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Industrial Services

China National Nuclear Power Co., Ltd.

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 2021 CNYUSD
Gross Profit26,361.26M4,087.42M
Operating income22,046.28M3,418.36M
Income before tax16,369.83M2,538.21M
Net income8,038.08M1,246.33M
Diluted EPS0.420.06
Dividends Per Share0.150.02
Total Assets409,621.38M64,270.97M
Total liabilities293,851.51M46,106.28M
Total equity66,028.46M10,360.08M
Operating cash flow35,725.01M5,539.31M
Currency in CNYCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 33,266.59M 38,790.29M 46,698.51M 51,671.92M 61,706.83M
Gross Profit 12,745.02M 15,650.49M 19,105.08M 22,451.97M 26,361.26M
Operating income 13,548.59M 15,315.46M 16,426.70M 19,171.13M 22,046.28M
Income before tax 9,357.52M 9,894.25M 10,438.96M 13,039.85M 16,369.83M
Net income 4,533.31M 4,736.86M 4,757.60M 5,995.45M 8,038.08M
EBITDA 21,764.57M 25,057.29M 28,039.08M 31,015.06M 36,541.44M
Diluted EPS 0.29 0.30 0.29 0.36 0.42
Dividends Per Share 0.11 0.12 0.12 0.13 0.15
Total Assets 303,507.05M 323,129.59M 357,936.07M 382,277.98M 409,621.38M
Total liabilities 225,461.26M 239,910.44M 265,514.34M 275,222.18M 293,851.51M
Total equity 43,606.74M 46,188.19M 50,680.24M 60,338.04M 66,028.46M
Operating cash flow 19,235.55M 22,943.84M 26,762.61M 31,338.92M 35,725.01M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 4,922.38M 5,862.20M 6,758.24M 7,486.26M 9,567.90M
Gross Profit 1,885.85M 2,365.19M 2,764.90M 3,252.85M 4,087.42M
Operating income 2,004.75M 2,314.55M 2,377.28M 2,777.52M 3,418.36M
Income before tax 1,384.61M 1,495.27M 1,510.73M 1,889.22M 2,538.21M
Net income 670.78M 715.86M 688.52M 868.62M 1,246.33M
EBITDA 3,220.45M 3,786.79M 4,057.83M 4,493.48M 5,665.90M
Diluted EPS 0.04 0.04 0.04 0.05 0.06
Dividends Per Share 0.01 0.01 0.01 0.01 0.02
Total Assets 46,607.34M 47,064.33M 51,385.51M 58,454.07M 64,270.97M
Total liabilities 34,622.42M 34,943.33M 38,117.39M 42,084.18M 46,106.28M
Total equity 6,696.36M 6,727.38M 7,275.68M 9,226.28M 10,360.08M
Operating cash flow 2,846.24M 3,467.40M 3,873.10M 4,540.40M 5,539.31M

Valuation Measures

Dec 2021
Operating margin35.72%
Profit margin13.02%

Key executives

  • General Manager & Director: Ming Ze Ma
  • Director & Head-Human Resources: Jian Hua Zhao
  • Chief Accountant: Yong Zhang
  • Securities Representative: Xing Lei Li
  • Board Secretary: Xiao Wei Luo


  • China State-Owned Assets Supervision & Admn Commission (60.1%)
  • Taiping Asset Management Co., Ltd. (2.9%)
  • China Securities Finance Corp. Ltd. (2.4%)
  • Zhejiang State-Owned Asset Sup. & Admin. Commission (2.3%)
  • Huihua Fund Management Co. Ltd. (1.3%)
  • Aegon-Industrial Fund Management Co., Ltd. (0.9%)
  • Minsheng Royal Fund Management Co., Ltd. (0.6%)
  • Nuode Asset Management Co., Ltd. (0.5%)
  • CNNC Industry Fund Management Co. Ltd. (0.3%)
  • China Universal Asset Management Co., Ltd. (0.3%)

Contact Details

  • Website:
  • Address: No. 1 Lane 4, Sanlihe South, Xicheng District, Beijing, 100045, China
  • Phone: +86.10.81920188

Related Companies

  • CNNP Rich Energy Co., Ltd.
  • China Nuclear Shandong Energy Co., Ltd.
  • Liaoning Nuclear Power Co., Ltd.
  • Qinshan Nuclear Power Co., Ltd.


    Last Updated on 30 Sep, 2022

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