2025-09-11 13:12Group 1: National Policy and Company Strategy - The national government supports the safe and orderly development of nuclear power, with plans to advance major projects such as coastal nuclear power by March 13, 2025 [2] - The company is actively preparing for project approvals, aiming to meet the necessary conditions for more nuclear power projects [2] Group 2: Market Performance and Financial Metrics - In the first half of 2025, the average market price of electricity decreased compared to the same period last year, primarily due to declines in the Guangdong and Guangxi regions [2] - The company experienced a reduction in maintenance days, totaling approximately 414 days, which is a decrease of 109 days year-on-year, attributed to different maintenance types and the application of new technologies [2] - The company achieved a VAT refund of approximately 500 million yuan in the first half of 2025, which represents a decline compared to the previous year [2] Group 3: Financial Health and Taxation - As of June 30, 2025, the company's debt-to-asset ratio was 60.2%, an increase of 0.9 percentage points from the beginning of the year, with expectations of further increases as construction projects progress [3] - The increase in income tax expenses in the first half of 2025 was due to the expiration of tax incentives for certain units and adjustments in VAT refund tax management, which will have a relatively small impact moving forward [3]