CGN Power’s Profit Rises 3.4% on Higher China Power Generation
- Total revenue increased 36.3 percent to 13.1 billion yuan
- On-grid power generation rose 32 percent with new unit online
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CGN Power Co., China’s biggest nuclear power operator, posted a 3.4 percent increase in profit for the first half of the year on higher power generation, beating a slowdown in an industry that’s seeing demand growth slip with the country’s slowing economy.
Profit rose to 3.6 billion yuan ($541 million) from 3.48 billion yuan a year ago, the Shenzhen, Guangdong-based company said in a statement to the Hong Kong stock exchange on Wednesday. Revenue rose 36.3 percent to 13.1 billion yuan.