Zhejiang Electric Power announced that the company plans to jointly fund the establishment of China Nuclear Power Co., Ltd. with China Nuclear Power and Hengyi Group to develop, construct and operate the Wenzhou Fenghuangshan Island nuclear power project. The company will invest 24.5 million yuan and hold 7% of the shares. At the time of establishment, CNNC Ruian had a registered capital of 350 million yuan. China Nuclear Power held 51% of the shares, Hengyi Group held 30% of the shares, and Wenzhou Nuclear Energy and Jingou Technology each held 6% of the shares. Since the chairman of the company is the director of China Nuclear Power, this transaction constitutes a related transaction, does not constitute a major asset restructuring, and does not require approval from the shareholders' meeting. The nuclear power project is still in its early stages, and there is uncertainty about whether it can be approved by the competent national authorities.

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