Group 1 - FTSE Russell announced changes to the FTSE China 50 Index and FTSE China A50 Index, effective after market close on September 19, 2025 [2][3] - The FTSE China A50 Index will include new A-shares: BeiGene Ltd (688235.SH), Neway Valve (300502.SZ), WuXi AppTec (603259.SH), and Zhongji Xuchuang (300308.SZ) [2] - The index will remove A-shares: China National Nuclear Power (601985.SH), China Unicom (600050.SH), Guodian Nanjing Automation (600406.SH), and Wanhua Chemical (600309.SH) [2] Group 2 - The FTSE China A50 Index is a significant reference for overseas investors, and historical adjustments have attracted substantial passive capital from abroad [3] - The FTSE China 50 Index remains unchanged, with only the list of candidate stocks updated, including China Hongqiao (01378), Hansoh Pharmaceutical (03692), Huatai Securities (06886), JD Health (06618), and New China Life Insurance (01336) [3]

Group 1 - FTSE Russell announced changes to the FTSE China 50 Index and FTSE China A50 Index, effective after market close on September 19, 2025 [1] - The FTSE China A50 Index will include companies such as BeiGene Ltd (688235.SH), Xinyisheng (300502.SZ), WuXi AppTec (603259.SH), and Zhongji Xuchuang (300308.SZ) [1] - Companies removed from the FTSE China A50 Index include China National Nuclear Power (601985.SH), China Unicom (600050.SH), Guodian Nanjing Automation (600406.SH), and Wanhua Chemical (600309.SH) [1] Group 2 - The FTSE China A50 Index serves as an important reference for overseas investors, and historical adjustments to the index typically attract significant passive capital from abroad [1] - The FTSE China 50 Index remains unchanged, with only the list of candidate stocks updated to include China Hongqiao Group (01378), Hansoh Pharmaceutical (03692), Huatai Securities (06886), JD Health (06618), and New China Life Insurance (01336) [1]

证券日报网讯 9月2日晚间，中国核电发布公告称，公司计划于2025年9月11日14：00-15：00召开2025 年半年度业绩投资者交流会。 （文章来源：证券日报） ...

Summary of Key Points Core Viewpoint - On September 2, a total of 33 target price adjustments were made by brokerages for listed companies, with notable increases in target prices for Zhongcai International, Zhucheng Technology, and Guangyun Technology, reflecting significant potential upside in their respective sectors [1][2]. Group 1: Target Price Increases - Zhongcai International received a target price increase of 43.65%, with a new target price of 13.00 yuan [2]. - Zhucheng Technology's target price was raised by 41.51%, now set at 75.00 yuan [2]. - Guangyun Technology saw a target price increase of 35.72%, with a new target price of 22.00 yuan [2]. Group 2: Brokerage Recommendations - A total of 35 listed companies received brokerage recommendations on September 2, with notable mentions including Datang Power and China General Nuclear Power, each receiving one recommendation [3]. - Guangyun Technology's rating was upgraded from "Hold" to "Increase" by CITIC Securities [5]. Group 3: Rating Adjustments - One company, Yihua Tong, had its rating downgraded from "Buy" to "Hold" by Changjiang Securities [6]. - The only company receiving a new coverage rating was Chifeng Gold, which was rated "Buy" by CITIC Securities [7].

Group 1: Investor Communication - China Nuclear Power Co., Ltd. plans to hold an investor communication meeting on September 11, 2025, from 14:00 to 15:00 to discuss its 2025 semi-annual performance report [1][2] - The meeting will take place at the headquarters of China National Nuclear Corporation in Shanghai [1] - Key participants will include the chairman, independent directors, chief accountant, and other company leaders [1] Group 2: Share Buyback Progress - The company approved a share buyback plan on April 27, 2025, with a budget of between RMB 300 million and RMB 500 million, at a maximum price of RMB 13.98 per share [6] - As of August 31, 2025, the company has repurchased a total of 15,531,908 shares, representing 0.08% of the total share capital, with a total expenditure of approximately RMB 144.81 million [7] - The highest purchase price was RMB 9.65 per share, and the lowest was RMB 8.91 per share [7]

Group 1 - The company announced a share repurchase plan with a proposed amount between 300 million yuan and 500 million yuan, initiated by Chairman Lu Tiezong on April 29, 2025 [1] - The repurchase period is set from April 28, 2025, to April 27, 2026, and the shares will be used for employee stock ownership plans or equity incentives [1] - As of August 31, 2025, the company has repurchased a total of 15,531,908 shares, accounting for 0.08% of the total share capital, with a total expenditure of approximately 144.81 million yuan [1] Group 2 - The maximum repurchase price is capped at 13.98 yuan per share, and the repurchase will be conducted through centralized bidding [1] - The highest purchase price recorded was 9.65 yuan per share, while the lowest was 8.91 yuan per share [1] - The company will continue to make repurchase decisions based on market conditions and will fulfill information disclosure obligations in accordance with relevant regulations [1]

Summary of China Nuclear Power Conference Call Company Overview - **Company**: China Nuclear Power - **Industry**: Nuclear and Renewable Energy Key Points Financial Performance - In the first half of 2025, China Nuclear Power achieved revenue of **33.373 billion yuan**, a year-on-year increase of **6.54%** [2] - The net profit attributable to shareholders was **5.322 billion yuan**, up **9.48%** year-on-year [2] - The total electricity generated was **121.776 billion kWh**, with revenue from nuclear power reaching **40.973 billion yuan** [4] Nuclear Power Operations - The company currently operates **26 nuclear units** with a total installed capacity of **25 million kW** [4] - There are **18 units** under construction or approved for construction, with a combined capacity of **21.859 million kW** [2] - By 2031, the company expects to have a total operational capacity of **46.859 million kW**, representing an **87%** increase from current levels [2][5] Renewable Energy Business - As of June 30, 2025, the company had **33.2249 million kW** of renewable energy capacity in operation, including **10.3418 million kW** of wind and **22.8831 million kW** of solar [6] - The electricity generated from renewable sources was **21.915 billion kWh**, a **35.76%** increase year-on-year [6] - However, net profit from renewable energy dropped **66.28%** to **344 million yuan** due to regional power restrictions and increased depreciation costs [6] Market Dynamics - The average market price for renewable energy sales was approximately **0.28 yuan/kWh**, slightly down by **0.01 yuan/kWh** year-on-year [9] - The company anticipates stable electricity prices in Jiangsu province next year, with a gradual increase in market share [10] Cost Management - Uranium fuel costs are expected to remain stable between **60-80 USD** due to long-term contracts with suppliers [3][11] - The company has implemented cost control measures, which contributed to better-than-expected performance in net profit despite challenges [20] Strategic Planning - The company plans to focus on increasing wind power projects while reducing the scale of solar installations in its **15th Five-Year Plan** [4][14] - Following the implementation of Document 136, the company is optimizing project layouts and shifting focus from the northwest to the southeast coastal areas for better market conditions [16] Dividend Policy - The company maintains a mid-term dividend policy with a payout ratio of no less than **35%**, which is expected to gradually increase [23] - The dividend payout ratio for 2025 reached **41%**, with projections of **70-80%** if only existing units are operated [24] Challenges and Risks - Some renewable projects in the northwest are facing losses due to power restrictions and declining market prices, but overall losses are manageable [25] - The company is exploring solutions to address the issue of electricity transmission lagging behind power generation in the northwest region [19] Future Outlook - The capital expenditure for renewable energy is expected to remain stable but gradually decrease as projects are completed [17] - The company is preparing for the merger of its subsidiary, China Nuclear Huaneng, with Xinhua Hydropower, which is currently in the planning stage [13] This summary encapsulates the key insights from the conference call, highlighting the company's performance, strategic direction, and market conditions.

Group 1 - The core point of the article is that China Nuclear Power announced a share buyback plan, with a total of 15,531,908 shares repurchased as of August 31, 2025, representing 0.08% of the company's total share capital [2] Group 2 - The announcement was made on the evening of September 2, indicating the company's ongoing commitment to enhancing shareholder value through share repurchase [2] - The repurchased shares reflect the company's strategy to manage its capital structure and potentially improve earnings per share in the future [2]

Summary of Key Points Core Viewpoint - China Nuclear Power (601985.SH) has announced its share repurchase program, indicating a commitment to enhancing shareholder value through buybacks [1] Company Actions - As of August 31, 2025, the company has repurchased a total of 15.53 million shares, which represents 0.08% of its current total share capital [1] - The highest purchase price for the repurchased shares was 9.65 CNY per share, while the lowest was 8.91 CNY per share [1] - The total amount spent on the share repurchase, excluding commissions and other transaction fees, is 145 million CNY [1]

重要内容提示： 证券代码：601985 证券简称：中国核电 公告编号：2025-066 中国核能电力股份有限公司 关于股份回购进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 2025 年 8 月，公司以集中竞价交易方式回购股份数量为 4,418,908 股，支付的 总金额为 39,872,848.24 元。 截至 2025 年 8 月 31 日，公司累计回购股份数量为 15,531,908 股，占公司目 前总股本的比例为 0.08%，购买的最高价为 9.65 元/股，购买的最低价为 8.91 元/ 股，已支付的总金额为 144,809,184.04 元（不含佣金等交易费用）。上述回购进展 符合法律法规的规定及公司披露的回购股份方案的要求。 三、其他事项 公司将严格按照《上市公司股份回购规则》《上海证券交易所上市公司自律监 管指引第 7 号——回购股份》等相关规定，在回购期限内根据市场情况择机做出 回购决策并予以实施，同时根据回购股份事项进展情况及时履行信息披露义务， 敬请广大投资者注意投资风险。 特此公告。 | 回购 ...