HK Stock Market Move | CGN MINING (01164) rose nearly 9% in the afternoon as the long-term price of natural uranium hit a historic high. The company is expected to fully benefit from the price increase.

CGN MINING (01164) rose nearly 9% in the afternoon. As of this writing, it has increased by 7.20%, reaching HKD 2.605, with a trading volume of HKD 102 million. In terms of news, the price of natural uranium long-term contracts in August reached USD 96.5 per pound, marking a continuous historic high. It is noteworthy that in July, the State Council approved eight reactor units at once. As of September 2026, there are currently 35 units under construction with an installed capacity of 42 GW. A total of 24 units have been approved with an installed capacity of 29 GW. The units currently under construction are expected to gradually begin operation from 2026 to 2031, leading to an acceleration in nuclear power generation starting in 2026. CITIC Haitong has published a research report stating that the increase in nuclear power construction and tight upstream mineral supply are contributing to the continued rise in natural uranium prices. As a natural uranium production and trading company backed by a nuclear power enterprise, CGN MINING is expected to fully benefit from the upward trend in natural uranium prices. The adjustment of the benchmark price for long-term contracts in 2026 indicates that annual performance growth can be anticipated for the company.