AT&M(000969)2024-11-28 10:25Nuclear Fusion Industry and Company Involvement - The global nuclear fusion industry saw a cumulative financing increase of nearly $900 million in 2024 compared to the previous year, with technological advancements and commercialization progressing [1] - The company's subsidiary, Antech Zhongke, is a core supplier of global nuclear fusion devices, providing a full range of tungsten-related products such as tungsten-copper diverters and limiters [1] - The company has been supplying tungsten-copper diverters to EAST since 2013, being the first domestic company with the capability to produce fusion tungsten-copper diverters [1] - The company's technologies, including high-performance tungsten plate preparation and vacuum brazing, have gained international recognition, supplying products to WEST and ITER [2] Core Industries Performance and Future Development - The refractory tungsten-molybdenum industry achieved revenue of 1.6 billion yuan in the first three quarters of 2024, with strategic new products like "flat panel display target materials" exceeding last year's contract value [2] - The rare earth permanent magnet industry faced challenges due to increased competition and weak market demand, but order volume remained stable compared to the same period last year [2] - Future strategies include accelerating the development of strategic new products, consolidating market positions in high-end medical equipment, and focusing on emerging fields like semiconductors and aerospace [2] - The company plans to enhance its rare earth permanent magnet business by focusing on new energy vehicles, industrial energy-saving motors, and high-end consumer electronics [2] Amorphous and Nanocrystalline Industry - In the first half of 2024, the amorphous and nanocrystalline business saw growth in new contract value, revenue, and net profit, with sales of amorphous 3D rolls exceeding 5,000 tons [4] - Export volume of amorphous strips increased by 30.8%, reaching over 9,000 tons, while nanocrystalline product sales exceeded 5,000 tons, with a 27.7% increase in the white goods sector [4] Strategic Direction and Goals for 2025 - The company's "14th Five-Year Plan" strategy focuses on deepening reform, industrial concentration, and high-quality development, aiming to achieve breakthroughs in technological innovation, structural adjustment, and development quality [4] - By 2025, the company aims to complete the "14th Five-Year Plan" and initiate the "15th Five-Year Plan," focusing on core industries and exploring new growth paths [6] - The company plans to continue industrial restructuring, enhance international industrial layout, and strengthen investment capabilities for sustainable development [6]