Zheng Quan Zhi Xing·2025-08-27 15:10Core Viewpoint - China General Nuclear Power Corporation (CGN) reported a decline in net profit and earnings per share for the first half of 2025, while maintaining a stable operational performance in its nuclear power plants [1][5][6] Financial Performance - Operating revenue for the first half of 2025 was approximately CNY 39.17 billion, a decrease of 0.53% compared to the same period last year [1] - Net profit attributable to shareholders decreased by 16.31% to CNY 560.93 million, with a basic earnings per share of CNY 0.118 [1][5] - The weighted average return on equity fell to 4.88%, down 1.19 percentage points from the previous year [1] Operational Highlights - The company managed 28 operational units and 20 units under construction, accounting for 44.46% of the national total installed nuclear power capacity [5] - Operational nuclear units achieved a total electricity generation of 113.36 billion kWh, a 6.93% increase year-on-year [5][6] - The company completed 10 major maintenance outages during the reporting period, with 91.07% of performance indicators in the top quartile globally [5] Market Environment - The demand for electricity continues to grow, supported by national policies aimed at energy security and carbon peak targets by 2030 [4] - The national electricity market is undergoing reforms, with a unified market system being established, which is expected to enhance market dynamics [4] Strategic Initiatives - The company is focusing on enhancing the safety and efficiency of its nuclear power operations while exploring new market opportunities [7][8] - Plans include the development of clean energy projects and the integration of nuclear energy for heating purposes, contributing to environmental benefits [7][8] - The company aims to optimize its capital structure through the issuance of convertible bonds and strategic acquisitions [9][10]