On March 26, 2026, CGN Power Co., Ltd. (CGN Power; Stock codes: 1816.HK on the Hong Kong Stock Exchange, 003816.SZ on the Shenzhen Stock Exchange) held its 2025 annual results briefing in Shenzhen. In 2025, the 28 operating units under the company's management maintained safe and stable operations, all achieving "zero unplanned shutdowns." The company recorded on-grid electricity of 232.648 billion kWh, and commenced main construction for 6 new units. Yang Changli, Chairman of CGN Power; Pang Songtao, Executive Director and President; Li Fuyou, Independent Director; and Yin Engang, Chief Financial Officer and Board Secretary, attended the meeting. They presented the company's development strategy, 2025 operating performance, and key work for 2026, and also engaged in a Q&A session.

During the 14th Five-Year Plan period, CGN Power achieved leapfrog development. Over the past five years, a total of 16 nuclear power units under the company's management received government approval, 10 nuclear power units achieved FCD (First Concrete Date — the date of first concrete pour for the nuclear island), and the number of nuclear power bases (both in operation and under construction) under the company's management increased to 10. The demonstration project for the Hualong One, China's independent third-generation nuclear power technology, was fully completed, and the technology entered the fast track of serial construction. The total installed capacity of nuclear power units (both in operation and under construction) under the company's management grew from approximately 35.35 GW at the end of 2020 to approximately 56.06 GW. The cumulative on-grid electricity exceeded 1.07 trillion kWh, equivalent to reducing carbon dioxide emissions by approximately 992 million tonnes.

▲ Construction site of the Hualong One units at CGN's Zhejiang San'ao Nuclear Power Project

In 2025, the final year of the 14th Five-Year Plan period, the company delivered high-quality results in areas including safe operation, technological innovation, and operational efficiency.

New achievements were made in safe operation. All 28 operating nuclear power units under the company's management achieved "zero unplanned shutdowns." More than 85% of WANO indicators reached world-class levels. The average capacity factor remained high and stable at approximately 93%, and no operating unit experienced any event at Level 1 or above on the International Nuclear Event Scale. For the full year, on-grid electricity reached 232.648 billion kWh, a year-on-year increase of 2.36%. The average utilization hours stood at approximately 7,767 hours, an increase of 57 hours compared to 2024, continuing to provide safe, reliable, and efficient clean electricity to the provinces and regions it serves.

▲ Construction site of CGN's Fujian Ningde Nuclear Power Base

Steady progress was made on units under construction. In 2025, Units 5 and 6 of the Guangxi Fangchenggang Nuclear Power Project and Units 3 and 4 of the Guangdong Taishan Nuclear Power Project received state approval. A total of 6 units achieved FCD and entered the full construction stage: Units 1 and 2 of the Guangdong Lufeng Nuclear Power Project, Unit 3 of the Guangdong Taipingling Nuclear Power Project, Unit 1 of the Shandong Zhaoyuan Nuclear Power Project, Unit 3 of the Zhejiang San'ao Nuclear Power Project, and Unit 6 of the Fujian Ningde Nuclear Power Project. Additionally, Unit 1 of the Guangdong Taipingling Nuclear Power Project and Unit 1 of the Zhejiang San'ao Nuclear Power Project obtained operating licenses and achieved first fuel loading, laying a solid foundation for the company's long-term development. 

▲ Construction site of CGN's Shandong Zhaoyuan Nuclear Power Project

Continuous breakthroughs were made in technological innovation. In 2025, the China Southern Atomic Energy Science and Technology Innovation Center — a hub established by the company as a source of original technological innovation for advanced nuclear energy — was progressively improved under a "one headquarters, multiple bases" layout, providing research support for the iterative upgrading of the Hualong One and the development of a comprehensive portfolio of products including advanced reactor types. Building on Hualong One technology, the company developed Hualong One 2.0 through technical improvements, achieving comprehensive enhancements in safety, advanced capabilities, and economic performance. The company is now accelerating the commercial deployment for this upgraded version.

Steady growth was achieved in operating performance. While ensuring safety and quality, the company reasonably controlled costs by developing cost-reduction strategies. In 2025, it achieved operating revenue of RMB 75.697 billion, net profit attributable to shareholders of the parent company of RMB 9.765 billion, and net profit after deducting non-recurring gains and losses attributable to shareholders of the parent company of RMB 9.113 billion. The company consistently implemented its shareholder dividend distribution plan. The Board of Directors recommended a dividend of RMB 0.086 per share (tax included) for 2025. Based on the total share capital at the end of 2025, this represents a dividend payout ratio of approximately 44.47%, with the payout ratio maintaining moderate growth between 2021 and 2025.