CGN Power (01816.HK) 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.

Zhitong Finance APP News, CGN Power (01816.HK) announced that on September 24, 2026, the board of directors reviewed and approved the resolution for the company (as Party A) to enter into an equity cooperation investment agreement with China First Heavy Industries, Lufeng Investment Holdings, Mingyang Group, Jiuli Group, Jiuli Special Material, and CATL Zhaoqing Company (jointly as Party B). According to the equity cooperation investment agreement, Party A and Party B will jointly contribute capital to establish the joint venture company Yue Shan Nuclear Power to carry out the development, construction, and operation of the Lufeng Unit 3 and Unit 4 nuclear power projects. The initial registered capital of Yue Shan Nuclear Power is 100 million yuan, of which the company will contribute 70 million yuan in cash, holding a 70% stake; Party B will contribute a total of 30 million yuan in cash, holding a combined 30% stake. After its establishment, Yue Shan Nuclear Power will become a non-wholly-owned subsidiary of the company.