Group 1: Shareholder Engagement and Plans - The company has received general authorization from the annual general meeting for share repurchase and will consider market performance and actual conditions to determine the timing for the repurchase [2][3] - A dividend plan for the "14th Five-Year Plan" period has been announced, covering the year 2025, with a commitment to maintain moderate growth in the dividend payout ratio [3] Group 2: Operational Strategies - The company is focused on lean management practices to control unnecessary expenditures and is adapting to changes in the electricity market to maximize output and achieve better market prices [3] - There are ongoing efforts to enhance performance following the recent electricity price reductions [2]

每经头条（nbdtoutiao）——展望"十五五" | 专访黄群慧：既要重视AI赋能千行百业，也要考量其对就业 的替代效应和带来的收入极化 （记者 曾健辉） 截至发稿，江苏神通市值为69亿元。 每经AI快讯，江苏神通（SZ 002438，收盘价：13.58元）发布公告称，2025年11月19日，江苏神通接受 中金公司调研，公司副总裁章其强先生参与接待，并回答了投资者提出的问题。 2025年1至6月份，江苏神通的营业收入构成为：核电行业占比38.37%，节能环保行业占比18.78%，冶 金行业占比18.45%，能源装备行业占比17.05%，其他业务占比7.35%。 ...

格隆汇11月20日｜Oklo涨5.3%，纳米核能涨6.8%，纽斯卡尔电力涨8.7%。 ...

每经AI快讯，11月20日，美股核电股盘前普涨。Oklo涨5.3%，纳米核能涨6.8%，纽斯卡尔电力涨 8.7%。 ...

据多家日媒19日报道，日本预计本周将批准重启该国最大核电站——新潟县柏崎刈羽核电站。 据日本共同社和《日本经济新闻》援引未具名消息人士的话说，柏崎刈羽核电站预计将于本周获得当地 知事的批准，恢复运行。报道称，柏崎刈羽核电站的七个反应堆中，只有一个将恢复运行。 据报道，自2011年福岛第一核电站发生严重核泄漏事故后，日本政府下令关闭了境内所有核电站。截至 目前，已有14座核电机组恢复运行，主要位于日本西部和南部地区。 柏崎刈羽核电站位于日本西北部新潟县，因跨柏崎和刈羽两地而得名，其装机容量为8212兆瓦，为全球 净发电量最大核电站之一。2011年3月11日大地震后，东电先后报废福岛两座核电站，柏崎刈羽核电站 也自2012年3月起关闭。该核电站7号机组为首都圈等地供电，2017年通过日本原子能规制委员会的安全 审查，但后续因被曝光存在多个安全漏洞而被规制委禁止重启，直至2023年12月检验通过后才解除禁 令。 ...

Core Viewpoint - Egypt has signed a nuclear fuel procurement and comprehensive cooperation agreement with Russia's State Atomic Energy Corporation for the Dabaa Nuclear Power Plant, marking a significant step in Egypt's first nuclear power project [1] Group 1: Agreement Details - The procurement agreement will supply nuclear fuel for the reactor of the first unit of the Dabaa Nuclear Power Plant [1] - The comprehensive cooperation agreement involves collaboration in various fields, including nuclear power and the production of medical radioactive isotopes [1] Group 2: Project Background - The Dabaa Nuclear Power Plant is located in the Matrouh province of Egypt, along the Mediterranean coast, and is the country's first nuclear power project [1] - Russia and Egypt signed a contract in 2017 for the construction of all four nuclear units of the Dabaa Nuclear Power Plant [1] - Construction of the first and second units began in July and November 2022, respectively, while the third unit started in May 2023, and the fourth unit is scheduled to start in January 2024 [1] Group 3: Technical Specifications - All four units will utilize Russia's VVER-1200 reactors, with a total installed capacity of nearly 4.8 gigawatts [1] - Russia is providing 85% of the funding for the Dabaa Nuclear Power Plant project through a 22-year loan, with Egypt covering the remaining portion [1]

Core Viewpoint - Japan is expected to approve the restart of its largest nuclear power plant, the Kashiwazaki-Kariwa Nuclear Power Plant, this week, with only one of its seven reactors set to resume operation [1]. Summary by Sections Nuclear Power Plant Restart - The Kashiwazaki-Kariwa Nuclear Power Plant, located in Niigata Prefecture, has an installed capacity of 8,212 megawatts, making it one of the largest nuclear power plants in the world [1]. - Following the Fukushima Daiichi nuclear disaster in 2011, all nuclear power plants in Japan were ordered to shut down. As of now, 14 nuclear units have resumed operation, primarily in western and southern Japan [1]. - The No. 7 reactor of the Kashiwazaki-Kariwa plant is crucial for supplying electricity to the Tokyo metropolitan area. It passed safety inspections by the Nuclear Regulation Authority in 2017 but faced delays in restarting due to safety concerns until the ban was lifted in December 2023 [1].

Investment Rating - The report recommends a positive investment outlook for the nuclear power industry, indicating a recovery in global nuclear power and an upward trend in uranium prices [1]. Core Insights - Nuclear power technology is continuously upgrading, providing a clean and efficient energy solution. The electrification process and the demand for high-quality electricity driven by AI are reinforcing the strategic position of nuclear power [1][7]. - The global nuclear power sector is experiencing a revival, with increasing uranium demand anticipated due to renewed interest in nuclear energy following geopolitical tensions and the need for energy independence in Europe [7][24]. - Supply constraints are evident, with short-term increases in uranium supply relying on the resumption of production from idled mines. A significant supply gap may emerge around 2030 if new projects do not come online [7][55]. - The report predicts a sustained upward trend in uranium prices, supported by a historical supply-demand gap and recent adjustments in production by leading suppliers [7][68]. Summary by Sections 1. Clean and Efficient Energy Source - Nuclear power primarily relies on fission reactions using U235 as fuel, generating significant energy compared to traditional sources [11]. - Current commercial nuclear projects are mostly based on second and third-generation technologies, with ongoing advancements towards fourth-generation designs [7][16]. 2. Global Nuclear Revival and Growing Uranium Demand - The global nuclear power capacity is approximately 397 GW, with 72 GW under construction. Projections suggest that by 2040, capacities could reach between 552 GW and 966 GW depending on various scenarios [24][53]. - The demand for uranium is expected to increase by 118% by 2040, driven by the resurgence of nuclear power and the need for stable energy sources amid rising electricity consumption from AI technologies [7][53]. 3. Supply-Demand Gap and Rising Uranium Prices - The report highlights that the uranium supply is primarily dependent on newly mined resources, with a significant portion of the current supply coming from existing stockpiles [55]. - The cumulative supply-demand gap from 2015 to 2024 is estimated at around 100,000 tons, with uranium prices rising from approximately $20 per pound in 2016 to around $80 per pound currently [68]. - Future projections indicate that if production does not meet demand, uranium prices are likely to continue their upward trajectory, supported by strategic resource management and market dynamics [68].

据日本共同社和《日本经济新闻》援引未具名消息人士的话说，柏崎刈羽核电站预计将于本周获得当地 知事的批准，恢复运行。报道称，柏崎刈羽核电站的七个反应堆中，只有一个将恢复运行。 据多家日媒19日报道，日本预计本周将批准重启该国最大核电站——新潟县柏崎刈羽核电站。 （文章来源：新华社） 据报道，自2011年福岛第一核电站发生严重核泄漏事故后，日本政府下令关闭了境内所有核电站。截至 目前，已有14座核电机组恢复运行，主要位于日本西部和南部地区。 柏崎刈羽核电站位于日本西北部新潟县，因跨柏崎和刈羽两地而得名，其装机容量为8212兆瓦，为全球 净发电量最大核电站之一。2011年3月11日大地震后，东电先后报废福岛两座核电站，柏崎刈羽核电站 也自2012年3月起关闭。该核电站7号机组为首都圈等地供电，2017年通过日本原子能规制委员会的安全 审查，但后续因被曝光存在多个安全漏洞而被规制委禁止重启，直至2023年12月检验通过后才解除禁 令。 ...

Industry Updates - As of October 2025, the total number of electric vehicle charging facilities in China reached 1,864.5 thousand, a year-on-year increase of 54.0%. Public charging facilities accounted for 453.3 thousand, growing by 39.5%, while private charging facilities reached 1,411.2 thousand, increasing by 59.4% [2] - The first high-pressure natural gas long-distance pipeline pressure recovery power generation project in China has officially commenced operations, marking a breakthrough in the comprehensive utilization of energy in long-distance pipelines [3] - The "Shan Electric into Anhui" ultra-high voltage project has completed the full line in Anhui, with a total length of 323 kilometers and 672 towers constructed, indicating significant progress in the "West-to-East Power Transmission" project [3] - The carbon lithium futures price has surpassed 100,000 yuan per ton, reaching a new high since June 2024, with an intraday increase of over 5% [4] - The first 220 kV substation in the Xiong'an New Area has been put into operation, enhancing the reliability of the power supply and supporting the high-quality development of the area [6] - Germany's natural gas storage capacity is currently at 75%, falling short of expectations, as it was anticipated to reach 81% at the beginning of the heating season [8] - The second phase of the Zhejiang San'ao nuclear power project has officially begun construction, with the first concrete pour for Unit 3 marking the start of the main project [9]