The heat is rising in the nuclear fusion sector, and investment opportunities along the industry chain are emerging.

This energy source, often called the "artificial sun," is no longer just theoretical; it is accelerating toward commercialization. Once commercialized, the global energy landscape will undergo a major reshuffle.

From an industry chain perspective, the upstream is the materials segment. In superconducting materials, Western Superconducting and Jingda Shares are the main players, while Xiamen Tungsten leads in first-wall materials. Western Superconducting is a key supplier of ITER superconducting wires domestically, and Xiamen Tungsten New Energy holds an advantage in tungsten-based first-wall materials. The midstream equipment segment is the true "brain and skeleton," with components like filters involving companies such as Guoguang Electric, and magnet systems performing well with companies like Western Superconducting.

The technical principle is actually not complicated: compress hydrogen atoms to produce helium and generate electricity. The key challenges are twofold—first, enabling hydrogen atoms to react at an extreme temperature of 100 million ℃, and second, using magnetic fields to stably "suspend" the plasma. This is where the real test of materials and equipment lies.

The world's largest experimental reactor, ITER, is now in the final installation phase, with China supplying 9% of the components. Additionally, domestically, three "homegrown" research projects have been independently advanced. What does this mean? It means that in this sector, we have both international cooperation and independent innovation, paving a broad path forward. The next energy era may be ignited in this way.