Di Yi Cai Jing·2025-05-06 11:41Core Viewpoint - The profitability of China Nuclear Power is significantly impacted by the market-oriented trading of electricity, leading to strategic shifts in project acquisitions and focus areas [1][2]. Group 1: Financial Performance - China Nuclear Power reported a revenue increase of 3.09% to 77.27 billion yuan, but its net profit decreased by 17.38% to 8.78 billion yuan [1]. - China General Nuclear Power (CGN) achieved a revenue growth of 5.16% to 86.80 billion yuan, with a slight net profit increase of 0.83% to 10.81 billion yuan [1]. - Both companies experienced growth in power generation and grid-connected electricity, with China Nuclear Power's total generation reaching a historical high of 216.35 billion kWh, up 3.09% [3]. Group 2: Market Dynamics - The average settlement price for CGN decreased by approximately 3.85% to 0.3869 yuan per kWh due to the decline in market electricity prices [3][4]. - The proportion of market-based electricity transactions for CGN remained stable at around 50.94%, while the comprehensive electricity price for China Nuclear Power fell by 0.8% to 0.416 yuan per kWh [4]. Group 3: Strategic Adjustments - China Nuclear Power plans to shift its strategic focus from solar to wind energy and from the northwest to coastal provinces, pausing acquisitions in areas with high electricity curtailment rates [1][6]. - CGN aims to enhance communication with grid departments to secure favorable power generation arrangements and increase grid-connected electricity [6]. - Both companies are adapting to the evolving electricity market by optimizing their trading strategies and focusing on maintaining revenue while reducing costs [6].