在18日举行的美国物理学会等离子体物理分部年度会议上，美国聚变能源技术公司Zap Energy宣布，其 最新一代"聚变Z箍缩实验3"（FuZE-3）在实验中获得高达830兆帕的电子压力，对应等离子体总压力约 1.6吉帕。该成果刷新了迄今在剪切流稳定Z箍缩装置中实现的压力纪录，是迈向聚变能量增益道路上的 重要一步。 FuZE-3的设计目标是在"三重乘积"（密度×温度×约束时间）上达到新的高度，这是聚变性能的重要指 标。 此次，团队利用"光学汤姆孙散射"技术测得等离子体电子压力达830兆帕。等离子体不仅由电子组成， 还包含质量更大的离子，当电子和离子温度接近时，二者都会对压力作出贡献，因此总压力约为电子压 力的两倍，达到1.6吉帕。1吉帕相当于海平面大气压的约10000倍，或马里亚纳海沟海底压力的10倍。 相关高压状态可维持约1微秒（百万分之一秒）。 （文章来源：科技日报） 最近的FuZE-3实验中，多次重复放电测量显示，电子密度处于3×1024m-3—5×1024m-3范围，电子温度 则超过1keV（约为1167万摄氏度）。 实现可控核聚变需要在极短时间内获得高温高密度等离子体，其压力是综合反映温度与密度的关键 ...

Financing Overview - A total of 16 financing events occurred in Shanghai this week, with 9 disclosing amounts totaling approximately 1.969 billion yuan [4] - The number of financing events decreased by 6 compared to the previous week, which had 22 events [4] - The majority of financing events were concentrated in the Pudong New Area with 5 events, followed by Minhang District with 4 events [4] Financing Dynamics - The healthcare sector had the highest number of financing events this week, with 4 occurrences, while other industries had 1 or 2 events each [9] - The largest financing event was over 1 billion yuan in the new materials sector [9] Notable Financing Events - Yanchao Fusion completed a multi-hundred million yuan angel round financing, focusing on fusion energy technology development [12][13] - VOLANT completed a multi-hundred million yuan B round financing, aiming to enhance its position in the eVTOL market [14][15] - Zhiqu Technology secured over 100 million yuan in A+ round financing, providing electric drive systems for new energy vehicles [16][17] - Huadao Bio completed over 100 million yuan in D++ round financing, focusing on cell immunotherapy [18][19] - Qiongche Intelligent completed strategic financing from Alibaba Group, focusing on embodied intelligence robotics [20][21] Industry Focus - The healthcare sector is experiencing a transformation, with 4 financing events this week related to medical devices, consumables, and cell therapy [22] - Shanghai is enhancing its innovation ecosystem for the biopharmaceutical industry, supported by government initiatives to promote high-end medical device development [22]

Core Points - The second ministerial meeting of the World Fusion Energy Group opened in Chengdu, emphasizing international cooperation in the fusion energy sector [1] - A declaration was made to promote a new paradigm of international cooperation characterized by "innovation sharing + peaceful use + inclusive development" [1] Group 1: International Cooperation - The declaration focuses on international collaboration in fusion energy, advocating for the co-construction of fusion infrastructure [1] - It aims to enhance the interconnectivity of global fusion experimental devices, data centers, and testing platforms [1] - Countries are encouraged to establish transnational sharing mechanisms based on existing fusion energy research facilities to reduce R&D costs and improve resource utilization efficiency [1] Group 2: Technology Development - A proposal was made to establish a joint R&D network for fusion energy technology, covering key areas such as plasma physics, superconducting materials, and tritium self-sustainability [1] - The initiative aims to promote technological iteration through joint problem-solving, patent sharing, and collaborative talent training [1] - Emphasis is placed on providing technical training and capacity-building support to developing countries [1] Group 3: Peaceful Use of Fusion Energy - The declaration asserts that the research and application of fusion energy must fully serve civilian purposes [1] - It ensures that the entire chain of technology development, facility construction, and energy supply aligns with the goal of peaceful use [1] - The initiative aims to provide a safe and stable technological pathway for the global transition to clean energy [1] Group 4: Coordination Mechanism - The World Fusion Energy Group ministerial meeting is a coordination mechanism advocated by the International Atomic Energy Agency [1] - It aims to unite decision-makers, regulators, the scientific community, industry, and public-private partners to clear obstacles for the research, demonstration, and commercial deployment of controllable nuclear fusion [1]

Group 1 - The total economic output of Anhui Province has crossed two trillion thresholds, with GDP rising from 3.87 trillion yuan at the end of the 13th Five-Year Plan to an expected 5.06 trillion yuan in 2024, marking an increase of 1.4 trillion yuan over five years [1] - The number of high-tech enterprises in the province has increased by 1.7 times, and the number of specialized and innovative "little giant" enterprises has grown by 7.6 times compared to the end of the 13th Five-Year Plan [1] - Over 80% of R&D funding and technology projects, as well as over 90% of provincial industrial innovation research institutes, are led by enterprises [1] Group 2 - Anhui Province ranks first in both automobile and new energy vehicle production in China, and it also leads the nation in automobile exports [2] - The province holds the largest global market share in driver chips and ranks first in DRAM memory production capacity in China [2] - The development evaluation of the artificial intelligence industry in Anhui has risen to the fifth position nationwide [2] - Anhui is at the forefront of quantum technology industry concentration and is leading the commercialization process of fusion energy [2] - The low-altitude economy development level of Anhui is among the top in the country [2]

Core Insights - China Fusion Energy Company has made significant changes in its business registration, indicating a strategic adjustment focused on core business and long-term development [1] Financial Summary - The registered capital has increased from approximately 3.531 billion RMB to 15 billion RMB, representing a 325% increase, providing essential financial support for the company's operations [2] - This capital increase is expected to alleviate funding pressure on research and development activities, allowing the company to concentrate on core technology exploration and breakthroughs [2] Shareholder Structure - New shareholders, including China Petroleum Group Kunlun Capital Co., Ltd., China Nuclear Power, and Zhejiang Energy Power, have been added, enhancing the company's shareholder structure [3] - The inclusion of these energy sector shareholders is anticipated to provide resource support related to the energy industry, facilitating better alignment with industry needs and promoting technology development [3] Management Changes - Liu Ye has transitioned from a board member to chairman, with several key personnel added to the management team, reflecting the need for a more suitable management structure to coordinate various operations [3] - This management adjustment aims to ensure operational efficiency and support the planned advancement of various business initiatives [3] Industry Implications - The continued shareholding of China National Nuclear Corporation, along with the addition of leading energy companies, signals a growing interest and strategic positioning in the fusion energy sector [3] - This trend indicates that fusion energy-related businesses are gaining recognition among key industry players, potentially attracting more resources to the sector and fostering a positive environment for the development of fusion energy [3] Overall Assessment - The recent business registration changes at China Fusion Energy Company represent a coordinated optimization of capital, resources, and governance structure, injecting momentum into the company's development and supporting the advancement of clean energy technologies [4]

Core Insights - The "Wave Plan" launched by the research institute of Zhituo Finance aims to promote industrial collaboration and technological innovation in the Yangtze River Delta region [1] Industry Highlights - Hefei: Over 70 enterprises in the nuclear fusion energy industry cover the entire industrial chain [1] - Shanghai: Pudong's GOI has mobilized 8.6 billion capital over four years to empower 30,000 enterprises [1] - Nanjing: JD.com establishes a regional headquarters worth 10 billion in Jianye [1] - Hangzhou: Promoting the overseas expansion of "new three" cultural products including online literature, web dramas, and online games [1] - Suzhou: "AI + manufacturing" has nurtured 150 industrial large models over two years [1] - Ningbo: The value added of the intelligent photovoltaic industry chain in Yuyao increased by 133.7% in the first half of the year [1] - Wuxi: Deepening cooperation with FAW Liberation to build an automotive industry ecosystem [1] - Nantong: Delivered the world's largest FLNG device, NGUYA [1] - Changzhou: The riverside green transformation empowers the Eastern Carbon Valley and innovative pharmaceutical valley [1]

Group 1 - The core viewpoint emphasizes the importance of seizing the critical window for breakthroughs in fusion energy technology, advocating for technological innovation to lead industrial innovation and accelerate the engineering, industrialization, and commercialization of fusion energy [1][2] - The global fusion industry has seen significant investment growth, reaching $9.766 billion as of July 2023, an increase of over 414% since 2021, with major tech companies like Microsoft entering the field [2] - China has included nuclear fusion in its future industrial focus, with policies indicating a strong push towards research and application of controllable nuclear fusion technology [2][3] Group 2 - Anhui province aims to establish itself as a leading hub for quantum information, fusion energy, and deep space exploration, with over 70 companies in the fusion energy industry chain already present in Hefei [3][4] - Hefei is recognized as a comprehensive national science center, housing major scientific facilities like EAST and BEST, making it a focal point for global fusion research [2][3] - The province is actively working to create a cluster of fusion energy industries, focusing on integrating various resources and fostering innovation through deep collaboration among government, industry, academia, and finance [1][3]

Group 1 - The Ministry of Industry and Information Technology emphasizes the need for enhanced governance in key industries such as photovoltaic and new energy vehicles, aiming to eliminate outdated production capacity through standard upgrades [1] - The meeting focuses on deepening reforms and modernizing industry governance, which is expected to positively influence the long-term healthy development of the industry [1] Group 2 - China National Petroleum Corporation Capital, through its subsidiary Kunlun Capital, has acquired a 20% stake in both Fusion New Energy (Anhui) Co., Ltd. and China Fusion Energy Co., Ltd., indicating a strategic interest in the fusion energy sector [2] - The investment in fusion energy reflects a potential new avenue for capital deployment, supporting technological breakthroughs and the transformation of the energy structure [2] Group 3 - Guoneng Rixin has announced that the acquirer Yongzheng and its concerted party Ding Jiangwei plan to gain control of the company through a private placement, which has received approval from the shareholders' meeting and regulatory bodies [3] - The acquisition will result in the acquirer holding over 30% of Guoneng Rixin's equity, triggering a mandatory tender offer, but the acquirer has committed to not transferring the newly issued shares for three years, allowing for a smooth transaction [3] - The funds raised from the private placement are expected to facilitate the company's business expansion and innovation in new energy information products [3]

Core Insights - A leading fusion technology company in China has completed a significant B-round financing of over 2 billion RMB, marking the largest single financing event in the fusion energy sector to date, reflecting growing confidence in controllable nuclear fusion as a "ultimate energy" technology [3][4] - The influx of capital into the fusion energy sector has transitioned it from a "niche" to a "hot" investment area, driven by advancements in high-temperature superconductors and AI algorithms that have improved research and development efficiency [4][6] - Since the beginning of 2023, over 10 fusion energy companies in China have secured financing exceeding 5 billion RMB, with investments from top-tier institutions and state-owned energy enterprises [6] Investment Landscape - The core company, established in 2018, focuses on the development of compact Tokamak devices and has achieved significant technological milestones, including a prototype ignition test with plasma confinement exceeding 100 seconds [6][7] - The funding will be utilized to build the world's first modular fusion pilot plant, aiming for kilowatt-level fusion energy output by 2030 and commercial reactor construction by 2035 [6][7] Global Competition - Internationally, companies like CFS in the U.S. and Tokamak Energy in the U.K. are advancing towards engineering validation, with the U.S. Department of Energy accelerating its commercialization timeline to 2032 [7] - China is building an ecological advantage through a collaborative model involving research institutions, private enterprises, and capital, supported by recent government policies that include fusion energy in future industry cultivation plans [7][8] Challenges Ahead - Despite the promising outlook, the commercialization of fusion energy faces challenges related to technology, costs, and regulatory frameworks, including the need for breakthroughs in tritium fuel cycle systems and first-wall materials [8][9] - Experts indicate that while commercialization will not happen overnight, the recent financing signifies a shift for China from "technology catching up" to "ecological leadership" in the fusion energy sector [9]

Group 1 - The establishment of China Fusion Energy Co., Ltd. was officially announced on July 22 in Shanghai, marking a significant step in advancing fusion engineering and commercialization in China [1] - China Fusion Energy Co. is a subsidiary of China National Nuclear Corporation (CNNC) and will focus on overall design, technology verification, and digital R&D, while also building a technology research platform and a capital operation platform [1] - The company signed a deepening cooperation agreement with several local institutions, including Shanghai Jiao Tong University and China Electrical Equipment Group, to form a fusion innovation consortium [1] Group 2 - China Fusion Energy Co. has entered into a capital increase agreement with various stakeholders, including CNNC, China National Petroleum Kunlun Capital, and others, to support its growth and development [1]