CGN Power reports lower Q1 profit despite revenue increase

CGN Power (SZSE:003816) reported a revenue increase of 4.41% to CNY20.028 billion for the first quarter of 2025, primarily due to a 9.41% increase in nuclear power generation, totaling 56.689 billion kWh. However, net profit attributable to shareholders decreased by 16.07% to CNY3.025 billion. The decline was attributed to factors including an increase in electricity volumes traded on the market and lower market prices, as well as R&D progress, according to the firm's Q1 report and subsequent board announcement. Despite profit decline, CGN Power’s board approved the Q1 report, the company's capital management strategy, and its market value management system. As of the end of the quarter, total assets reached CNY432.399 billion and net assets attributable to shareholders amounted to CNY122.490 billion. The board has suggested the company distribute a cash dividend of CNY0.095 per share, subject to shareholder approval, that is expected to be complete in July.