Core Viewpoint - UBS reports that China General Nuclear Power Corporation (CGN) management indicated that the current nuclear power pricing policy in Guangdong Province negatively impacts operators, but improvements in related policies are expected. The province may consider revising nuclear power pricing rules in the 2026 electricity trading scheme [1] Group 1: Company Impact - CGN is anticipated to be a major beneficiary, as approximately 70% of its equity installed capacity is located in Guangdong Province, which is expected to benefit from potential policy changes [1] - If the current deduction rules are completely eliminated, it could lead to an increase of 289 million yuan or 3% in CGN's profit forecast for the fiscal year 2026 [1] Group 2: Industry Implications - Upstream nuclear equipment suppliers such as Harbin Electric, Yingli Green Energy, and Dongfang Electric may also benefit indirectly due to improved project visibility and potential recovery in profit margins [1]
大行评级｜瑞银：预计广东省核电电价调整将有利中广核电力及上游供应商