CGN MINING(HK:01164) Ge Long Hui·2025-07-11 03:18Group 1 - Company is a subsidiary of China General Nuclear Power Group, the largest nuclear power group in China and the third largest globally, focusing on uranium resource development and financing [1] - Company aims to become a leading international supplier of natural uranium by capitalizing on the global nuclear power recovery and increasing demand for natural uranium [1] - In 2024, the company expects to have an equity resource of 34,000 tons of uranium (tU) and an equity production of 1,324 tU, with projected revenue of HKD 8.62 billion and net profit of HKD 340 million [1] Group 2 - Company signed a sales framework agreement with CGN Uranium for the years 2026 to 2028, committing to an annual purchase of no less than 1,200 tons of natural uranium [2] - The pricing mechanism for the agreement includes a fixed price component set at USD 94.22 per pound, with annual sales caps of HKD 3.94 billion, HKD 4.40 billion, and HKD 4.56 billion for the respective years [2] Group 3 - China's nuclear power investment is expected to remain robust, with plans to approve the construction of at least 10 new reactors annually starting from 2022, leading to increased uranium demand [3] - As of the end of 2024, China is projected to have 102 operational and approved reactors, surpassing the United States and becoming the world's largest nuclear power market [3] - The company forecasts revenue growth from HKD 9.08 billion in 2025 to HKD 10.94 billion in 2027, with net profit expected to rise significantly during the same period [3]