Core Viewpoint - China Uranium Corporation has successfully listed on the Shenzhen Stock Exchange, becoming the first natural uranium stock in the A-share market, with a significant initial price surge and a total market capitalization of 140.62 billion yuan [2][3]. Company Overview - China Uranium is a key subsidiary of China National Nuclear Corporation, specializing in the comprehensive utilization of natural uranium and radioactive co-mineral resources, playing a crucial role in ensuring the supply of natural uranium in China [3][4]. - The company aims to enhance its operational performance and shareholder value through standardized operations and capital empowerment, while contributing to national energy security and the "dual carbon" strategy [2][3]. Financial Performance - Projected revenues for China Uranium from 2022 to 2024 are 10.535 billion yuan, 14.8 billion yuan, and 17.279 billion yuan, respectively, with net profits of 1.52 billion yuan, 1.51 billion yuan, and 1.71 billion yuan [3]. - In the first half of 2025, the company achieved a revenue of 9.55 billion yuan and a net profit of 870 million yuan [3]. Fundraising and Investment Plans - The company plans to raise 4.11 billion yuan through its listing, which will be allocated to domestic natural uranium operations and the comprehensive utilization of radioactive co-mineral resources, as well as to supplement liquidity [4]. - China Uranium holds 19 mining rights and 6 exploration rights across uranium-rich regions in China, establishing a comprehensive production capacity layout [4]. Market Outlook - By 2040, China's nuclear power capacity is expected to reach 200 million kilowatts, with a projected threefold increase in natural uranium demand over the next 15 years, indicating significant growth potential for the company [4]. - The listing is anticipated to accelerate capacity expansion and enhance the domestic supply of nuclear fuel, thereby improving energy independence [4][5]. Industry Trends - The nuclear power sector in China has been experiencing a continuous increase in activity, with approvals for over 10 nuclear power units annually since 2022 [6]. - As of June 30, 2025, China had 58 operational nuclear power units with a total installed capacity of 61,007.74 MWe, and the cumulative power generation from these units increased by 8.06% compared to the previous year [6]. - Investment in nuclear power projects has also seen rapid growth, with a 23.3% year-on-year increase in completed investments from January to September 2025 [6]. Future Prospects - The nuclear power industry is expected to maintain a high growth trajectory, with China Uranium's listing enhancing its resource security and global influence [7]. - The combination of accelerated domestic nuclear power construction and a growing global supply-demand gap is likely to lead to a sustained high prosperity cycle in the nuclear industry for over a decade [7].
“天然铀第一股”中国铀业首日股价涨超280%