中国广核今年以来股价跌2.85%，近5个交易日跌4.62%，近20日跌2.00%，近60日涨6.23%。 机构持仓方面，截止2025年9月30日，中国广核十大流通股东中，香港中央结算有限公司位居第二大流 通股东，持股74.87亿股，相比上期减少6.21亿股。华泰柏瑞沪深300ETF（510300）位居第九大流通股 东，持股1.34亿股，相比上期减少672.98万股。易方达沪深300ETF（510310）位居第十大流通股东，持 股9682.24万股，相比上期减少307.55万股。 资料显示，中国广核电力股份有限公司位于广东省深圳市福田区深南大道2002号中广核大厦南楼，成立 日期2014年3月25日，上市日期2019年8月26日，公司主营业务涉及建设、运营及管理核电站,销售该等 核电站所发电力,组织开发核电站的设计及科研工作。主营业务收入构成为：销售电力78.27%，建筑安 装和设计服务19.43%，提供劳务1.41%，商品销售及其他0.78%，其他(补充)0.10%。 责任编辑：小浪快报 中国广核所属申万行业为：公用事业-电力-核力发电。所属概念板块包括：中特估、中字头、绿色电 力、核污染防治、央企改革等。 ...

Core Viewpoint - The fixed asset investment in China has shown a decline of 1.7% year-on-year from January to October 2023, but when adjusted for price factors, there is still a slight growth in the physical volume of investment [1][3]. Group 1: Investment Trends - The slowdown in investment growth is attributed to multiple factors, including a complex external environment, intense domestic market competition, and declining investment returns, leading to cautious decision-making among market participants [3]. - Real estate investment has a significant impact on overall investment growth, with a year-on-year decline of 14.7% from January to October 2023, which has pulled down total investment growth by 3 percentage points [3][4]. Group 2: Investment Structure - Despite the slowdown, the investment structure is improving, particularly in the manufacturing sector, which saw a year-on-year growth of 2.7% from January to October 2023, accounting for 25.6% of total investment [4]. - High-end industries are experiencing increased investment, with notable growth in aerospace and information services, which grew by 19.7% and 32.7% respectively [4]. Group 3: Future Investment Potential - China still has significant investment potential and space for growth, as it aims to reach the level of a moderately developed country, necessitating continued investment in various sectors [5]. - Key areas for future investment include enhancing the foundation of the real economy, promoting technological and industrial innovation, addressing regional development imbalances, and improving public services in education, healthcare, and housing [5].

Core Viewpoint - China General Nuclear Power Corporation (CGN) has shown a mixed performance in stock price and financial results, with a slight increase in stock price recently but a decline in revenue and net profit year-on-year [1][2]. Financial Performance - As of September 30, 2025, CGN reported operating revenue of 59.723 billion yuan, a year-on-year decrease of 4.09% [2]. - The net profit attributable to shareholders was 8.576 billion yuan, reflecting a year-on-year decline of 14.10% [2]. - Cumulative cash dividends since CGN's A-share listing amount to 26.057 billion yuan, with 13.938 billion yuan distributed over the past three years [3]. Stock Market Activity - On November 5, CGN's stock price increased by 2.01%, reaching 4.07 yuan per share, with a trading volume of 350 million yuan and a turnover rate of 0.22% [1]. - The total market capitalization of CGN is approximately 205.529 billion yuan [1]. - Year-to-date, CGN's stock price has risen by 0.87%, with a 12.43% increase over the past 20 trading days [1]. Shareholder Structure - As of September 30, 2025, CGN had 228,200 shareholders, a decrease of 3.46% from the previous period [2]. - The average number of circulating shares per shareholder increased by 3.61% to 174,612 shares [2]. - The second-largest circulating shareholder, Hong Kong Central Clearing Limited, holds 7.487 billion shares, down by 621 million shares from the previous period [3].

Core Viewpoint - China Nuclear Power's stock has experienced a decline of 10.52% year-to-date, with a recent drop of 2.03% on October 31, 2023, indicating potential challenges in the market [1]. Financial Performance - For the period from January to September 2025, China Nuclear Power reported a revenue of 61.635 billion yuan, reflecting a year-on-year growth of 8.16%. However, the net profit attributable to shareholders decreased by 10.42% to 8.002 billion yuan [2]. - Cumulatively, since its A-share listing, China Nuclear Power has distributed a total of 24.280 billion yuan in dividends, with 10.560 billion yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for China Nuclear Power reached 416,300, an increase of 17.80% from the previous period. The average number of circulating shares per shareholder decreased by 15.11% to 45,363 shares [2]. - The top ten circulating shareholders include China Securities Finance Corporation, holding 465 million shares, and Hong Kong Central Clearing Limited, which reduced its holdings by 22.9 million shares to 290 million shares [3].

Core Viewpoint - China General Nuclear Power Corporation (CGN) has experienced a decline in stock price and financial performance, with a notable decrease in revenue and net profit year-on-year, indicating potential challenges in the nuclear power sector [1][2]. Financial Performance - As of September 30, 2025, CGN reported operating revenue of 59.723 billion yuan, a year-on-year decrease of 4.09% [2]. - The net profit attributable to shareholders was 8.576 billion yuan, reflecting a year-on-year decline of 14.10% [2]. - Year-to-date stock price has decreased by 1.36%, with a slight decline of 0.25% over the last five trading days, but a notable increase of 9.64% over the last 20 days and 8.15% over the last 60 days [1]. Shareholder Information - The number of shareholders as of September 30, 2025, was 228,200, a decrease of 3.46% from the previous period [2]. - The average number of circulating shares per shareholder increased by 3.61% to 174,612 shares [2]. - CGN has distributed a total of 26.057 billion yuan in dividends since its A-share listing, with 13.938 billion yuan distributed in the last three years [3]. Stockholder Composition - As of September 30, 2025, the second-largest circulating shareholder was Hong Kong Central Clearing Limited, holding 7.487 billion shares, a decrease of 621 million shares from the previous period [3]. - Huatai-PB CSI 300 ETF and E Fund CSI 300 ETF were among the top ten circulating shareholders, with respective holdings of 134 million shares and 96.822 million shares, both showing a decrease compared to the previous period [3]. Business Overview - CGN is primarily engaged in the construction, operation, and management of nuclear power plants, with electricity sales accounting for 78.27% of its main business revenue [1]. - The company is classified under the public utility sector, specifically in electricity and nuclear power generation [1].

Core Viewpoint - China Nuclear Power is a leading enterprise in the domestic nuclear power industry, with strong technical capabilities and a full industry chain advantage, focusing on the development, investment, construction, operation, and management of nuclear power projects [1] Financial Performance - As of Q3 2025, China Nuclear Power reported revenue of 61.635 billion yuan, ranking first in the industry, surpassing the industry average of 60.679 billion yuan [2] - The company's net profit for the same period was 15.497 billion yuan, also ranking first in the industry, exceeding the industry average of 14.192 billion yuan [2] Profitability and Debt Ratios - The asset-liability ratio for China Nuclear Power in Q3 2025 was 68.94%, higher than the industry average of 64.89% [3] - The gross profit margin was 43.98%, above the industry average of 38.76% [3] Executive Compensation - The chairman, Lu Tiezong, received a salary of 1.5825 million yuan in 2024, a decrease of 206,800 yuan from the previous year [4] - The general manager, Zou Zhengyu, saw a salary increase to 1.6269 million yuan in 2024, up by 18,700 yuan [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 17.80% to 416,300 [5] - The average number of circulating A-shares held per shareholder decreased by 15.11% to 45,400 [5] Operational Highlights - China Nuclear Power's nuclear power generation capacity is steadily increasing, with a year-on-year growth of 11.33% in electricity generation for the first three quarters of 2025 [6] - The company has a robust reserve of green nuclear projects, with 19 nuclear units under construction or approved for construction as of September 30, 2025 [6] Business Outlook - Revenue projections for 2025-2027 are 83.184 billion, 87.985 billion, and 97.135 billion yuan, with expected growth rates of 7.7%, 5.8%, and 10.4% respectively [7] - The expected net profit for the same period is 9.749 billion, 10.239 billion, and 11.230 billion yuan, with corresponding growth rates of 11.1%, 5.0%, and 9.7% [7]

Core Viewpoint - China Nuclear Power's stock price has shown fluctuations, with a recent increase of 2.09%, while the company has experienced a year-to-date decline of 9.64% in stock price [1] Financial Performance - For the first half of 2025, China Nuclear Power reported revenue of 40.973 billion yuan, a year-on-year increase of 9.43%, while net profit attributable to shareholders decreased by 3.66% to 5.666 billion yuan [2] - Cumulative cash dividends since the company's A-share listing amount to 24.280 billion yuan, with 10.560 billion yuan distributed over the past three years [3] Shareholder Structure - As of June 30, 2025, the number of shareholders for China Nuclear Power was 353,400, a decrease of 1.79% from the previous period, with an average of 53,437 circulating shares per shareholder, an increase of 1.83% [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 520 million shares, an increase of 63.117 million shares from the previous period [3]

Core Points - China General Nuclear Power Corporation (CGN) saw a stock price increase of 2.01% on October 27, reaching 4.07 CNY per share, with a total market capitalization of 205.53 billion CNY [1] - The company reported a year-to-date stock price increase of 0.87%, with a 20-day increase of 11.81% [1] - CGN's main business involves the construction, operation, and management of nuclear power plants, with electricity sales accounting for 78.27% of its revenue [1] Financial Performance - For the first half of 2025, CGN achieved operating revenue of 39.167 billion CNY, a year-on-year decrease of 0.53%, and a net profit attributable to shareholders of 5.952 billion CNY, down 16.28% year-on-year [2] - Since its A-share listing, CGN has distributed a total of 26.057 billion CNY in dividends, with 13.938 billion CNY distributed over the last three years [3] Shareholder Information - As of June 30, 2025, CGN had 236,300 shareholders, a decrease of 1.50% from the previous period, with an average of 168,532 circulating shares per shareholder, an increase of 1.53% [2] - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 8.107 billion shares, a decrease of 858 million shares from the previous period [3]

Core Viewpoint - China General Nuclear Power Corporation (CGN) has experienced a decline in stock price and revenue, with a notable decrease in net profit year-on-year, indicating potential challenges in its financial performance and market position [1][2]. Financial Performance - As of June 30, CGN reported a revenue of 39.167 billion yuan, a year-on-year decrease of 0.53%, and a net profit attributable to shareholders of 5.952 billion yuan, down 16.28% compared to the previous year [2]. - The company's stock price has decreased by 3.84% year-to-date, with a slight increase of 1.31% over the last five trading days and a 4.30% increase over the last 20 days [1]. Shareholder Information - As of June 30, CGN had 236,300 shareholders, a decrease of 1.50% from the previous period, with an average of 168,532 circulating shares per shareholder, an increase of 1.53% [2]. - The company has distributed a total of 26.057 billion yuan in dividends since its A-share listing, with 13.938 billion yuan distributed over the last three years [3]. Stock Market Activity - On October 20, CGN's stock price was 3.88 yuan per share, with a trading volume of 1.79 billion yuan and a turnover rate of 0.12% [1]. - The net outflow of main funds was 16.7372 million yuan, with significant buying and selling activity from large orders [1]. Business Overview - CGN, established on March 25, 2014, and listed on August 26, 2019, is primarily engaged in the construction, operation, and management of nuclear power plants, with 78.27% of its revenue coming from electricity sales [1]. - The company operates within the public utility sector, specifically in the electricity and nuclear power generation industry, and is involved in various concept sectors including green electricity and nuclear pollution prevention [1].

Core Insights - China General Nuclear Power Corporation (CGN) has seen a stock price increase of 2.09% on October 14, reaching 3.91 CNY per share, with a total market capitalization of 197.45 billion CNY [1] - The company reported a year-to-date stock price decline of 3.10%, but has experienced a 7.71% increase over the last five trading days [1][2] - CGN's main business involves the construction, operation, and management of nuclear power plants, with electricity sales accounting for 78.27% of its revenue [1] Financial Performance - For the first half of 2025, CGN achieved operating revenue of 39.167 billion CNY, a year-on-year decrease of 0.53%, and a net profit attributable to shareholders of 5.952 billion CNY, down 16.28% year-on-year [2] - The company has distributed a total of 26.057 billion CNY in dividends since its A-share listing, with 13.938 billion CNY distributed over the last three years [3] Shareholder Structure - As of June 30, 2025, CGN had 236,300 shareholders, a decrease of 1.50% from the previous period, with an average of 168,532 circulating shares per shareholder, an increase of 1.53% [2] - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 8.107 billion shares, which is a decrease of 858 million shares from the previous period [3]