The IPO of China National Uranium Corporation on the Shenzhen Stock Exchange main board has been inquired. The company's Rossing Uranium Mine is ranked sixth in global uranium mine production in 2022.

On July 18th, China Uranium Corporation Limited (referred to as "China Uranium") applied for a change in the listing review status on the Shenzhen Stock Exchange main board to "inquiry received". China Securities Co., Ltd. is its sponsor, with plans to raise 4.1 billion yuan. The prospectus shows that China Uranium is a mining company focusing on the comprehensive utilization of natural uranium and radioactive associated mineral resources. During the reporting period, it mainly engaged in the mining, smelting, sales and trade of natural uranium resources, as well as the comprehensive utilization and product sales of radioactive associated mineral resources such as monazite and uranium-molybdenum. China Uranium is a key player in ensuring the supply of natural uranium in China, a vital part of the country's nuclear industry system, and an important participant, builder, and promoter in the international natural uranium industry development. The company is dedicated to building a mining company with uranium as its foundation and world-class standards, undertaking the historic mission of creating a "strong nuclear cornerstone and nuclear power grain depot". The company actively practices the new development concept of innovation, coordination, green, openness, and sharing, and has successfully solved uranium mining challenges such as multilayer orebody co-mining, "three highs" (high calcium, high iron-aluminum, high mineralization) uranium ore leaching, and scattered ore body recovery. It has developed a complex sandstone uranium ore leaching technology system with CO2+O2 third-generation in-situ leaching uranium technology as its hallmark. After years of development, the company has established a complete and efficient organizational system, team system, capacity system, and technology system in the entire process of natural uranium operation. China Uranium focuses on sandstone uranium mining as the main resource, supplemented by hard rock uranium mining, and utilizes comprehensive recovery of radioactive associated resources to recycle natural uranium. The company actively implements the Belt and Road Initiative, engaging in overseas uranium resource development projects, with a focus on major uranium-producing regions in Africa and Asia. Among them, the Rssing Uranium Mine in Namibia, owned by the company, is ranked sixth globally in uranium mine production for 2022. China Uranium is a leading enterprise in promoting the healthy and sustainable development of the radioactive associated mineral resources development industry. Its projects in the comprehensive utilization of radioactive associated mineral resources have obtained approval and approval from the competent authorities such as the Ministry of Industry and Information Technology, the Ministry of Ecology and Environment, and the State Administration of Science, Technology, and Industry for National Defense. The company's comprehensive utilization of radioactive associated mineral resources business includes the utilization and sales of radioactive associated mineral resources such as monazite and uranium-molybdenum, with main products being rare earth chloride and ammonium dimolybdate. The company has built a comprehensive utilization project in Hengyang, Hunan, using monazite as raw material for efficient recovery of strategic resources, capable of energy, resource, reduction, and harmlessness treatment of rare earth tailings, filling an industrial gap. The company has successfully applied green and efficient oxygen pressure leaching and smelting technology to the extremely difficult and complex encapsulated sulfur Uranium-molybdenum original ore treatment in Zhangjiakou, Hebei, achieving scaled and efficient leaching and utilization of uranium and molybdenum. The company is planning to construct the largest monazite comprehensive utilization project in Ganzhou, Jiangxi, and a tantalum-niobium ore comprehensive utilization project in Leiyang, Hunan, leading the industry towards green and high-quality development. In terms of finance, China Uranium achieved operating income of approximately 8.906 billion yuan, 10.535 billion yuan, and 14.801 billion yuan in 2021, 2022, and 2023 respectively, with net profits of approximately 896 million yuan, 1.521 billion yuan, and 1.553 billion yuan during the same period. It is worth noting that China Uranium mentioned in the prospectus that the company faces the risk of declining performance. The market price of natural uranium products is mainly influenced by market supply and demand, major global political events, production capacity changes, enrichment service prices, and adjustments in international energy structure. During the reporting period, the overall international spot market price of natural uranium has steadily increased. According to the international natural uranium market conventions, the company signs long-term contracts with some customers and suppliers, usually based on fixed prices, average market prices over a period, and spot/long-term prices at the time of delivery. In addition, some of the company's natural uranium product sales prices are determined according to national policies. The company's international natural uranium trade pricing mainly refers to the U3O8 prices regularly published by two industry-recognized consulting firms (UxC Corp and TradeTech Corp), and there may be price differences between purchase and sale prices and price risk exposure. If the international natural uranium market price experiences significant fluctuations or policy changes leading to a decrease in the company's natural uranium product sales prices, it may have unfavorable effects on the company's operational performance.