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CGN Power Co
(1816)
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Rating:61Neutral
Price Target:
HK$3.00
▼(-3.54% Downside)
Action:Reiterated
Date:04/30/26
The score is primarily held back by weaker cash flow (negative free cash flow in 2025 and TTM) and elevated leverage despite steady profitability. Offsetting this, technicals are moderately supportive with the stock above key moving averages, and valuation appears reasonable with a ~3% dividend yield.
Positive Factors
Regulated, asset-backed business model
CGN Power’s revenues come primarily from on-grid tariff arrangements and plant output, creating predictable, contract-linked cash flows. The asset-heavy, long-lived nuclear fleet supports stable generation and structural revenue visibility versus merchant power swings, benefiting multi-year planning.
Negative Factors
High and rising leverage
Elevated and increasing leverage reduces financial flexibility, raising refinancing and interest-rate vulnerability for a capital-intensive nuclear operator. Higher debt magnifies cash-flow stress during downturns and limits ability to fund new projects without additional external financing or shareholder support.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated, asset-backed business model
CGN Power’s revenues come primarily from on-grid tariff arrangements and plant output, creating predictable, contract-linked cash flows. The asset-heavy, long-lived nuclear fleet supports stable generation and structural revenue visibility versus merchant power swings, benefiting multi-year planning.
Read all positive factors
CGN Power Co (1816) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$205.37B
Dividend Yield3.5%
Average Volume (3M)66.69M
Price to Earnings (P/E)20.5
Beta (1Y)0.36
Revenue Growth-16.49%
EPS Growth-5.62%
CountryHK
Employees22,928
SectorUtilities
Sector Strength65
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)0.19
Shares Outstanding11,163,625,000
10 Day Avg. Volume87,436,701
30 Day Avg. Volume66,688,277
Financial Highlights & Ratios
PEG Ratio-1.45
Price to Book (P/B)1.08
Price to Sales (P/S)1.76
P/FCF Ratio-64.43
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$4.07Price Target Upside30.98% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.2
Revenue Forecast (FY)HK$82.20B
CGN Power Co Business Overview & Revenue Model
Company Description
CGN Power Co., Ltd. operates and manages nuclear power stations and sells the electricity generated by these stations in the People’s Republic of China. It also provides construction, installation, design, and related technical services, as well a...
How the Company Makes Money
CGN Power primarily makes money by selling electricity generated at its nuclear power plants. Revenue is earned from on-grid electricity sales where generated power is delivered to the grid and sold to power purchasers under applicable on-grid tar...
CGN Power Co Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
52
Neutral
Cash Flow
48
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 71.60B | 75.70B | 86.80B | 82.55B | 82.82B | 80.68B |
| Gross Profit | 23.03B | 24.22B | 29.41B | 29.69B | 27.54B | 26.78B |
| EBITDA | 28.35B | 32.81B | 37.76B | 38.18B | 33.87B | 34.41B |
| Net Income | 9.44B | 9.77B | 10.81B | 10.72B | 9.96B | 9.76B |
Balance Sheet | ||||||
| Total Assets | 528.51B | 506.24B | 425.40B | 415.25B | 409.02B | 399.99B |
| Cash, Cash Equivalents and Short-Term Investments | 25.39B | 20.84B | 16.79B | 15.58B | 14.84B | 15.83B |
| Total Debt | 300.03B | 279.79B | 199.34B | 207.29B | 206.42B | 210.49B |
| Total Liabilities | 348.76B | 328.08B | 253.08B | 249.95B | 251.09B | 249.08B |
| Stockholders Equity | 125.50B | 123.24B | 119.44B | 113.24B | 107.03B | 100.91B |
Cash Flow | ||||||
| Free Cash Flow | -6.45B | -2.06B | 18.35B | 18.87B | 19.53B | 20.47B |
| Operating Cash Flow | 33.17B | 31.11B | 38.02B | 33.12B | 31.37B | 34.91B |
| Investing Cash Flow | -39.70B | -33.05B | -20.17B | -12.51B | -14.38B | -14.57B |
| Financing Cash Flow | 12.59B | 6.14B | -17.97B | -19.09B | -20.90B | -17.49B |
CGN Power Co Technical Analysis
Negative
3.11
Price Trends
3.12
Negative
3.17
Negative
3.05
Negative
Market Momentum
-0.12
Positive
26.68
Positive
32.93
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1816, the sentiment is Negative. The current price of 3.11 is above the 20-day moving average (MA) of 2.89, below the 50-day MA of 3.12, and above the 200-day MA of 3.05, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 26.68 is Positive, neither overbought nor oversold. The STOCH value of 32.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1816.
CGN Power Co Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$86.25B | 5.95 | 12.76% | 5.89% | -3.11% | -5.45% | |
66 Neutral | HK$122.19B | 10.57 | 13.13% | 4.74% | -6.95% | 61.55% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | HK$58.57B | 9.23 | 10.20% | 5.73% | 12.74% | 6.35% | |
61 Neutral | HK$205.37B | 20.49 | 7.69% | 3.50% | -16.49% | -5.62% | |
58 Neutral | HK$124.83B | 17.19 | 16.76% | 5.62% | -2.05% | 96.13% | |
58 Neutral | HK$106.56B | 8.59 | 5.62% | 5.33% | -13.95% | -25.30% |
* Utilities Sector Average
HK:1816
CGN Power Co
2.70
>-0.01
-0.18%
HK:0991
Datang International Power Generation Co
2.43
0.45
22.67%
HK:0916
China Longyuan Power Group
5.21
-2.09
-28.60%
HK:0836
China Resources Power Holdings Co
17.45
-1.02
-5.54%
HK:1071
Huadian Power International
3.85
-0.31
-7.41%
HK:0902
Huaneng Power International
5.57
0.90
19.32%
CGN Power Co Corporate Events
CGN Power Moves to Refresh Independent Board Seats Under Regulatory Tenure Limits
Jul 2, 2026
CGN Power Co., Ltd. has announced governance changes following the receipt of resignation applications from independent non-executive directors Mr. Li Fuyou and Ms. Xu Hua, driven by regulatory tenure limits and personal career plans. Their depart...
CGN Power Cuts Convertible Bond Conversion Price After 2025 Dividend Plan
Jul 2, 2026
CGN Power Co., Ltd. has announced an adjustment to the conversion price of its A Share convertible corporate bonds following the approval of its 2025 profit distribution plan. The RMB4.9 billion bonds, issued in July 2025 to non-specific investors...
CGN Power announces resignations of two independent directors
Jun 30, 2026
CGN Power Co., Ltd. announced the resignations of independent non-executive directors Mr. Li Fuyou and Ms. Xu Hua, with Li stepping down to comply with China Securities Regulatory Commission rules limiting independent director tenure to six years ...
CGN Power Revamps Hong Kong Governance Team and Relocates Principal Office
Jun 30, 2026
CGN Power Co., Ltd. announced that joint company secretary and authorized representative Ms. Ng Sau Mei will step down on 1 July 2026 due to work arrangements, with no disagreements with the board reported. She will be replaced by Ms. Oh Sim Yee, ...
CGN Power Makes Cangnan Nuclear Units Subsidiaries After Completing Equity Acquisition
Jun 30, 2026
CGN Power Co., Ltd. has completed the acquisition of significant equity stakes in CGN Cangnan Nuclear Power Co., Ltd. and CGN Cangnan Second Nuclear Power Co., Ltd., turning both entities into subsidiaries as of June 30, 2026, following shareholde...
CGN Power Shareholders Approve Connected Nuclear Asset Acquisition at 2026 EGM
Jun 18, 2026
CGN Power Co. reported that its first extraordinary general meeting of 2026, held in Shenzhen on June 18, was duly convened in compliance with PRC laws, Hong Kong and Shenzhen listing rules, and the company’s articles, with the board, senior...
CGN Power Restarts Taishan Unit 2 After Extended Refuelling and Safety Checks
Jun 2, 2026
CGN Power said its Taishan Unit 2 nuclear reactor has successfully completed an extended annual refuelling outage that included additional inspections and tests aimed at strengthening long-term stability. All operating parameters now meet nuclear ...
CGN Power Board Wins Mandate for 10% Share Buyback and Notifies Creditors
May 20, 2026
CGN Power has obtained shareholder approval at its latest general and class meetings to grant the board a general mandate to repurchase up to 10% of its issued A shares and/or H shares during the mandate period, with the board empowered to set spe...
CGN Power Approves 2025 Dividend as Shareholders Pass All Resolutions
May 20, 2026
CGN Power Co., Ltd. reported that its 2025 annual general meeting and separate class meetings for H and A shareholders were duly held in Shenzhen on May 20, 2026, with all resolutions passed by open ballot and in compliance with PRC company law an...
CGN Power Sets Final 2025 Dividend and Updates Withholding Tax Details
May 20, 2026
CGN Power Co., Ltd. has declared a final ordinary cash dividend of RMB 0.086 per share for the financial year ended 31 December 2025, equivalent to HKD 0.09846 per share based on an exchange rate of RMB 1 to HKD 1.14485. The dividend, approved on ...
CGN Power calls June EGM to approve nuclear asset acquisition
May 18, 2026
CGN Power Co. has called its first extraordinary general meeting of 2026 for June 18 in Shenzhen, where shareholders will vote on an ordinary resolution to approve a discloseable and connected transaction. The proposed deal involves acquiring equi...
CGN Power Confirms Schedule for 2025 AGM and 2026 H Shareholders’ Meeting
May 15, 2026
CGN Power has confirmed that its 2025 Annual General Meeting and the 2026 First H Shareholders’ Class Meeting will proceed as scheduled on May 20, 2026, in Shenzhen, China. The company is reminding shareholders to attend and vote, underscori...
CGN Power Starts Full Construction of 1,209 MW Huizhou Unit 4
May 11, 2026
CGN Power Co. announced that its subsidiary CGN Huizhou No.2 Nuclear Power Co. has begun full-scale construction of Huizhou Unit 4, following the first concrete pour for the reactor’s main plant on 10 May 2026. The unit will have an installe...
CGN Power’s Cangnan Unit 1 Cleared for Commercial Operation, Boosting Nuclear Capacity
Apr 29, 2026
CGN Power has announced that Unit 1 of CGN Cangnan Nuclear Power Co., Ltd. has completed all commissioning work and is now qualified for commercial operation, pending final regulatory procedures and permits. Once fully in commercial service, the u...
CGN Power Publishes Unaudited First-Quarter 2026 Results as Inside Information
Apr 28, 2026
CGN Power Co., Ltd. has released its unaudited financial results for the first quarter of 2026, prepared under China Accounting Standards for Business Enterprises and published simultaneously in Chinese and English. The report, covering the period...
CGN Power to Acquire Controlling Stakes in Two Cangnan Nuclear Units for RMB8.3 Billion
Apr 28, 2026
CGN Power Co. has agreed to acquire 46% of Cangnan Nuclear and 51% of Cangnan Second Nuclear from its controlling shareholder, China General Nuclear Power Corporation, for a total cash consideration of about RMB8.347 billion. Upon completion, both...
CGN Power starts planned refuelling outage at Taishan Unit 2
Apr 28, 2026
CGN Power announced that Taishan Unit 2, one of the world’s first EPR nuclear reactor units in commercial operation, has begun its planned annual refuelling outage at the end of 2025. The unit, owned by non‑wholly owned subsidiary Tais...
CGN Power Raises RMB2 Billion via Dual Tranche 2026 Medium-Term Notes
Apr 22, 2026
CGN Power has issued the first and second tranches of its 2026 medium-term notes in the PRC interbank debenture market, raising a total of RMB2 billion. Each tranche amounts to RMB1 billion, carries a three-year maturity to April 22, 2029, and pay...
CGN Power Sets 2025 AGM to Approve Strategy, Budgets and New Framework Deals
Apr 20, 2026
CGN Power Co., Ltd. has called its 2025 annual general meeting for May 20, 2026 in Shenzhen, where shareholders will review the 2025 board report, annual report, audited financial results and profit distribution plan, as well as the 2025 performan...
CGN Power Seeks Share Repurchase Mandate at 2026 H Shareholders’ Meeting
Apr 20, 2026
CGN Power has called its first 2026 H Shareholders’ class meeting for May 20, 2026 in Shenzhen to seek approval for a special resolution granting the board a general mandate to repurchase A shares and/or H shares during a specified period. E...
CGN Power’s Huizhou Unit 1 Cleared for Commercial Nuclear Operation
Apr 20, 2026
CGN Power announced that Unit 1 of its subsidiary CGN Huizhou Nuclear Power Co., Ltd. has completed all commissioning work and has been deemed qualified for commercial operation as of April 19, 2026. Once the necessary permits and procedures are f...
CGN Power Sets April 28 Board Meeting to Approve First-Quarter 2026 Results
Apr 13, 2026
CGN Power Co., Ltd. has scheduled a board meeting for April 28, 2026 to review and approve the first quarterly results for the three months ended March 31, 2026, along with the related results announcement. The timing signals that investors and ot...
CGN Power’s Q1 2026 Nuclear Output Drops 10% on Extended Outages
Apr 9, 2026
CGN Power reported that total nuclear power generation for the first quarter of 2026 fell about 10% year on year to 54,096 GWh, with on-grid power output down by a similar margin to 50,957 GWh. The decline was mainly driven by longer refuelling ou...
CGN Power Says Controlling Shareholder’s H-Share Increase Plan Has Lapsed
Apr 8, 2026
CGN Power announced that the implementation period for its controlling shareholder’s plan to increase holdings of the company’s H shares has lapsed. The plan, originally set for a 12‑month window from April 8, 2025, aimed to rais...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.