CLSA said in a research report that the State Council approved eight new nuclear power units on July 31, representing the first batch of approvals for 2026, involving four projects in Guangdong, Liaoning, Zhejiang and Shandong, with total newly added installed capacity of about 10 gigawatts and total investment of about RMB170 billion. CLSA believes nuclear power investment has counter-cyclical characteristics, providing multi-year earnings visibility for nuclear power equipment suppliers, and is bullish on related stocks such as SH ELECTRIC (02727.HK) -0.035 (-1.029%) Short selling $2.76M; Ratio 11.040% and HARBIN ELECTRIC (01133.HK) -0.050 (-0.302%) Short selling $5.80M; Ratio 15.171% .

China's 15th Five-Year Plan targets nuclear power installed capacity of 110 gigawatts by 2030, a substantial increase from 63 gigawatts in 2025, implying annual additions of at least 9.5 gigawatts from 2026 to 2030, far above the annual average of 2.2 gigawatts during the 14th Five-Year Plan period. CLSA noted that nuclear power investment recorded a CAGR of 35% from 2021 to 2025, compared with 12% growth in power sector capital expenditure over the same period, significantly higher than overall fixed asset investment growth (3%) and GDP growth (5%), reflecting the role of power investment in stabilizing the economy through counter-cyclical measures.

CLSA said SH ELECTRIC (02727.HK) -0.035 (-1.029%) Short selling $2.76M; Ratio 11.040% and HARBIN ELECTRIC (01133.HK) -0.050 (-0.302%) Short selling $5.80M; Ratio 15.171% are major original equipment manufacturers for China's nuclear power sector, while YINGLIU (603308.SH) +2.250 (+5.206%) supplies reactor casting components. All three companies are expected to benefit from growth in the nuclear power business. The broker raised its earnings forecast for HARBIN ELECTRIC (01133.HK) -0.050 (-0.302%) Short selling $5.80M; Ratio 15.171% to reflect strong nuclear power business growth and margin improvement, and lifted its TP from HKD18 to HKD21 while maintaining an "Outperform" rating. SH ELECTRIC (02727.HK) -0.035 (-1.029%) Short selling $2.76M; Ratio 11.040% H shares and SH ELECTRIC (601727.SH) -0.050 (-0.712%) A shares both maintained "Outperform" ratings, with TPs of HKD3.9 and RMB8 respectively. YINGLIU (603308.SH) +2.250 (+5.206%) was assigned a TP of RMB80 with an "Outperform" rating. (ad/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-04 12:25.) (A Shares quote is delayed for at least 15 mins.)