CGN MINING(HK:01164) Zhi Tong Cai Jing·2026-01-16 02:05Core Viewpoint - China General Nuclear Power Corporation (CGN) Mining has seen its stock price increase by over 4%, currently trading at HKD 3.79 with a transaction volume of HKD 87.39 million. The company announced its uranium production figures for 2025, indicating strong performance in both its joint ventures [1]. Group 1: Company Performance - In 2025, CGN's 49%-owned Xie Company produced 862.2 tons of natural uranium, achieving a completion rate of 100.1% of its annual plan, while the 49%-owned Ao Company produced 1,836.8 tons, with a completion rate of 102.0% [1]. - For the fourth quarter of 2025, CGN's invested mines produced a total of 702.5 tons of natural uranium, with a completion rate of 94.6% for the quarter. Xie Company contributed 249.2 tons, and Ao Company contributed 453.3 tons [1]. Group 2: Industry Insights - According to Guojin Securities, the supply side of uranium is expected to see a short-term recovery due to the resumption of mining operations, but the long-term supply capacity is facing continuous decline. Additionally, secondary supply is unlikely to generate effective increments in the short term [1]. - On the demand side, the growth of nuclear power installations is being driven by energy security, the transition to clean energy, and the demand for AI-related electricity, leading to a steady increase in demand for natural uranium. The global supply-demand gap for natural uranium is expected to persist [1]. - With expectations of tight supply, the long-term contract prices for uranium are anticipated to continue rising [1].