Zheng Quan Zhi Xing·2025-07-22 16:27Core Viewpoint - CGN Power Co., Ltd. is issuing A-share convertible bonds totaling RMB 490 million, with the aim of raising funds for its operations and projects [2][6][18]. Overview - The convertible bond is named "Guangke Convertible Bond" with the code 127110 [2]. - The total issuance amount is RMB 490 million, equivalent to 49 million bonds, each with a face value of RMB 100 [6][18]. - The bonds will be listed on the Shenzhen Stock Exchange on July 25, 2025 [2][6]. - The duration of the bonds is from July 9, 2025, to July 8, 2031 [2][6]. - The conversion period for the bonds starts on January 15, 2026, and ends on July 8, 2031 [2][6]. Company Profile - CGN Power Co., Ltd. is primarily engaged in the construction, operation, and management of nuclear power plants, as well as the sale of electricity generated from these plants [10]. - The company was established on March 25, 2014, and is headquartered in Shenzhen, Guangdong Province [8]. - As of December 31, 2024, the company has a registered capital of RMB 5,049,861.11 million [9]. Financial Performance - As of December 31, 2024, CGN Power's total assets amounted to RMB 31,798 million, with a net profit of RMB 2,421.81 million [10][11]. - The company managed to increase its power generation capacity, with a total generation of 2,421.81 billion kWh in 2024, up from 2,282.90 billion kWh in 2023 [10][11]. Shareholder Structure - The largest shareholder, China General Nuclear Power Group, holds approximately 58.89% of the company's shares [9][10]. - The company has a total of 50,498,611,100 shares outstanding, with no shares held in treasury [9][19]. Bond Issuance Details - The bonds will be offered to existing A-share shareholders on a priority basis, with any remaining bonds available to the public [12][18]. - The underwriting of the bonds is managed by Huatai United Securities Co., Ltd. [12][14]. - The bonds are rated AAA by China Chengxin International Credit Rating Co., Ltd. [5][12].