Movement Alert|CGN POWER Rises 3.11% in Regular Trading, Huizhou Units 5 and 6 Receive State Council Approval

Market Focus08-03

On August 3, CGN POWER rose 3.11% in regular trading, trading at HKD 2.98/share, with turnover of HKD 29.86 million.

On the news front, the company announced on July 31 that its subsidiary CGN Huizhou No.3 Nuclear Power's Huizhou Units 5 and 6 have received State Council approval. Both units adopt the Hualong One 2.0 nuclear technology with a designed capacity of 1,217MW each. The company stated that preparatory construction work is underway, and full-scale construction will commence upon obtaining the construction permit from the National Nuclear Safety Administration.

The approval further expands CGN POWER's growth pipeline. Earlier, Huizhou Unit 4 began full-scale construction in May following its first concrete pour, and the company also secured on-grid tariff approvals at 0.4153 yuan/kWh for its Huizhou and Cangnan units. These developments collectively reinforce the company's capacity expansion trajectory despite near-term headwinds from declining utilization hours and lower market electricity prices that weighed on first-half operational performance.

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