Western Superconducting Technologies Co Ltd: A Surge Amidst Fusion‑Driven Momentum
Western Superconducting Technologies Co Ltd (WSTC), listed on the Shanghai Stock Exchange, closed the session on 9 October 2025 at 69.99 CNY per share, marking a 7.53 % rise from the previous close. The rally continued a five‑day uptrend, with the shares trading 14.17 % higher over that span. The daily turnover reached 1.005 billion CNY, and the market‑capitalised value climbed to 454.70 billion CNY.
Trading Highlights
| Item | Detail |
|---|---|
| Close price | 65.09 CNY (2025‑09‑29) |
| Today’s close | 69.99 CNY |
| Price change | +7.53 % |
| Turnover | 1.005 billion CNY |
| Turnover rate | 2.14 % |
| Market cap | 45.47 billion CNY (current) |
| 5‑day cumulative rise | 14.17 % |
The rally aligns with the broader surge in the controlled nuclear fusion sector. On the same day, several fusion‑related stocks—such as Huanan Hua‑Tong, Yifang Nuclear Power, and Shanghai Electric—reached daily limits, and multiple firms in the fusion supply chain posted gains above 10 %. The momentum stems from recent milestones in China’s BEST (Compact Fusion Energy Experimental Device) project, notably the successful installation of the D‑wafer baseplate, signalling a new construction phase for the tokamak.
Fund Activity
The jump was partly buoyed by institutional buying. China Merchants Securities’ 500 ETF Link‑A (008258), a fund with assets of 648.2 million CNY, disclosed a 200‑share holding in WSTC, valued at 0.01 % of its net asset value. The fund ranks as the fourth‑largest position in its portfolio, and the fund’s managers—Liu Xianzheng and Zhang Yimin—have a track record of robust performance. According to the fund’s calculations, the 7.53 % rise yielded approximately 980 CNY in unrealised gains for the holding, while the five‑day rally generated about 1,616 CNY in cumulative profit for the same stake.
Company Profile
Founded on 28 February 2003 and listed on 22 July 2019, Western Superconducting Technologies operates from No. 12 Mingguang Road, Xi’an Economic and Technological Development Zone, Shaanxi Province. Its business is segmented as follows:
- High‑end titanium‑alloy materials – 57.59 % of revenue
- Superconducting products – 29.34 % of revenue
- High‑temperature alloy materials – 9.01 % of revenue
- Other – 4.07 % of revenue
The company’s core competency lies in the development, manufacturing, and sales of high‑performance superconducting magnets, a technology critical to the operation of tokamak fusion reactors. The recent progress in the BEST project has amplified demand forecasts for such components, directly benefiting WSTC’s revenue streams.
Contextual Drivers
Policy Support – The enactment of the Atomic Energy Law in September 2025 provides a legal framework encouraging fusion research and development. The law explicitly supports controlled thermonuclear fusion and establishes a supervisory regime for fusion facilities and fuels.
International Collaboration – Germany’s federal decision to allocate over 20 billion euros to fusion projects and the launch of a national fusion programme reinforce a global competitive environment, elevating expectations for commercial fusion plants by 2030.
Capital Inflows – Multiple funds and institutional investors have increased exposure to fusion‑related components, reflected in the sharp buying of WSTC shares by China Merchants Securities’ 500 ETF Link‑A.
Technological Milestones – The BEST project’s recent installation of a critical component represents a tangible step toward the first demonstration of fusion power generation, raising the profile of suppliers such as Western Superconducting Technologies.
Market Outlook
While the price‑to‑earnings ratio stands at 37.88, indicating a premium valuation, the company’s pivotal role in the fusion supply chain positions it favorably for sustained growth. Analysts suggest that as construction of the BEST prototype accelerates, orders for high‑field superconducting magnets are likely to expand, potentially translating into higher margins for WSTC.
Investors should monitor the progression of the BEST project, policy developments in nuclear energy, and the performance of other fusion‑related equities, as these factors collectively shape the trajectory of Western Superconducting Technologies’ stock.
