Gelonghui, April 7 | According to Haitong Securities Research Report, China General Nuclear Power (003816.SZ) showed steady growth in 23 years. The company achieved revenue of 82,549 billion yuan, YOY -0.33%; achieved net profit of 10.725 billion yuan, YOY +7.64%, and continued to be optimistic about the future. The Fangchenggang No. 4 nuclear power unit, which began construction in 2016 (the company holds 61% of the shares and has an installed capacity of 1.18 million kilowatts), is expected to be put into operation in the first half of 2024. The new and old units will contribute incremental power generation together, and 24 performance flexibility is expected to be unleashed. The bank believes that the company, as a leading nuclear power company, takes into account factors such as company management optimization that may be brought about by incorporating market value management into the assessment, and provides long-term growth by adding clear asset injection expectations. Referring to the 24-year PE of comparable companies, the company was given 19-20 times PE in 2024, corresponding to a reasonable value range of 4.56 to 4.8 yuan/share, and for the first time, it was covered with a “superior to the market” rating.