Core Viewpoint - The company plans to establish a holding subsidiary in Dubai, UAE, to engage in small modular reactor (SMR) related business activities through its wholly-owned subsidiary, Jerry Middle East Company, and Vice President Li Weibin [1] Group 1: Investment Details - The registered capital of the new holding subsidiary is proposed to be 10 million AED, approximately 19.07 million RMB [1] - Jerry Middle East Company will contribute 9.4 million AED, accounting for 94% of the registered capital [1] - Li Weibin will contribute 600,000 AED, representing 6% of the registered capital [1]

Group 1 - The energy transition is driving a demand inflection point, with limited new uranium supply due to low capital expenditure over the past decade, leading to a tight balance in natural uranium supply and demand [1] - Nuclear power plays a crucial role in energy transition and carbon neutrality, providing stable clean energy and supporting the recovery of the nuclear industry, with a new wave of nuclear power construction expected globally [1] - Countries like China, the US, France, and Japan are advancing nuclear power projects, which will likely increase uranium demand, while the long-term low uranium prices and limited new mining supply create a favorable environment for price increases [2] Group 2 - China General Nuclear Power Corporation (CGN) reported a production of 659.1 tons of natural uranium in Q1 2025, with a completion rate of 110.7%, and holds 1,262 tons of natural uranium with an average cost of $71.37 per pound [3] - CGN's international sales company expects a significant negative impact on gross profit due to fluctuations in market prices, with average sales costs between $68-$74 per pound and average sales prices between $58-$61 per pound for the first half of 2025 [3] - China Nuclear International, the overseas uranium resource platform of China National Nuclear Corporation, reported a significant increase in uranium trade, with sales of approximately 577,000 pounds and total revenue of HKD 1.841 billion, a year-on-year increase of 217% [3]