CITIC Securities: Controllable nuclear fusion industry enters the fast lane of development and is expected to have a positive impact on the industry chain.

The CITIC Securities research report stated that the Shanghai Stock Exchange held a controllable nuclear fusion industry salon, and the first commercial linear fusion device in China successfully ignited plasma. China's controllable nuclear fusion industry has multiple technological routes advancing simultaneously, with continuous breakthroughs in technology, ongoing project financing, and increasing attention from policy makers. China's controllable nuclear fusion industry is entering a fast lane of development. The bidding procurement for related projects is accelerating, and is expected to have a positive impact on the industry chain. For the tokamak technology route, it is recommended to pay attention to relevant listed companies in the fields of superconducting tapes/magnets, internal components of the reactor, structural components, power systems, and auxiliary heating systems. For the Z-FFR and FRC technology routes, it is recommended to focus on listed companies with core competitiveness in the power system segment.