Movement Alert|CGN POWER Rises 4.42% in Regular Trading, Multiple New Nuclear Project Expansions Boost Market Sentiment

Market Focus
Sep 28

On September 28, CGN POWER rose 4.42% in regular trading, trading at HK$3.075/share, with turnover of approximately HK$98.46 million. The stock benefited from a series of nuclear project expansion announcements that lifted investor confidence.

On September 24, the company's board approved the establishment of a joint venture, Yueshan Nuclear Power, with six partners including China First Heavy Industries, Ming Yang Smart Energy, Jiuli Hi-tech Metals, and a subsidiary of CATL. CGN POWER will contribute RMB 70 million for a 70% stake in the JV, which will develop, construct, and operate the Lufeng Unit 3 and Unit 4 nuclear power project. On the same day, Zhejiang Zheneng Electric Power announced its participation in CGN POWER's San'ao Nuclear Power Plant Units 5 and 6 JV. Additionally, the company's Zhaoyuan Unit 2, adopting Hualong One technology with 1,214MW capacity, officially entered full construction on September 5.

The broader power sector also traded firmly, with Huaneng Power up 5.34%, China Resources Power up 3.58%, and Huadian Power up 3.53%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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