Group 1 - The restructuring of Electric Power Investment Corporation (000958) has successfully passed the shareholders' meeting, marking the completion of the corporate governance process for the merger [1] - The proposed transaction involves the acquisition of 100% equity of Electric Power Nuclear and the divestment of 100% equity of Capital Holdings, allowing the company to become a platform for integrating nuclear power operations under the State Power Investment Corporation [1] - The restructuring is expected to enhance the company's energy business by integrating nuclear, thermal, and renewable energy assets, which will help in reducing operational risks and achieving synergies in market, technology, and management [1] Group 2 - China's nuclear power industry has entered a new phase of active and orderly development, with an accelerated approval process for nuclear power units, establishing nuclear power as a baseload energy source in the new power system [2] - Since 2022, China has approved more than 10 nuclear power units annually, indicating a shift from a conservative to a rapid development policy for nuclear power [2] - Electric Power Nuclear employs various leading nuclear technologies, including AP1000 and CAP1000, with the Shandong Haiyang Nuclear Power Plant set to become the world's largest base using passive pressurized water reactor technology [2] Group 3 - The restructuring project of Electric Power Investment Corporation is one of the earliest central enterprise restructuring projects following the "9.24" merger policy, aligning with central government calls and market demands [3] - Mergers and acquisitions are seen as beneficial for increasing the supply of quality assets and reshaping the valuation of listed companies, enhancing their competitiveness and stability [3] - The restructuring will require further regulatory procedures, including material submissions and regulatory inquiries, which the company plans to execute in an orderly manner to ensure a solid foundation for integration [3]

中原证券（601375）发布研报称，维持核电行业"强于大市"投资评级。2025年，我国核电仍处在加快核 准和建设的历史机遇期，随着核电技术的不断进步和安全性的提高，核电有望成为我国未来能源供应的 重要组成部分。建议从长期投资的视角，持续关注盈利能力稳健和发展前景良好的大型核电运营商中国 广核（003816）(003816.SZ)、中国核电（601985）(601985.SH)。 中原证券主要观点如下： 事件 目前，河南省内没有已建、在建或获批的核电项目 2025年4月27日，经国务院常务会议审议，决定核准三门核电三期工程等5个核电项目，共计核准10台核 电机组。在此次核准的10台核电机组中，中国广核拥有4台，中国核电拥有2台，另外国家电投和中国华 能分别拥有2台。 国家发改委、国家能源局《"十四五"现代能源体系规划》提出，在确保安全的前提下，积极有序推动沿 海核电项目建设，合理布局新增沿海核电项目，到2025年，核电运行装机容量达到7000万千瓦左右。党 的二十大报告也提出，积极安全有序发展核电。2025年2月，国家能源局印发的《2025年能源工作指导 意见》指出核准一批条件成熟的沿海核电项目。 我国核电发电 ...