Guantao Deals | Guantao to assist PetroChina Kunlun Capital and other investors in the capital increase of China Fusion Energy Co., Ltd.
On July 22, 2025, China Fusion Energy Co., Ltd. (“China Fusion Energy”) was officially established in Shanghai. As a second-tier subsidiary directly under China National Nuclear Corporation (“CNNC”) and the core innovation entity advancing the engineering and commercialization of fusion energy in China, the company will focus on overall system design, technology verification, and digital R&D, while building both a technology development platform and a capital operation platform.
On the same day, China National Nuclear Power Co., Ltd. (601985.SH) and Zheneng Electric Power Co., Ltd. (600023.SH) respectively issued announcements confirming their equity participation in China Fusion Energy. According to the disclosed information, upon completion of the capital increase, China Fusion Energy’s registered capital reached RMB 15 billion. Its shareholders include: CNNC, China National Nuclear Power Co., Ltd., CNPC Kunlun Capital Co., Ltd. (“CNPC Kunlun Capital”), Shanghai Future Fusion Energy Technology Co., Ltd., National Green Development Fund Co., Ltd., Zheneng Electric Power Co., Ltd., and Sichuan Chongke Fusion Energy Technology Co., Ltd.
Guantao Law Firm served as legal counsel to CNPC Kunlun Capital and other investors in this transaction, providing full-scope legal services covering legal due diligence, review and negotiation of transaction documents, compliance assessment, and closing support. The project was co-led by Partners Lin Dongsheng and Ni Min, with Huang Yizhou, Zhou Lili, and Wang Tong as key team members.