Group 1 - The nuclear energy sector saw a strong performance at the close of trading, with companies like China Nuclear Technology and China General Nuclear Power reaching their daily limits [1] - The surge in nuclear energy stocks is linked to a significant rise in U.S. nuclear energy stocks the previous Friday, following President Trump's signing of executive orders aimed at reforming the U.S. nuclear industry [1] - U.S. nuclear stocks experienced substantial gains, with Lightbridge rising by 42.59% and NANO Nuclear increasing by over 30% [1] Group 2 - China Nuclear International experienced a notable intraday increase of over 180% in the Hong Kong market [1] - Other companies in the nuclear sector, such as China Nuclear Power and Hai Lu Heavy Industry, also saw gains following the trend [1] - The reforms in the U.S. include expanding the nuclear energy scale and shortening the approval process for nuclear power projects [1]

Group 1 - The stock of China General Nuclear Power Technology (中广核技) experienced a significant surge, reaching the daily limit increase in A-shares [1] - The trading volume exceeded 400 million yuan, indicating strong market interest and activity [1] - There were 450,000 buy orders, reflecting robust demand for the stock [1]

分析人士指出，A股核能概念股的走强，跟上周五美股核能概念股大涨有一定的关联。当天，美国总统特朗普 签署了一系列行政命令，推动美国核能产业改革，包括扩大美国核能规模、缩短核电项目审批周期等。随后， 美股核能概念股集体大涨，Lightbridge大涨42.59%，NANO Nuclear涨超30%。 投行H.C. Wainwright的分析师表示："我们显然看到整个核电行业正迎来强劲的发展顺风。"另有券商指出，特 朗普的上述新政，将进一步强化全球核电发展叙事蓝图，带动产业资本开支强度提升。作为核电燃料，天然铀 将显著受益此次远期核电需求预期增长。 集体大涨 核能概念股，持续活跃！ 今日，A股三大指数震荡调整，但个股表现依旧活跃，核能概念股盘中集体异动， 哈焊华通、保变电气、融发 核电等近20只相关个股涨停或涨超10%。而在港股市场上，中核国际盘中一度大涨超180%。 自5月初以来，A股核能概念股就持续上涨。其中，可控核聚变方向走势最为强劲， 该板块指数今日盘中再度 大涨超5%。5月以来，可控核聚变指数的累计涨幅已超过20%。 国际热核聚变实验堆（ITER）组织官网4月30日宣布，其已完成全球最大、最强的脉冲超导电 ...

港股中核国际午后涨超60% 机构分析天然铀长牛可期 金十数据5月26日讯，中核国际(02302.HK)午后持续走强涨超60%。消息面上，美国总统特朗普此前签 署4项行政命令推动美国核能产业改革，包括扩大美国核能规模、核能产业链、缩短核电项目审批周期 等。机构分析称，作为核电燃料，天然铀将显著受益此次远期核电需求预期增长，且天然铀供需偏紧格 局或将进一步强化，天然铀长牛可期。 ...

5月26日，A股早盘走势分化，沪指盘中翻红，截至9:39，沪指涨0.21%，深证成指跌0.06%，创业板指跌0.26%。 2、可控核聚变概念强势 可控核聚变概念延续强势，融发核电2连板，哈焊华通、久盛电气、保变电气、永鼎股份、雪人股份、天力复合等跟涨。 点评：消息面上，据央视新闻报道，当地时间23日，美国总统特朗普签署了一系列有关核能的行政命令，计划在2030年前启动10 座大型核电站建设，并在2050年前将美国核电产能翻四倍。中信证券认为，近年来海外可控核聚变发展提速，以美国企业为代表 的商业化聚变项目有望在2030前投入商用，倒逼国内产业加速推进。 盘面上，中科院系概念冲高，中国科传涨停；可控核聚变概念延续强势，融发核电2连板；移动支付概念活跃，远望谷涨停；下 跌方面，大消费继续弱势，医药、汽车、大金融等板块跌幅居前。 展望后市，申万宏源指出，维持A股二季度是中枢偏高的震荡市判断不变，短期市场小波段调整。 热门板块 1、中科院系概念活跃 中科院系概念活跃，中国科传涨停，森远股份、中科信息、中科星图、奥普光电、汉王科技等涨幅靠前。 点评：消息面上，海光信息公告称，公司与中科曙光正在筹划由海光信息通过向中科曙 ...

作为核能的"心脏"，铀矿不仅承载着从核武器到民用发电的双重使命，也在地缘政治与金融市场的双重 博弈中扮演着不可或缺的角色。 仍记得在2024年1月18日的文中笔者提到，对于本轮铀的周期究竟会冲向何种高度？是否会创下新的辉 煌？笔者满怀期待。 随着2025年的到来，铀的周期也开始进入了下半场的时段，伴随着澳洲时间5月24日特朗普签署了四项 特别行政命令，启动核能产业。 在当下"电力为王"的时代背景下，聚焦于核电复兴的浪潮，我们不得不把目光投向一种曾经在全球大宗 商品市场里鲜少被提及的"隐形巨头"——铀矿。 铀的ETF价格再度回到了前期的高点。 内政部长道格·伯格姆在签字仪式上直言："这是终结过度监管的里程碑。" 与此同时，美国能源部被授权在军事基地和联邦土地上建设核设施，甚至可能绕过NRC自建审批通 道。 政策公布当日，美国相关ETF——Global X铀能ETF（URA）5月23日当日上涨11.61%，多家美国核能及 燃料公司股价暴涨，如NANO Nuclear +30%、Uranium Energy +25%、Centrus Energy +21%、Energy Fuels +20%、卡梅科（Cameco） ...

Company - Haiguang Information and Zhongke Shuguang are planning a stock swap merger, which will optimize the industry layout from chips to software and systems [2] - Zhongke Shuguang's stock will be suspended from trading starting May 26 due to the merger announcement [2][13] - Haiguang Information will issue A-shares to all A-share shareholders of Zhongke Shuguang as part of the merger [2] Industry - Nvidia is set to launch a new AI chip for the Chinese market based on the Blackwell architecture, expected to start mass production as early as June [3] - The new AI chip will be priced significantly lower than the previous H20 chip, marking Nvidia's third release of a downgraded chip that complies with U.S. regulations for China [3] - The State Council of China has approved a green low-carbon development action plan for the manufacturing industry for 2025-2027, aiming to promote deep green transformation of traditional industries [4] - The plan includes measures to enhance ecological protection compensation mechanisms and accelerate the green transformation of key industries [4]

Core Points - The U.S. government has signed four executive orders aimed at revitalizing the nuclear energy sector, focusing on advanced small modular reactors to meet the growing electricity demands of artificial intelligence and other emerging industries [1][2][4] - The reforms intend to streamline the approval process for nuclear reactors, with a goal of increasing nuclear power output fourfold over the next 25 years [2][5] - The nuclear industry faces significant challenges, including high costs and lengthy construction times for new plants, as well as a shrinking domestic nuclear fuel cycle infrastructure [5][9] Group 1: Executive Orders and Objectives - The four executive orders focus on deploying advanced nuclear reactor technology for national security and AI applications, reforming the Nuclear Regulatory Commission (NRC), and revitalizing the nuclear industrial base [2][4] - The NRC is required to make final decisions on reactor license applications within 18 months, addressing the lengthy approval process that has hindered the industry [4][8] - The U.S. aims to increase its nuclear power capacity significantly, as it has lagged behind other countries in new reactor installations [5][6] Group 2: Industry Challenges - The nuclear sector is experiencing a decline in new reactor designs, with 87% of globally installed reactors since 2017 based on foreign designs [5] - The U.S. nuclear industry has seen 16 reactors shut down since the 1990s due to competition from natural gas and renewable energy sources [5] - The construction of new reactors, such as the Vogtle plant in Georgia, has faced significant delays and cost overruns, highlighting the industry's operational challenges [9] Group 3: Future Outlook and Concerns - There is skepticism regarding whether the executive orders will effectively revitalize the nuclear industry, as initial reactors may still be prohibitively expensive and require government support [8] - The U.S. remains heavily reliant on foreign sources for enriched uranium, with ongoing geopolitical tensions complicating domestic production efforts [8] - Concerns have been raised about the potential compromise of safety standards due to pressure from the administration, which could jeopardize the future of the nuclear industry [8]

【 机构观点综评 】 方正证券指出，展望后市，小微盘占优行情特征或将延续。博时基金认为，存款 挂牌利率下移，汇率约束的缓解，货币市场以及短端利率补降可能会延续。 一、焦点锐评 1．LPR迎来年内首降，六大行同步调降存款利率 二、权益市场 1.中信证券：特朗普政策不确定性仍是大类资产配置主线 中信证券明明认为，大类资产配置方面，特朗普政策不确定性仍然是大类资产配置的主线，未来需要关 注外贸政策缓和或焦点转向内政的可能性。而在目前特朗普影响市场的模式中，"特朗普看跌期权"仍然 生效。在今年底至明年初之前，美债或为4%~5%区间震荡行情；黄金仍然是最具确定性的资产；特朗 普影响下美股的胜率仍然偏低；美元或偏弱震荡。但若特朗普政策焦点转向内部，美股和美债的拐点可 能提前到来。 2.方正证券：小微盘占优行情特征或延续 方正证券指出，展望后市，小微盘占优行情特征或将延续，主要判断依据包括：一是当前资本市场无系 统性风险，整体上A股风险偏好在不断回升。二是工业品价格持续收缩、上市公司盈利仍在筑底，经济 转型探索新方向过程仍在延续。三是流动性持续宽裕，无风险利率处于历史低位。四是新质生产力持续 发展，并购重组进一步释放市场活 ...

每周一景： 云南玉龙雪山 点击右上角菜单，收听朗读版 【 宏观】出口反弹，内需分化 上周高频数据显示，消费方面冷热不均，其中汽车销售仍较强。 投资方面，基建投资加速发力，地产销售 边际改善但土地市场低迷。进出口加速反弹，海外需求韧性犹存，关税缓和期港口数据和出口运价快速回 升，或因前期积压库存集中出货和抢出口。生产呈现行业分化的趋势，光伏生产指数回升，钢铁、石化等 部分行业开工率回落。库存方面，煤炭库存高位回落，钢材加速去库。物价表现一般， CPI 和 PPI 相关 高频指标大多下行。流动性方面，美元指数大幅回落，人民币持续升值。 风险提示： 贸易局势不确定性 。 >>以上内容节选自国泰海通证券已经发布的研究报告 ： 出口反弹，内需分化 ，具体分析内容（包括风险提示等） 请详见完 整版报告。 【 海外策略】贸易摩擦缓和期资产价格如何走 2018-19 年中美贸易摩擦共历时近两年，期间经历四次缓和窗口期。 具体包括： 2018 年 5 月华盛顿 会谈后双方发布联合声明、 2018 年 12 月阿根廷 G20 峰会双方元首会晤、 2019 年 6 月大阪 G20 峰 会后的谈判重启、 2019 年 10 月华盛顿 ...