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Author | Fan Liang

Editor | Ding Mao

July 12,China National Nuclear Corporation has put forward a plan for a 14 billion yuan fixed increase, and the social security fund is listed, with a planned subscription amount of up to 12 billion yuan, accounting for up to 85%According to the detailed rules of the plan, the issuance price of this planned increase is 8.52 yuan per share. After the issuance is completed, the Social Security Fund will become the second largest shareholder of the company, with a shareholding ratio of over 5%.

It is worth noting that this is the first time that the social security fund has participated in a company's private placement as a strategic investor, demonstrating that institutional long-term funds are optimistic about the future prospects of China's nuclear power.

Since the beginning of this year, China National Nuclear Power has performed exceptionally well in the capital market, with a cumulative increase of more than 45% from the beginning of the year to date, and the highest increase once exceeding 65%, driving the market value from 141.6 billion yuan to 202.1 billion yuan, contributing considerable returns to investors.

So, with the company's stock price having risen by nearly 50%, why is the social security fund still willing to invest at a high level? Is China's nuclear power still worth investing in in the future?

Is nuclear power speculation about dividends or growth?

Many investors believe that this round of rise in China's nuclear power is mainly due to the dividend strategy in the first half of the year, but the actual situation may be different.

From the comparison of the rise and fall of power stocks and the dividend rate this year, China National Nuclear Power ranked at the top of the list, but the dividend rate is only 1.8%, which is not only obviously low among the power stocks, but also has a certain gap compared with the overall A-shares (Wind All A dividend rate is about 2.49%). In terms of dividend rate, China National Nuclear Power's 2023 data is 35%, which is also not superior.