Jia Electric's subsidiary signs a RMB 620 million nuclear main pump contract to supply two "Hualong One" units at Taipingling

After market close on October 12, according to an announcement by Jia Electric (SZ000922), its controlling subsidiary Harbin Electric Power Equipment Company Limited (the Power Equipment Company) signed the "Taipingling Project Units 5 and 6 LOT120F Reactor Coolant Pump Supply Contract" with China Nuclear Power Engineering Company Limited, with a contract price (including tax) of RMB 619.88 million. The contract was concluded on October 11, with the scope of work covering the design, manufacturing, and services of shaft-seal-type reactor coolant pumps, and delivery is scheduled for completion on October 15, 2031.

The project is located in Huidong County, Huizhou City, Guangdong Province, and plans to build 2 "Hualong One" Version 2.0 units. The Taipingling Project Units 5 and 6 were approved by the State Council on July 31, 2026, and are currently in the early stage of construction. China Nuclear Power Engineering Company Limited has no affiliated relationship with Jia Electric, has good credit standing, and has the capability to perform the contract; the two parties had previously signed a similar reactor coolant pump equipment procurement contract for Taipingling Units 3 and 4 in 2022.

It is reported that the Power Equipment Company is the only enterprise in China with the capability to simultaneously design and manufacture shaft-seal-type nuclear main pumps and their motors, as well as Generation III nuclear shielded main pump motors. Its nuclear main pumps have been applied in nuclear power projects such as "Hualong One," "Guohe One," and "Linglong One." The nuclear power business has become the core engine of Jia Electric's performance. In the first half of 2026, the company's operating revenue was RMB 2.699 billion, a year-on-year increase of 8.12%; net profit attributable to the parent company was RMB 185 million, a year-on-year increase of 40.40%, of which revenue from the nuclear power product segment was RMB 841 million, a year-on-year increase of 34.12%. The company stated that the smooth performance of the contract is expected to have a positive impact on future operating performance, and revenue will be recognized according to project completion progress.