A-share subscription | China Uranium (001280.SZ) opens subscription natural uranium production has been among the world's top for many years

On November 21st, China Uranium Industry (001280.SZ) started its IPO subscription with an issue price of 17.89 yuan per share and a subscription limit of 52,000 shares. The P/E ratio is 27.06 times, and it is listed on the Shenzhen Stock Exchange, with China Securities Co., Ltd. as its sponsor. According to the prospectus, China Uranium Industry is a mining company focused on the comprehensive utilization of natural uranium and radioactive associated mineral resources. During the reporting period, the company mainly engaged in the mining, smelting, sales, and trading of natural uranium resources, as well as the comprehensive utilization and sales of radioactive associated mineral resources such as monazite and uranium molybdenum. The company is a key player in China's natural uranium supply security team and a vital part of the country's nuclear industry system. It actively promotes the development of the international natural uranium industry and is committed to building a world-class mining company centered on uranium. The company has successfully overcome challenges in uranium mining such as multi-level mining coordination, "three highs" (high calcium, high iron alumina, high mineralization) uranium leaching, and scattered ore recovery, forming a complex sandstone uranium mine leaching development technology system represented by the CO2+O2 third-generation in-situ uranium leaching technology. After years of development, the company has established a complete and efficient organizational, team, capability, and technical system for natural uranium operations, focusing on sandstone uranium mines supplemented by hard rock uranium mines, and a domestic layout for the comprehensive utilization and recovery of radioactive associated resources. The company actively implements the national "Belt and Road" initiative, conducting overseas uranium resource development operations, with a focus on uranium-producing regions in Africa and Asia. The company's Rssing uranium mine in Namibia is set to be the sixth largest uranium mine in the world by 2022. The company is a leading enterprise in promoting the healthy and sustainable development of radioactive associated mineral resources industry, and its comprehensive utilization project has been approved by the Ministry of Industry and Information Technology, Ministry of Ecology and Environment, and the State Administration for Science, Technology, and Industry for National Defense. The company's comprehensive utilization business of radioactive associated mineral resources includes the production and sales of rare earth chloride and ammonium molybdate. The company has successfully applied green and efficient oxygen pressure leaching and smelting technology to the difficult and complex encapsulated sulfur-Uranium molybdenum raw ore processing in Zhangjiakou, Hebei, achieving scaled and efficient uranium and molybdenum leaching and utilization. The company is constructing the largest single capacity monazite comprehensive utilization project in GanZhou, JiangXi, and has a trial operation of the tantalum niobium ore comprehensive utilization project in LeYong, HuNan, further leading the industry towards green and high-quality development. The company is a specialist enterprise in the development of domestic natural uranium resources and has a leading position in the domestic natural uranium industry. As of the date of the prospectus signing, the company holds 17 domestic natural uranium or uranium molybdenum mining rights in regions with abundant and high-quality confirmed natural uranium resources in China, demonstrating a significant control of domestic natural uranium resources and clear geographical advantages. According to WNA data, the company's natural uranium production has consistently ranked among the top in the world for several years, with its Rssing uranium mine being the sixth largest uranium mine and the second largest open-pit uranium mine globally. The company actively implements the national "Belt and Road" initiative, advancing its presence in the global uranium-rich areas of Africa, Central Asia, among others, aiming to consolidate and expand its natural uranium production capacity in Africa, mainly in Namibia while also striving for new breakthroughs in international natural uranium resource layout. The company is an important participant, builder, and promoter in the international natural uranium industry, with partnerships including HAFAR Uranium, Cameco, and Orano, providing a high level of recognition and influence in the international market. In terms of finances, the company is expected to achieve an operating income of approximately 10.535 billion RMB, 14.801 billion RMB, and 17.279 billion RMB respectively in 2022, 2023, and 2024, with a net profit of approximately 1.520 billion RMB, 1.511 billion RMB, and 1.712 billion RMB during the same period.