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Utilities

China National Nuclear Power Co., Ltd.

  • 6.33 CNY
  • +0.02
  • +0.32%
  • China
    Apr 19, 2019
  • Ticker
    SHG(601985)
  • Prev. close
    6.31
  • Market cap (CNY)
    98,684.82M
  • Market cap (USD)
    14,718.09M
  • Shares
    15,565.43M

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 2017 CNYUSD
Revenue33,029.53M4,887.31M
Gross Profit12,548.63M1,856.79M
Operating income11,261.24M1,666.30M
Income before tax9,263.44M1,370.69M
Net income4,497.71M665.51M
EBITDA19,467.59M2,880.57M
Diluted EPS0.280.04
Dividends Per Share0.110.01
Total Assets303,192.53M46,559.04M
Total liabilities225,455.85M34,621.59M
Total equity43,464.67M6,674.55M
Operating cash flow19,346.45M2,862.65M
Currency in CNYCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 17,737.26M 18,449.08M 25,807.95M 29,457.18M 33,029.53M
Gross Profit 6,007.37M 6,968.99M 11,058.87M 11,608.63M 12,548.63M
Operating income 4,983.75M 7,948.21M 11,974.91M 12,793.54M 11,261.24M
Income before tax 6,019.77M 6,077.43M 8,119.61M 9,114.23M 9,263.44M
Net income 2,475.93M 2,471.74M 3,781.15M 4,488.67M 4,497.71M
EBITDA 5,093.08M 8,214.72M 15,768.56M 17,477.28M 19,467.59M
Diluted EPS 0.23 0.22 0.24 0.28 0.28
Dividends Per Share -- -- 0.09 0.11 0.11
Total Assets 194,721.70M 222,446.63M 263,222.94M 282,046.62M 303,192.53M
Total liabilities 153,187.43M 175,840.80M 197,858.25M 210,220.02M 225,455.85M
Total equity 20,112.25M 22,462.38M 37,594.65M 40,677.38M 43,464.67M
Operating cash flow 9,544.69M 9,599.50M 16,739.34M 17,753.80M 19,346.45M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 2,885.19M 2,994.15M 4,106.19M 4,433.94M 4,887.31M
Gross Profit 977.17M 1,131.01M 1,759.53M 1,747.35M 1,856.79M
Operating income 810.67M 1,289.93M 1,905.28M 1,925.70M 1,666.30M
Income before tax 979.19M 986.32M 1,291.87M 1,371.89M 1,370.69M
Net income 402.74M 401.14M 601.60M 675.64M 665.51M
EBITDA 828.45M 1,333.19M 2,508.87M 2,630.71M 2,880.57M
Diluted EPS 0.03 0.03 0.03 0.04 0.04
Dividends Per Share -- -- 0.01 0.01 0.01
Total Assets 32,164.67M 35,855.35M 40,535.74M 40,585.16M 46,559.04M
Total liabilities 25,303.92M 28,343.13M 30,469.73M 30,249.66M 34,621.59M
Total equity 3,322.19M 3,620.62M 5,789.49M 5,853.28M 6,674.55M
Operating cash flow 1,552.56M 1,557.93M 2,663.32M 2,672.33M 2,862.65M

Valuation Measures

Dec 2017
PER25.43
ROA1.53%
ROE10.69%
Operating margin34.09%
Profit margin13.61%

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%)
  • 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%)
  • Beijing Fangde Investment 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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