HK Stock Market Move | CGN MINING (01164) rose by over 4% again with uranium prices showing strength in the near term. Expectations of increased US stockpile purchases have catalyzed the rise in uranium prices.

CGN MINING (01164) rose more than 4% again, as of the time of writing, up 3.93% to HK $3.97, with a turnover of HK $173 million. On the news front, the current price of natural uranium and long-term contract prices have both surpassed a 25-year high. The spot price of natural uranium on January 16 rose by $85 per pound, exceeding the previous high of $83.5 per pound in 2025; the long-term contract price in December 2025 reached $86.5 per pound, a month-on-month increase of 1% and a year-on-year increase of 7%. According to a research report released by Huatai, on January 14, US President Trump signed an executive order on the "232 provisions," determining that natural uranium is a "critical mineral for processing and derivative products," and will take all appropriate actions to ensure sufficient supply of natural uranium and mitigate the fragility of the supply chain. Combining this with the previous statement by the US Secretary of Energy that "the United States needs to increase its strategic uranium reserves," we believe that the US uranium restocking cycle is expected to advance, further strengthening the logic of the uranium mining sector from the demand side. In addition, with supply-side bottlenecks being somewhat rigid, we are optimistic that uranium prices are likely to continue to be in an upward trend.