证券研究报告 公用事业 | 电力 非金融|公司点评报告 hyzqdatemark 2025 年 09 月 04 日 证券分析师 | 基本数据 | | | | 09 | | 02 | 日 | 2025 | 年 | 月 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 收盘价（元） | | | | | | 8.88 | | | | | | 一 年 内 最 低 | 最 | 高 | / | | 12.18/8.66 | | | | | | | （元） | | | | | | | | | | | | 总市值（百万元） | | | | | 182,643.86 | | | | | | | 流通市值（百万元） | | | | | 167,683.57 | | | | | | | 总股本（百万股） | | | | | 20,568.00 | | | | | | | 资产负债率（%） | | | | | | 69.97 | | | | | | 每股净资产（元/股） | | | | | | 5.51 | | | | | | 资料来源：聚 ...

核电板块开盘活跃，南方路机、华银电力竞价涨停，常辅股份涨超10%，融发核电、中广核技、南风股 份等均大幅高开，消息上，2025年国内核电项目审批首次开闸：国常会核准10台新机组，拉动超2000亿 投资。 ...

Core Insights - The State Council has approved the construction of 10 new nuclear power units, marking the first approval of domestic nuclear projects in 2025, which is expected to drive over 200 billion yuan in investment [1] Investment and Economic Impact - The approved projects include the Zhejiang Sanmen Phase III project and will utilize domestically developed third-generation nuclear technology, specifically featuring 8 units of the Hualong One design [1] - Each new third-generation nuclear unit is estimated to require an investment of approximately 20 billion yuan, leading to a total investment exceeding 200 billion yuan for the newly approved units [1] Safety and Regulatory Measures - The meeting emphasized the necessity of ensuring safety in nuclear power development, mandating that construction and operational responsibilities be firmly held by participating and owning units [1] - It was highlighted that nuclear power units must be built and operated according to the highest global safety standards, with a focus on enhancing safety supervision capabilities [1]