CGN POWER (01816) announced its interim results for the six months ended June 30, 2025, reporting operating revenue of RMB 39.167 billion (same currency hereinafter), representing a 0.53% decrease year-on-year. Net profit attributable to shareholders reached RMB 5.952 billion, down 16.3% compared to the same period last year, with basic earnings per share of RMB 0.118.

According to the announcement, the Group sells electricity generated by its nuclear power plants through power sales contracts. In the first half of 2025, the Group's subsidiaries achieved grid-connected electricity sales of 89.265 billion kWh, while the Group's various power sales companies handled approximately 11.712 billion kWh of actual electricity consumption for external users. The Group's total electricity sales revenue for the first half of 2025 amounted to approximately RMB 30.658 billion, accounting for 78.27% of the Group's operating revenue for the period.

During the first half of 2025, China's total electricity consumption reached 4,841.8 billion kWh, representing a 3.73% year-on-year increase. Due to varying economic development conditions across different regions, the power supply and demand situations in provinces where the Group's nuclear power units are located showed slight variations.

In the first half of 2025, the company continued to implement its power sales strategy of "securing more grid-connected electricity plan quotas, achieving better market electricity volume and prices, developing and utilizing incremental markets, and securing larger shares of inter-provincial power transmission."

To address the impact of nuclear power units' participation in market-based transactions across various provinces, the company actively developed high-quality market users and promoted maximum generation from its units, successfully completing the first-half generation plan. However, due to declining market-based transaction prices in some regions, the company's average settlement electricity price decreased year-on-year.

In the first half of 2025, the Group's operating nuclear power units achieved grid-connected electricity generation of 113.36 billion kWh (including joint ventures), representing a 6.93% year-on-year increase. Market-based transaction electricity accounted for approximately 56.1% of total grid-connected electricity, up 3.7 percentage points compared to the same period last year.