Huan Qiu Wang·2025-07-25 02:17Core Viewpoint - China General Nuclear Power Corporation (CGN) has successfully issued A-share convertible bonds, raising a total of RMB 4.9 billion, which will be used for the construction of the Guangdong Lufeng Nuclear Power Station units 5 and 6, reflecting strong market confidence and support for the company's growth [1][3][4] Group 1: Bond Issuance Details - The convertible bonds, named "Guangdong Nuclear Convertible Bonds" with code "127110," were listed on the Shenzhen Stock Exchange, attracting significant attention in the capital market and nuclear power sector [1] - The bonds received a AAA credit rating, indicating high credit quality and making them an attractive investment option [1] - The subscription results showed a strong market response, with existing A-share shareholders participating at a rate of 67.78%, and an overall subscription amount exceeding RMB 8.47 trillion, setting a new record for online subscriptions of convertible bonds on the Shenzhen Stock Exchange in 2024 [1][3] Group 2: Project and Technology Overview - The funds raised will be fully allocated to the Guangdong Lufeng Nuclear Power Station project, which plans to construct six 1,000 MW pressurized water reactor units, utilizing the "Hualong One" nuclear technology [3] - The "Hualong One" technology is recognized for its safety, economic efficiency, and advanced features, aligning with international standards for similar reactors [3] - CGN has over 30 years of operational experience in the nuclear power sector and has established a dual listing in both H-shares and A-shares to enhance its market competitiveness and international influence [3][4] Group 3: Financial Performance and Shareholder Returns - Since its listing, CGN has distributed a total of RMB 31.964 billion in dividends, demonstrating strong profitability and a commitment to shareholder returns [4] - The issuance of convertible bonds aligns with the State-owned Assets Supervision and Administration Commission's initiative to enhance the quality of state-owned enterprises, providing necessary funding for sustainable development in the nuclear energy sector [4] - The investment in nuclear power projects is crucial for optimizing China's energy structure, reducing reliance on fossil fuels, and contributing to the country's carbon reduction goals [4]