China Radio and Television Corporation plans to raise 12.574 billion yuan, which will set a record for IPO in the year.

category:Finance
 China Radio and Television Corporation plans to raise 12.574 billion yuan, which will set a record for IPO in the year.


The main business of Chinas Guangzhou Nuclear Power Station is to build, operate and manage nuclear power plants, sell the power generated by such nuclear power plants, and organize the design and scientific research work for the development of nuclear power plants. The announcement shows that China Guangzhou Nuclear Corporation will issue 5.05 billion new shares at a price of 2.49 yuan per share, which will be implemented through the Shenzhen Stock Exchange trading system and the Offline Electronic Platform on August 12, respectively. Based on this calculation, the total amount of fund raised by Chinas Radio and Radio Audit is expected to be 12.574 billion yuan. After deducting the issuance cost of 184 million yuan, the net amount of fund raised is expected to be 12.39 billion yuan, which is the highest record of the initial public offering of A shares this year.

As for the purpose of raising funds, China Radio and Nuclear Corporation said in the prospectus that 3 billion yuan of the fund was planned for units 5 and 6 of Yangjiang, 8 billion yuan was planned for units 3 and 4 of Fangchenggang, and the rest was used to supplement liquidity.

From the perspective of profitability, from 2016 to 2018, the operating income of China Guangzhou Nuclear Corporation was 33.027 billion yuan, 45.633 billion yuan and 50.828 billion yuan, respectively, and the net profits attributable to the shareholders of the parent company were 7.364 billion yuan, 9.564 billion yuan and 8.703 billion yuan, respectively. At the same time, the company expects that from January to June this year, its combined revenue will be 26.637 billion yuan to 27.04 billion yuan, an increase of 13.15% to 17.51%, and net profit will be 4.804 billion yuan to 5.202 billion yuan, an increase of 5.19% to 13.91%.

From the perspective of industry status, China Radio and Nuclear Corporation said in the prospectus that the company is the largest participant in Chinas nuclear power industry. As of December 31, 2018, the company managed 22 nuclear power units in operation and 6 nuclear power units under construction, with installed capacity of 24306 MW and 7434 MW respectively, accounting for 54.44% and 55.30% of the total installed capacity of nuclear power in operation and under construction in China. It is the largest nuclear power developer and operator in China, and the company manages them in operation and operation. The installed capacity share of the nuclear power plant is the first in the domestic market.

It is noteworthy that, in addition to the planned A-share listing, Chinas Guangzhou Nuclear Corporation has recently won the favor of long-term funds in Hong Kong. On Aug. 1, China Life disclosed that China Guangzhou Nuclear Power Co., Ltd., a listed company in Hong Kong, had a 5.019% stake in China Life Franklin Capital Management Co., a related company, and would incorporate this investment into equity investment management. Industry insiders pointed out that in recent years, China Radio and Television Corporation has made steady profits and increased dividends, which is the preferred target of insurance capital.

In terms of independent R&D capability, China Guangzhou Nuclear Corporation introduced that its Daya Bay nuclear power plant was the first large commercial nuclear power plant in China to be put into commercial operation. Since the construction of Daya Bay Nuclear Power Station in the 1980s, the company has been adhering to the road of introduction, digestion, absorption and innovation with a high starting point and constantly carrying out technological transformation.

In the prospectus, China Radio and Nuclear Corporation disclosed that the company and China Radio and Nuclear Group have implemented a series of major technical improvements (including 16 safety technical improvements) on the basis of M310 reactor technology adopted at Daya Bay Nuclear Power Station, forming a second-generation improved CPR1000 series nuclear power technology with its own brand; compared with the latest international safety. Based on the CPR1000 technology, 31 safety technological reforms have been implemented, and ACPR1000 technology with three generations of nuclear technology characteristics has been developed.

In addition, China Radio and Television has actively participated in the construction of national standards and industry standards, and has now established a relatively perfect R&D system and actively integrated into the national science and technology innovation system. Up to now, China Guangzhou Nuclear Engineering Company has successfully approved more than 20 state-level scientific research projects, including the National Energy and Nuclear Power Engineering Construction Technology Research and Development Center, the demonstration project of nuclear power engineering construction, and the major project of large advanced pressurized water reactor. At the same time, it has also undertaken more than 30 group scientific research projects and carried out more than 200 independent projects. A scientific research project. In terms of talent team building, China Radio and Television Corporation disclosed that as of December 31, 2018, the total number of employees in the company was 18663, of which the total number of technical personnel was 16815, accounting for more than 90%, and the total number of R&D personnel was more than 5,000.

Speaking of the companys future development, the head of China Radio and Nuclear Corporation said that during the 13th Five-Year Plan period, the company will focus on five core tasks: first, seize the development opportunities of domestic nuclear power, expand the scale of nuclear power installation, strive to make the domestic share of new nuclear power construction and installation not less than 45%, and maintain the first market position in China; Continuously improve project and operation performance, achieve and maintain 50% of the WANO target of mature nuclear power units to enter the top 1/10 of the world, achieve first-class domestic and international excellence; Third, basically complete the domestic demonstration of Hualong No. 1 and advanced small reactor with independent intellectual property rights, achieve the planned control target with technical and economic indicators, and have batch construction strips. Fifth, to maintain the sustained and stable growth of the companys assets and earnings, and the market value is in line with the companys value as a whole. Source: Liable Editor of China Securities News: Yang Bin_NF4368

Speaking of the companys future development, the head of China Radio and Nuclear Corporation said that during the 13th Five-Year Plan period, the company will focus on five core tasks: first, seize the development opportunities of domestic nuclear power, expand the scale of nuclear power installation, strive to make the domestic share of new nuclear power construction and installation not less than 45%, and maintain the first market position in China; Continuously improve project and operation performance, achieve and maintain 50% of the WANO target of mature nuclear power units to enter the top 1/10 of the world, achieve first-class domestic and international excellence; Third, basically complete the domestic demonstration of Hualong No. 1 and advanced small reactor with independent intellectual property rights, achieve the planned control target with technical and economic indicators, and have batch construction strips. Fifth, to maintain the sustained and stable growth of the companys assets and earnings, and the market value is in line with the companys value as a whole.