CGN MINING(HK:01164) Zhi Tong Cai Jing·2026-01-26 03:21Core Viewpoint - China General Nuclear Power Corporation (CGN) Mining (01164) has seen its stock price increase by over 7%, currently trading at 4.62 HKD with a transaction volume of 229 million HKD, indicating strong market interest in uranium-related investments [1] Group 1: Market Developments - On January 20, the physical uranium trust SPUT submitted a preliminary simplified prospectus, planning to issue up to 2 billion USD in transferable, non-redeemable trust shares over 25 months, with an annual procurement limit of 9 million pounds of uranium in the spot market [1] - According to Guolian Minsheng Securities, the issuance amount corresponds to a procurement volume that accounts for approximately 12.4%-15.9% of the total uranium demand, indicating a sustained growth in secondary demand [1] Group 2: Supply and Demand Dynamics - The report highlights that both primary and secondary demand for uranium are accelerating, while the production increase from existing mines is not meeting expectations, leading to a rigid supply situation [1] - Geopolitical factors are also contributing to short-term replenishment demand, suggesting that uranium prices are likely to continue strengthening [1] Group 3: Investment Recommendations - Companies involved in uranium mining and trading are expected to benefit from the rising uranium prices, with a specific recommendation for CGN Mining as a favorable investment opportunity [1]