CGN Power Co Class H ( (CGNWF) ) has released its Q3 earnings. Here is a breakdown of the information CGN Power Co Class H presented to its investors.
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CGN Power Co., Ltd. is a leading Chinese company in the nuclear power sector, responsible for managing and operating nuclear power generation units across China. The company specializes in the construction, operation, and management of nuclear power stations and is recognized for its significant contributions to the energy industry in the People’s Republic of China.
In its third quarterly report for 2024, CGN Power Co., Ltd. reported a steady increase in both operating revenue and net profit, marking a period of stable growth. The company highlighted a rise in on-grid power generation and significant progress in construction projects, which contributed to its financial uptick.
Key financial highlights include a year-on-year increase in operating revenue by 4.06% to RMB 62.27 billion and a net profit attributable to shareholders of RMB 9.98 billion, up by 2.93%. The company also recorded an increase in total assets to RMB 421.5 billion. However, there was a slight decline in net cash flows from operating activities, which decreased by 4.36% from the previous year.
Strategically, CGN Power has commenced significant construction projects such as the Ningde Nuclear Unit 5 and announced the approval of new nuclear power projects, including Zhaoyuan Unit 1 and Unit 2. These initiatives indicate the company’s ongoing commitment to expanding its nuclear power capabilities.
Looking ahead, CGN Power remains focused on leveraging its robust asset base and strategic projects to sustain growth in the nuclear power industry, aiming to enhance its contribution to China’s energy security and environmental sustainability.
