Stellarators are a long-term clean-power bet because the company says they can operate steadily and continuously, while Yanchao Juneng's 1+N strategy uses superconducting technology in nearer-term markets before fusion power is commercial. The latest company announcement reports nearly 60 full-time staff, a functioning CICC three-dimensional superconducting-magnet production line, a named-but-undisclosed international fusion-device order whose first payment has arrived, and a several-hundred-million-yuan Pre-A round to advance its YF-1/YF-2/YF-3 program and commercial applications.