CGN Power Co (SHE:003816, HKG:1816) subsidiaries will undertake foreign exchange hedging transactions to manage currency risks.
Guangdong Nuclear Power Joint Venture plans forward sell-side hedging of up to 1.2 billion yuan, while Taishan Nuclear Power Joint Venture will conduct forward buy-side hedging for up to 100 million euros.
The transactions aim to lock in costs against fluctuations of the yuan against the U.S. dollar and euro stemming from their income-expense currency mismatches.
Shares of the power supplier closed 1% higher on the Shanghai bourse and 2% higher on the Hong Kong bourse.
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