What is the value of CGN stock in 2016?

What is the value of CGN stock in 2016?

Overview

  • Release Date: September 01, 2016

CGN Power Company Limited – China’s largest nuclear power plant operator – announced a 36.3% increase in revenue in the first six months of 2016 to CNY13.1 billion (US $2.0 billion), compared with the same period last year.

In a 24 August statement to the Hong Kong Stock Exchange, CGN Power – the publicly traded subsidiary of China General Nuclear (CGN) announced a profit rise by 3.4% during the six-month period, to CNY3.6 billion.

“In the first half of 2016, the electric power supply and demand in China was generally easing back,” the CGN said. “The growth of demand for power consumption of certain provinces where the company’s nuclear power generating units located was slow. Certain units operated at reduced load or went on standby temporarily.” But CGN strived to ensure the supply of electricity as planned while actively achieving more market power generating with regard to the market conditions. Both Hongyanhe 4 and Fangchenggang 2 will begin commercial operations by the end of this year, according to CGN.

Speaking of the future objectives, CGN said it is “still facing a complex external market environment” and would “closely follow the reform progress of the electricity market and the promulgation of the 13th Five-Year Plan for nuclear power and strive to obtain the support from national and local policies”.

Elaine LI

About Author

Elaine Li

Elaine Li (李益楠) is Marketing Manager for the Chinese Market. With ten years of experience in the nuclear power market, Elaine is experts for the certification of safety equipment (HAF 604 and 601) and marketing intelligence.