China Nuclear Engineering secures new contract, waives preemptive rights

China Nuclear Engineering Corporation (CNEC) announced that its subsidiary, China Nuclear Industry 24 Construction Co., Ltd., signed a contract for the nuclear island and related BOP civil construction engineering for Unit 3 of the first phase of the Jiangsu Xuwei Nuclear Energy Heating and Power Plant. CNEC also reported cumulative new contract signings of CNY 130.692 bn and operating revenue of CNY 92.030 bn as of November 2025.

In a related development, CNEC decided to waive its preemptive rights in the equity transfers of two subsidiaries, China Nuclear Industry 23 Construction Co., Ltd. (CNI23) and China Nuclear Industry 5 Construction Co., Ltd. (CNI5). Hangzhou Guogai Double Hundred Synergy Equity Investment Partnership will transfer its 18.57% stake in CNI23, with China Reform Asset Management Co., Ltd. acquiring 13.15% (CNY 879m) and CNEC affiliate China Nuclear (Zhejiang) Sci-tech Innovation Co., Ltd. acquiring 5.42% (CNY 362m).

Separately, China Nuclear (Beijing) Sci-tech Innovation Co., Ltd., another CNEC affiliate, will acquire a 18.21% stake in CNI5 from Bank of Communications Financial Asset Investment Co., Ltd. for approximately CNY 300m. These transactions will not affect CNEC's holding percentage in either subsidiary or its consolidated financial statements.