Market Performance - A-shares experienced a comprehensive rise after the "May Day" holiday, with the Shanghai Composite Index increasing by 1.13% to 3316.11 points, the Shenzhen Composite Index rising by 2.25%, and the ChiNext Index surging by 2.75% [1] - The total trading volume across A-shares reached 1.3644 trillion yuan, significantly higher than the 1.1931 trillion yuan recorded on the last trading day before the holiday [1] Sector Performance - Sectors such as controllable nuclear fusion, Huawei HarmonyOS concept stocks, superconductors, rare earths, precious metals, general equipment, and communication equipment showed relatively strong performance [1] - The banking sector was one of the few to experience a slight decline, while the tourism sector saw minor increases, indicating weaker performance compared to other sectors [1] Economic Indicators - During the holiday, 314 million domestic trips were made, representing a year-on-year increase of 6.4%, with total spending by domestic tourists reaching 180.269 billion yuan, up 8.0% year-on-year [1] - The April Caixin Services Purchasing Managers' Index (PMI) fell to 50.7 from 51.9 in March, below the expected 51.8, while the manufacturing PMI slightly improved to 50.4 from 51.2, exceeding the expected 49.8 [1] External Market Influences - The US stock market experienced a slight pullback after a series of gains, while the Hong Kong stock market saw minor increases upon reopening [2] - The offshore RMB exchange rate continued to show strength, fluctuating around 7.21, despite a slight decrease in the rate of appreciation [2] - The upcoming Federal Reserve meeting is anticipated to maintain current interest rates, with potential for rate cuts later in the year [2] Investment Outlook - The A-share market is expected to maintain a consolidation pattern, with sector focus likely revolving around tariff-related news [2] - There is a possibility of stronger fiscal or monetary policies from management, which could create investment opportunities in directly benefiting sectors [2] - Technology and consumer sectors are viewed as having more opportunities for investment this year, suggesting a strategic allocation towards these areas [2]

5月6日，五一后首个交易日，A股放量反弹，科技股全线走强，市场近5000只个股上涨。 截至收盘，上证指数收涨1.13%报3316.11点，深证成指涨1.84%报10082.34，创业板指涨1.97%报1986.41，北证50涨3.21%报1373.50。 全市场成交额13644亿元，较上日放量1714亿元，近5000只个股上涨。 可控核聚变概念股表现活跃，中洲特材、久盛电气、海陆重工、雪人股份、永鼎股份涨停。 银行股独自调整，苏州银行、渝农商行、重庆银行、江苏银行跌幅靠前。 稀土永磁概念股爆发 稀土永磁概念股今日集体爆发，盛和资源、广晟有色、天和磁材、华阳新材、京运通等多股涨停。 消息面上，自中国宣布对7类中重稀土相关物项实施出口管制后，稀土金属价格在数周内达到了创纪录的高位，截至5月1日，欧洲镝价已自4月初以来上涨两 倍，达到850美元/公斤；铽价从965美元/公斤上涨至3000美元/公斤，累计涨幅超210%。 鸿蒙、算力等概念股强势，银行股调整 板块题材上，金属新材料、可控核聚变、稀土永磁、脑机接口、鸿蒙概念股涨幅居前，银行板块跌幅居前。 盘面上，鸿蒙概念股表现强势，慧为智能、九联科技、天源迪科、狄耐克、 ...

Market Overview - On the first trading day of May, A-shares opened higher with all major indices rising over 1%, with the Shanghai Composite Index up 1.13% to 3316 points, Shenzhen Component Index up 1.84%, and ChiNext Index up 1.97% [1][2] - The total trading volume reached 1.36 trillion yuan, an increase of 171.4 billion yuan compared to the previous trading day, with nearly 5000 stocks rising and less than 400 declining [1] Sector Performance - The controllable nuclear fusion sector saw a significant surge, with multiple stocks hitting the daily limit, including Zhongzhou Special Materials and Jiusheng Electric [4][5] - Rare earth metal prices skyrocketed, with some prices more than doubling, leading to strong performance in the small metal and rare earth sectors [2][9] - Huawei's Hongmeng PC version is set to officially launch this month, boosting related stocks such as Tianyuan Dike, which rose by 20% [2][6] - The generator concept stocks also performed well, with Shenchi Machinery hitting the daily limit [2] Notable Stocks - Zhongzhou Special Materials rose by 20.01% to 18.17 yuan, Jiusheng Electric increased by 19.97% to 16.52 yuan, and Xin Hongye rose by 15.36% to 40.10 yuan [5] - Shenzhen Huachang surged to the daily limit, while Runhe Software and Youbuxun rose over 9% and 8% respectively, driven by Huawei's developments [6][7] - Airline stocks strengthened, with Huaxia Airlines up over 7% and China Eastern Airlines and China Southern Airlines both rising over 5% [8] Commodity and Gold Market - Gold stocks experienced a significant rise, with Laisentongling hitting the daily limit and Sichuan Gold rising over 7% [10][11] - International gold prices maintained an upward trend, with spot gold surpassing 3380 USD per ounce, driven by investor interest in safe-haven assets amid tariff concerns [12] Banking Sector - The banking sector showed weakness, with Suzhou Bank, Chongqing Bank, and Jiangsu Bank all declining over 2% [14][15] - Despite the overall market recovery, the banking stocks lagged behind other sectors [14] Future Outlook - The market is expected to maintain a volatile pattern in May, with a marginal improvement in risk appetite potentially leading to a shift towards growth sectors [16] - Key sectors to watch include electronics, machinery, computers, automotive, home appliances, agriculture, retail, beauty care, and social services [16]

盘面上，可控核聚变、稀土永磁板块涨幅居前，脑机接口、鸿蒙概念、CPO、算力板块活跃；银行股调 整。全市场近5000只个股上涨。 具体来看，机器人概念股反复活跃，九联科技、大叶股份、天源迪科、通达动力等多股封板。 可控核聚变概念集体走强，久盛电气、合锻智能、兰石重装、海陆重工等8股涨停。 【资金流向】 主力资金全天净流入计算机、电子、机械设备等板块，净流出银行板块。 盘面上，可控核聚变、稀土永磁板块涨幅居前，脑机接口、鸿蒙概念、CPO、算力板块活跃；银行股调 整。全市场近5000只个股上涨。 5月6日，A股三大指数全天震荡上行，沪指重返3300点。截至收盘，沪指涨1.13%，深证成指涨1.84%， 创业板指涨1.97%。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | 振幅 | | --- | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | STATE hum | 3316.11 | 37.08 | 1.13% | 0.90% | | 399001 | 深证成指 | { | 10082.34 | 182.51 | 1.84% | 1 ...

Core Viewpoint - The market experienced a strong opening after the holiday, with the ChiNext Index leading the gains and the Shanghai Composite Index closing above 3300 points, indicating positive market sentiment and robust trading activity [1][3]. Market Performance - The total trading volume in the Shanghai and Shenzhen markets reached 1.34 trillion, an increase of 166.8 billion compared to the previous trading day [1]. - The Shanghai Composite Index rose by 1.13%, the Shenzhen Component Index increased by 1.84%, and the ChiNext Index surged by 1.97% [3]. Sector Performance - Key sectors that saw significant gains included controlled nuclear fusion, rare earth permanent magnets, Hongmeng, and CPO, while a few sectors like banking experienced declines [2]. - The controlled nuclear fusion concept stocks collectively surged, with companies like Hailu Heavy Industry hitting the daily limit [1]. - Hongmeng and computing power concept stocks showed strong fluctuations, with over ten stocks, including Nantian Information, reaching the daily limit [1]. - Robotics concept stocks remained active, with multiple stocks such as Nanshan Zhishang also hitting the daily limit [1].

Summary of Controlled Nuclear Fusion Industry Conference Call Industry Overview - The controlled nuclear fusion industry is experiencing significant milestones, with projects like ITER completing the construction of core pulse superconducting magnet systems and China's Circulation No. 3 renovation project starting, with total investments reaching several hundred million [1][2][3] - Major economies including the US, UK, Japan, and the EU are accelerating the commercialization of controlled nuclear fusion, aiming for energy structure transformation and environmental protection [1][6] Key Developments - The EAST project in Hefei has started two months ahead of schedule and demonstrated power generation capabilities, marking a major breakthrough in making controlled nuclear fusion a reality [2] - The industry is transitioning from scientific validation to engineering validation, with various construction and design tenders being launched [3][18] - Significant contributions from China include advancements in superconducting tokamak technology by institutions like the Southwest Institute of Physics and the Chinese Academy of Sciences [5] Future Projections - Commercialization of controlled nuclear fusion is expected to begin after 2035 or 2040, with experimental pile construction and equipment tenders occurring beforehand [1][9] - 2025 is seen as a pivotal year for the industry, with projects like EAST and Spark entering construction and equipment phases, potentially attracting hundreds of billions in investments [3][16] Market Dynamics - The market for controlled nuclear fusion is projected to expand significantly due to increased experimental pile construction and equipment tenders, alongside advancements in AI and high-temperature superconducting materials [13][10] - The total investment for a single tokamak device is approximately $1.2 billion, with the market for superconducting technology potentially reaching $14.8 billion if high-temperature superconducting technology is utilized [14][15] Key Players and Components - Key components in the controlled nuclear fusion industry include magnet systems, filters, blanket systems, vacuum chambers, and vacuum dewars, with magnet systems accounting for a significant portion of costs [17] - Companies with high participation in the controlled nuclear fusion sector include Lianchuang Optoelectronics, Yongding Co., Yinlong Co., Jinda Co., and Guoguang Electric, all of which are involved in critical product segments [19] Investment Opportunities - The industry is forming a resonance effect, accelerating the industrialization process, with increased capital market attention and strategic investments from companies like PetroChina and Shanghai Future Energy [7][8] - The focus on core components and equipment manufacturing in the controlled nuclear fusion supply chain presents significant investment opportunities [17][19]

A股可控核聚变板块盘初拉升，合锻智能封板涨停，国光电气涨超9%，中洲特材、久盛电气、旭光电 子跟涨。 订阅A股市场资讯 +订阅 ...

Market Performance - A-shares showed slight rebound after a decline, with the Shanghai Composite Index down 0.05% to 3286.65 points [1] - Major indices such as the Shenzhen Composite Index rose by 0.24%, the ChiNext Index by 0.5%, and the North Star 50 Index by 1.23% [1] - Total trading volume in the A-share market was 10,418 billion, a decrease from 10,768 billion on the previous day [1] Sector Performance - Sectors such as PEEK materials, beauty care, chemical products, and humanoid robots saw significant gains [1] - Conversely, sectors like electricity, liquor, controllable nuclear fusion, and e-commerce experienced declines [1] Policy Developments - The National Development and Reform Commission, along with the Ministry of Commerce and the State Administration for Market Regulation, issued a notice on April 29 regarding the removal of market access barriers to promote a unified national market [1] - Progress in eliminating local protectionism could enhance productivity and positively impact the overall economy [1] External Market Influences - The US stock market showed mixed results with minor fluctuations, while Hong Kong stocks experienced a slight increase, with the Hang Seng Index up 0.16% and the Hang Seng Tech Index up 0.62% [1] - The US dollar experienced a slight decline but rebounded during the Asian and European trading sessions [2] - The offshore RMB exchange rate rose to around 7.26, indicating a strengthening trend over the past two weeks [2] Investor Sentiment - A-shares displayed a weak overall performance with decreasing trading volume, suggesting reduced bullish sentiment among investors [2] - The lack of significant positive news and the absence of increased fiscal stimulus have contributed to cautious investor behavior [2] - Concerns over potential fluctuations in US-China tariff relations may also hinder investor confidence [2]

转自：前瞻产业研究院 行业主要上市公司：安泰科技(000969.SZ)，中国广核(003816.SZ)，永鼎股份(600105.SH)，西部超导 (688122.SH)，上海电气(601727.SH)等 本文核心数据：可控核聚变行业投融资规模;代表性企业融资事件;兼并重组 1、近期国内可控核聚变行业投融资规模较小但增长较快 可控核聚变行业作为未来产业，据IT桔子统计，2015年及之前国内尚无融资事件，2016年，中科海奥B轮融 资开行业先河，2022-2024年行业投融资规模不大，但整体明显上涨，投资数量从2022年的2起增长至2024年 的6起;融资金额三年累计突破30亿元。2025年截至3月20日，我国可控核聚变行业融资数量已有2起，金额累 计已达17.6亿元。 2、可控核聚变领域单笔融资规模较高，投资轮次开始集中在早期天使轮 从单笔融资金额来看，除2024年平均规模较小外，近年来整体呈升高趋势，平均单笔融资金额达数亿元人民 币，反映出行业对资金需求较高。 从可控核聚变行业的投资轮次分析，该行业融资轮次近年来开始集中在早期阶段，种子轮和天使轮融资事件 合计占比近57.14%，A轮之后轮次的融资较少。根据前 ...

内容概要：可控核聚变是指通过人为技术手段，在特定装置内实现对核聚变反应的发生、约束和能量输 出的持续控制，从而安全、稳定地获取能量的过程。可控核聚变是一种可以改变人类社会的全新能源， 全球主要国家正在积极推动聚变能商业化发展。2024年全球核聚变投资71亿美元，同比增加9亿美元。 随着各国政府对聚变能源的兴趣增加，公私合作伙伴关系在可控核聚变行业变得越来越重要。2024年全 球公共资金对私营聚变公司的投资额增加到4.26亿美元。从企业数量上来看，2024年全球核聚变产业公 司共有45家，较2023年新增12家。可控核聚变作为未来能源的"圣杯"，在政策、技术和需求的多重驱动 下加速发展，行业正迎来快速发展的黄金时期。 相关企业：中国核工业集团、中核材料、久立新材、上海超导、联创超导、章源钨业、楚江新材、上海 众巍化学、东方钽业、白银有色、久立特材、广大特材、西部材料、大西洋、中洲特材、哈焊华通、斯 瑞新材 关键词：可控核聚变市场规模、可控核聚变市场竞争格局、可控核聚变产业链、可控核聚变投资规模、 可控核聚变公司数量、可控核聚变行业发展趋势 一、可控核聚变行业定义及分类 核聚变，又称核融合，是两个轻核在超高温和高 ...