CGN Power Co., Ltd. (Stock Code: 003816) recently issued an overseas regulatory announcement indicating that the implementing entity for its Guangdong Lufeng Nuclear Power Station Unit 5 and Unit 6 Project will be changed. CGN Lufeng Nuclear Power Co., Ltd., formerly responsible for this construction, will hand over the project to a newly established wholly owned subsidiary, CGN Eastern Guangdong (Lufeng) Nuclear Co., Ltd. The move is designed to consolidate management of multiple nuclear power projects within the same site and streamline subsequent development and construction.

In July 2025, CGN Power successfully raised a gross total of RMB4.9 billion through the issuance of A share convertible corporate bonds, with net proceeds reaching RMB4.89784 billion after deducting issuance expenses. These proceeds were dedicated entirely to the Guangdong Lufeng Nuclear Power Station Unit 5 and Unit 6 Project. Following board review on October 28, 2025, the new implementing entity was approved, while the project’s location, content, and overall execution plan remain unchanged. Any related assets and liabilities will be transferred at net book value to the new subsidiary without consideration.

The board noted that the change aligns with CGN Power’s business strategies and regulatory requirements. The transaction does not constitute a major asset restructuring or a connected transaction and will not alter the intended use of the funds. According to the sponsor’s verification, all procedures have complied with relevant regulations, and the project is expected to continue without significant impact on its ongoing schedule or operations.