今日A股可控核聚变板块呈现盘初走高的活跃态势，板块内个股表现分化但整体强势。其中，王子新材 率先发力涨停，成为板块领涨标杆，带动板块情绪升温；精达股份、斯瑞新材、西部超导、永鼎股份、 中洲特材、安泰科技等一众板块核心标的同步跟涨，形成多点开花的格局。从交易层面来看，板块早盘 成交量快速放大，量能的有效释放为股价拉升提供了支撑，反映出当前市场对可控核聚变领域政策利好 与技术突破的高度关注，板块短期关注度显著提升。 进入2026年1月，可控核聚变板块迎来技术突破与政策完善双重权威利好，为行业发展注入强劲动力： 2. 耐极端环境材料行业：可控核聚变装置中的偏滤器与第一壁是直接面对上亿度等离子体的"防护盾"， 需承受相当于航天器再入热流100倍的高温，核心依赖钨基复合材料等耐极端环境材料。该类材料技术 壁垒极高，国内企业已实现技术突破，性能达到国际先进水平。 3. 核心设备制造行业：可控核聚变装置的建设需要真空室、加热系统、冷却系统等一系列高精度核心设 备，其中真空室作为反应"容器"，需构建超高真空环境，制造精度达毫米级；低温冷却系统需保障超导 磁体在-269℃环境下运行，技术要求严苛。相关数据显示，真空室、冷却系统 ...

Core Viewpoint - The skepticism surrounding the commercialization of controlled nuclear fusion is diminishing due to advancements in high-temperature superconductors, increased commercial investments, and rapid developments in artificial intelligence, making the dream of ultimate energy more attainable [1]. Group 1: Industry Developments - The global race for "artificial sun" represents a multidimensional competition involving strategic determination, endurance, and strength, as controlled nuclear fusion transitions from basic research to engineering practice and commercial application [3]. - Shanghai Electric is one of the leading manufacturers of core equipment for nuclear fusion systems in China, having participated in major domestic and international fusion device constructions such as EAST, CRAFT, BEST, and ITER [3][5]. - The matrix of fusion devices covers various technological routes and engineering stages, providing Shanghai Electric with a significant competitive advantage in the fusion technology landscape [5]. Group 2: Technological Advancements - Shanghai Electric has a long history of involvement in fusion technology, dating back to the 1980s when it supplied two sets of pulse generator units for China's first Tokamak device [6]. - In 2025, significant breakthroughs in domestic fusion research devices are expected, including the achievement of a fusion triple product of 10^20 for the HL-3 device and the installation of key components for the BEST device [6]. - The company has developed the world's largest toroidal field magnet coil box, which is 21 meters high and weighs 400 tons, showcasing its advanced manufacturing capabilities [7]. Group 3: Strategic Initiatives - In July 2023, China Fusion Energy Co., a major player in fusion engineering, was established with a registered capital of 15 billion yuan, indicating a strategic move towards fusion commercialization [8]. - Shanghai Electric's long-term investments in cutting-edge technologies are expected to yield competitive advantages and collaborative synergies in the fusion energy sector [10]. - The company aims to explore new thermal conversion systems and efficient heat exchange devices while advancing into the supply of main equipment for controlled nuclear fusion [11]. Group 4: Future Outlook - The Chinese government has included nuclear fusion energy in its 14th Five-Year Plan, indicating a clear policy direction and stable long-term expectations for the industry [12]. - The industry is currently in the "burning experiment" phase, with plans to enhance plasma parameters significantly by the end of 2027 and to develop the first engineering experimental reactor by around 2035 [12]. - Shanghai Electric is committed to deepening its involvement in the national fusion strategy and accelerating the transition of fusion technology from laboratory feasibility to industrial application [13].

Group 1 - The establishment of the Controlled Nuclear Fusion Innovation Consortium aims to advance fusion energy as a key future energy source in China, aligning with the country's strategic development plan for nuclear energy [1][2] - The consortium, formed by China National Nuclear Corporation and 25 other entities, will focus on building a technological innovation hub for fusion engineering, integrating technology needs with industrial advantages [1][2] - Shanghai Electric, a leading manufacturer in nuclear power equipment, has developed critical core devices and possesses comprehensive capabilities in the supply of fusion equipment, supporting the industrialization process of fusion energy [2][3] Group 2 - The forum highlighted the transition of fusion technology from scientific research to engineering applications, marking a crucial period for commercialization [3][4] - The event featured 18 thematic reports focusing on advanced technologies such as fusion energy conversion, energy storage, and special power sources, fostering collaboration among academia, industry, and research [4] - Shanghai Electric plans to leverage decades of technological accumulation to collaborate with various sectors in advancing fusion technology from laboratory validation to industrial application [3]

Core Viewpoint - The article highlights Shanghai Electric's strategic positioning and technological advancements in the nuclear fusion sector, emphasizing its role as a leader in energy equipment manufacturing amid increasing global competition in nuclear fusion research and development [1][2]. Group 1: Nuclear Fusion Developments - Shanghai Electric is deeply integrated into the national fusion engineering chain and has achieved significant breakthroughs, including the development of the world's largest TF coil box for the CRAFT facility, which measures 21 meters in height and weighs 400 tons [2][4]. - The company has successfully transitioned from laboratory formulations to industrialization of special non-magnetic stainless steel materials for the BEST project, demonstrating its capability to adapt to various technological routes in fusion energy [4]. - Shanghai Electric has established comprehensive manufacturing capabilities for all core components of the Tokamak system, with ongoing projects like EAST, BEST, and CRAFT progressing steadily [4][6]. Group 2: Advanced Fission Technologies - In parallel with nuclear fusion, Shanghai Electric is advancing fourth-generation nuclear energy systems, particularly in the thorium molten salt reactor (TMSR) sector, where it has made substantial progress [5][6]. - The company has provided key equipment for the world's first liquid fuel thorium molten salt experimental reactor, which is set to demonstrate the feasibility of using thorium resources in nuclear energy systems [6]. Group 3: Technological Innovations and Manufacturing Capabilities - Shanghai Electric has a strong foundation in extreme condition manufacturing, having developed materials suitable for -269°C and over 700°C, addressing challenges in both nuclear fusion and fourth-generation fission technologies [7]. - The company is building a comprehensive nuclear energy equipment system that spans nuclear fusion, advanced fission, and traditional nuclear power, positioning itself as a critical player in the national energy strategy transition [7][8]. Group 4: Market Position and Future Outlook - With a consensus that commercial nuclear fusion may take two to three decades, companies like Shanghai Electric are adopting a "selling shovels" approach to realize technological value in the interim [8]. - The company aims to progress in both nuclear fusion and advanced fission technologies, securing mid-term opportunities while maintaining a long-term vision for energy solutions [8].

证券日报网讯12月19日，航天晨光（600501）在互动平台回答投资者提问时表示，公司可为商业航天地 面发射场加注供气系统配套高压储气罐，为火箭发动机、箭体管路系统配套金属软管，为火箭贮箱配套 隧道管组件等；公司可为核聚变提供杜瓦、冷屏、真空室等大型设备以及相关配套的膨胀节等系统部 件。 ...

每经AI快讯，有投资者在投资者互动平台提问：1.公司作为中国航天科工集团的一员，请问公司有哪些 产品、技术应用于商业航天领域？ 2.请问公司有哪些产品、技术应用于可控核聚变领域？ 3.可控核聚变 和商业航天两大新兴领域未来不可限量，公司将通过什么方式抓住商业航天和可控核聚变的机遇将公司 发展壮大？ （文章来源：每日经济新闻） 航天晨光（600501.SH）12月19日在投资者互动平台表示，1.公司可为商业航天地面发射场加注供气系 统配套高压储气罐，为火箭发动机、箭体管路系统配套金属软管，为火箭贮箱配套隧道管组件等；2.公 司可为核聚变提供杜瓦、冷屏、真空室等大型设备以及相关配套的膨胀节等系统部件。3.在商业航天领 域，公司在巩固管路系统核心配套优势的基础上，努力实践"硬技术+系统服务"双向驱动的策略。在核 聚变领域，公司将利用核心部件配套优势，着力开展相关配套组件的研制工作，构建全面的聚变研发生 产体系，努力为行业高质量发展做贡献。 ...

格隆汇12月17日丨派克新材(605123.SH)在投资者互动平台表示,公司作为聚变产业联盟会员单位，已深 度参与BEST项目，为真空室、屏蔽包层、偏滤器、第一壁等核心部件提供材料研发与产品配套。 ...

Group 1 - The International Energy Agency predicts that the global nuclear fusion market size is expected to approach $500 billion (3.5 trillion RMB) by 2030 [1] - Significant advancements have been made in controlled nuclear fusion research, including both Tokamak for "steady-state operation" and laser devices for "fast ignition" [1] - China is intensifying efforts to develop the controlled nuclear fusion industry, with policies emphasizing support for early-stage research and the establishment of a comprehensive future energy equipment system [1] Group 2 - By July 2025, China National Nuclear Corporation will lead the establishment of China Fusion Energy Co., focusing on major scientific experiments and key material development for fusion reactors [1] - A strategic cooperation agreement was signed between Lianchuang Optoelectronics and China Energy Construction to collaborate on cutting-edge fields including controlled nuclear fusion [1] - Since 2025, the primary market financing for China's nuclear fusion sector has exceeded 10 billion RMB [1] Group 3 - The controlled nuclear fusion sector is expected to unlock a trillion-dollar blue ocean market, with key materials and components identified as high-temperature superconductors, first wall materials, low-temperature systems, heat exchangers, and vacuum chambers [2] - The bidding and construction by leading domestic nuclear fusion companies will drive growth for upstream material suppliers and midstream processing firms, benefiting the "shovel sellers" in the industry [2] - The commercialization path for nuclear fusion technology is becoming clearer, with an anticipated acceleration in capital expenditure during the 14th Five-Year Plan period, leading to sustained order releases in related component sectors [2]

Core Viewpoint - The article emphasizes the accelerating industrialization of controlled nuclear fusion, highlighting its importance for national energy security and technological independence. The industry is transitioning from experimental validation to engineering demonstration, with significant advancements in material performance and domestic production capabilities [5][11][14]. Industry Overview - Controlled nuclear fusion is entering a new phase characterized by multiple competitive technological routes and concentrated capital investment, with key equipment's domestic production rate exceeding 96% [5][8]. - The nuclear fusion industry is expected to achieve commercial power generation within the next decade, with 2031-2035 being the widely recognized timeframe for commercialization [15]. Investment Opportunities - The capital market has shown sustained interest in the controlled nuclear fusion sector, with stock performance indicating a potential new market cycle. Recent trading activity has seen significant gains in related stocks, suggesting a bullish trend [8][30]. - Investors are encouraged to focus on core enterprises within the nuclear fusion sector to seize investment opportunities as the industry progresses towards commercialization [9]. Technological Development - The development of controlled nuclear fusion is structured into five stages: scientific theory, scientific feasibility, engineering feasibility, commercial feasibility, and commercial reactor. The industry is currently advancing towards engineering feasibility [10]. - AI technology is playing a crucial role in accelerating the commercialization of nuclear fusion by optimizing reaction conditions and predicting plasma behavior, significantly enhancing research efficiency [15][19]. Material Innovation - Material innovation is critical for overcoming bottlenecks in the nuclear fusion industry, with research focusing on surface and structural innovations, superconducting materials optimization, and material modification [22][28]. - Superconducting materials are essential for the operation of controlled nuclear fusion devices, directly impacting energy efficiency and plasma confinement capabilities [25][26]. Key Enterprises - Several leading companies are making significant strides in the nuclear fusion sector, including: - **Sichuan Four Creation Electronics (四创电子)**: The only domestic company to achieve the localization of superconducting magnet power supply modules for fusion devices [36]. - **Parker New Materials (派克新材)**: The only company capable of mass-producing core components for nuclear fusion, continuously enhancing its technological advantages [38]. - **Antai Technology (安泰科技)**: A global supplier of core components for controlled nuclear fusion, providing a range of tungsten-related products for nuclear power technologies [39].

Core Insights - The controllable nuclear fusion sector is experiencing significant activity, with multiple stocks reaching their daily limit up, indicating strong investor interest and market momentum [1][2] - The market is driven by the promising prospects of controllable nuclear fusion as a "ultimate energy" source, transitioning from experimental validation to engineering demonstration phase, with new projects set to launch bidding soon [2][3] Stock Performance - Tianli Composite (920576) saw a price increase of 30%, with a year-to-date growth of 182.45% and a trading volume of 5.16 billion [2] - Xuren Group (002639) rose by 9.99%, with a year-to-date increase of 165.11% and a trading volume of 30.48 billion [2] - Other notable performers include Guojizhongzhuang (601399) up 9.98%, Falsen (000890) up 9.93%, and China First Heavy Industries (601106) up 9.89% [2] Market Trends - The International Energy Agency predicts that the global nuclear fusion market could approach $500 billion (3.5 trillion RMB) by 2030, highlighting the sector's growth potential [3] - Recent grassroots research indicates that multiple new projects, including "Xinghuo No. 1" in Jiangxi and "Xianjue" in Chengdu, are set to begin preliminary bidding within the year, marking a shift towards industrialization [3] Sector Analysis - The superconducting materials sector is expected to benefit significantly from the demand for high-performance superconducting magnets essential for plasma confinement in fusion devices [4] - The core component manufacturing sector will see increased orders for precision components like tungsten-based filters and vacuum chambers, which require high-temperature resistance and radiation tolerance [4] - The high-end equipment and system integration sector will experience growth opportunities as large experimental and demonstration reactors require comprehensive design and integration capabilities [4] Supporting Systems - The power supply and control systems sector is crucial for providing stable magnetic fields and heating power, with companies that have historically supported research projects likely to secure bulk orders during the industrialization phase [5]