On September 30, CGN MINING rose 6.3% in regular trading, trading at HK$2.18/share, with turnover of HK$32.74 million. Multiple positive catalysts continued to drive the uranium mining sector.

On the news front, natural uranium long-term contract prices hit a record high of US$96.5 per pound in August, while global nuclear power expansion accelerated. Norway announced plans to restart nuclear power construction, and China recently approved eight new nuclear power units, reinforcing demand expectations. Broker research notes highlighted that upstream uranium supply remains tight amid accelerating nuclear builds, supporting sustained price gains.

CGN MINING, a natural uranium producer and trader backed by a major nuclear power enterprise, reported Q2 uranium output of 667.8tU from its Kazakhstan mines, achieving a 103.3% plan completion rate. For H1, revenue grew 19% year-over-year to approximately RMB 2.025 billion, though adjusted net loss widened to RMB 80 million. CLSA initiated coverage with an Outperform rating and a target price of HK$4.75, while CMBI maintained a Buy rating with a HK$3.37 target.

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