China National Nuclear Power vs CGN Power: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

China National Nuclear Power (601985.CG)

Q3 202631 Jul – 29 Aug 2026

▲3▼1

New nuclear approvals lift pipeline, but first-half profit drops sharply

Four new nuclear units approved for China National Nuclear Power The State Council approved Liaoning Zhuanghe Units 1-2 and Zhejiang Jinqimen Units 3-4, both using Hualong One reactors. More approved units mean a bigger long-term project pipeline and future earnings for the company.
This is the main new positive force expanding the company's growth pipeline.
10.3 billion yuan procurement for high-temperature reactor project A subsidiary plans to buy contracting services for the Jiangsu Xuwei nuclear heating and power plant's high-temperature reactor phase one. The large order shows the project is moving forward, which supports future revenue for the parent.
It shows concrete project progress that can add future revenue.
First-half profit fell 35.74% on weaker revenue Net profit dropped to 3.641 billion yuan and revenue fell 6.28%. Second-quarter profit also slipped versus the first quarter. Weaker earnings weigh on the stock because investors pay for current profits, not just future projects.
This is the main new negative force and a real counterweight to the approval news.
170 billion yuan of nuclear investment approved nationwide The four approved projects total eight units and over 170 billion yuan of investment, the first batch under the 15th Five-Year Plan. This signals strong state support for nuclear power, helping the whole sector including this company.
It shows the policy backdrop that supports the company's long-term growth.

August 202631 Jul – 29 Aug 2026

▲3▼1

New nuclear approvals lift pipeline, but first-half profit drops sharply

Four new nuclear units approved for China National Nuclear Power The State Council approved Liaoning Zhuanghe Units 1-2 and Zhejiang Jinqimen Units 3-4, both using Hualong One reactors. More approved units mean a bigger long-term project pipeline and future earnings for the company.
This is the main new positive force expanding the company's growth pipeline.
10.3 billion yuan procurement for high-temperature reactor project A subsidiary plans to buy contracting services for the Jiangsu Xuwei nuclear heating and power plant's high-temperature reactor phase one. The large order shows the project is moving forward, which supports future revenue for the parent.
It shows concrete project progress that can add future revenue.
First-half profit fell 35.74% on weaker revenue Net profit dropped to 3.641 billion yuan and revenue fell 6.28%. Second-quarter profit also slipped versus the first quarter. Weaker earnings weigh on the stock because investors pay for current profits, not just future projects.
This is the main new negative force and a real counterweight to the approval news.
170 billion yuan of nuclear investment approved nationwide The four approved projects total eight units and over 170 billion yuan of investment, the first batch under the 15th Five-Year Plan. This signals strong state support for nuclear power, helping the whole sector including this company.
It shows the policy backdrop that supports the company's long-term growth.

Latest31 Jul – 29 Aug 2026

▲3▼1

New nuclear approvals lift pipeline, but first-half profit drops sharply

Four new nuclear units approved for China National Nuclear Power The State Council approved Liaoning Zhuanghe Units 1-2 and Zhejiang Jinqimen Units 3-4, both using Hualong One reactors. More approved units mean a bigger long-term project pipeline and future earnings for the company.
This is the main new positive force expanding the company's growth pipeline.
10.3 billion yuan procurement for high-temperature reactor project A subsidiary plans to buy contracting services for the Jiangsu Xuwei nuclear heating and power plant's high-temperature reactor phase one. The large order shows the project is moving forward, which supports future revenue for the parent.
It shows concrete project progress that can add future revenue.
First-half profit fell 35.74% on weaker revenue Net profit dropped to 3.641 billion yuan and revenue fell 6.28%. Second-quarter profit also slipped versus the first quarter. Weaker earnings weigh on the stock because investors pay for current profits, not just future projects.
This is the main new negative force and a real counterweight to the approval news.
170 billion yuan of nuclear investment approved nationwide The four approved projects total eight units and over 170 billion yuan of investment, the first batch under the 15th Five-Year Plan. This signals strong state support for nuclear power, helping the whole sector including this company.
It shows the policy backdrop that supports the company's long-term growth.

CGN Power (003816.CS)

Q3 202620 Jul – 8 Oct 2026

▲3

CGN Power expands nuclear pipeline as new units start up

New units locked in at fixed tariff CGN set a fixed on-grid price of 0.4153 yuan per kWh for four new units (Huizhou 1-2, Cangnan 1-2). This gives predictable revenue for the new reactors, reducing uncertainty about how much money they will make.
A guaranteed tariff directly supports future revenue and profit for the newly operating units.
Huizhou Unit 2 starts commercial operation Huizhou Unit 2 finished testing and is ready to run commercially, lifting CGN's operating fleet to 31 units and total capacity to about 35,000 megawatts. More running reactors mean more electricity sold and more cash coming in.
Adding a large operating unit immediately increases revenue-generating capacity.
State Council approves two more Huizhou units The State Council approved Huizhou Units 5 and 6, each 1,217 megawatts, using Hualong One 2.0 technology. Approval is a key step before construction, so it secures future growth in CGN's nuclear capacity.
Regulatory approval is a necessary milestone that moves new projects toward construction and future earnings.
First-half revenue fell but profit edged up First-half revenue dropped 19.6% to 31.48 billion yuan, yet net profit rose 2.6% to 6.11 billion yuan. The revenue decline is a real headwind, but profit growth and strong cash flow show the business remains solid.
The mixed results show both a revenue headwind and profit resilience, giving a balanced view of financial health.

August 202620 Jul – 8 Oct 2026

▲3

CGN Power expands nuclear pipeline as new units start up

New units locked in at fixed tariff CGN set a fixed on-grid price of 0.4153 yuan per kWh for four new units (Huizhou 1-2, Cangnan 1-2). This gives predictable revenue for the new reactors, reducing uncertainty about how much money they will make.
A guaranteed tariff directly supports future revenue and profit for the newly operating units.
Huizhou Unit 2 starts commercial operation Huizhou Unit 2 finished testing and is ready to run commercially, lifting CGN's operating fleet to 31 units and total capacity to about 35,000 megawatts. More running reactors mean more electricity sold and more cash coming in.
Adding a large operating unit immediately increases revenue-generating capacity.
State Council approves two more Huizhou units The State Council approved Huizhou Units 5 and 6, each 1,217 megawatts, using Hualong One 2.0 technology. Approval is a key step before construction, so it secures future growth in CGN's nuclear capacity.
Regulatory approval is a necessary milestone that moves new projects toward construction and future earnings.
First-half revenue fell but profit edged up First-half revenue dropped 19.6% to 31.48 billion yuan, yet net profit rose 2.6% to 6.11 billion yuan. The revenue decline is a real headwind, but profit growth and strong cash flow show the business remains solid.
The mixed results show both a revenue headwind and profit resilience, giving a balanced view of financial health.

Latest20 Jul – 8 Oct 2026

▲3

CGN Power expands nuclear pipeline as new units start up

New units locked in at fixed tariff CGN set a fixed on-grid price of 0.4153 yuan per kWh for four new units (Huizhou 1-2, Cangnan 1-2). This gives predictable revenue for the new reactors, reducing uncertainty about how much money they will make.
A guaranteed tariff directly supports future revenue and profit for the newly operating units.
Huizhou Unit 2 starts commercial operation Huizhou Unit 2 finished testing and is ready to run commercially, lifting CGN's operating fleet to 31 units and total capacity to about 35,000 megawatts. More running reactors mean more electricity sold and more cash coming in.
Adding a large operating unit immediately increases revenue-generating capacity.
State Council approves two more Huizhou units The State Council approved Huizhou Units 5 and 6, each 1,217 megawatts, using Hualong One 2.0 technology. Approval is a key step before construction, so it secures future growth in CGN's nuclear capacity.
Regulatory approval is a necessary milestone that moves new projects toward construction and future earnings.
First-half revenue fell but profit edged up First-half revenue dropped 19.6% to 31.48 billion yuan, yet net profit rose 2.6% to 6.11 billion yuan. The revenue decline is a real headwind, but profit growth and strong cash flow show the business remains solid.
The mixed results show both a revenue headwind and profit resilience, giving a balanced view of financial health.