HK Stock Market Move | CGN MINING (01164) surged nearly 9% this afternoon as the price of long-term contracts for natural uranium reached an all-time high. The company is expected to fully benefit from the price increase.

CGN MINING (01164) rose nearly 9% in the afternoon. As of the time of writing, it is up 7.20%, trading at HKD 2.605, with a transaction volume of HKD 102 million. In terms of news, the price of natural uranium long-term contracts in August reached USD 96.5 per pound, continuously setting historical highs. Notably, in July, the State Council approved the construction of 8 nuclear units in one go. As of September 2026, there are currently 35 units under construction, with a total capacity of 42GW. Approval has been given for 24 units with a capacity of 29GW, and the units under construction are expected to be gradually put into operation from 2026 to 2031, with a gradual acceleration of nuclear power generation expected in 2026. Guotai Junan published a research report stating that, benefiting from the acceleration of nuclear power construction and tight upstream mineral supply, the price of natural uranium continues to rise. CGN MINING, as a natural uranium production and trading company backed by nuclear power enterprises, is expected to fully enjoy the upward trend in natural uranium prices. The adjustment of the benchmark price for long-term contracts in 2026 is expected to lead to an overall increase in annual performance.