FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國廣核電力股份有限公司 呈交日期: 2026年2月4日 第 1 頁 共 11 頁 v 1.2.0 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01816 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 11,163,625,000 | RMB | | 1 | RMB | | 11,163,625,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 11,163,625,000 | RMB | | | 1 R ...

2月2日，中国广核涨0.52%，成交额9.73亿元。两融数据显示，当日中国广核获融资买入额9301.83万 元，融资偿还8275.72万元，融资净买入1026.11万元。截至2月2日，中国广核融资融券余额合计5.24亿 元。 融资方面，中国广核当日融资买入9301.83万元。当前融资余额5.22亿元，占流通市值的0.34%，融资余 额低于近一年40%分位水平，处于较低位。 融券方面，中国广核2月2日融券偿还0.00股，融券卖出4.52万股，按当日收盘价计算，卖出金额17.49万 元；融券余量44.46万股，融券余额172.06万元，低于近一年20%分位水平，处于低位。 资料显示，中国广核电力股份有限公司位于广东省深圳市福田区深南大道2002号中广核大厦南楼，成立 日期2014年3月25日，上市日期2019年8月26日，公司主营业务涉及建设、运营及管理核电站,销售该等 核电站所发电力,组织开发核电站的设计及科研工作。主营业务收入构成为：销售电力78.27%，建筑安 装和设计服务19.43%，提供劳务1.41%，商品销售及其他0.78%，其他(补充)0.10%。 截至9月30日，中国广核股东户数22.82万，较上 ...

Investment Rating - The report provides a positive outlook on the electricity and natural gas sectors, highlighting stable revenue mechanisms and growth potential in consumption and pricing [1][10]. Core Insights - The report emphasizes the importance of a refined capacity pricing mechanism for electricity generation, which aims to stabilize revenue and ensure fair compensation for various power sources [4][6]. - It notes that natural gas consumption is expected to grow, supported by favorable weather conditions and improved economic indicators, despite short-term price fluctuations [10][29]. Summary by Sections 1. Electricity: Improved Capacity Pricing Mechanism - The National Development and Reform Commission and the National Energy Administration have issued a notification to enhance the capacity pricing mechanism for electricity generation, addressing mismatches in supply and demand within the new power system [4]. - The new mechanism aims to ensure that different types of power generation, including coal, gas, and new energy sources, receive fair compensation based on their peak supply capabilities [6][7]. - The report highlights that the refined pricing structure will lead to more predictable revenue for power generation companies, reducing volatility in earnings [7]. 2. Natural Gas: Continued Growth in Consumption - The report indicates that the apparent consumption of natural gas in China is projected to grow by 0.1% in 2025, with December consumption reaching 38.57 billion cubic meters, a year-on-year increase of 1.9% [29]. - It notes that the recent cold weather has supported high natural gas prices, with the U.S. Henry Hub spot price at $7.18/mmBtu, while European prices remain elevated due to low inventory levels and geopolitical tensions [10][12]. - The report suggests that the natural gas sector will benefit from a combination of lower costs and improved pricing mechanisms, leading to a recovery in profitability for city gas companies [31]. 3. Investment Recommendations - For coal-fired power, companies like Guodian Power and Inner Mongolia Huadian are recommended due to their stable revenue sources [8]. - Hydropower companies such as Yangtze Power and State Power Investment Corporation are highlighted for their potential to improve profit margins through reduced capital expenditures [8]. - In the nuclear sector, China National Nuclear Power and China General Nuclear Power are suggested for their growth potential as new units are approved [8]. - The report also recommends focusing on integrated natural gas companies like ENN Energy and China Gas Holdings, which are expected to benefit from lower costs and increased sales [31].

Investment Rating - The report maintains a positive outlook on the power and gas sectors, indicating a favorable investment environment due to policy improvements and market dynamics [1]. Core Insights - The report highlights the recent improvements in the capacity pricing mechanism for power generation, which aims to stabilize revenue and enhance the profitability of various power sources [6][10]. - It notes a slight increase in natural gas consumption in 2025, with a projected growth of 0.1% year-on-year, indicating a stable demand outlook for the gas sector [32]. Summary by Sections 1. Power Sector: Capacity Pricing Mechanism Improvement - The National Development and Reform Commission and the National Energy Administration have issued a notification to enhance the capacity pricing mechanism for power generation, addressing mismatches in supply and demand within the new energy system [6]. - The new mechanism introduces differentiated pricing for various types of regulatory power sources, ensuring that their capacity value is adequately compensated [7]. - A unified compensation standard for peak capacity across different power sources is established, promoting rational investment and resource allocation in the power sector [8][10]. 2. Gas Sector: Continued Growth in Natural Gas Consumption - Natural gas consumption in China is expected to reach 385.7 billion cubic meters by December 2025, reflecting a year-on-year increase of 1.9% [32]. - The report emphasizes the impact of cold weather on gas prices, with global prices remaining high, particularly in the U.S. and Europe, which supports the profitability of gas companies [13][19]. - The report suggests that the gas sector will benefit from a combination of lower costs and improved demand, particularly for city gas companies, with recommendations for several key players in the market [34]. 3. Weekly Market Review - The report notes that the public utility, power, gas, and environmental sectors underperformed relative to the Shanghai and Shenzhen 300 index during the week of January 24 to January 30, 2026 [36]. 4. Company and Industry Dynamics - As of the end of 2025, the total installed power generation capacity in China reached 3.89 billion kilowatts, a year-on-year increase of 16.1%, with significant growth in solar and wind power installations [43]. - The report includes various company announcements, highlighting performance forecasts and operational updates from key players in the energy sector [44].

格隆汇2月2日丨根据联交所最新权益披露资料显示，2026年1月29日，中广核电力(01816.HK)获中信证券资产管理有限公司在场内以每股均价3.2046港元增 持1150.8万股，涉资约3687.85万港元。 | 表格序號 | 大股東/董事/最高行政人員名 作出披露的 買入 / 賣出或涉及的 每股的平均價 | | | 持有權益的股份數目 佔已發行的 有關事件的日期相關 | | | --- | --- | --- | --- | --- | --- | | | 原因 股份數目 | | | (請參閱上述*註 | 有投票權股(日/月/年) 權益 | | | | | | 居 | 份百分比 | | But of the control of the property of the control of the control of the control of the control of the control of the control of the control of the contribution of the contrib CS20260130E00061 | 中信证券资产管理有限公司 1101(L ...

Group 1 - The core point of the article is that China General Nuclear Power Corporation (CGN) has filed an international patent application for a method and device related to the simulation of thermal stratification phenomena, with the application number PCT/CN2024/129483 and an international publication date set for January 29, 2026 [1] Group 2 - In 2023, CGN has published two international patent applications, which is consistent with the same period last year [4] - For the first half of 2025, CGN invested 524 million yuan in research and development, representing a year-on-year increase of 67.68% [4]

Core Viewpoint - The successful commissioning of the 220 kV transmission line for the China Nuclear Tianwan 2 million kW tidal flat photovoltaic demonstration project marks a significant milestone in supporting the project's full capacity grid connection and promoting cross-regional green electricity collaboration [1] Group 1: Project Overview - The China Nuclear Tianwan 2 million kW tidal flat photovoltaic demonstration project is the largest offshore photovoltaic project in China, with construction starting in May 2024 [1] - The transmission line project, which began construction in February 2025, spans 19.45 kilometers and includes the installation of 64 new iron towers [1] Group 2: Engineering Innovations - To address challenges such as soft geological conditions and complex construction environments, the project adopted innovative closed-end grouting spiral pile technology, significantly improving construction progress and quality [1] - The design of the transmission line and tower type was optimized to reduce land occupation and minimize environmental impact along the route [1] Group 3: Environmental Impact - Upon full completion, the project is expected to generate approximately 2.2 billion kWh of green electricity annually, equivalent to saving about 680,000 tons of standard coal and reducing carbon dioxide emissions by 1.77 million tons [1]

Group 1 - CITIC Securities-Kaiyuan Single Asset Management Plan increased its stake in China General Nuclear Power (01816) by 12.932 million shares at an average price of HKD 3.1201 per share, totaling approximately HKD 40.3491 million [1][3] - After the increase, the total number of shares held is approximately 1.685 billion, with a new holding percentage of 15.09% [1][3]

Group 1 - The core point of the news is that China General Nuclear Power Corporation (CGN Power) has seen an increase in shareholding by CITIC Securities - Kaiyuan Single Asset Management Plan, which raised its stake from 14.98% to 15.09% after purchasing 12.932 million shares at an average price of HKD 3.1201 per share, totaling approximately HKD 40.35 million [1][2] - After the transaction, CITIC Securities - Kaiyuan Single Asset Management Plan now holds a total of 1,685,061,000 shares in CGN Power [1] - The transaction occurred on January 26, 2026, as per the latest disclosure from the Hong Kong Stock Exchange [1]

Policy Developments - The National Energy Administration plans to establish a special working group for "Nuclear Power" under the China-Shanghai Cooperation Organization energy cooperation framework, aiming to enhance practical cooperation in the energy sector by organizing and implementing the "Double Thousand" projects[5]. - The first four special working groups will focus on "Nuclear Power," "Oil and Gas," "Coal," and "Renewable Energy and Electricity," with potential for additional groups in the future[5]. Nuclear Fusion Breakthroughs - China's "artificial sun," the EAST (Experimental Advanced Superconducting Tokamak), confirmed the existence of a "density free zone" in its experiments, providing critical physical evidence for high-density operation in magnetic confinement fusion devices[5]. - The research team developed a theory model (PWSO) that identifies the role of boundary impurities in triggering radiation instability, which is crucial for understanding density limits in plasma physics[5]. Nuclear Power Plant Developments - The first nuclear fuel loading for the Guangdong Taipingling Nuclear Power Plant Unit 1 has officially begun, marking a transition from construction to commissioning phase, crucial for achieving grid connection[5]. - The Zhangzhou Nuclear Power Unit 2 has commenced commercial operation, with an annual output capacity of 10 billion kWh, reducing CO2 emissions by approximately 8.16 million tons[6]. Industry Collaborations and Innovations - A joint laboratory for "Fusion Efficient Compact Heat Exchange Equipment" has been established between Hefei Energy Research Institute and Lanshi Group, focusing on advancing fusion power generation technology[7]. - The Fujian Nuclear Power signed a cooperation framework agreement with the Fujian Meteorological Bureau to enhance meteorological services for energy projects, aiming to improve risk management against climate impacts[6]. Risk Factors - Potential risks include underperformance of industrial policies and delays in technological breakthroughs and cost reductions[8].