Group 1 - Hangzhou Oxygen Group has officially joined the nuclear fusion industry alliance and successfully won the bid for a low-temperature nitrogen system project from Fusion New Energy (Anhui) Co., Ltd, marking its entry into the nuclear fusion sector [1][2] - The "All-Superconducting Tokamak Nuclear Fusion Experimental Device" located in Hefei, Anhui, is expected to be completed and operational by 2027, aiming to challenge extreme temperatures and accelerate the transition to clean energy [1] - Nuclear fusion is referred to as the "artificial sun" due to its principle being similar to the nuclear fusion reactions occurring in the sun, and it is considered the "ultimate energy dream" because of its advantages over fossil fuels and nuclear fission [1] Group 2 - The current industrial manufacturing capabilities and control levels are insufficient for safely and sustainably harnessing nuclear fusion energy, prompting global scientists to compete in this field [2] - Hangzhou Oxygen Group's equipment plays a crucial role in maintaining the extreme conditions required for plasma stability, with temperatures reaching as low as -269 degrees Celsius, showcasing the company's technical capabilities and comprehensive strength in the nuclear fusion field [2] - With over 70 years of experience in large equipment manufacturing, Hangzhou Oxygen Group has also ventured into the hydrogen energy sector since 2021, focusing on technology research and development, equipment sales, project investment, and hydrogen retail [2] Group 3 - Hangzhou Oxygen Group's self-developed "Sliding Radial Flow Purification Device" won a gold medal at the 50th Geneva International Exhibition of Inventions, further validating the strength of "Hangzhou manufacturing" as it enters the nuclear fusion industry [3]

Core Insights - The controllable nuclear fusion industry chain is characterized by high technical content, with downstream applications not yet commercialized [1] Group 1: Industry Chain Overview - The upstream of the controllable nuclear fusion industry includes various raw materials such as superconducting magnet materials, rare metals like tungsten and tantalum, special steel, and fuels like deuterium and tritium [1] - The midstream involves equipment and reactor engineering construction, with common devices including tokamak fusion experimental devices, magnetic systems, vacuum systems, heating and current drive systems, and other essential equipment [1] - The downstream primarily focuses on nuclear power plant operations for research and power generation [1] Group 2: Key Enterprises in Upstream and Midstream - Key upstream companies providing superconducting magnet materials include Jiuli New Materials, Shanghai Superconductor, and Lianchuang Superconductor; companies producing cladding materials include Zhangyuan Tungsten and Chujian New Materials [2] - In the midstream equipment manufacturing sector, West Superconductor's Nb3Sn superconducting wire is widely adopted; Antai Technology's low-noise antenna tungsten string limiter is used in the EAST superconducting tokamak fusion experimental device [2] - China National Nuclear Corporation is a major player in the engineering construction of controllable nuclear fusion, with significant advancements in its fusion device, "China Circulation No. 3" [2] Group 3: Downstream Applications and Current Status - Controllable nuclear fusion is still in the critical technology research phase and has not yet achieved commercial power generation; current projects include the China Fusion Engineering Test Reactor (CFETR) and the Compact Fusion Energy Experimental Device (BEST) [3] - Ongoing technological breakthroughs and experimental validations are expected to provide solid technical support for future clean energy supply and enhance the industry chain layout [3] Group 4: Regional Distribution of the Industry - As of March 25, 2025, there are 170 institutions related to controllable nuclear fusion in China, with the highest concentration in Anhui Province (24 institutions), followed by Guangdong (19) and Beijing (17) [7] - The distribution of listed companies related to controllable nuclear fusion includes 47 companies across 15 provinces, with Jiangsu Province having the most at 8 companies, including Yongding Co., Ltd. [9] - A significant industrial cluster is forming around Hefei and Shanghai, with a focus on the Jiangsu-Zhejiang-Shanghai-Huai region and Chengdu and Xi'an as key areas for fusion equipment [10]