The Zhitong Finance App learned that CGN Power (01816) rose by more than 4%. As of press release, it had risen 4.55% to HK$3.45, with a turnover of HK$126 million.
According to the news, on October 28, CGN Electric Power announced its results for the first three quarters of 2026, with operating income of about 51,098 billion yuan, up 3.98% year on year; net profit attributable to shareholders of listed companies was about 9.603 billion yuan, up 12.75% year on year. From January to September 2026, the total feed-in capacity of the nuclear power units operated and managed by the company was about 176.749 billion kilowatt-hours, an increase of 2.65% over the same period last year; the company's subsidiaries' feed-in capacity was about 141,491 billion kilowatt-hours, an increase of 4.23% over the same period last year. According to the announcement, the main reason for the increase in performance is that Huizhou Unit 1 and Unit 2 and Cangnan Unit 1 will be put into commercial operation in 2026.
Citi recently released a research report saying that it is optimistic about CGN Power in the independent power generation sector, and it is expected that the company's profit growth in 2027 will be driven by a potential rise in electricity prices in Guangdong. Citi raised CGN's 2026-2028 net profit forecast by 12% to 17%. The main assumption is that in 2027, its average market-based electricity price in Guangdong Province will rise 14% year over year to reach 372 yuan/MWh, while also taking into account the increase in the unit cost of nuclear fuel. The bank's forecast for the company's net profit for 2027-2028 is 2% higher than market consensus.