Double board Ningbo Techmation (603015.SH): The Italian subsidiary does not directly produce or develop complete nuclear fusion devices.

Ningbo Techmation (603015.SH) announced that the closing price of the company's stock has deviated by more than 20% for two consecutive trading days on January 7 and January 8, 2025. According to the relevant regulations of the Shanghai Stock Exchange, this constitutes abnormal fluctuations in the stock trading price. The company noted that the concept of controllable nuclear fusion has recently attracted high market attention. The company's subsidiary, EEI in Italy, does not directly produce or develop complete nuclear fusion devices, but it provides HDPS series power supply complete solutions with high dynamic characteristics for nuclear fusion devices, which are a component of nuclear fusion devices. These solutions are customized, and the business model involves project bidding with a long delivery cycle and a low proportion of order amount to project investment. It is expected that the revenue from this type of business will account for approximately 2% of the company's total revenue in 2024, with limited short-term impact on the company's performance. Global controllable nuclear fusion projects are currently in the experimental stage, aiming to verify the scientific and technological feasibility of nuclear fusion energy production for sustainable and clean energy production. There is still a long way to go before commercial applications of controllable nuclear fusion are realized, and there is significant uncertainty regarding the sustainability of EEI's participation in such projects and receiving orders.