On-grid power generation exceeded 100 Twh,and 90% unit performance indicators reached world’s excellence level! CGN power announces 2023 interim results.

On August 25, 2023, CGN Power Co., Ltd. (Hong Kong Stock Exchange stock code: 1816, Shenzhen Stock Exchange stock code: 003816) held 2023 interim results briefing at the CGN Yangjiang Nuclear Power Base. Meanwhile, activity featuring "Understanding Listed Company: Approaching Blue Chips", organized by the China Securities Investor Services Center was held at the same time, in which CGN Power was recommended by China Securities Regulatory Commission (Shenzhen Bureau) to participate.. By way of telephone interview, on-site experience, and visiting &networking, this activity intended to introduce the performance of CGN Power to professional investors and analysts, and to communicate the values of the nuclear energy industry and companies to the capital market.

▲CGN Power holds 2023 interim results briefing

Yin Engang, Chief Financial Officer and Secretary of the Board of Directors of CGN Power, introduced the company’s overall situation, business coverage and financial performance to investors. In the first half of 2023, CGN Power coordinated development and safety, maintained stable operations, and achieved good operating results. Its on-grid electricity reached 105.918 billion kilowatt-hours. Performance indicators of 87.04% of the company’s units entered the world’s excellent level.

The units operated stably, and the on-grid power generation reached 105.9 TWh

In the first half of 2023, China's electricity consumption increased by 5.0% year-on-year, striking an overall tight balance between national electricity supply and demand. CGN Power ensured the safe and stable operation of operating nuclear power units, supplying safe, reliable, economical clean electricity to the provinces and regions where the units are located.

▲CGN Guangdong Daya Bay Nuclear Power Base

In the first half of 2023, CGN Power achieved on-grid power generation of 105.918 Twh, an increase of 14.09% compared with the same period in 2022, equivalent to reduction of standard coal consumption by approximately 31.75 million tons and carbon dioxide emissions by approximately 87.28 million tons. The emission reduction effect is equivalent to afforestation of more than 240,000 hectares.

With excellent operations and management, about 90% of the performance indicators entered the world’s excellent level.

In the first half of 2023, CGN Power safety management system operated effectively, with all 27 operating nuclear power units under its management maintaining safe operation. Benchmarking with WANO (World Association of Nuclear Operators) indicators, which are important indicators for measuring the level of safety, operation and maintenance of global reactors, 87.04% of performance indicators have entered the world’s top 1/10 level (excellence level), ranking at the forefront among international peers.

▲CGN Guangdong Yangjiang Nuclear Power Base

CGN Power has always adhered to the basic principles of “nuclear safety is the overriding priority” and “safety first, quality first, pursuit of excellence”, and applied these concepts and principles in every single step of nuclear power plant production and construction, promoting the safety culture in an institutionalized manner and improving the company’s safety and quality management continuously.

Steadily advancing batch construction of “HPR1000” units, to implement the national “carbon peaking and carbon neutrality” targets

Currently, China is working hard to build a new energy system and a new power system, aiming to achieve the “carbon peak” and “carbon neutrality” goals. As a safe and efficient clean energy source, nuclear energy is of great significance to the country’s efforts to ensure energy security, fulfill the “carbon peaking and carbon neutrality” strategy and build a new power system.

▲The first “HPR1000” unit in western China - Unit 3 of CGN Guangxi Fangchenggang Nuclear Power Plant

In March 2023, CGN Power achieved high-quality operation and power generation of Unit 3 of Fangchenggang Nuclear Power Station, the first “HPR1000” unit in western China. During the peak summer season for electricity consumption, the unit maintained safe and stable operation, continuously providing clean electricity to Guangxi and surrounding areas. Unit 4 of Fangchenggang Nuclear Power Plant is under commissioning as planned and is expected to be put into operation in the first half of 2024. In Huizhou, Lufeng, Guangdong, and Wenzhou, Zhejiang, the other five “HPR1000” units under construction are progressing steadily.

▲CGN Fujian Ningde Nuclear Power Base

At the end of July this year, six new nuclear power units were approved at the State Council executive meeting, including Units 5 and 6 of Ningde Nuclear Power Plant owned by CGN Power. The project adopts CGN’s Generation-III nuclear power technology Hualong One ( HPR1000), which enjoys proprietary intellectual property rights. The rated electric power of a single unit is 1,210 MW. In addition, Units 1 and 2 of the Shandong Shidao Bay Expansion Project of Huaneng Group, which were approved at the same time, will also apply CGN’s HPR1000 Generation-III nuclear power technology, and CGN will fully participate in the construction of the project.

▲Construction of HPR1000 reactors at CGN Zhejiang San’ao Nuclear Power Project Phase I site

Approach “blue chips” and build a communication bridge between investors and blue chip listed companies

China Securities Investor Services Center, China Securities Regulatory Commission (Shenzhen Bureau), Shenzhen Public Comapnies Association, domestic and foreign investment bank analysts, institutional investors, individual investors and financial media personnel participated the “Approaching Blue Chips” through an “online + offline” mode. On-site guests visited the Yangjiang Nuclear Power Exhibition Hall, simulators and view terrace, listened to explanations, and gained an in-depth understanding of the ecological and social benefits of nuclear power, as well as the clean, stable, safe and efficient characteristics of nuclear power.

▲Financial media and investors visited and learned about Yangjiang Nuclear Power

Zhao Fuming, General Manager of Yangjiang Nuclear Power Co., Ltd., introduced the overall situation of Yangjiang Nuclear Power Base, and briefed on-site financial media, investors and other guests the basics of nuclear power generation, the evolution of nuclear power technology, and the safety management system of the company. During the question and answer session, Yin Engang and Zhao Fuming had in-depth communication on issues interested by the capital market.