Core Viewpoint - China Nuclear Engineering (601611.SH) is actively involved in nuclear fusion projects led by its controlling shareholder, China National Nuclear Corporation (CNNC) [1] Group 1 - The company is following a three-step strategy for nuclear energy development: Pressurized Water Reactor (PWR) - Fast Reactor - Fusion Reactor [1] - The company will collaborate with its controlling shareholder to implement this strategic plan [1]

Core Insights - China's nuclear power has entered the world's top tier with the mass production of the "Hualong One" reactor, accelerating the advancement of several cutting-edge nuclear technologies [1][3] - The development of fast reactors and controlled nuclear fusion is progressing rapidly, with fast reactors increasing natural uranium utilization by over 60 times [3][4] - The "Three-step" strategy for nuclear energy development in China includes thermal reactors, fast reactors, and fusion reactors, with "Hualong One" being the most widely used third-generation nuclear reactor globally [4] Group 1 - The "Hualong One" reactor is a significant achievement in China's nuclear power sector, marking its entry into the global forefront of nuclear energy [1] - The fast reactor technology, classified as a fourth-generation nuclear technology, is designed to enhance the utilization rate of natural uranium significantly [3] - The "China Fusion Engineering Test Reactor," known as "Chinese Circulation No. 3," has achieved critical temperature milestones, indicating progress towards practical applications of controlled nuclear fusion [3] Group 2 - China's nuclear energy development strategy is structured in three phases: thermal reactors, fast reactors, and fusion reactors, with a clear focus on advancing each stage [4] - The "Hualong One" is recognized as the most prevalent model among third-generation nuclear reactors currently in operation or under construction worldwide [4]