Core Viewpoint - China Uranium Industry (001280.SZ) has launched its IPO on the Shenzhen Main Board, focusing on the comprehensive utilization of natural uranium and radioactive co-associated mineral resources, and is the third largest IPO in A-shares this year [1][8]. Company Overview - China Uranium Industry specializes in the mining, sales, and trade of natural uranium resources, as well as the comprehensive utilization and sales of co-associated radioactive minerals such as monazite, uranium-molybdenum, and tantalum-niobium [1][6]. - The company is a key player in China's natural uranium supply, being the main entity in the natural uranium mining sector of the China National Nuclear Corporation (CNNC) [5][6]. Financial Metrics - The IPO price is set at 17.89 CNY per share, with an institutional offering price of 18.45 CNY per share, resulting in a market capitalization of 37 billion CNY [2]. - The company has a P/E ratio of 27.06, slightly below the industry average of 27.57 [2]. Fundraising and Investment Plans - The company plans to allocate 13.80 billion CNY (33.58%) of the raised funds to the Inner Mongolia Naling project, with additional investments in other uranium mining projects [4][5]. - Other significant allocations include 4.20 billion CNY for the second phase of the Bayan Ula uranium project and 3.10 billion CNY for the expansion of the Xinjiang Tianshan uranium project [4]. Market Position and Growth Potential - China Uranium Industry is among the top ten global producers of natural uranium, with a strong presence in both domestic and international markets [6]. - The company has long-term supply contracts with major global uranium mining companies and has established good relationships with downstream nuclear power operators [6]. Performance Outlook - The company reported revenues of 10.535 billion CNY, 14.801 billion CNY, and 17.279 billion CNY for the years 2022, 2023, and 2024, respectively, with net profits of 1.334 billion CNY, 1.262 billion CNY, and 1.458 billion CNY [6]. - For the first three quarters of 2025, the company achieved a revenue of 13.764 billion CNY and a net profit of 1.2 billion CNY [6]. Market Trends - The global demand for natural uranium is expected to grow significantly, with projections indicating an increase from 67,500 tons in 2024 to 150,500 tons by 2040, while the production is only expected to reach 60,200 tons in 2024 [5][6]. - The international uranium market has seen a rising trend in prices from 2022 to 2024, which has positively impacted the company's performance [7].
年内第三大IPO，铀业第一股今日上市丨打新早知道