Chinese Scientists Build World's First Thorium Molten Salt Reactor; Shares of Parts Suppliers Surge

Chinese researchers have developed the world's first thorium molten salt reactor, achieving thorium to uranium nuclear fuel conversion. This reactor, built by the Shanghai Institute of Applied Physics, confirms the feasibility of using thorium as a sustainable nuclear fuel alternative. Following the announcement, shares of related equipment suppliers surged, with Nanjing Baose rising 20% and Suzhou Hailu Heavy Industry increasing by 10%. The reactor is part of a broader effort to utilize thorium resources in nuclear energy, with plans for a larger demonstration project by 2035.

A-shares closing: The ChiNext Index rebounded from a low, rising 0.29%, with the thorium-based molten salt reactor concept experiencing a collective surge

The A-share market overall rebounded after hitting a low today, with the three major indices rising slightly. The Shanghai Composite Index rose by 0.55%, the Shenzhen Component Index rose by 0.19%, and the ChiNext Index rose by 0.29%. The Hainan Free Trade Port and commercial aerospace concepts performed strongly, with thorium-based molten salt reactor concept stocks such as BAOSE and LSHEC hitting the daily limit. The battery sector, however, saw adjustments, with Haike Xinyuan falling over 10%

A-share thorium-based molten salt concept stocks surged in the morning, with BAOSE, SZHL, SHENTONG VALVE, and ZHEFU hitting the daily limit at the open, while GATD, SHENTONG VALVE, and SH ELECTRIC all opened significantly higher

BAOSE: Shanxi Huaxin Hai 1.00% reduction period expired without implementation

BAOSE announced that as of October 29, 2025, the shareholder holding more than 5%, Shanxi Huaxin Hai Trading Co., Ltd., had previously planned to reduce its holdings by no more than 2.4679 million shares through centralized bidding from July 30, 2025, to October 29, 2025, accounting for 1.00% of the total share capital. However, no reduction was implemented during the reduction period, and it still holds 15.78 million shares, accounting for 6.39%

BAOSE released its performance for the first three quarters, with a net profit attributable to the parent company of 50.1918 million yuan, a decrease of 13.86%

BAOSE released its third-quarter report for 2025, with operating revenue for the first three quarters amounting to 1.01 billion yuan, a year-on-year decrease of 22.97%; net profit attributable to shareholders was 50.1918 million yuan, a year-on-year decline of 13.86%; net profit excluding non-recurring gains and losses was 45.1453 million yuan, a year-on-year decrease of 14.09%; basic earnings per share were 0.2037 yuan