HK Stock Market Move | CGN MINING (01164) surged by over 9% again, with the company's performance expected to benefit from the upward trend in uranium prices, production increases, and improvements in pricing mechanisms.

CGN MINING (01164) rose by over 9%, as of the time of release, it rose by 9.21%, reaching HK$4.98, with a turnover of 2.4 billion Hong Kong dollars. In terms of news, on January 27, CGN Power Co., Ltd. Group learned from "Plan 14th Five-Year" that China General Nuclear Power Corporation has a total of 16 nuclear power units approved by the state, starting construction on 10 units, and completing construction on 4 units. Up to now, there are 28 nuclear power units in operation, 20 units under construction, with a total installed capacity of over 56 million kilowatts. It is reported that CGN is China's largest and the world's second largest nuclear power operator. In addition to the units in operation, the number of units under construction approved by CGN ranks first in the world. Guolian Minsheng Securities released a research report stating that looking ahead to 2026, the upward trend of uranium prices, coupled with the expectation of increased production and pricing mechanism improvements, CGN MINING's performance is expected to accelerate. According to the company's new sales framework agreement, the forecasted sales volume for 2026-2028 is 1438/1617/1598tU, with a year-on-year growth rate of +8.7%/+12.4%/-1.2%, primarily driven by the release of production from overseas mining companies. In addition, the new sales framework agreement has raised the benchmark price from $61.78 to $94.22 per pound U3O8, increased the annual escalation factor from 3.5% to 4.1%, the spot price ratio from 60% to 70%, enhancing the company's performance flexibility, and is expected to continue to benefit from the increase in uranium prices in the future.