Core Viewpoint - The nuclear fusion energy industry is experiencing rapid growth driven by national strategic planning, research breakthroughs, and capital investment, positioning it as a key pathway for addressing energy crises and climate change [2][6]. Group 1: Industry Development and Strategic Importance - Nuclear fusion is recognized for its high energy density, abundant raw materials, low radioactive pollution, and inherent safety, making it a crucial avenue for reshaping global energy supply and ensuring national energy security [2]. - China has established a "three-step" development strategy for nuclear energy since the 1980s, transitioning from scientific research to engineering and commercial applications [2][5]. - The "14th Five-Year Plan" emphasizes future energy technologies, while the "15th Five-Year Plan" aims to strategically position nuclear fusion as a key industry, fostering a collaborative ecosystem among state-owned enterprises and private companies [3][5]. Group 2: Research and Technological Advancements - The global nuclear fusion development has entered a critical phase of engineering validation and commercialization, with over 160 fusion devices in operation, construction, or planning across 40 countries [5]. - China has made significant advancements with facilities like the "Chinese Circulation 1" (HL-1), "EAST," and the new "Chinese Circulation 3" (HL-3), achieving world records in plasma stability and temperature [7][9]. - The development landscape is characterized by a "race" among various technological approaches, including magnetic confinement and inertial confinement, indicating a shift from a single-path to a multi-route exploration [7][9]. Group 3: Investment Trends and Ecosystem - The nuclear fusion sector is attracting substantial investment, with private companies raising significant funds, such as XH Fusion's record A-round financing of 1 billion yuan [9][10]. - Since 2015, nearly 20 fusion energy innovation companies have been established in China, with 80% being private enterprises, collectively raising over 20 billion yuan [9]. - The investment landscape is marked by a collaboration between state-owned enterprises and private capital, creating a new model for funding and innovation in the nuclear fusion sector [10][11]. Group 4: Challenges and Future Outlook - Despite the enthusiasm, experts caution that the commercial viability of nuclear fusion is still in its infancy, with significant scientific and engineering challenges remaining before practical applications can be realized [12][13]. - Key challenges include achieving stable plasma combustion, developing high-temperature materials, and ensuring the economic feasibility of fusion reactors [12][13]. - The integration of emerging technologies like artificial intelligence is seen as a potential catalyst for accelerating the commercialization of fusion energy [14][15].

更多内容 扫码观看 点亮一盏电灯、驱动一台机器、激活一项技术……经济社会运行中，能源的身影无处不在。能源的发展 状况，影响着一个国家的发展走势。"十五五"规划建议提出，建设能源强国。能源强国首次出现在五年 规划里，意味着我国经济社会发展对能源的需求，已不仅是保障供应那么简单，更要通过能源技术、产 业链和系统能力的全面提升，增强国际竞争力，支撑经济社会可持续发展。 我们需要一个什么样的能源强国？怎么建设能源强国？从新能源规模扩张到化石能源清洁转型，从新型 电力系统搭建完善到新能源集成融合发展，从煤炭与新能源协同共生到氢能、核聚变能等未来产业前瞻 布局，一系列关键举措落地实施，将推动我国能源发展实现质的有效提升和量的合理增长，为社会主义 现代化强国建设注入强劲动力。 新型能源体系如何建 在能源强国这台"大戏"里，新型能源体系是主角。 建设能源强国，新能源是主力。过去一年，随着新能源占比越来越高，电力系统面临的挑战也在加大： 西部地区的绿电难送出，东部城市的绿电不够用，风光发电"看天吃饭"的波动性让电网承压，市场化竞 争力不足，这些"成长的烦恼"成为制约新能源高质量发展的瓶颈。 党的二十届四中全会提出，加快建设新型 ...

Core Viewpoint - The development of a strong energy nation is crucial for China's economic and social progress, emphasizing the need for comprehensive enhancement of energy technology, industrial chains, and system capabilities to boost international competitiveness and support sustainable development [1]. Group 1: New Energy System Construction - The new energy system is the main focus in building a strong energy nation, with a shift from top-level design to comprehensive construction during the "15th Five-Year Plan" period [2]. - The goal is to significantly increase the share of non-fossil energy, with plans to add over 200 million kilowatts of wind and solar power capacity annually by 2026 [2]. - The integration of various energy sources, including biomass, geothermal, and marine energy, will complement the new energy system [2]. Group 2: Clean and Efficient Use of Fossil Energy - The transition to cleaner and more flexible coal power is essential during the transition period, with coal power expected to act as a stabilizer for energy supply [3]. - By 2026, efforts will focus on upgrading coal power technology and promoting carbon capture and utilization in the oil and gas sector [3]. - The construction of a new power system will require the establishment of high-voltage lines and smart grids to ensure efficient energy distribution [3]. Group 3: Overcoming Bottlenecks in New Energy Development - China aims to lead global energy transformation, with a target of achieving six times the wind and solar power capacity by 2035 compared to 2020 levels [5]. - Challenges such as the inability to transmit green electricity from western regions to eastern cities and the volatility of renewable energy generation need to be addressed [6]. - The focus will shift from simple capacity expansion to system collaboration and value creation in new energy development [6]. Group 4: Coal Consumption Trends - Coal consumption in China has shown signs of decline, with a negative growth rate for the first time since 2017, but short-term demand is expected to remain resilient [9]. - The long-term trend indicates a gradual reduction in coal consumption, with a peak expected around 2027, after which a more significant decline is anticipated [10]. - The integration of coal and new energy is essential for the sustainable development of the coal industry, with initiatives to develop renewable energy in coal mining areas [11]. Group 5: Future Industry Development - The "15th Five-Year Plan" emphasizes the need to cultivate future industries such as hydrogen energy and nuclear fusion, which are critical for energy security and sustainable development [14]. - Hydrogen energy is seen as a key component of the future energy system, with efforts to support pilot projects and promote large-scale applications [15]. - Nuclear fusion is positioned as a long-term solution for energy challenges, with significant investments and research needed to overcome commercialization hurdles [16][17].

作为能源革命的终极方向之一，可控核聚变凭借燃料充足、清洁环保、能量密度高且安全性佳的核心优 势，始终是全球能源领域的研发焦点。 近日，由中国科学院电工研究所和物理研究所联合攻关研制而成的全超导用户磁体，成功实现了中心磁 场达到35.6特斯拉的最高磁场强度，这是目前全球该领域的最高纪录，标志我国在高温超导应用方面已 具有国际先进水平，将为物质科学、生命科学、核聚变研究等提供技术支撑。 技术利好不断，推动可控核聚变产业热度持续攀升，发展节奏显著加快。 从技术路线看，目前核聚变的主流技术路线是围绕磁约束和惯性约束展开的，磁约束是当前核聚变研发 中最成熟、最接近商业化的技术路线，其核心装置为托卡马克以及仿星器。 此前，国内聚变能源领域企业——能量奇点能源科技（上海）有限公司通过官微宣布，洪荒70高温超导 托卡马克取得新突破，在第5609次实验中成功实现了335秒稳态长脉冲等离子体运行，长脉冲运行能力 再上新台阶。 在此背景下，行业内上市公司依托自身优势加码布局这一领域，积极抢占产业发展先机。 中国能源建设股份有限公司表示，该公司连续四年通过"揭榜挂帅"形式开展可控核聚变技术研究，包括 热核聚变发电常规岛概念设计研究、 ...

绿水青山就是金山银山。十年来，长江经济带交出一份含绿量更高、含金量更足的清晰答卷—— 从42.2%到47.3%，足足5个百分点的增长，长江更美了，长江经济带的活力更足了。 十年来，从重庆到湖北武汉，从江苏南京到江西南昌，从"推动"到"深入推动""全面推动"，再到"进一 步推动"，习近平总书记4次主持召开以长江经济带发展为主题的座谈会，坚持共抓大保护、不搞大开 发，坚持生态优先、绿色发展，一以贯之。在发展中保护、在保护中发展，沿江而行，处处可见山水人 城和谐相融新画卷。 优良水质比例从67%提升到96.5%，与此同时，地区生产总值翻了一番多，占全国比重从42.2%提升到 47.3%。 "巴江上峡重复重，阳台碧峭十二峰。"重庆巫山，93%的地方都是岩溶地貌，长江水从这里出三峡，奔 向中下游。彭斌是土生土长的巫山县曲尺乡人，也是返乡创业的新农人。他和乡亲们一起，将房前屋后 零散的李树种出了规模。过去坡耕地，"下雨流黄汤，晴天一把刀"。如今，根系发达的果树牢牢抓住水 土，给荒坡披上了"绿毯"。一颗巫山脆李，还被制成了酒、糕点、面膜……裂变出"N倍价值"，品牌价 值超过105亿元。在彭斌眼里，满山的果树，固水土、能挣钱 ...

随着全球政策牵引、资本驱动和技术路径日趋清晰，可控核聚变商业化按下"加速键"，2026年更是被视 作可控核聚变元年。 近日在合肥举行的2026核聚变能科技与产业大会（简称"核聚变产业大会"），吸引了众多科研机构、重 点高校、金融机构、产业链上下游企业，不少上市公司也前往大会现场"秀肌肉"。证券时报记者采访获 悉，凭借前瞻布局、技术积累与资本运作，一批上市公司在超导材料、核心设备、工程总包等环节深度 参与可控核聚变重大项目，成为推动其产业化的重要力量。 与此同时，在可控核聚变投资热潮下，也有分析人士直言，并不是所有涌入这个赛道的企业都准备好 了"跑马拉松"。 商业化核聚变公司加速兴起 2026年1月16日，聚变金融机构联盟正式成立。证券时报记者了解到，该联盟由科大硅谷公司联合中科 创星、君联资本、联想之星、合肥创新投等15家机构联合发起，汇集130家优质金融投资机构及创新平 台，以创新策源、产业链接、金融支持、深度协同为核心逻辑，为核聚变能产业从科研突破迈向产业化 应用注入金融动力。 上市公司积极布局 在核聚变产业大会期间，大量企业携核聚变产品参展，展品覆盖材料、零部件、工程设备等全链条领 域，企业参与度远超预 ...

Core Insights - Nuclear fusion energy is transitioning from "science" to "energy," becoming a global competitive focus [2] - The 2026 Nuclear Fusion Energy Technology and Industry Conference was held in Hefei, showcasing significant industry achievements and fostering collaboration [3] Industry Developments - The conference featured over 1,500 professionals from academia, research institutions, and industry, exceeding expectations and highlighting the industry's growth [3] - Key highlights included the establishment of a comprehensive platform for fusion science and engineering, aiming to cover various fields within nuclear fusion energy [3] - The conference announced the 2025 Hefei Fusion Top Ten Innovations, including the "artificial sun" EAST achieving a world record of "100 million degrees for 1,000 seconds" [3] Financial and Investment Trends - A 1 billion yuan investment fund for future fusion energy was launched, with 15 financial institutions forming a fusion finance alliance [4] - Major procurement projects were signed, with companies like Antai Technology securing significant contracts [4] - The global nuclear fusion industry is experiencing rapid investment growth, with total financing reaching $9.766 billion in 2025, an increase of $2.643 billion from 2024 [5] Project and Technology Innovations - The conference included a project roadshow featuring 13 companies from various regions, focusing on key technologies and components in the nuclear fusion supply chain [6] - Companies like Zhongke Terahertz are providing comprehensive solutions for fusion diagnostics, with market potential expected to reach hundreds of billions in the next decade [7] - The development of high-end materials for large scientific devices is anticipated to create cross-industry investment opportunities [7]

今日提示 ·国新办将于1月19日上午10时举行新闻发布会，介绍2025年国民经济运行情况。 ·第56届世界经济论坛年会（冬季达沃斯）将于1月19日至23日在瑞士达沃斯举行。 ·中国人民银行、国家金融监督管理总局1月17日联合发布通知称，商业用房（含"商住两用房"）购房贷 款最低首付款比例调整为不低于30%。 ·《衍生品交易监督管理办法（试行）》公开征求意见，鼓励利用衍生品市场从事套期保值等风险管理 活动，支持开发满足中长期资金风险管理需求的衍生品，依法限制过度投机行为。 ·中央广播电视总台2026年春节联欢晚会17日完成首次彩排，机器人将再度登上春晚舞台。 ·自1月19日起，投资者融资买入证券时的融资保证金最低比例从80%提高至100%。 ·延江股份1月19日复牌，拟购买甬强科技98.54%股权。 ·世茂能源1月19日复牌，终止筹划控制权变更。 ·锋龙股份1月19日复牌，核查工作已完成，公司股票自2025年12月25日至2026年1月13日连续12个交易 日涨停。 ·振石股份1月19日发行，代码780112，发行价11.18元，市盈率32.59倍，申购上限5.45万股，主营清洁能 源功能材料。 上证精选 ·1 ...

Core Insights - Nuclear fusion energy is transitioning from "science" to "energy," becoming a global competitive focus [2] - The 2026 Nuclear Fusion Energy Technology and Industry Conference held in Hefei, China, showcased significant industry achievements and fostered collaboration [3] Industry Developments - The conference featured over 1,500 professionals from academia, research institutions, and industry, exceeding expectations and highlighting the growing interest in nuclear fusion [3] - Key highlights included the establishment of a comprehensive platform for fusion science and engineering, aiming to cover various fields within nuclear fusion [3][4] - The conference announced the launch of a 1 billion yuan investment fund for future fusion energy projects, with 15 financial institutions forming a fusion finance alliance [4] Technological Achievements - The conference revealed the top ten innovative achievements in fusion technology for 2025, including the EAST project setting a world record and the initiation of the BEST project [4] - The Hefei University of Technology established a new Fusion Science and Engineering College during the conference [4] Investment Trends - The nuclear fusion sector is experiencing a surge in financing, with global cumulative funding reaching $9.766 billion in 2025, an increase of $2.643 billion from 2024 [6] - The establishment of 58 fusion device companies globally, with 14 based in China, indicates a 24% share in the global market [6] Project Opportunities - A project roadshow at the conference attracted significant interest, featuring 13 companies presenting various fusion-related projects [7] - The rapid growth of the nuclear fusion sector in China is highlighted by the increase in investment opportunities and the emergence of competitive companies in the supply chain [7] Market Potential - The market for fusion diagnostics is projected to reach a scale of hundreds of billions in the next decade, with applications extending beyond fusion energy to sectors like aerospace and medical devices [8]

Core Insights - The 2026 Nuclear Fusion Energy Technology and Industry Conference was held in Hefei, Anhui Province, showcasing the progress of nuclear fusion from laboratory research to industrial application, emphasizing China's role in global energy transition [1] Technological Breakthroughs - The EAST superconducting tokamak achieved over 1 billion degrees Celsius for 1066 seconds in steady-state high-confinement plasma operation, marking a significant milestone in fusion technology [2] - The BEST project has made notable advancements, including the completion of the first PF magnet and the operation of a superconducting linear plasma device, indicating a rapid acceleration in fusion device manufacturing [2][3] - The future of the BEST project will see an increase in the self-sufficiency rate of core components, with 100% proprietary rights for the CRAFT ion cyclotron heating system and the development of high-strength low-temperature steel CHSN01 [3] Industry Development - The nuclear fusion industry has evolved from a conceptual stage to a comprehensive ecosystem encompassing basic research and result commercialization [4] - Significant contracts were signed at the conference, including major procurement agreements for the BEST device, with planned procurement projects exceeding 120 items and a total budget of nearly 10 billion yuan for 2026 [4] - The establishment of the Fusion Financial Institutions Alliance, comprising 130 Chinese financial and investment entities, aims to integrate finance with the nuclear fusion industry, facilitating the transition from research breakthroughs to industrial applications [5] Global Collaboration - China is enhancing international cooperation in fusion research through initiatives like the global release of the BEST project research plan and the signing of the Hefei Fusion Declaration [7] - Multiple countries have expressed interest in participating in the CFETR (China Fusion Engineering Test Reactor) construction, indicating the formation of a global fusion cooperation network [7] - The next five years are expected to see an expansion in global fusion financing, attracting more capital into the sector [7] Ecosystem Development - Hefei has attracted over 60 companies related to the nuclear fusion industry, creating a complete innovation ecosystem from basic research to engineering validation [6] - The conference highlighted the establishment of a new ecosystem for collaborative development among technology, industry, and capital [8]