3、特种电源与储能板块：聚变反应需要瞬时大功率脉冲电源，对特种电源、大功率电容器等需求激 增，相关电源与储能设备供应商迎来市场扩张机遇。 4、关键材料与部件板块：钨基偏滤器、第一壁、耐高温合金等核心部件是装置稳定运行的基础，材料 与部件供应商有望持续获得高价值订单。 5、工程建设与系统集成板块：随着示范堆和商业堆建设加速，具备核能工程经验与总包能力的公司将 深度参与聚变电站建设，产业链分工进一步明确。 相关上市公司梳理 据东方财富研究中心12月19日消息，今日可控核聚变概念股再度爆发，宏微科技涨超12%，王子新材、 百利电气、雪人集团等多股涨停。 消息面上，当地时间周四，特朗普媒体与科技集团(DJT)已同意与一家获得Alphabet支持的核聚变能源 公司进行全股票交易合并，交易总价值超过60亿美元。此次合并将使双方共同建设一系列大型聚变发电 厂，以满足人工智能(AI)浪潮带来的能源需求。周四，DJT股价大幅飙升，涨幅超过40%。 申万宏源研报指出，随着技术的持续突破、政策不断落地以及国内相关装置建设加速，核聚变技术的工 程化与商业化进程有望加快。国际能源署则预测，到2030年，全球核聚变市场规模有望接近500 ...

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]

Core Insights - The recent breakthrough in China's compact fusion energy experimental device (BEST) marks a significant advancement, paving the way for the world's first fusion energy demonstration in 2027 [3] - Controlled nuclear fusion is considered the "ultimate energy solution," comparable to historical revolutions like the steam engine and electrification, with the potential to transform the global energy landscape [3] - The fusion reactor market is projected to be a trillion-dollar opportunity, with upstream materials and key components expected to benefit first [3] Company Highlights - **Ingeteam**: This company has been providing critical power supply services for national fusion projects, covering essential systems such as magnetic field and heating power supplies, successfully applied in multiple key national projects [4] - **Xiamen Tungsten**: The first domestic company to develop and produce ITER filter tungsten probe components, possessing precision processing capabilities for large-scale ITER-grade tungsten materials, supplying core tungsten components for various fusion devices [5] - **China Nuclear Technology**: Supplies 80% of the vacuum sealing valves and connectors for the Chinese Circulation III project, with products capable of withstanding plasma impacts of 160 million degrees and a lifespan of 100,000 hours, breaking the technical monopoly of France's Framatome [6] - **Western Superconducting Technologies**: Achieved significant breakthroughs in NbTi superconducting wire for nuclear fusion, developing engineering production technology that produces superconducting wire lengths of up to 90,000 meters, meeting ITER project requirements [7] - **Potential Leading Company**: The only global company capable of full industrial chain manufacturing for fusion reactors, securing orders for core components like ITER superconducting coils and vacuum chambers, with proprietary micron-level precision vacuum chamber welding technology [8]