HK Stock Market Move | CGN MINING (01164) rises by over 7% again, SPUT Natural Uranium Trust intends to increase procurement, secondary demand continues to grow.

CGN MINING (01164) rose by more than 7%, as of the time of writing, it increased by 7.44% to HKD 4.62, with a turnover of HKD 2.29 billion. On the news front, on January 20th, the physical uranium trust SPUT submitted a preliminary prospectus for an initial public offering, planning to issue up to 2 billion US dollars of transferable, non-redeemable trust units within 25 months, with an annual purchase limit of physical uranium in the spot market not exceeding 9 million pounds. Guolian Minsheng Securities released a research report stating that the issuance amount corresponds to around 12.4%-15.9% of the natural uranium demand, with secondary demand continuing to increase. The bank pointed out that the first and second demand for natural uranium are accelerating rapidly, with production mines not meeting expected output speeds, and supply rigidity still existing. In addition, geopolitical factors catalyze short-term restocking demand, and uranium prices are expected to continue to strengthen. In terms of targets, uranium mining and trading companies are expected to benefit from the rise in uranium prices, and CGN MINING is recommended.