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Utilities

China National Nuclear Power Co., Ltd.

  • 5.52 CNY
  • -0.04
  • -0.72%
  • China
    Jun 26, 2019
  • Ticker
    SHG(601985)
  • Prev. close
    5.56
  • Market cap (CNY)
    86,543.78M
  • Market cap (USD)
    12,578.30M
  • Shares
    15,565.42M

Company Background

China National Nuclear Power is a major state-owned nuclear power generation company. Its parent enterprise is China National Nuclear Corp., which is directly controlled by the Chinese government and is one of China's big three nuclear power generation companies along with China General Nuclear Power and State Power Investment.

The predecessor of CNNC was the Ministry of Nuclear Industry, which oversaw China's nuclear power plant projects. Since it built China's first nuclear power plant, Qinshan Nuclear Power Plant Phase I, which went into operation in 1994, CNNC has led a nuclear power plant construction race in China by aggressively absorbing advanced technologies from its Japanese, U.S. and European counterparts. CNNP, traded on the Shanghai stock market, is the core subsidiary of CNNC.

Within China, CNNP is pushing ahead with nuclear power plant projects in the provinces of Zhejiang, home to Qinshan Nuclear Power Plant, Fujian, Jiangsu and Hainan, among some others. With the Xi Jinping leadership emphasizing infrastructure exports, the company is poised to accelerate overseas expansion together with the government. Enjoying the backing of the Asian Infrastructure Investment Bank set up at the initiative of China, CNNP's forte is the national support it enjoys.

As part of its overseas expansion, the company is stepping up efforts to export the Hualong One third-generation nuclear power reactor, which it says it developed with CGN Power. Based on an agreement between the Chinese and French governments, CNNC plans to acquire a stake in Areva of France, showing an eagerness to introduce cutting-edge foreign technologies. CNNC and CNNP are viewed as playing a central role in China's nuclear power plant export strategy. The question is the safety of the plants. With no track record of building and operating a nuclear power plant in an inland area, the companies face the challenge of winning confidence in Chinese-made nuclear power plants.

Business Summary

China National Nuclear Power Co., Ltd. engages in the electricity sales business. It provides nuclear power related technical services and consulting services. Its business includes development, investment, construction, operation, and management of nuclear power projects; investment and development of clean energy projects; transmission and distribution project investment, and investment management; research on nuclear power operation safety technology, and related technical services and consulting services; and sale of electricity. The company was founded on January 21, 2008 and is headquartered in Beijing, China.

Financial Highlights

Dec 2018 CNYUSD
Revenue38,790.29M5,862.20M
Gross Profit15,650.49M2,365.19M
Operating income15,315.46M2,314.55M
Income before tax9,894.25M1,495.27M
Net income4,736.86M715.86M
EBITDA25,057.29M3,786.79M
Diluted EPS0.300.04
Dividends Per Share0.120.01
Total Assets323,481.04M47,115.52M
Total liabilities239,625.74M34,901.86M
Total equity46,429.66M6,762.55M
Operating cash flow23,423.84M3,539.94M
Currency in CNYCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 18,449.08M 25,807.95M 29,457.18M 33,266.59M 38,790.29M
Gross Profit 6,968.99M 11,058.87M 11,608.63M 12,745.02M 15,650.49M
Operating income 6,020.32M 11,974.91M 12,793.54M 13,548.59M 15,315.46M
Income before tax 6,077.43M 8,119.61M 9,114.23M 9,357.52M 9,894.25M
Net income 2,471.74M 3,781.15M 4,488.67M 4,533.31M 4,736.86M
EBITDA 6,286.83M 15,768.56M 17,477.28M 21,764.57M 25,057.29M
Diluted EPS 0.22 0.24 0.28 0.29 0.30
Dividends Per Share -- 0.09 0.11 0.11 0.12
Total Assets 222,446.63M 263,222.94M 282,046.62M 303,507.05M 323,481.04M
Total liabilities 175,840.80M 197,858.25M 210,220.02M 225,461.26M 239,625.74M
Total equity 22,462.38M 37,594.65M 40,677.38M 43,606.74M 46,429.66M
Operating cash flow 9,599.50M 16,739.34M 17,753.80M 19,235.55M 23,423.84M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 2,994.15M 4,106.19M 4,433.94M 4,922.38M 5,862.20M
Gross Profit 1,131.01M 1,759.53M 1,747.35M 1,885.85M 2,365.19M
Operating income 977.05M 1,905.28M 1,925.70M 2,004.75M 2,314.55M
Income before tax 986.32M 1,291.87M 1,371.89M 1,384.61M 1,495.27M
Net income 401.14M 601.60M 675.64M 670.78M 715.86M
EBITDA 1,020.30M 2,508.87M 2,630.71M 3,220.45M 3,786.79M
Diluted EPS 0.03 0.03 0.04 0.04 0.04
Dividends Per Share -- 0.01 0.01 0.01 0.01
Total Assets 35,855.35M 40,535.74M 40,585.16M 46,607.34M 47,115.52M
Total liabilities 28,343.13M 30,469.73M 30,249.66M 34,622.42M 34,901.86M
Total equity 3,620.62M 5,789.49M 5,853.28M 6,696.36M 6,762.55M
Operating cash flow 1,557.93M 2,663.32M 2,672.33M 2,846.24M 3,539.94M

Valuation Measures

Dec 2018
PER17.31
ROA1.51%
ROE10.52%
Operating margin39.48%
Profit margin12.21%

Key executives

  • General Manager & Director: Tao Zhang
  • Chief Accountant: Yong Zhang
  • Securities Representative: Xing Lei Li
  • Board Secretary: Xiao Wei Luo

Shareholders

  • China State-Owned Assets Supervision & Admn Commission (71.7%)
  • China Securities Finance Corp. Ltd. (4.8%)
  • Zhejiang State-Owned Asset Sup. & Admin. Commission (2.5%)
  • National Council for Social Security Fund (2.4%)
  • China Asset Management Co., Ltd. (0.2%)
  • HuaAn Fund Management Co., Ltd. (0.1%)
  • Zhong Ou Asset Management Co., Ltd (0.1%)
  • Huatai-PineBridge Fund Management Co., Ltd. (0.1%)
  • Hebei Zhenqing Real Estate Development Co. Ltd. (0.0%)
  • E Fund Management Co., Ltd. (0.0%)

Contact Details

  • Website:http://www.cnnp.com.cn
  • Address: No. 1 Lane 4, Sanlihe South, Xicheng District, Beijing, 100045, China
  • Phone: +86.10.8357.6866

Related Companies

  • Liaoning Nuclear Power Co., Ltd.

Competitors

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