核设施安全监管司核设备处（1 0000 6） 生态环境部（国家核安全局）日前发布公示，对江南造船（集团）有限责任公司等4家单位民用核安全设备许可证取证申请进行了审 查，拟批准江南造船（集团）有限责任公司等4家单位民用核安全设备许可证取证申请。4家单位分别是江南造船（集团）有限责任公 司（取证）、无锡宏达重工股份有限公司（取证）、中冶南方邯郸武彭炉衬新材料有限公司（取证）、中船双瑞（洛阳）特种装备股 份有限公司（取证）。 以下为原文 生态环境部（国家核安全局）关于江南造船（集团）有限责任公司等4家单位民用核安全设备许可证审批情况的公示 根据《民用核安全设备监督管理条例》及其配套规章的有关规定，我局对江南造船（集团）有限责任公司等4家单位民用核安全设备许 可证取证申请进行了审查，拟批准江南造船（集团）有限责任公司等4家单位民用核安全设备许可证取证申请。为体现公平、公开、公 正的原则，现将上述单位许可证信息进行公示（ 见附件 ）。 一、公示日期：2026年1月9日—20 26年1月15日 二、联系电话：010—65 64 605 2 三、通讯地址：北京市东城区东安门大街82号生态环境部 来源：生态环境部网站 End ...

中泰股份20%涨停，中国核建、雪人集团、安泰科技、合锻智能等涨停，哈焊华通、常辅股份、西部超 导等多股涨逾10%。 1月12日，可控核聚变概念股午后拉升，截至发稿，板块指数涨超4%。 | 代码 名称 | | 涨幅号 | 总金额 | 总市值 | 现价 | | --- | --- | --- | --- | --- | --- | | a20576 | 天力复合 | +28.20% | 12.19 Z | 134.1 乙 | 122.83 | | 300435 | 中泰股份 | +20.02% | 14.49 Z | 121.9 Z | 31.60 | | 688102 斯瑞新材 | | +19.95% | 30.047 | 435.1 乙 | 56.15 | | 688776 | 国光电气 | +17.81% | 11.96 Z | 149.4 乙 | 137.88 | | 688122 | 内部起导 | +16.73% | 66.02 Z | 704.9 Z | 108.38 | | 301522 | 上大股份 | +14.77% | 18.41 / | 184.9 Z | 49.73 | | 301137 ...

Investment Rating - The report indicates a cautious optimism regarding the oil market, with expectations that demand growth will exceed non-OPEC supply growth post-2027, suggesting a potential bottom for oil prices this year [1][4]. Core Insights - The oil market outlook has improved slightly, with investors showing a more favorable view on oil, while maintaining a cautious stance on natural gas [3][4]. - The natural gas market faces challenges due to an influx of liquefied natural gas (LNG) supply, with significant pressure anticipated from 2027 to 2029 [1][12]. - The overall activity level in the U.S. onshore oil and gas sector is expected to remain stable in 2026, with WTI crude oil prices potentially stabilizing around $40 per barrel [7]. - Canadian energy companies are gaining attention, with reduced selling pressure on Canadian oil stocks, particularly Suncor Energy, despite recent volatility due to geopolitical factors [9][10]. Summary by Sections Oil Market - Investors are slightly more optimistic about the oil market, with expectations of demand growth surpassing non-OPEC supply growth after 2027 [1][4]. - ConocoPhillips and Chevron are highlighted as companies to watch, particularly in relation to the evolving situation in Venezuela [5]. Natural Gas Market - The U.S. natural gas production is expected to grow at over 3%, but the LNG market is facing significant supply challenges [1][12]. - The report emphasizes a cautious outlook for natural gas, with a focus on the potential impacts of supply influx on pricing [12]. U.S. Onshore Oil and Gas Activity - The report anticipates that overall activity levels in the U.S. onshore oil and gas sector will remain stable in 2026, with no significant adjustments expected [7]. - The report notes that if WTI prices drop to the $40 range, the industry activity is likely to remain relatively stable [7]. Canadian Energy Sector - Canadian oil stocks are experiencing reduced selling pressure, with Suncor Energy being a notable player despite recent challenges [9][10]. - The report highlights the importance of Canadian companies in the global energy landscape, particularly in terms of technological innovation and sustainability [8]. Refining Industry - The global refining capacity is expected to grow at a slower pace than refined oil demand, leading to a structurally tighter market [22]. - The report suggests that the refining sector will perform well in the next 6 to 12 months, although it may face consolidation pressures [22].

Market News - China will release December import and export data on January 14, with exports expected to grow by 3.0% year-on-year, down from 5.9% in November, while imports are anticipated to decline by 2.9% [3] - The trade balance for December 2025 will also be published on January 14, with total goods trade from January to November 2025 reaching 41.21 trillion yuan, a year-on-year increase of 3.6% [3] Commodity Futures - The Shanghai Futures Exchange will adjust the price limit for platinum and palladium futures contracts to 16% starting from January 13, 2026, with the trading margin standard set at 18% [4] Energy Outlook - The U.S. Energy Information Administration (EIA) will release its Short-Term Energy Outlook report on January 13, maintaining the WTI crude oil price forecast for 2025 at slightly below $69 per barrel [5] U.S. Economic Data - The U.S. will release December CPI data on January 13, with core CPI expected to rebound significantly, predicted at 0.36% by Morgan Stanley and 0.38% by Bloomberg, both higher than the average of 0.08% in October and November [6] - Key economic indicators including October and November PPI and November retail sales will also be released, with expectations of moderate PPI growth and a 0.7% rebound in retail sales for November [6] Federal Reserve - The Federal Reserve will publish its latest Beige Book on January 14, indicating that government shutdowns and AI applications have weakened the job market, while rising tariffs and healthcare costs have increased business expenses [7] Earnings Season - The earnings season for Q4 2025 will commence this week, with major banks including JPMorgan, Citigroup, and Goldman Sachs set to report [8] Sector Events - The second China eVTOL Innovation Development Conference is scheduled for January 15-16, 2026, in Shanghai, focusing on the new commercial era of eVTOL [10] - The fourth Data Center Liquid Cooling & AI Chip Thermal Management Supply Chain Conference will be held on January 14-15, 2026, in Shenzhen [10] - China's first comprehensive law in the nuclear energy sector, the Atomic Energy Law, will take effect on January 15, 2026 [11] Individual Company News - Hangyu Technology announced on January 11 that it has repurchased 752,800 shares, with plans to sell them within six months [13] - Huadong Medicine's subsidiary has developed a breakthrough treatment for severe hypertriglyceridemia, which has been included in the list of breakthrough therapies by the National Medical Products Administration [13] - Jingfeng Mingyuan plans to acquire 100% of Sichuan Yichong Technology Co., with a key review meeting scheduled for January 16, 2026 [13] - TSMC has commenced research on its next-generation 1.4nm process, with risk trial production expected to start in 2027 [13] Lock-up Expiration - From January 12 to January 16, 2026, 23 companies will have lock-up shares released, totaling 2.434 billion shares with a market value of approximately 48.56 billion yuan [16] - The highest market value of lock-up shares released on January 12 is from Tianxin Pharmaceutical at 7.84 billion yuan [17] New Stock Calendar - Two new stocks are set to be issued this week, with a total issuance of approximately 34 million shares and expected fundraising of 1.909 billion yuan [19] Market Outlook - The current market enthusiasm is driven by concentrated inflows from previously cautious funds, with expectations for continued momentum in thematic and small-cap stocks until after the Two Sessions [22] - Guojin Securities suggests that the spring market is likely to perform well, with a focus on AI investments and the recovery of domestic manufacturing [23] - Everbright Securities anticipates sustained market heat but warns of potential cooling as the Lunar New Year approaches, recommending attention to sectors like electronics and power equipment [24]

Group 1 - Canadian Prime Minister will visit China from January 13 to 17 to discuss trade, energy, and security issues [1] - A new round of national procurement for high-value medical consumables will officially start, with bidding on January 13 [1] - The first basic law in China's nuclear energy sector, the Atomic Energy Law, will take effect on January 15 [1] Group 2 - The People's Bank of China will have 1,387 billion yuan of reverse repos maturing next week, with specific amounts maturing each day [1] - 23 stocks in the A-share market will face unlocks next week, with a total market value exceeding 48 billion yuan [1] - Two companies will begin subscription in the A-share market next week, with specific dates for each [1] Group 3 - Four companies will be listed in the Hong Kong stock market next week, with specific listing dates for each [1] - The second China eVTOL Innovation Development Conference is scheduled for January 15-16 in Shanghai [1] - The fifth AIGC China Developer Conference will be held on January 17 in Beijing [1] Group 4 - The Federal Reserve officials will make several public statements next week, including key figures from various regional banks [1] - The G7 finance ministers will meet on January 12 in Washington to discuss rare earth issues [1] - TSMC will release its fourth-quarter financial report before the US market opens on January 15, with expected revenue of approximately 1.011 trillion New Taiwan dollars [1]

重点关注： ·上证指数16连阳站上4100点，刷新逾十年新高。 ·上周机构调研，脑机接口、商业航天、AI应用为三大热门领域。 ·国际大宗价格结构性分化，贵金属与部分工业金属表现强劲，能源与农产品波动加剧，白银与钯金领 涨。 ·中国12月贸易数据即将发布。 · 第六批国家高价值耗材集采启动 。 01 宏观与金融 （一）回顾 1. CPI同比涨幅继续扩大 国家统计局1月9日发布的数据显示，2025年12月份，全国居民消费价格指数 （ CPI ） 环比上涨 0.2%，同比上涨0.8%；工业生产者出厂价格指数 （ PPI ） 环比上涨0.2%，同比下降1.9%。 2025年全年，CPI与上年持平；PPI下降2.6%。 国家统计局城市司首席统计师董莉娟分析，2025年12月份，扩内需促消费政策措施继续显效，居民 消费需求增加，CPI环比上涨0.2%，同比上涨0.8%，扣除食品和能源价格的核心CPI同比上涨 1.2%。 数据显示，2025年12月，CPI同比上涨0.8%，涨幅比上月扩大0.1个百分点，回升至2023年3月份 以来最高，同比涨幅扩大主要是食品价格涨幅扩大拉动。食品价格上涨1.1%，涨幅比上月扩大0.9 个百 ...

Core Viewpoint - The article highlights China's innovative approach to nuclear energy, specifically the successful development of a 2 MW liquid-fueled thorium molten salt experimental reactor, which marks a significant advancement in utilizing thorium as a nuclear fuel source, potentially enhancing energy independence and safety [1][2]. Group 1: Project Development - The thorium molten salt experimental reactor was established in Wuwei, Gansu Province, and is the only operational reactor of its kind globally, achieving thorium fuel utilization [1]. - The project faced significant challenges, including a lack of technology, conditions, and team at its inception, leading to a strategic approach of assembling a core team and leveraging collaborative innovation across various research fields [2]. - The reactor's site selection was complicated by public concerns following the Fukushima nuclear disaster, resulting in a lengthy search across multiple provinces before settling in Wuwei with support from the Chinese Academy of Sciences and the Gansu provincial government [2]. Group 2: Technical Challenges - The project encountered severe environmental and logistical challenges, including a harsh desert climate with limited resources, which required team members to adapt to difficult living conditions while working on the reactor [3]. - Technical hurdles included sourcing critical materials like nickel-based alloys and nuclear graphite, which were only produced by a few international companies at the time [3][4]. - A significant technical challenge arose during the summer of 2023 when a blockage occurred in the molten salt pipeline, requiring a dedicated effort from the team to resolve the issue over 100 days [4]. Group 3: Achievements and Future Goals - The experimental reactor achieved full power operation in June 2024 and completed the world's first thorium molten salt reactor with thorium fuel cycle research platform by October 2024, with over 90% of key equipment and materials now domestically produced [4]. - The project is part of a broader strategy to develop a three-step approach: from experimental to demonstration reactors, aiming for industrial application to enhance China's energy security and contribute to carbon neutrality goals [4].

Core Viewpoint - The article highlights China's innovative approach to nuclear energy, specifically the successful development of a 2 MW liquid-fueled thorium molten salt experimental reactor, which marks a significant advancement in utilizing thorium as a nuclear fuel source, potentially enhancing energy independence and safety [1][2]. Group 1: Project Development - The thorium molten salt experimental reactor was established in Wuwei, Gansu Province, overcoming initial challenges such as lack of technology, conditions, and team [2]. - The project faced significant delays in site selection due to public concerns following the Fukushima nuclear disaster, ultimately being located in a remote area with limited resources [2][3]. - The team adopted a strategy of collaboration and innovation, leveraging the strengths of the Chinese Academy of Sciences to build a capable workforce [2]. Group 2: Technical Challenges - The project encountered severe environmental and logistical challenges, including a lack of water and electricity, leading to team members living in difficult conditions for extended periods [3]. - Technical challenges included sourcing critical materials like nickel-based alloys and nuclear graphite, which were only produced by a few international companies at the time [3][4]. - A significant technical hurdle was overcome in the summer of 2023 when a blockage occurred in the molten salt pipeline, requiring intensive efforts from the team to resolve [4]. Group 3: Achievements and Future Goals - The experimental reactor achieved full power operation in June 2024 and became the first in the world to incorporate thorium into molten salt, establishing a unique research platform for thorium-uranium fuel cycles [4]. - The project has achieved over 90% localization of key equipment and materials, indicating a strong move towards self-sufficiency in nuclear technology [4]. - The next phase aims to achieve industrial application of the thorium molten salt technology, contributing to China's energy security and carbon neutrality goals [4].

Core Insights - Meta has announced agreements with three nuclear power suppliers, including one backed by OpenAI CEO Sam Altman, to support its artificial intelligence goals [1][3] - The collaboration aims to power Meta's Prometheus supercomputing cluster located in New Albany, Ohio, with an expected operational date in 2026 [3] Group 1: Agreements and Collaborations - Meta has partnered with Vistra, TerraPower, and Oklo to enhance power supply for its data center [3] - The agreements are projected to add approximately 6.6 gigawatts of power capacity by 2035, exceeding the total electricity demand of New Hampshire [3] - Meta will fund Vistra's nuclear plants in Ohio and Pennsylvania to extend their service life and increase generation capacity [3] Group 2: Market Impact - Following the announcement, Vistra's and Oklo's stock prices rose by 10% and 8% respectively, while Meta's stock increased by 1% [3] - The collaboration is expected to create thousands of construction jobs and hundreds of long-term operational positions [3] Group 3: Industry Context - Other major tech companies, including Amazon and Google, are also seeking to leverage nuclear energy for their AI projects, having committed to doubling global nuclear energy output by 2050 [4] - Meta has previously signed a 20-year agreement with Constellation Energy to purchase nuclear power starting in 2027 [4] - The agreement with TerraPower will fund two nuclear projects expected to begin generating power in 2032, with potential access to six additional projects by 2035 [4]

The nuclear company is benefiting from a large rally in the entire sector this week.Shares of NuScale Power (SMR +4.04%) popped over 25% this week, according to data from S&P Global Market Intelligence. All nuclear energy stocks have soared on the backs of a new commitment from Meta Platforms, although NuScale Power is not a part of its partnership. The stock has struggled in recent months but is up 100% in the last five years.Here's why NuScale Power stock was soaring this week, and whether it is a buy rig ...