CGN Power updates on acquiring four nuclear power companies

CGN Power Co. announced on September 5, 2025, an update regarding its connected transaction to acquire equity interests in four companies, including Huizhou Nuclear Power. The company is set to acquire 82% of CGN Huizhou Nuclear Power Co., Ltd., 100% of CGN Huizhou No. 2 Nuclear Power Co., Ltd., 100% of CGN Huizhou No. 3 Nuclear Power Co., Ltd., and 100% of CGN Zhanjiang Nuclear Power Co., Ltd. from its controlling shareholder, China General Nuclear Power Corporation. This transaction, initially announced on August 27, 2025, required an additional audit due to the original audit reference date exceeding the six-month limit for the general meeting approval.

The additional audit reports, with a reference date of June 30, 2025, provide updated financial data. As of June 30, 2025, Huizhou Nuclear Power reported total assets of RMB45.2bn and net assets of RMB8.8bn. Huizhou No. 2 Nuclear Power recorded total assets of RMB9.7bn and net assets of RMB1.9bn. Huizhou No. 3 Nuclear Power showed total assets of RMB138.1m and net assets of RMB100.0m for the period from February 16, 2025, to June 30, 2025. Financial data for Zhanjiang Nuclear Power as of June 30, 2025, showed no recorded operating revenue or profit.