CGN Power expands nuclear fleet with new acquisitions, adjusts transactions

CGN Power's semi-annual report for 2025 highlights key strategic moves, including the acquisition of four nuclear power companies: Huizhou Nuclear Power (82% equity), Huizhou Second Nuclear Power (100% equity), Huizhou Third Nuclear Power (100% equity), and Zhanjiang Nuclear Power (100% equity). This acquisition, approved by the board on August 27, 2025, aligns with the company's commitment to expanding its nuclear energy capacity. The total transaction value for these acquisitions is RMB 9,375.4325 million.

Concurrently, CGN Power has adjusted its daily related transaction estimates for 2025-2027 to accommodate operational needs and nuclear project developments. The revised maximum annual transaction amounts for comprehensive services have increased to RMB 8.145 billion for 2025, RMB 8.335 billion for 2026, and RMB 8.935 billion for 2027. These changes reflect the company's dynamic management in response to ongoing construction and increased demand for technical and maintenance support, including DCS supplies and environmental services.

The company also issued RMB 4.9 billion in A-share convertible bonds ("CGN Nuclear Convertible Bonds"), which began trading on the Shenzhen Stock Exchange on July 25, 2025, further strengthening its capital structure. Additionally, the company's board decided to cancel the supervisory board, transferring its responsibilities to the audit and risk management committee, effective upon shareholder approval.