CGN Power reported that net profit attributable to shareholders rose 2.70% year-on-year to RMB 6.11 billion for the six months ended 30 June 2026, even as operating revenue eased 2.80% to RMB 31.48 billion.

The company’s EBITDA reached RMB 19.31 billion, down 0.50% from the same period a year earlier, while group net profit increased 5.66% to RMB 9.32 billion. Net profit margin improved to 29.6% from 27.3% in H1 2025.

Total assets expanded 6.35% to RMB 591.22 billion, driven by the transfer of Huizhou Unit 1 and Cangnan Unit 1 to commercial operation and the consolidation of Ningde Second Nuclear. Total liabilities climbed to RMB 403.48 billion, lifting the debt-to-equity ratio to 175.2% from 150.7% at year-end 2025.

Operating cash flow was broadly stable at RMB 13.33 billion, while investment cash outflows grew 28.80% to RMB 26.60 billion on higher spending for nuclear projects. Capital expenditure totalled RMB 28.36 billion, up 18.30% year-on-year.

On-grid power generation (including associates) declined 3.32% to 109,597 GWh, reflecting longer refuelling outages. Average capacity factor across 30 operating units stood at 87.93%.

During the period CGN Power completed the acquisition of 46% of Cangnan Nuclear and 51% of Cangnan Second Nuclear from parent CGNPC for approximately RMB 8.35 billion, and Ningde Second Nuclear became a consolidated subsidiary on 5 January 2026.

The board declared a final dividend of RMB 0.086 per share for FY 2025, representing a 44.47% payout ratio; no interim dividend has been proposed for H1 2026.

Looking ahead, management reiterated its focus on safety, project execution and cost control, targeting utilization hours for 2026 not lower than the three-year average and advancing mass construction of approved units while maintaining financial discipline.