HK Stock Market Move | CNNC INT'L (02302) rose nearly 14% in early trading. The company expects the net profit attributable to its uranium trading business to increase last year.

CNNC INT'L (02302) rose nearly 14% in early trading, up 10.63% as of the time of writing, at 6.97 Hong Kong dollars, with a trading volume of 17.56 million Hong Kong dollars. On the news front, CNNC INT'L announced promising earnings, with the expected revenue of the group in 2025 not less than about 2.46 billion yuan, and gross profit not less than about 260 million yuan, an increase of not less than 33.6% and not less than 11.1% respectively. The increase in revenue is mainly due to the increase in trading volume of uranium trading business. After deducting all other expenses incurred in 2025, it is expected that the continuous operation of the uranium trading business in 2025 will record a net profit attributable to shareholders of not less than about 190 million yuan. It is worth noting that recently, UBS released a research report stating that the global uranium mining industry is entering a prosperous cycle of policy, industry, and supply-demand resonance, especially with the restart of nuclear power strategies in multiple countries, which will become the core drive on the demand side. Currently, the spot price of uranium has reached $85 per pound, an increase of 25% year-on-year. UBS has significantly raised its uranium price forecast, expecting the average uranium price to reach $95 per pound from 2026 to 2028.