HK Stock Market Move | CGN POWER (01816) up more than 3%, institutions say that the approval of nuclear power units in China has now become normalized, and the company is expected to directly benefit.

CGN POWER (01816) rose more than 3%. As of the time of writing, it rose 3.50%, closing at HK$2.96, with a turnover of HK$40.93 million. On the news front, the National Energy Administration released national electricity industry statistics for January to August. By the end of August, the national cumulative installed capacity was approximately 3.13 billion kilowatts, a year-on-year increase of 14.0%. Of this, CECEP Solar Energy's installed capacity is approximately 750 million kilowatts, a year-on-year increase of 48.8%; wind power installed capacity is approximately 470 million kilowatts, a year-on-year increase of 19.9%. Zheshang released a research report stating that on August 19, the State Council Executive Meeting approved a total of 11 units for five nuclear power projects including Bailong Nuclear Power, Lufeng Nuclear Power, Sanao Nuclear Power, Xuxu Nuclear Power, and Zhaoyuan Nuclear Power. Among them, the ShanDong Zhaoyuan 1 and 2 units (single capacity of 1214MW), GuangDong Lufeng 1 and 2 units (single capacity of 1245MW), as well as the CangNan 3 and 4 units (single capacity of 1215MW) managed by a subsidiary of the company's controlling shareholder, also received approval in this round, and construction can commence after obtaining the "Nuclear Power Plant Construction Permit" issued by the National Nuclear Safety Administration. The bank believes that the approval of nuclear power units in China has entered a normal state, and the company is expected to benefit directly.