Stock Code: 003816 Bond Code: 127110 Stock Abbreviation: China Nuclear Power Bond Abbreviation: CGN Convert Bond Announcement No.: 2026-015 China Nuclear Power Co., Ltd. Announcement on the Signing of the Framework Agreement for Nuclear Fuel Supply and Services for 2027-2029 and Related Party Transaction The Company and the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and have no false records, misleading statements, or material omissions. I. Overview of Related Party Transactions
- On March 25, 2026, China Nuclear Power Co., Ltd. (hereinafter referred to as the "Company" or "this Company") signed the "Framework Agreement for Nuclear Fuel Supply and Services for 2027-2029" (hereinafter referred to as the "Framework Agreement") with China Nuclear Power Group Co., Ltd. (hereinafter referred to as "CGN") in Shenzhen, Guangdong Province. The agreement is valid from January 1, 2027, to December 31, 2029. CGN and its subsidiaries (hereinafter referred to as "CGN Group"; unless otherwise specified, this excludes this Company and its subsidiaries) will provide nuclear fuel supply and services to this Company and its subsidiaries (hereinafter referred to as "this Group"). These services primarily include, but are not limited to, natural uranium supply and services (agency procurement and direct supply), nuclear fuel turnkey services, spent fuel storage and transportation services, and other nuclear fuel supply and services. The Company and CGN signed the "Framework Agreement for Nuclear Fuel Supply and Services for 2024-2026" on March 15, 2023. The scope of services and the annual transaction amount caps for 2024, 2025, and 2026 (hereinafter referred to as "Annual Caps") have been approved by the Company's 2022 shareholders' meeting. Provided that the scope of services and pricing principles remain unchanged, due to the construction progress of the first core fuel loading for Lufeng Unit 5, which is expected to arrive in 2026, and the market price increases for natural uranium and component processing, the 2026 Annual Cap approved in 2023 needs to be adjusted and re-approved.
- CGN is the controlling shareholder of the Company. In accordance with the "Shenzhen Stock Exchange Stock Listing Rules," CGN Group is a related party of the Company, and the signing of the "Framework Agreement for Nuclear Fuel Supply and Services for 2027-2029" (hereinafter referred to as the "Transaction") constitutes a related party transaction.
- On March 25, 2026, the Company held the 19th meeting of the Fourth Board of Directors, which deliberated and approved the "Proposal on Renewing the Framework Agreement for Nuclear Fuel Supply and Services of China Nuclear Power Co., Ltd. and the Annual Transaction Amount Cap." Related directors Mr. Yang Changli, Mr. Pang Songtao, and Ms. Li Li recused themselves from voting. The proposal was unanimously approved by the remaining 5 non-related directors. On March 18, 2026, the Company held a special meeting of independent directors to review the proposal, which was unanimously approved. The Transaction is still subject to the approval of the Company's 2025 shareholders' meeting, and related parties with interests in this related party transaction will recuse themselves from voting.
- This related party transaction does not constitute a major asset restructuring as defined by the "Measures for the Administration of Major Asset Restructuring of Listed Companies." II. Basic Information of Related Parties
- Basic Information and Relationship of Related Parties | Serial No. | Company Name | Related Information | |---|---|---| | 1 | CGN | Registered Address, Location, Main Office Address: 33rd Floor, South Tower, CGN Building, 2002 Shennan Avenue, Futian District, Shenzhen | | | | Enterprise Nature: Limited Liability Company | | | | Legal Representative: Yang Changli | | | | Registered Capital: RMB 14,917.5148 million | | | | Unified Social Credit Code: 9144030010001694XX | | | | Main Business: Providing clean and renewable energy products such as nuclear, wind, solar, and hydropower to domestic and international markets; focusing on the development, construction, production, supply, and utilization of clean energy, providing related industrial products for mastering core technologies and controlling key industry chain resources; providing professional services related to the development, construction, production, and supply of clean energy; providing