Zhejiang Zheneng Electric Power Co., Ltd. is engaged in thermal power generation in China and internationally. It supplies thermal products and invests in nuclear power projects, and also operates in gas power generation, integrated energy, coal-fired generation, shipping and port management, engineering maintenance, power equipment and engineering, and trading. Formerly known as Zhejiang Electric Power Development, the company was founded in 1985 and is headquartered in Hangzhou, China. It operates as a subsidiary of Zhejiang Provincial Energy Group Company Ltd.
Zheneng Electric Power plans to invest about 900 million yuan in the Zhejiang San'ao Nuclear Power Phase III project
Zheneng Electric Power announced after market close on September 24 that it plans to jointly establish a project company with China General Nuclear Power Corporation and several other enterprises to invest in and build the Zhejiang San'ao Nuclear Power Phase III project. Zheneng Electric Power will hold a 7 percent stake in the project company, with an expected capital contribution of about 900 million yuan. The project company is tentatively named CGN Cangnan No. 3 Nuclear Power Company Limited, with an initial registered capital of 50 million yuan. Zheneng Electric Power's first-phase contribution should be 3.5 million yuan, with the remainder to be paid gradually according to construction progress. The San'ao Nuclear Power Phase III project is located in Cangnan County, Wenzhou, Zhejiang Province, and plans to build two million-kilowatt-class nuclear power units, Unit 5 and Unit 6. It is currently in the pre-approval preparation stage. In terms of the shareholding structure, CGN Power, as the controlling party, holds a 51 percent stake, Zheneng Electric Power holds 7 percent, Zhejiang Qingzhan Holding Group Company Limited holds 16 percent, Wenzhou Nuclear Energy Development Company Limited, Cangnan Haixi Construction Development Company Limited, and Zhejiang Qingshan Enterprise Management Company Limited each hold 6 percent, Hangzhou First Applied Material Technology Group Company Limited holds 4 percent, and Zhejiang Geely Industrial Investment Holding Company Limited and Zhejiang Baisheng United Nuclear Energy Development Company Limited each hold 2 percent. The announcement cautioned that the project still needs to obtain approval from relevant government authorities and is subject to uncertainty.
Energy Transition & Power Demand › Nuclear Generation & Utilities ▲Capital
600023.CG · Capital · Positive Zheneng Electric Power will invest ~900 million yuan for a 7% stake in the Zhejiang San'ao Nuclear Power Phase III project company.
003816.CS · Capital · Positive CGN Power is the controlling party with a 51% stake in the San'ao Nuclear Power Phase III project company.
Zheneng Electric Power's 2026 interim net profit was 1.503 billion yuan, down 57.21% year-on-year
Zheneng Electric Power released its 2026 interim report. Total operating revenue was 32.579 billion yuan, down 8.16% year-on-year. Net profit attributable to the parent company was 1.503 billion yuan, down 57.21% year-on-year. Net cash inflow from operating activities was 4.058 billion yuan, down 26.62% year-on-year. The company's asset-liability ratio was 44.74%, gross margin was 3.63%, return on equity was 2.04%, and diluted earnings per share was 0.11 yuan. The number of shareholders was 146,500, and the top ten shareholders held 86.14% of the total share capital.
Zheneng Electric Power's net profit falls 57.21% year on year in first half of 2026
Zheneng Electric Power released its 2026 semi-annual report, achieving operating revenue of 32.579 billion yuan, down 8.16% year on year. Net profit attributable to shareholders of the listed company was 1.503 billion yuan, down 57.21% year on year. The decline was mainly due to lower on-grid electricity prices for coal-fired units and a year-on-year rise in coal prices in the second quarter. The company plans to distribute a cash dividend of 0.20 yuan per 10 shares, tax included. Second-quarter net profit was 556 million yuan, down 41% quarter on quarter, within the previously guided range of 393 million to 661 million yuan.
Zheneng Electric Power's first-half net profit falls 57.21% to 1.503 billion yuan
Zheneng Electric Power released its 2026 semi-annual report, showing operating revenue of 32.579 billion yuan for the period, down 8.16% year on year, and net profit attributable to shareholders of the listed company of 1.503 billion yuan, down 57.21% year on year. The decline was mainly due to lower electricity sales prices for coal-fired units and a year-on-year rise in coal prices in the second quarter. The company plans to distribute a cash dividend of 0.02 yuan per share, tax included.
Zheneng Electric Power's first-half power generation reaches 81.052 billion kWh, up 2.80% year-on-year
Zheneng Electric Power announced that in the first half of 2026, its wholly-owned and controlled power generation enterprises completed power generation of 81.052 billion kWh on a consolidated basis, with on-grid electricity of 76.844 billion kWh, representing year-on-year increases of 2.80% and 2.87% respectively. The year-on-year rise in electricity volume was mainly due to increased power generation from Zhejiang Zheneng Jiahua Power Generation Company, whose Jiaxing Phase IV Unit 9 was put into operation in June 2025, and from Zhejiang Zheneng Taizhou Second Power Generation Company, whose Taizhou Second Phase II Units 3 and 4 were put into operation in December 2025 and April 2026 respectively.
Zheneng Electric Power Expects First-Half 2026 Net Profit to Drop 54.21% to 61.85% Year-on-Year
Zheneng Electric Power disclosed its earnings forecast, expecting attributable net profit for the first half of 2026 to be between 1.34 billion and 1.608 billion yuan, a year-on-year decline of 54.21% to 61.85%. Deducted non-recurring net profit is expected to be between 1.294 billion and 1.552 billion yuan, down 53.85% to 61.52% year-on-year. The company said the decline in performance was mainly due to lower on-grid electricity prices for coal-fired units and higher coal prices in the second quarter compared with the same period last year. Based on the closing price on July 14, Zheneng Electric Power's current price-to-earnings ratio is about 13.04 to 13.69 times, its price-to-book ratio is about 0.95 times, and its price-to-sales ratio is about 0.95 times. The company is mainly engaged in coal power, gas power, nuclear power, combined heat and power, and integrated energy businesses.
600023.CG · Capital · Negative Company forecasts 54-62% drop in first-half 2026 net profit due to lower on-grid electricity prices and higher coal costs.
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