On June 29, Shanghai Electric rose 4.19% in regular trading, trading at HK$3.52/share, with turnover of HK$22.10 million. The stock rebounded sharply after declining in prior sessions amid related-party transaction concerns.

The rally was driven by a major national scientific milestone announced on June 27. China's largest superconducting component — the toroidal field magnet for the Comprehensive Research Facility for Key Systems of Fusion Reactor — completed final fabrication and passed expert acceptance. Simultaneously, the high-temperature superconducting central solenoid coil magnet completed full-load parameter testing with performance reaching international leading standards. The entire magnet system achieved 100% domestic production across all key processes.

Shanghai Electric is directly positioned as a core beneficiary. The company holds approximately 40% market share in domestic fusion reactor main equipment and key structural component manufacturing, ranking first nationally. It served as a primary manufacturing participant in this toroidal field magnet development, leveraging capabilities in ultra-large superconducting structure fabrication, precision assembly, and cryogenic engineering. Industry analysts estimate domestic fusion equipment procurement exceeding hundreds of billions of yuan over the next three years, with superconducting magnets as the largest procurement category.

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