Core Viewpoint - China Fusion Energy Company, with a registered capital of 15 billion yuan, has been established to advance controlled nuclear fusion technology, seen as the ultimate energy solution [1][6]. Investment and Shareholding Structure - China National Nuclear Corporation (CNNC) holds 50.35% of China Fusion Energy Company, while China National Nuclear Power (6.65%) and Kunlun Capital (20%) are significant shareholders [1][2]. - The total investment amounts to approximately 1.149 billion yuan, with a share subscription price of 1.0019 yuan per registered capital [1][2]. Technology and Development Strategy - The company aims to commercialize fusion energy through a three-step strategy: pilot experimental reactors, demonstration reactors, and commercial reactors [4][6]. - The technology route will focus on magnetic confinement tokamak, with the goal of achieving commercial application of fusion energy [4][6]. Research and Development Background - The research team from the Southwest Institute of Physics, a key player in controlled nuclear fusion in China, is the source of the intellectual property contributed by CNNC [3][6]. - The "China Circulation No. 3" project has achieved significant milestones in fusion research, indicating progress towards engineering applications [3][8]. Policy and Market Context - The Chinese government has increased support for controlled nuclear fusion, recognizing it as a key area for low-carbon technology development [8]. - The establishment of China Fusion Energy Company aligns with national energy security and environmental protection goals, indicating high potential commercial value [6][8].

Group 1 - The core viewpoint of the news is the appointment of Shen Yanfeng as the chairman and party secretary of China National Nuclear Corporation (CNNC), marking him as the youngest chairman in the company's history [2][3] - Shen Yanfeng's career path reflects a typical "from grassroots to headquarters" progression, having started as a technical staff member and eventually becoming the general manager of Jiangsu Nuclear Power [3] - CNNC is a major state-owned enterprise with an asset scale of approximately 1.4 trillion yuan and employs around 180,000 staff, playing a crucial role in national defense and economic development [3] Group 2 - CNNC is the only full-industry chain nuclear enterprise in the Fortune Global 500 and plays a key role in the nuclear energy "three-step" strategy (thermal reactor - fast reactor - fusion reactor) [4] - The year 2025 is designated as the "Year of Pursuing Excellence" for CNNC, with a focus on accelerating the implementation of the nuclear energy strategy and enhancing the digital transformation for high-quality development [4][5] - Shen Yanfeng faces significant challenges, including the construction of 18 nuclear units and the strategic goal of building a clean energy system that integrates nuclear, water, wind, and solar energy [5]