CGN POWER (01816) plans to acquire 100% equity of the second nuclear power plant in Taishan for approximately 12.04 billion yuan.

CGN POWER (01816) announced that on January 8, 2025, the board of directors had deliberated and approved the resolution of the company (as the transferee) entering into a share transfer agreement with China General Nuclear Power Corporation (as the transferor). According to the share transfer agreement, China General Nuclear Power Corporation agreed to sell and the company agreed to acquire 100% equity of Taishan Phase II Nuclear Power Plant at a total price of approximately RMB 1.204 billion. Once the acquisition is completed, Taishan Phase II Nuclear Power Plant will become a wholly-owned subsidiary of the company, and its financial performance will be consolidated into the group's financial statements. Prior to the A-share listing of the company, China General Nuclear Power Corporation retained certain nuclear power-related businesses, including those in the early stages or in the planning phase. China General Nuclear Power Corporation has made a commitment to further avoid competition in the same industry and will transfer the retained businesses to the company based on the development of those businesses. The company has the priority right to acquire and the option to purchase the businesses that China General Nuclear Power Corporation plans to sell. As the Taishan Phase II Nuclear Power Plant project is about to start its construction application work, China General Nuclear Power Corporation, in order to continue fulfilling its commitment to avoid competition in the same industry, will transfer the equity of Taishan Phase II Nuclear Power Plant to the company.