CGN Power Co., Ltd. (CGN Power) reported that its nuclear fleet generated 54.10 billion kWh in the first quarter of 2026, a 10.10% year-on-year decline. On-grid output fell in tandem to 50.96 billion kWh, down 10.11%.

The company attributed the lower production primarily to extended refuelling outages and load-reduction requests: • Subsidiary units produced 42.48 billion kWh, slipping 11.43%. • Associate Hongyanhe Nuclear Power Station contributed 11.62 billion kWh, 4.90% below the prior-year period. • Taishan Nuclear Power Station saw the steepest drop, with generation sliding 64.35% to 2.38 billion kWh due to a scheduled refuelling outage. • Ling’ao (-14.79%), Ningde (-5.43%) and Hongyanhe (-4.90%) were all affected by longer-than-usual outages, while Lingdong recorded a 5.64% decline after operating at reduced load to match grid demand. • Yangjiang and Fangchenggang stations were broadly stable, edging up 0.04% and 0.40%, respectively.

Operationally, CGN Power completed four annual refuelling outages and two ten-year outages during the quarter. The second quarter plan includes two additional annual refuelling outages and one ten-year outage.

Capacity expansion remains on track. As of 31 March 2026, the group managed 20 units under construction: • Two units—Huizhou 1 (connected on 13 February) and Cangnan 1 (connected on 12 March)—entered the grid-connection phase. • A further two units are in commissioning, two in equipment installation, seven in civil construction and seven in first-concrete preparation. Target commercial-operation dates range from 2026 to 2031.

Corporate developments: • Effective 5 January 2026, CGN Power gained control of Fujian Ningde Second Nuclear Power Co., Ltd., which is now consolidated as a subsidiary following a concert-party agreement with China Datang Group Nuclear Power Co., Ltd. • Convertible A-share bonds issued to public investors became eligible for share conversion on 15 January 2026; conversions will run through 8 July 2031. • The board proposes a cash dividend of RMB0.086 per share for FY 2025 (subject to AGM approval), with payment expected around 10 July 2026; the total payout will be adjusted for any bond conversions completed before the record date.

CGN Power cautions that the operational data above reflect electricity output only and should not be used as a direct proxy for first-quarter revenue or profit.