CGN Power Co., Ltd. (003816.SZ) plans to acquire 100% equity of the second nuclear power plant in Taishan for 1.204 billion yuan.

CGN Power Co., Ltd. (003816.SZ) announced that on January 8, 2025, the company entered into a "Equity Transfer Agreement of 100% Equity of CGN Power Co., Ltd. Taishan Second Nuclear Power Co., Ltd." with CGN Power Co., Ltd. Group Limited ("CGN") in Shenzhen, Guangdong Province. The company intends to acquire 100% equity of CGN Taishan Second Nuclear Power Co., Ltd. ("Taishan Second Nuclear Power") from CGN at a transaction price of 1.204 billion yuan. The announcement stated that before the company's A-share listing, CGN retained certain nuclear power-related businesses, including nuclear power-related businesses that are still in the early stages or in planning. CGN has made a commitment to further avoid industry competition, and will transfer the retained businesses to the company based on the development of the retained businesses. The company has the priority right of first refusal and acquisition to purchase the retained businesses from CGN. Among CGN's retained businesses, Taishan Second Nuclear Power has made substantial preparations for nuclear projects before approval. In order to continue fulfilling the commitment to avoid competition in the industry, CGN will transfer the equity of Taishan Second Nuclear Power to the company. After the company acquires the equity of Taishan Second Nuclear Power, it will add new reserves for nuclear power projects, which is an effective way to increase CKH HOLDINGS business performance in the future, improve the company's market share, and achieve sustainable development.