China National Nuclear Power Co., Ltd. reported a 35.74% year-on-year decline in net profit for the first half of 2026, citing increased nuclear plant overhauls, higher renewable curtailment and lower electricity prices.

Revenue for January-June totaled 38.40 billion yuan, down 6.28% from the same period last year, while net profit reached 3.64 billion yuan, the company said in its interim report.

The company attributed the profit decline to reduced power generation from more nuclear maintenance outages and higher renewable energy curtailment, lower electricity prices cutting generation revenue, and increased costs from additional overhaul units and renewable depreciation.

As of end-June, the company operated 27 nuclear units with a combined installed capacity of 26.21 GW, generating 97.97 TWh of electricity in the first half, down 1.89% year on year. Grid-connected power reached 91.61 TWh, down 2.08%, with average utilization hours at 3,738 hours.

Renewable energy capacity in operation stood at 35.00 GW, including 11.10 GW of wind and 23.91 GW of solar, plus 1.86 GW of independent energy storage. Renewable generation totaled 21.70 TWh, down 1.00% year on year, with wind output at 9.60 TWh (down 6.09%) and solar at 12.10 TWh (up 3.46%). Grid-connected renewable power reached 21.31 TWh, down 1.13%.