<p>中国广核（SEHK:1816）已全面启动其赵苑 1 号反应堆的建设，采用先进的 HPR1000 技术。这一最新里程碑标志着其持续的增长雄心以及在核电行业日益突出的角色。</p>
<p>查看我们对中国广核的最新分析。</p>
<p>中国广核赵苑 1 号项目的新动力是在其股价上涨 10.26% 的一年之后，五年内的总股东回报达到了令人印象深刻的 129.10%。这种长期的超额表现，加上最近的扩张消息，表明投资者对中国核电的增长潜力和改善前景越来越感兴趣。</p>
<p>如果该行业的新活力让你寻找更多机会，这可能是发现高内部持股的快速增长股票的合适时机。</p>
<p>但考虑到中国广核的良好业绩记录和雄心勃勃的项目管道已经引起了投资者的关注，该股票是否仍在吸引人的估值水平上交易？还是市场已经将这些强劲的增长前景计入了价格？</p>
<h2>14.8 倍的市盈率：是否合理？</h2>
<p>根据中国广核当前 14.8 倍的市盈率，该股票相对于其同行组显得昂贵，尽管最近受到关注和增长动力。截至最后收盘价为 3.01 港元，该比率表明投资者正在为行业替代品支付溢价。</p>
<p>市盈率（P/E）衡量投资者今天愿意为未来每一美元的收益支付多少。这使其成为公用事业和能源公司的核心指标。在中国广核的案例中，14.8 倍的倍数突显了对其利润前景和项目管道的乐观情绪。然而，这也引发了对未来收益是否能证明这一高价的谨慎。</p>
<p>与同行相比，中国广核的市盈率远高于行业平均水平 8.2 倍。它的交易价格也高于其计算出的合理市盈率 12.3 倍，这表明市场可能在相对于可能的收益能力上高估了该股票。如果投资者情绪恢复到更典型的水平，该倍数可能会向这一合理价值压缩。</p>
<p>探索中国广核的 SWS 合理比率</p>
<p><strong>结果：14.8 倍的市盈率（高估）</strong></p>
<p>然而，收入和净利润增长放缓，或行业情绪的转变，可能会挑战市场对中国广核的乐观前景。</p>
<p>了解影响中国广核叙述的主要风险。</p>
<h2>另一种观点：SWS DCF 模型显示低估</h2>
<p>虽然市盈率指向中国广核为昂贵，但我们的 DCF 模型呈现出更乐观的前景。当前股价为 3.01 港元，低于我们估计的合理价值 4.70 港元的 35.9%。市场是否低估了长期现金流？</p>
<p>了解 SWS DCF 模型如何得出其合理价值。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/1ee0ea8d-622f-4f7e-b8b3-dad4d0114071/chart/dcf?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/1ee0ea8d-622f-4f7e-b8b3-dad4d0114071/chart/dcf"/></p>
<p>1816 年截至 2025 年 11 月的折现现金流</p>
<p>Simply Wall St 每天对全球每只股票进行折现现金流（DCF）分析（例如查看中国广核）。我们展示了完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 919 只基于现金流的低估股票。如果您保存筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
<h2>构建您自己的中国广核叙述</h2>
<p>如果您对故事有不同看法或想深入了解数字，您可以在几分钟内构建自己的叙述（按您的方式）。</p>
<p>您对中国广核研究的一个很好的起点是我们的分析，突出 3 个关键奖励和 1 个重要警示信号，这可能会影响您的投资决策。</p>
<h2>不要错过更多引人注目的投资选择</h2>
<p>聪明的投资者总是走在前面。让 Simply Wall St 的顶级筛选器帮助您在机会爆发之前抓住下一个大机会。</p>
<ul>
<li>通过查看这些 919 只基于现金流的低估股票，利用以较低价格交易的现金生成公司，市场定价错误可能会提升您的回报。</li>
<li>通过查看这 30 只医疗保健 AI 股票，抢占医疗保健下一个浪潮的先机，这些公司正在用先进的人工智能革新医学。</li>
<li>通过审查这 81 只加密货币和区块链股票，利用新的数字趋势，发现推动加密货币和区块链采用增长的创新企业。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 它不构成购买或出售任何股票的推荐，也不考虑您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在任何提到的股票中没有持仓。</em></p>

中国广核

中广核电力

<p>中国广核（SEHK:1816）已开始建设其赵原 1 号反应堆，采用 HPR1000 技术。尽管过去一年股价上涨了 10.26%，五年总股东回报率达到 129.10%，但其当前市盈率为 14.8 倍，相较于行业平均的 8.2 倍显示出被高估。然而，折现现金流模型表明该股票被低估，交易价格比其公允价值估计的 4.70 港元低 35.9%。投资者应考虑乐观的长期现金流前景和潜在风险</p>

<p>CGN Power (SEHK:1816) has kicked off full-scale construction of its Zhaoyuan Unit 1 reactor, leveraging advanced HPR1000 technology. This latest milestone signals ongoing growth ambitions and an increasingly prominent role in the nuclear power sector.</p>
<div class="lb-trans"><p>中国广核（SEHK:1816）已全面启动其赵苑 1 号反应堆的建设，采用先进的 HPR1000 技术。这一最新里程碑标志着其持续的增长雄心以及在核电行业日益突出的角色。</p>
</div><p>See our latest analysis for CGN Power.</p>
<div class="lb-trans"><p>查看我们对中国广核的最新分析。</p>
</div><p>The fresh momentum from CGN Power’s Zhaoyuan Unit 1 project comes after a year in which its share price has climbed 10.26% and total shareholder return over five years is an impressive 129.10%. This kind of long-term outperformance, combined with recent expansion news, suggests investors are becoming more interested in both the growth potential and the improving outlook for nuclear power in China.</p>
<div class="lb-trans"><p>中国广核赵苑 1 号项目的新动力是在其股价上涨 10.26% 的一年之后，五年内的总股东回报达到了令人印象深刻的 129.10%。这种长期的超额表现，加上最近的扩张消息，表明投资者对中国核电的增长潜力和改善前景越来越感兴趣。</p>
</div><p>If the sector’s renewed energy has you looking for more opportunities, this could be the right moment to discover fast growing stocks with high insider ownership.</p>
<div class="lb-trans"><p>如果该行业的新活力让你寻找更多机会，这可能是发现高内部持股的快速增长股票的合适时机。</p>
</div><p>But with CGN Power’s solid track record and ambitious project pipeline already gaining investor attention, is the stock still trading at an attractive valuation? Or has the market already priced in these strong growth prospects?</p>
<div class="lb-trans"><p>但考虑到中国广核的良好业绩记录和雄心勃勃的项目管道已经引起了投资者的关注，该股票是否仍在吸引人的估值水平上交易？还是市场已经将这些强劲的增长前景计入了价格？</p>
</div><h2>Price-to-Earnings of 14.8x: Is it justified?</h2>
<div class="lb-trans"><h2>14.8 倍的市盈率：是否合理？</h2>
</div><p>Based on CGN Power’s current price-to-earnings ratio of 14.8x, the stock looks expensive relative to its peer group, despite recent attention and growth momentum. As of the last close at HK$3.01, this ratio suggests investors are paying a premium over sector alternatives.</p>
<div class="lb-trans"><p>根据中国广核当前 14.8 倍的市盈率，该股票相对于其同行组显得昂贵，尽管最近受到关注和增长动力。截至最后收盘价为 3.01 港元，该比率表明投资者正在为行业替代品支付溢价。</p>
</div><p>The price-to-earnings (P/E) ratio measures how much investors are willing to pay today for a dollar of future earnings. This makes it a core metric for utilities and energy companies. In CGN Power’s case, the 14.8x multiple highlights optimism about its profit outlook and project pipeline. However, it also prompts caution on whether future earnings justify this elevated price tag.</p>
<div class="lb-trans"><p>市盈率（P/E）衡量投资者今天愿意为未来每一美元的收益支付多少。这使其成为公用事业和能源公司的核心指标。在中国广核的案例中，14.8 倍的倍数突显了对其利润前景和项目管道的乐观情绪。然而，这也引发了对未来收益是否能证明这一高价的谨慎。</p>
</div><p>Compared to peers, CGN Power’s P/E is much higher than the sector average of 8.2x. It also trades above its computed fair price-to-earnings ratio of 12.3x, indicating the market may be overpricing the shares relative to likely earnings power. If investor sentiment returns to more typical levels, the multiple could compress toward this fair value.</p>
<div class="lb-trans"><p>与同行相比，中国广核的市盈率远高于行业平均水平 8.2 倍。它的交易价格也高于其计算出的合理市盈率 12.3 倍，这表明市场可能在相对于可能的收益能力上高估了该股票。如果投资者情绪恢复到更典型的水平，该倍数可能会向这一合理价值压缩。</p>
</div><p>Explore the SWS fair ratio for CGN Power</p>
<div class="lb-trans"><p>探索中国广核的 SWS 合理比率</p>
</div><p><strong>Result: Price-to-Earnings of 14.8x (OVERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：14.8 倍的市盈率（高估）</strong></p>
</div><p>However, factors like slowing revenue and net income growth, or a shift in sector sentiment, could challenge the market’s bullish outlook for CGN Power.</p>
<div class="lb-trans"><p>然而，收入和净利润增长放缓，或行业情绪的转变，可能会挑战市场对中国广核的乐观前景。</p>
</div><p>Find out about the key risks to this CGN Power narrative.</p>
<div class="lb-trans"><p>了解影响中国广核叙述的主要风险。</p>
</div><h2>Another View: SWS DCF Model Shows Undervaluation</h2>
<div class="lb-trans"><h2>另一种观点：SWS DCF 模型显示低估</h2>
</div><p>While the price-to-earnings ratio points to CGN Power as expensive, our DCF model presents a more optimistic picture. The shares currently trade at HK$3.01, which is 35.9% below our estimate of fair value at HK$4.70. Could the market be underestimating long-term cash flows?</p>
<div class="lb-trans"><p>虽然市盈率指向中国广核为昂贵，但我们的 DCF 模型呈现出更乐观的前景。当前股价为 3.01 港元，低于我们估计的合理价值 4.70 港元的 35.9%。市场是否低估了长期现金流？</p>
</div><p>Look into how the SWS DCF model arrives at its fair value.</p>
<div class="lb-trans"><p>了解 SWS DCF 模型如何得出其合理价值。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/1ee0ea8d-622f-4f7e-b8b3-dad4d0114071/chart/dcf" alt="" original-src="https://images.simplywall.st/company/1ee0ea8d-622f-4f7e-b8b3-dad4d0114071/chart/dcf"/></p>
<p>1816 Discounted Cash Flow as at Nov 2025</p>
<div class="lb-trans"><p>1816 年截至 2025 年 11 月的折现现金流</p>
</div><p>Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out CGN Power for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 919 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.</p>
<div class="lb-trans"><p>Simply Wall St 每天对全球每只股票进行折现现金流（DCF）分析（例如查看中国广核）。我们展示了完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 919 只基于现金流的低估股票。如果您保存筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
</div><h2>Build Your Own CGN Power Narrative</h2>
<div class="lb-trans"><h2>构建您自己的中国广核叙述</h2>
</div><p>If you see the story differently or want to dive deeper into the numbers yourself, you can build your own narrative in just a few minutes (Do it your way).</p>
<div class="lb-trans"><p>如果您对故事有不同看法或想深入了解数字，您可以在几分钟内构建自己的叙述（按您的方式）。</p>
</div><p>A great starting point for your CGN Power research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.</p>
<div class="lb-trans"><p>您对中国广核研究的一个很好的起点是我们的分析，突出 3 个关键奖励和 1 个重要警示信号，这可能会影响您的投资决策。</p>
</div><h2>Don’t Miss Out on More Compelling Investment Picks</h2>
<div class="lb-trans"><h2>不要错过更多引人注目的投资选择</h2>
</div><p>Smart investors are always moving ahead. Let Simply Wall St’s top-rated screeners help you catch the next big opportunity before it breaks out.</p>
<div class="lb-trans"><p>聪明的投资者总是走在前面。让 Simply Wall St 的顶级筛选器帮助您在机会爆发之前抓住下一个大机会。</p>
</div><ul>
<li>Take advantage of cash-generating companies trading at lower prices by checking out these 919 undervalued stocks based on cash flows, where market mispricings could boost your returns.</li>
<li>Get ahead in healthcare’s next wave by seeing these 30 healthcare AI stocks, featuring firms that are revolutionizing medicine with advanced artificial intelligence.</li>
<li>Capitalize on new digital trends by reviewing these 81 cryptocurrency and blockchain stocks and spot innovative businesses driving growth in cryptocurrency and blockchain adoption.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过查看这些 919 只基于现金流的低估股票，利用以较低价格交易的现金生成公司，市场定价错误可能会提升您的回报。</li>
<li>通过查看这 30 只医疗保健 AI 股票，抢占医疗保健下一个浪潮的先机，这些公司正在用先进的人工智能革新医学。</li>
<li>通过审查这 81 只加密货币和区块链股票，利用新的数字趋势，发现推动加密货币和区块链采用增长的创新企业。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 它不构成购买或出售任何股票的推荐，也不考虑您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在任何提到的股票中没有持仓。</em></p>
</div>

中广核电力（SEHK:1816）在启动招远 1 号机组建设后，其估值引发关注