HK Stock Market Move | CGN MINING (01164) opened at more than 3% higher. Russia restricts exports of enriched uranium to the United States. The long-term supply and demand gap in natural uranium may widen.

CGN MINING (01164) opened more than 3% higher, rising 3.35% to 1.85 Hong Kong dollars as of the time of the report, with a trading value of 4.2088 million Hong Kong dollars. On the news front, the Russian government announced on November 15 that it would implement temporary restrictions on the export of enriched uranium to the United States in response to the US ban on importing Russian uranium products. It is reported that US President Biden signed a law in May this year banning the import of Russian uranium products to reduce America's reliance on Russia in the civil nuclear energy sector. In addition, CGN MINING recently announced that its affiliated companies produced a total of 692.6 tons of uranium in the third quarter, with a completion rate of 97.2%. Huayuan Securities recently pointed out that the shortage of AI electricity has led cloud companies to compete for nuclear power assets, and a new round of nuclear power resurgence has made natural uranium a key resource in the AI era. Currently, the global nuclear power industry is entering a high prosperity cycle, with levels expected to mimic those of the oil crisis in the 1970s and 1980s, leading to a steady increase in demand for natural uranium. With a high concentration of natural uranium supply and limited primary supply increment, the gradual decline in secondary supply may widen the supply-demand gap in the medium to long term, driving the central price of natural uranium upwards.