Hong Kong Stock Concept Tracker | Google's parent company Alphabet agrees to purchase nuclear power from Constellation Energy. The commercial nuclear power sector is being repriced (with concept stocks included).

Title context: Hong Kong Stock Concept Tracker | Google's parent company Alphabet agrees to purchase nuclear power from Constellation Energy. The commercial nuclear power sector is being repriced (with concept stocks included). Google's parent company Alphabet has agreed to purchase nuclear power from Constellation Energy. The agreement will drive the addition of 890 megawatts of reactor capacity, a move interpreted by the market as a continuation of the AI infrastructure capital expenditure narrative of tech giants. The entire commercial nuclear power sector was immediately repriced. Talen Energy rose 12.43%, Vistra rose 10.77%, NRG Energy rose 7.03%, and power equipment maker GE Vernova rose 3.96%. On October 5, the U.S. Department of Energy made a conditional loan commitment of up to $4.2 billion to Vistra to upgrade three nuclear power facilitiesBeaver Valley, Davis-Besse, and Perrywith plans to add 433 megawatts of generating capacity and maintain nearly 4 gigawatts of baseload power supply. Analysts believe that hyperscale data centers are willing to pay long-term contract prices for round-the-clock stable power supply. Whoever has dispatchable baseload power sources has pricing power. This also explains why the utilities sector became the strongest block of the day. The electricity demand for AI training and inference is turning grid capacity into a scarce resource, while nuclear power can both supply power around the clock and produce no carbon emissions. Boosted by this news, Australian uranium mining stocks rose accordingly. On Tuesday, Constellation Energy's share price in New York rose 12%. In early Asian trading in the Australian market, Paladin Energy rose as much as 6.5%, Deep Yellow rose 9.5%, Silex Systems rose 8.2%, and NexGen Energy rose 6.2%. China's State Council approved eight new nuclear power units on July 31, the first batch approved for 2026, involving four projects in Guangdong, Liaoning, Zhejiang, and Shandong, with a total additional installed capacity of about 10 gigawatts and total investment of about RMB 170 billion. CLSA published a research report arguing that nuclear power investment has countercyclical characteristics, bringing years of earnings visibility to nuclear power equipment suppliers. Hong Kong stocks related to the nuclear power industry chain: CGN POWER (01816): The Zhaoyuan Unit 2 is about to begin full-scale construction. It also plans to contribute RMB 70 million to establish a joint venture company, Yueshan Nuclear Power, to carry out the development, construction, and operation of the Lufeng Units 3 and 4 nuclear power project. BofA Securities published a research report stating that CGN POWER's second-quarter results beat expectations, and it currently maintains a positive view on its operations over the next few quarters, expecting it to benefit from resilient market-based electricity prices, the return of the Taishan units to normal operation, and the continued approval of nuclear power projects, improving visibility for earnings and capacity growth. CGN MINING (01164): Benefiting from the acceleration of nuclear power construction and tight upstream mineral supply, natural uranium prices continue to rise. As a natural uranium production and trading company backed by a nuclear power enterprise, CGN MINING is expected to fully benefit from rising natural uranium prices. The company's long-term agreement benchmark price will be adjusted in 2026, and full-year performance growth is expected. Dongfang Electric Corporation (01072): In the first half of 2026, Dongfang Electric Corporation's nuclear energy business revenue was RMB 2.740 billion, up 2.0% year on year. As of the end of September 2025, orders in hand for nuclear power equipment were about RMB 28 billion, and revenue is expected to be gradually recognized from 2026 to 2029. Among the eight nuclear power units approved at the State Council executive meeting in July 2026, Dongfang Electric Corporation is deeply involved in the supply of core equipment such as steam generators and turbine-generator units for projects including Taipingling Phase III, Jinqimen Phase II, Laiyang Phase I, and Zhuanghe Phase I. Shanghai Electric Group (02727): The company covers core equipment for both the nuclear island and conventional island and has made forward-looking arrangements in the fusion field, with both technical barriers and order reserves, giving strong certainty to future performance growth. In the first half of 2026, Shanghai Electric Group added RMB 4.57 billion in new nuclear power equipment orders. In the tender for the first batch of eight nuclear power units under the 15th Five-Year Plan, Shanghai Electric Group's nuclear power group won bids for 24 sets of nuclear island main equipment, while the power station group simultaneously obtained the supply package for conventional island TG. Its domestic comprehensive market share in nuclear island main equipment has long been in a leading position in the industry. HARBIN ELECTRIC (01133): One of the core suppliers of domestic nuclear power main equipment. Its nuclear power business covers nuclear island main equipment, conventional island main equipment, nuclear-grade pumps and valves, nuclear-grade motors, and supporting equipment such as main helium fans, and it participates in multiple reactor types including Hualong One, Guohe One/CAP1400, AP1000, VVER, high-temperature gas-cooled reactors, fast reactors, and small reactors. The company has a full order book. Because the manufacturing and delivery cycle for power equipment is usually about 1.5-3 years, the company's coal power orders can currently cover production and operations for the next 2-3 years. New orders and newly signed contracts amounted to RMB 64.63 billion, up 13.6% year on year, with the amount of newly signed orders reaching a record high. CNNC INT'L (02302): The significant decrease in interim revenue was mainly attributable to a substantial year-on-year decrease in the volume of natural uranium business transactions between the company and independent third parties.