CGN MINING(HK:01164) Zhi Tong Cai Jing·2026-01-28 02:42Group 1 - The core viewpoint of the article highlights the significant increase in the stock price of China General Nuclear Power Corporation (CGN) Mining, which rose by 9.21% to HKD 4.98, with a trading volume of HKD 240 million [1] - During the 14th Five-Year Plan period, CGN has received national approval for 16 nuclear power units, with 10 units starting construction and 4 units completed and put into operation. Currently, CGN operates 28 units and has 20 units under construction, with a total installed capacity exceeding 56 million kilowatts [1] - CGN is recognized as the largest nuclear power operator in China and the second largest globally, with the highest number of approved units under construction worldwide [1] Group 2 - According to a report from Guolian Minsheng Securities, the outlook for CGN Mining's performance is optimistic, with expectations of accelerated earnings release due to rising uranium prices, increased production, and improved pricing mechanisms by 2026 [1] - The new sales framework agreement anticipates uranium sales volumes of 1438, 1617, and 1598 tons for the years 2026 to 2028, reflecting year-on-year growth rates of +8.7%, +12.4%, and -1.2%, primarily driven by production releases from the company's mines [1] - The pricing formula in the new sales agreement has been adjusted, raising the base price from USD 61.78 to USD 94.22 per pound of U3O8, with the annual increment factor increased from 3.5% to 4.1%, and the proportion of spot prices raised from 60% to 70%, enhancing the company's earnings elasticity and positioning it to benefit from rising uranium prices in the future [1]