可控核聚变系列 - 电源专题：多技术路线共同发展，电源价值量在膨胀

Summary of Key Points from the Conference Call on Controlled Nuclear Fusion Power Supply Industry Overview - The conference focuses on the controlled nuclear fusion industry, specifically the power supply systems for various fusion devices such as Tokamak, FRC (Field-Reversed Configuration), and Z-pinch technology [1][4][16]. Core Insights and Arguments - Tokamak Dominance: The Tokamak device is the mainstream nuclear fusion route, with high demand for magnet power supplies and auxiliary heating systems, which constitute a significant portion of the value [1][4]. - FRC and Z-Pinch Technology: FRC and Z-pinch technologies have high technical barriers and rapidly growing demand, particularly for fast-switching and pulse capacitor technologies [1][4][16]. - Power Supply Requirements: Controlled nuclear fusion power supplies require high capacity, high voltage, large current, and low ripple. For Tokamak devices, ripple must be maintained below 1% to 2% [2][11]. - Auxiliary Heating Systems: The main auxiliary heating systems are neutral beam heating and radio frequency heating, which require specific power supply types based on their voltage needs [10][12]. Technical Specifications - Key Components of Tokamak: The critical aspects of Tokamak devices include steady-state power (auxiliary heating, grid, low-temperature, and water cooling systems) and pulse power (auxiliary heating, magnetic power, and reactive power compensation) [5][9]. - Reactive Power Compensation: This system is essential for stabilizing the operation of fusion devices by managing reactive power fluctuations, ensuring reliability and safety [6][8]. - FRC Device Characteristics: FRC devices do not require complex magnetic fields or superconducting magnets, but they demand high instantaneous power pulse capabilities, leading to increased power supply value [13][15]. Market Opportunities and Risks - Investment Potential: Companies such as PSM, Sifang Electronics, Yingjie Electric, Aikexibo, and Xinfengguang are highlighted as having competitive advantages in the nuclear fusion sector, particularly in FRC-related equipment [18]. - Upcoming Tender Activities: The recent tender activities related to the CAS BEST project for magnet procurement are expected to expand into power supply-related tenders, presenting new market opportunities for suppliers [19]. Additional Important Content - Key Components to Watch: The demand for switches and supercapacitors is expected to rise significantly in the development of FRC and Z-pinch technologies, along with attention to MOSFETs as critical components [17]. - Response Time Requirements: FRC devices require nanosecond-level response times for power supplies, indicating a significant increase in power supply value, potentially exceeding 15% to 50% growth [15][16].