CNNP(SH:601985) Chang Jiang Shang Bao·2025-07-08 22:59Core Viewpoint - China Nuclear Power's electricity generation has rapidly increased, significantly supporting domestic economic development, with the first half of 2025 achieving a record generation of 1217.76 billion kWh, surpassing 1200 billion kWh for the first time [1][5]. Generation Performance - In the first half of 2025, the company's controlled nuclear power generation reached 998.61 billion kWh, a year-on-year increase of 12.01%, while renewable energy generation was 219.15 billion kWh, up 35.76% [1][5]. - The total electricity generation for the first half of 2025 was 1217.76 billion kWh, representing a year-on-year growth of 15.65%, with grid electricity sales increasing by 15.92% to 1151.04 billion kWh [5][6]. Capacity Expansion - As of June 2025, the company's renewable energy installed capacity reached 43.67 million kW, nearing the nuclear power capacity of 46.86 million kW [1][6]. - The company has actively developed renewable energy, with a significant increase in installed capacity from 29.59 million kW at the end of 2024 to 33.22 million kW by June 2025, marking a growth of 3.62 million kW in just six months [6]. Strategic Initiatives - The company is pursuing a three-pronged development strategy, focusing on nuclear energy, renewable energy, and emerging strategic industries, with ongoing projects and approvals for new nuclear power units [6][7]. - The company has made strategic investments in emerging industries, including a 1 billion yuan investment in China Fusion Energy Co., aiming to advance the development of fusion energy [7][8]. Financial Performance - Since its A-share listing in 2015, the company has accumulated profits of approximately 67.7 billion yuan and has distributed cash dividends totaling about 24.3 billion yuan, with an average dividend payout ratio of 35.87% [2][8].