China's CGN Power 9M revenue rises on new nuclear units

CGN Power

28/10/2026 09:16

Overview
China nuclear power producer's nine-month operating revenue rose 3.98% yr/yr
Net profit attributable to shareholders rose 12.75% yr/yr
Company attributes growth to higher power generation and improved efficiency

Outlook
Company did not provide specific financial guidance for future quarters or full year in the press release

Result Drivers
NEW NUCLEAR UNITS – Commercial operation of Huizhou Units 1 and 2 and Cangnan Unit 1 drove revenue and profit growth
ELECTRICITY MARKETING – Selling expenses rose sharply due to higher marketing spending for electricity sales
FX HEDGING LOSSES – Forward foreign-exchange hedging fair-value losses weighed on earnings

Company press release: Full Story

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
9M Revenue
 
RMB 51.10 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the independent power producers peer group is "buy"
Wall Street's median 12-month price target for CGN Power Co Ltd is CNY5.10, about 10.4% above its October 27 closing price of CNY4.62
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 18 three months ago

Reuters Recommended Reads
Oct 27 - South Korea approves continued operation of Kori No. 3, 4 nuclear reactors, Yonhap reports
Oct 27 - Constellation gets conditional loan up to $5 billion for US nuclear plant upgrades
Oct 27 - World to add less clean energy capacity this year, renewables agency chief says

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)