临近年末，A股市场持续震荡，个股分化加剧。然而，与指数跌宕起伏形成鲜明对比的是，商业航天、 可控核聚变、无人驾驶、海南自贸港、新零售等主题概念板块却如火如荼，部分板块指数更在近期创出 历史新高。这种"个股分化、主题高潮"的分化格局，正成为年末市场最显著的特征，也考验着每一位市 场参与者的智慧。 多家受访的私募机构表示，这一现象是年末资金调仓与产业事件催化共振的结果。面对分化加剧的市 场，有的私募机构"拥抱趋势"，有的"坚守价值"。机构的共识是，要对以AI为核心的产业机遇提前展开 多层次布局。 ● 本报记者 王辉 有私募人士进一步表示，这种极端分化也暴露了当前市场拉锯的"AB两面"：基本面缺乏清晰指引，赚 钱效应集中在狭窄的赛道内。把脉投资研究经理郑露娇提供的数据显示，近期市场成交量与两融交易活 跃度均有所回落，游资龙虎榜交易热度却逆势回升，这表明活跃资金正高度聚焦短期题材进行博弈，进 而成为一种典型的"短期应对策略"。 "拥抱趋势"与"坚守价值" 面对如火如荼的主题行情，不同的私募机构展现出截然不同的应对策略与战术选择，其核心分歧在于如 何平衡"拥抱趋势"与"坚守价值"。 "我们当前正处在'政策预期大于业绩验 ...

Core Viewpoint - The article highlights the significant advancements in nuclear fusion research in Hefei, particularly the achievements of the EAST (Experimental Advanced Superconducting Tokamak) device, which has set world records in plasma operation, marking a crucial step towards the realization of nuclear fusion as a viable energy source [1][4][8]. Group 1: Progress of "Artificial Sun" - The EAST device achieved a plasma temperature of 100 million degrees Celsius for 1066 seconds, setting a new world record for high confinement mode operation [1][4]. - The CRAFT (Kua Fu) low ripple current drive system has passed expert testing and has been fully domesticated, playing a key role in heating plasma to extreme temperatures [1][4]. - Since its establishment in 2006, the EAST device has conducted over 150,000 experiments, contributing valuable data for understanding nuclear fusion processes [7][8]. Group 2: Energy Industry's "Butterfly Effect" - Nuclear fusion energy offers unique advantages such as abundant raw materials, safety, efficiency, and low carbon emissions, with deuterium extracted from seawater providing energy equivalent to 300 liters of gasoline per liter of seawater [11]. - The nuclear fusion industry chain is expected to grow significantly, with upstream materials like lithium and beryllium becoming increasingly in demand as research progresses [12]. - The midstream involves high-precision equipment manufacturing, which will accelerate the overall upgrade of China's high-end equipment manufacturing industry [13]. - The downstream sector will see a transformation in energy supply, potentially replacing traditional fossil fuels with clean nuclear fusion energy, enhancing energy security and reducing environmental pollution [14]. Group 3: Hefei's Support for "Artificial Sun" - Hefei has become a focal point for nuclear fusion research, establishing itself as a national scientific center with significant infrastructure and innovation platforms [16]. - The city has formed a fusion industry alliance with over 1,000 units to collaboratively tackle key technologies and accelerate the full industry chain layout [18]. - Hefei is actively promoting the transformation of scientific achievements into production, providing a conducive environment for technology commercialization [19].