产生绿电2500 万千瓦时，提升土地综合利用效率，增强能源供应韧性，为复合型清洁能源基地建设提供了有益实践。 为落实浙江省入海排污口整治要求，秦山核电积极参与"五水共治"。一厂、二厂净水厂采用先进工艺，实施污泥脱水系统技术改造，实现污泥减量与废水循 环利用 ...

Core Viewpoint - The stock of China General Nuclear Power Technology Co., Ltd. (CGN Tech) reached its daily limit up on November 25, 2025, with a closing price of 8.82 yuan, reflecting a 9.98% increase, driven by significant growth in its electronic accelerator business, capital injection into its medical sector, and improvements in governance structure [1][2]. Group 1: Business Performance - The company's core business includes accelerator manufacturing, with a notable 21% year-on-year increase in contract signings for electronic accelerators [2]. - Overseas sales of linear accelerators surged by 75%, indicating strong international demand [2]. - The gross margin for the new materials business increased by 1.5 percentage points, and the proportion of high-margin products rose by 1.7 percentage points [2]. Group 2: Financial and Governance Improvements - The controlling shareholder injected 500 million yuan into a medical technology company to support business development in the healthcare sector [2]. - Financial expenses decreased by 43.91% year-on-year, reflecting improved financial management [2]. - The company has optimized its governance structure by enhancing investor relations, insider information management, and compliance management, including the establishment of a chief legal advisor [2]. Group 3: Market Dynamics - Recent market interest in nuclear technology applications has positively influenced the stock performance of CGN Tech and similar companies, creating a sector-wide effect [2]. - There was a notable inflow of funds into CGN Tech's stock on the day it hit the limit up, contributing to the price surge [2].

Group 1 - The core message highlights the successful development of Russia's "Burevestnik" nuclear-powered cruise missile and "Poseidon" unmanned underwater vehicle, which are claimed to surpass all known missile systems in range and precision [2][3] - The "Burevestnik" missile features a unique small nuclear reactor that can be activated in seconds, while the "Poseidon" can operate at depths of up to 1,000 meters and is faster than modern surface vessels [2][3] - Both systems utilize advanced technologies that can be applied in various sectors, including small-scale nuclear energy, Arctic power plants, space exploration, and mining in remote areas [5] Group 2 - Russia's defense industry is reportedly making progress with the mass production of the "Zircon" medium-range missile and the upcoming testing of the "Sarmat" heavy intercontinental ballistic missile [5] - The U.S. lacks an effective missile defense system to intercept the "Burevestnik," necessitating a complete overhaul of its defense strategy to protect its territory [6] - The delivery of the "Patriot" air defense missile system from Germany to Ukraine enhances Ukraine's air defense capabilities, with a complete system costing over $1 billion [8]

Group 1: Company Overview - Wuxi Beta Pharmaceutical Technology Co., Ltd. announced the completion of a strategic financing round worth hundreds of millions of yuan on October 20, with funds primarily allocated for the development of a global leading C-14 industry chain and the "Zhulong" series of C-14 nuclear batteries [1] - Founded in November 2008 by Dr. Li Gang, Wuxi Beta is the first high-tech enterprise in China specializing in the development and application of C-14 isotope technology [6] - The company aims to become a leading enterprise in the C-14 field in China and an international leader in C-14 technology, focusing on a comprehensive C-14 industry chain [6][9] Group 2: Strategic Investment - Renowned entrepreneur Chen Zemin, founder of Sanquan Foods, has joined Wuxi Beta as a strategic investor and will serve as the honorary chairman and president [1][10] - Chen Zemin's investment represents his third entrepreneurial venture, emphasizing his commitment to advancing cutting-edge technology and contributing to national strategic security and industrial upgrades [10][14] Group 3: Technological Development - Wuxi Beta has developed a complete C-14 industry chain technology system, including irradiation target materials, separation and purification, C-14 source materials, and C-14 products [6][9] - The company has successfully achieved the domestic production of C-14 source materials in collaboration with the China Nuclear Power Research and Design Institute, breaking the reliance on imports [8][9] - The "Zhulong No. 1" C-14 nuclear battery prototype was launched in March 2025, marking a significant milestone in the company's technological advancements [10] Group 4: Future Prospects - Wuxi Beta is currently progressing with the development of the "Zhulong No. 2" C-14 nuclear battery, with successful cold tests and ongoing optimization of thermal testing processes [12] - The company has established a wholly-owned subsidiary to accelerate the iteration and industrialization of C-14 nuclear batteries, while also preparing for the necessary regulatory approvals and facility constructions [12][14]

Overview of Heavy Water Industry - Heavy water, also known as deuterium oxide, is a crucial raw material for deuterium gas production and deuterated solvents, widely used in various industries including pharmaceuticals, semiconductors, and nuclear reactors [1][3] - The report focuses on the global heavy water consumption market, covering both nuclear and non-nuclear applications, with a specific emphasis on the maintenance needs of pressurized heavy water reactors [1][3] Market Size and Growth - The global heavy water market was valued at approximately 119.42 million USD in 2020 and is projected to reach 278.37 million USD by 2024, reflecting a compound annual growth rate (CAGR) of 23.56% from 2020 to 2024 [7] - By 2031, the market is expected to grow to 449.60 million USD, with a CAGR of 6.93% from 2024 to 2031 [7] Regional Analysis - North America and Europe have historically dominated heavy water production due to early nuclear power initiatives and substantial infrastructure investments [9] - The Asia-Pacific region, particularly India, has emerged as a significant player, with the Heavy Water Board operating a large network of production facilities [9] Industry Characteristics - The heavy water industry is characterized by high strategic importance and technological intensity, with complex production processes that require advanced separation and purification technologies [11] - The industry is highly regulated, with production and trade subject to strict oversight by the International Atomic Energy Agency (IAEA) and national nuclear safety regulations [11] Favorable Factors for Development - The ongoing development of the nuclear energy sector, particularly the expansion of CANDU reactors, ensures stable and long-term demand for high-purity heavy water [12][13] - Rapid growth in non-nuclear high-end applications, such as pharmaceuticals and biotechnology, is driving increased demand for heavy water [12][13] Challenges and Barriers - High technical barriers and significant capital investment requirements pose challenges for new entrants in the heavy water market [15][18] - Strict international regulations and policies regarding nuclear materials can lead to supply chain disruptions and limit market expansion [15][18] Policy Analysis - Recent policies in China and other countries emphasize the development of medical isotopes and nuclear medicine, which may positively impact the heavy water market [20][21]