Four nuclear power companies IPO race
316 314 Flange bolt,Motorcycle non-slip bolt,Anti-slip bolts,Galvanized multipurpose Flange bolt Hebei Quanfang Fastener Co., Ltd , https://www.quanfangfastener.com
June 28 14:07:37, 2025
On October 7th, China Nuclear Power Co., Ltd. was listed on the latest initial public offering (IPO) list by the China Securities Regulatory Commission (CSRC). Alongside it, rumors have been circulating for some time about other major nuclear power companies, including China Nuclear Power Construction, Shanghai Electric Power, and Guangdong Nuclear Power, all of which are reportedly preparing to go public.
According to reports, during the next three years of the "Twelfth Five-Year Plan," approximately 400 billion yuan is expected to be invested in nuclear power construction, with nearly 200 billion yuan already scheduled to be released. This significant investment highlights the government's renewed focus on nuclear energy as a key component of the country's long-term energy strategy.
Two central state-owned enterprises (SOEs) are now competing to become the first nuclear power company to go public. Recently, the Ministry of Environmental Protection approved the third and fourth units of the Tianwan Nuclear Power Plant and flood control projects at the Qinshan NPP within a short period, signaling a gradual restart of nuclear projects across the country.
The revival of nuclear power projects has brought several major nuclear power companies back into the spotlight, with their listing plans once again being prioritized. In fact, many of these companies have been actively working on IPO preparations since last year.
However, the Fukushima nuclear disaster in Japan in March 2011 led to global concerns about nuclear energy, prompting China to temporarily halt new nuclear project approvals. The industry then faced a downturn. Despite this, major nuclear power companies have not stopped their efforts, and many have made progress toward meeting environmental protection requirements for listing.
In June 2023, the Ministry of Environmental Protection conducted verification on seven nuclear power production companies, and on November 1st, it verified 10 subsidiaries of China Nuclear Construction. No legal violations were found, paving the way for further steps in the IPO process.
China Nuclear Construction became the second nuclear power company to pass environmental protection verification this year. According to the report published by the Ministry of Environmental Protection, China Nuclear Construction plans to issue no more than 525 million shares on the Shanghai Stock Exchange, raising around 1.8 billion yuan through six projects — significantly less than the previously expected 3 billion shares.
This marks a new phase in the company’s listing journey. Although China Nuclear Power passed the environmental review first, China Nuclear Construction is now catching up, and the race to become the first nuclear power stock remains uncertain.
In addition to the two major SOEs, other nuclear power companies are also accelerating their listing processes. For example, Shanghai Electric announced in July 2022 that it planned to issue non-public A-shares to specific investors, including CLP, with a fundraising target of up to 9.5 billion yuan. If successful, this could bring CLP’s high-quality nuclear assets onto the Shanghai Power platform.
Similarly, the National Nuclear Power Corporation has set its sights on full listing during the "Twelfth Five-Year Plan" period, while Sun Qin, chairman of China National Nuclear Corporation, confirmed that multiple companies, including China Nuclear Power, National Nuclear Power, and Guangdong Nuclear Power Group, have listing plans.
With the State Council approving the nuclear power development plan and the Ministry of Environmental Protection fast-tracking several projects, the nuclear industry is seeing a clear sign of recovery and acceleration.
Financial pressures are pushing nuclear companies to seek capital through the stock market. With large-scale investments required for new projects, going public is seen as a crucial step to ensure sustainable growth. Analysts suggest that the next phase of nuclear power development will focus on strategic listings, aiming to secure the necessary funds for future expansion.
Looking ahead, the nuclear power equipment manufacturing sector is also expected to benefit from increased demand. Major companies like Dongfang Electric and China Heavy Industries have already received orders for new projects, and industry experts believe that the localization of third-generation nuclear technology will accelerate in the coming years.
Overall, the nuclear power sector is entering an exciting phase, with multiple players vying for a share of the growing market. As the industry continues to evolve, the path to listing remains a critical step in ensuring long-term success.