CGN Power shifts Lufeng nuclear project to new subsidiary

CGN Power Co., Ltd. (CGN Power) is changing the implementing entity for its "Guangdong Lufeng Nuclear Power Station Units 5 and 6 Project" to CGN Eastern Guangdong (Lufeng) Nuclear Power Co., Ltd. (Yuedong Nuclear Power), a newly established wholly-owned subsidiary. Previously, the project was managed by CGN Lufeng Nuclear Power Co., Ltd. (Lufeng Nuclear Power). This decision, approved by the board of directors on October 28, 2025, aims to streamline management of nuclear power projects within the same base.

The change involves the transfer of relevant assets and liabilities from Lufeng Nuclear Power to Yuedong Nuclear Power at book net value, ensuring the smooth implementation of the project. This adjustment does not alter the project's investment amount, business scope, or implementation method, and has no material impact on the project's overall execution or the interests of shareholders.

The project, funded by RMB4,897,841,900 in net proceeds from A-share convertible bonds issued in July 2025, remains focused on the construction of the 5th and 6th units of the Guangdong Lufeng Nuclear Power Station. The implementation location, content, and plan for the project will remain unchanged despite the entity transfer.