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CGN Returns to the A-share Market and is Listed on SZSE Capital Market Gives Full Support to the Construction of the Guangdong-Hong Kong-Macao Greater Bay Area

Date: 2019-08-27

On 26 August 2019, CGN Power Co., Ltd. (Stock Code: 003816, Stock Abbreviation: CGN Power) held its listing ceremony at SZSE. After the listing ceremony, its directors, supervisors and senior management members attended the training “Integrity and Regulation of Listed Companies: Lecture One” held by SZSE.

 

CGN issued 5,049,861,100 shares in the IPO, including 5,049,861,100 new shares, with an issue price of CNY2.49 per share, raising CNY12.574 billion. The total share capital after the IPO was 50,498,611,100. CGN is mainly engaged in building, running and managing nuclear power stations, selling the power generated by its nuclear power stations and organizing the design and scientific research of nuclear power stations. In 2018, the company recorded operating income of CNY50,828 billion and a net profit attributable to its parent company shareholders of CNY8,702,632,700.

 

Headquartered in Shenzhen, CGN is a core enterprise of CGN Group. The return of CGN to the A-share market and its listing on SZSE, which made it the first A+H listed company in the Chinese nuclear power field, is another important achievement of SZSE in strengthening strategic cooperation with central enterprises and actively promoting SOE reform and an important measure adopted by the capital market to inject development power in CGN, to support Shenzhen in building itself into a pilot demonstration area of socialism with Chinese characteristics and to serve the high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area. It can help form good demonstration effect and agglomeration effect, assist the Chinese nuclear power industry in growing bigger and stronger, promote continuous improvement in the localization rate of nuclear power and add new drivers to the development of Shenzhen and the construction of the Guangdong-Hong Kong-Macao Greater Bay Area.

 

CGN is the largest nuclear power developer and operator in China in terms of installed capacity in operation. The company has the largest share of installed capacity of nuclear power stations in operation and under construction in the Chinese market and it ranks 3rd on the list of global listed power operators. Nuclear power is efficient, clean and safe, so developing nuclear power is a realistic choice to optimize energy structure and ensure energy safety and complies with the requirement of “speeding up the building of an economic system for green, low-carbon, and circular development” specified in the Opinions on Supporting Shenzhen in Building Itself into a Pilot Demonstration Area of Socialism with Chinese Characteristics.

 

As a core institution and important platform in the capital market, SZSE has been actively giving play to its market-oriented resource allocation function to support the Guangdong-Hong Kong-Macao Greater Bay Area in building a modern industrial system with international competitiveness. So far, a total of 469 companies based in nine cities in the Pearl River Delta are listed on SZSE, including 89 on the Main Board, 210 on the SME Board and 170 on the ChiNext Board, which raised over CNY270 billion in IPOs. Among them, there are a number of industry leaders including Midea, Gree and BYD.

 

SZSE will continue to earnestly implement the policies of the Party Central Committee and the State Council, give full play to its multi-tiered capital market platform function and innovation capital formation strength according to the arrangements and requirements of the China Securities Regulatory Commission (CSRC), enhance direct financing capability, improve the level of serving technological innovation, assist in regional industry optimization and upgrading, promote innovation in cross-border financial services and spare no effort to serve the construction of the Guangdong-Hong Kong-Macao Greater Bay Area.

The return of CGN to the A-share market and its listing on SZSE, which made it the first A+H listed company in the Chinese nuclear power field, is another important achievement of SZSE in strengthening strategic cooperation with central enterprises and actively promoting SOE reform and an important measure adopted by the capital market to inject development power in CGN, to support Shenzhen in building itself into a pilot demonstration area of socialism with Chinese characteristics and to serve the high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area.