CITIC Securities: The inflection point of the electricity price cycle has arrived, and nuclear power is regaining elasticity.

CITIC Securities research report states that coastal supply and demand are improving, and it is expected that nuclear power will soon emerge from the 20242026 electricity price downturn cycle; the commissioning cycle for nuclear power units under construction has begun, and rising volume and prices will help nuclear power companies enter a new round of earnings release; the current market has not yet fully priced in the earnings catalyst for nuclear power companies from rising electricity prices, and the sector valuation still has a strong margin of safety.