中国核电（601985）公告，2024年营业收入772.72亿元，同比增长3.09%。归属于上市公司股东的净利 润87.77亿元，同比下降17.38%。公司拟实施利润分配，每10股派发现金红利1.6元(含税)。 ...

Core Viewpoint - The nuclear power industry in China is expected to experience significant growth, with a strong investment rating maintained by Zhongyuan Securities, highlighting the importance of nuclear power in future energy supply [1][3] Group 1: Project Approvals - On April 27, 2025, the State Council approved five nuclear power projects, totaling ten nuclear units, with China General Nuclear Power Group (CGN) and China National Nuclear Power (CNNP) being the primary beneficiaries [1] - CGN received approval for four units, including two units in Guangdong and two in Guangxi, all utilizing Hualong One technology, with capacities of 1.2 million kW and 1.208 million kW respectively [1] - CNNP was approved for two units in the Zhejiang Sanmen project, also using Hualong One technology, with a capacity of 1.215 million kW each [2] Group 2: Industry Growth and Capacity - Nuclear power is recognized as a stable energy source in China's new power system, with a utilization hour rate of 7,805.74 hours in 2024, contributing 4.73% to the national power generation [3] - The "14th Five-Year Plan" aims for a nuclear power installed capacity of approximately 70 million kW by 2025, with a focus on coastal projects [3] - As of April 27, 2025, China has approved 28 new nuclear projects since 2022, with a total of 102 operational, under construction, and approved units, making it the world's largest nuclear power capacity at 113 million kW [3] Group 3: Regional Developments - Currently, there are no nuclear projects approved or under construction in Henan Province, which is not included in the national nuclear construction plan due to cautious evaluation policies for inland nuclear development [4]

Core Viewpoint - The Shanghai Composite Index opened lower and fluctuated, with the CSI 300 Utilities Index reported at 2638.18 points, reflecting a 3.14% increase over the past month, a 4.64% increase over the past three months, and a 2.53% decline year-to-date [1] Group 1: Index Performance - The CSI 300 Utilities Index is categorized into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries, providing a comprehensive analysis tool for investors [1] - The index is based on a sample of 300 stocks from the CSI 300, with a base date of December 31, 2004, and a base point of 1000.0 [1] Group 2: Index Holdings - The top ten weights in the CSI 300 Utilities Index are: - Changjiang Electric Power (48.17%) - China Nuclear Power (10.24%) - Three Gorges Energy (8.19%) - Guodian Power (5.45%) - State Power Investment (4.79%) - Sichuan Investment Energy (4.38%) - Huaneng International (4.21%) - China General Nuclear Power (3.7%) - Zhejiang Energy Power (3.12%) - Huadian International (2.67%) [1] Group 3: Market Composition - The market composition of the CSI 300 Utilities Index shows that the Shanghai Stock Exchange accounts for 95.94%, while the Shenzhen Stock Exchange accounts for 4.06% [2] - In terms of industry composition, hydropower constitutes 59.60%, thermal power 15.45%, nuclear power 13.94%, wind power 8.55%, and gas power 2.46% [2] Group 4: Sample Adjustment - The index samples are adjusted biannually, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made in response to changes in the CSI 300 Index samples or special events affecting sample companies [2]

Core Insights - The national trade friction response meeting highlighted that China is entering a high-intensity phase of trade friction, emphasizing the need for confidence, strategy, and innovation in the face of challenges [1] - China's nuclear power industry has successfully reduced reliance on foreign technology, achieving over 95% localization in key equipment and demonstrating significant advancements in self-developed technologies [1][2] - The nuclear power sector has matured its supply chain, with major companies like China General Nuclear Power Group (CGN) achieving 100% domestic equipment capability for nuclear power plants [1][2] Industry Developments - Since 2016, particularly after the U.S. placed certain Chinese state-owned enterprises on the entity list in 2019, the nuclear power sector has accelerated its self-sufficiency efforts across various fields, including equipment manufacturing and software design [1] - Domestic manufacturers such as Dongfang Electric and Shanghai Electric have developed the capability to produce core equipment like pressure vessels and steam generators [2] - The nuclear fuel component production has transitioned to domestic technology, with ongoing advancements in fuel component research and development [2] Strategic Responses - The nuclear power industry has adopted a collaborative approach with upstream and downstream partners to identify and address potential vulnerabilities in the supply chain due to trade tensions [2] - The industry has expressed confidence in its ability to compete with global leaders like the U.S. and France, asserting that it can not only match but also surpass their nuclear technology in several areas [2]

Core Viewpoint - The approval of 10 new nuclear power units in China marks a significant shift from "importing and digesting" technology to "independent output," showcasing the advancement of domestic nuclear technology [3][4]. Group 1: Nuclear Power Project Approvals - The recent approval includes 10 nuclear power units across five projects, with significant participation from major state-owned enterprises such as China National Nuclear Corporation and China General Nuclear Power Group [3]. - The approved units consist of 8 "Hualong One" reactors and 2 CAP1000 reactors, indicating a strong emphasis on domestically developed technology [3][4]. - The approval process for nuclear projects has accelerated, with 31 units approved from 2022 to 2024, of which 20 are based on "Hualong One" technology [3]. Group 2: Investment and Economic Impact - The total investment for the newly approved nuclear units is estimated to reach approximately 200 billion yuan, with equipment investment accounting for over 40% of this total [5]. - The nuclear power sector is expected to drive significant investment, with the construction of these units benefiting established players in the supply chain due to high barriers for new entrants [5]. Group 3: International Trends and Domestic Position - The global consensus on the revival of nuclear energy is reflected in commitments made by 31 countries to triple nuclear capacity by 2050 [7]. - China's nuclear power capacity has surpassed that of traditional nuclear power leaders like Russia, France, and the United States, with a total operational capacity of 113 million kilowatts [7]. - The rapid pace of nuclear project approvals positions China as a leader in nuclear energy development, with a total of 112 units either operational or under approval [7]. Group 4: Contribution to Energy Supply - Nuclear power has become a crucial baseload power source in China's eastern coastal regions, contributing nearly 5% of the national electricity generation despite only accounting for less than 2% of installed capacity [8].

4月27日，经国务院常务会议审议，决定核准浙江三门三期工程等核电项目。随后，网传此次核准的项 目具体为浙江三门三期工程，福建霞浦压水堆1、2号机组，山东海阳三期工程，广东台山二期工程，广 西防城港三期工程等5个核电项目共计10台机组。对此，中国证券报.中证金牛座记者向中国核电 （601985）方面求证，中国核电方面独家回应称，此次获批的机组确为10台。至于10台机组最终以什么 渠道正式发布，公司目前不太清楚，中国核电会公告本公司获核准的核电机组。4月28日早间，中国核 电、中国广核（003816）相继公告旗下核电项目获核准。截至目前，两家上市公司公告的核电机组数合 计为6台。(中证金牛座) ...

本公司目前无其他任何应披露而未披露的信息。有关公司信息以公司在上海 证券交易所网站（www.sse.com.cn）及公司指定信息披露媒体的相关公告为准， 敬请广大投资者理性投资，注意投资风险。 特此公告。 中国核能电力股份有限公司董事会 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个别及连带责任。 据中央人民政府网站（www.gov.cn）报道，2025 年 4 月 27 日，经国务院常 务会议审议，决定对已经纳入国家规划且经过全面安全评估审查的浙江三门核电 项目 5 号、6 号机组予以核准。 公司旗下的三门第二核电有限公司作为核准工程的业主单位，负责项目投资、 建设及运营管理。本期工程拟建设 2 台"华龙一号"压水堆核电机组，单台机组额 定电功率 1,215MW。 目前，工程现场正在稳妥有序推进开工前各项准备工作。 | 证券代码：601985 | 证券简称：中国核电 | | | 编号：2025-024 | | --- | --- | --- | --- | --- | | 债券代码：138547 | 债券简称：22 | 核电 | Y ...

Core Insights - The article highlights the 70th anniversary of China's nuclear industry and the introduction of the "Hemu System," a domestically developed digital control platform for nuclear power plants, which is considered a significant advancement in the field [1][2]. Group 1: Technological Advancements - The "Hemu System" is China's first self-developed nuclear-grade digital control platform, filling a gap in the country's nuclear digital control systems and representing the third generation of nuclear technology [1]. - The system has been implemented in 31 nuclear power units, saving nearly 30 billion yuan in construction costs [1]. - The platform features high reliability, flexible expansion capabilities, intelligent diagnostics, and stringent certification, making it a top-tier solution in the industry [2]. Group 2: Future Developments - The company is working on a new generation of 100% domestically produced digital control systems (DCS) that will be advanced and universally applicable across different reactor types [2]. - The integration of control technology, information technology, operational technology, simulation technology, and artificial intelligence is being emphasized to enhance safety and efficiency in nuclear power operations [2]. Group 3: Strategic Importance - The company expresses pride in contributing to national strategies and commitments to carbon neutrality while supporting the development of China's nuclear power sector [3].

Group 1 - The A-share market's three major indices closed mixed, with the CSI 300 Utilities (secondary industry) index at 2610.44 points [1] - The CSI 300 Utilities index has increased by 3.88% over the past month, 2.74% over the past three months, and has decreased by 3.55% year-to-date [1] - The CSI 300 index categorizes its 300 sample stocks into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries [1] Group 2 - The top ten weights in the CSI 300 Utilities index are: Changjiang Electric Power (48.15%), China Nuclear Power (10.39%), Three Gorges Energy (8.2%), Guodian Power (5.46%), State Power Investment (4.72%), Chuanwei Energy (4.36%), Huaneng International (4.2%), China General Nuclear Power (3.8%), Zhejiang Energy (3.06%), and Huadian International (2.62%) [1] - The market share of the CSI 300 Utilities index is 95.84% from the Shanghai Stock Exchange and 4.16% from the Shenzhen Stock Exchange [2] - The industry composition of the CSI 300 Utilities index includes hydropower (59.47%), thermal power (15.34%), nuclear power (14.19%), wind power (8.56%), and gas (2.43%) [2] Group 3 - The index sample is adjusted every six months, with adjustments implemented on the next trading day after the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made when the CSI 300 index samples are modified [2] - Special events affecting sample companies may lead to changes in industry classification, and companies that are delisted will be removed from the index sample [2]

同时，中国已形成较为成熟的核安全监管制度，独立有效地开展许可审评、监督执法、监测应急、经验 反馈等监管活动，其中对核电厂实行选址、建造、运行、退役分阶段的核安全许可制度和严格的核安全 技术审查，对反应堆操纵员、核级焊工、无损检验等特殊工作人员实施严控的资质管理。 "核安全容不得一粒沙子"，侯英东强调，将核电厂核安全重要活动纳入监管范围，实施严格的全天候驻 厂监督。对弄虚作假和违规操作"零容忍"，动真碰硬惩处违法行为。(完) 侯英东说，目前，中国新建机组均采用三代及以上核电技术，AP1000、EPR、"华龙一号""国和一号"、 高温气冷堆等新型核电机组设计安全水平进一步提高。根据世界核电运营者协会(WANO)最新统计，中 国大陆地区核电机组指标82.18%达到优秀值(前1/10)，84.79%达到先进值(前1/4)，92.07%达到中值(前 1/2)，继续保持全球领先水平。 "良好的安全业绩离不开有效的监管，"侯英东说，坚持从高从严的原则，注重接轨国际，参照国际原子 能机构的安全标准，结合中国实际，建立了完善的核动力厂核安全法规标准体系，坚持成熟设计，纵深 防御，考虑各种风险，设置多种安全屏障，强化有效开展核安 ...