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中广核矿业涨超7% 美国寻求扩大战略铀储备 机构称铀价向上修复可期
Zhi Tong Cai Jing· 2025-09-16 01:45
Group 1 - China General Nuclear Power Corporation (CGN) Mining (01164) saw a stock increase of over 7%, specifically 7.55%, reaching HKD 2.85 with a trading volume of HKD 134 million [1] - U.S. Energy Secretary Chris Wright suggested that the U.S. should consider expanding its strategic uranium reserves to reduce dependence on Russian supplies and enhance confidence in the long-term prospects of nuclear power [1] - According to Zheshang Securities, the global trend of nuclear power recovery remains unchanged, and the supply-demand tightness in the natural uranium market has not eased, indicating a potential upward correction in spot uranium prices [1] Group 2 - The company, as a specialized uranium resource development and operation platform under CGN Group, is expected to expand its resource portfolio alongside the group's increasing nuclear power installed capacity [1] - The current cycle of rising natural uranium prices is anticipated to lead to simultaneous growth in both volume and price for the company [1]
港股异动 | 中广核矿业(01164)涨超7% 美国寻求扩大战略铀储备 机构称铀价向上修复可期
智通财经网· 2025-09-16 01:41
Group 1 - The core viewpoint of the article highlights the positive market response for China General Nuclear Power Corporation (CGN) Mining, with a stock increase of over 7% following comments from the U.S. Energy Secretary regarding the expansion of strategic uranium reserves to reduce reliance on Russian supplies and boost confidence in the long-term prospects of nuclear power [1] - The report from Zheshang Securities indicates that the global nuclear power recovery trend remains unchanged, and the tight supply-demand dynamics in the natural uranium market have not eased, suggesting a potential upward correction in spot uranium prices [1] - The company, as a specialized uranium resource development and operation platform under CGN Group, is expected to benefit from the group's increasing nuclear power installed capacity, leading to growth in both volume and price during the current natural uranium upcycle [1]
中广核矿业(01164.HK):国际贸易影响短期利润 受益铀价长期上涨趋势
Ge Long Hui· 2025-08-28 12:10
Core Viewpoint - The company's 1H25 performance fell short of expectations, primarily due to declining natural uranium spot prices and losses in international trade business [1][2]. Financial Performance - The company reported a revenue of HKD 1.71 billion in 1H25, a year-on-year decrease of 58% - The net profit attributable to shareholders was a loss of HKD 67.57 million, marking a shift from profit to loss compared to the previous year [1]. - The average sales price for self-produced trade was USD 71.1 per pound, while the average cost was USD 72.85 per pound, resulting in a slight loss in self-produced trade [1]. Production and Sales - The company's equity natural uranium production was 632 tons (tU) in 1H25, with self-produced trade volume at 526 tU [1]. - The company achieved a production completion rate of 105% for the Shiyou company, producing 428 tU of natural uranium [1]. - The production costs for Shiyou's mines were USD 32.5 per pound and USD 27.7 per pound for the Yimin mine [1]. International Trade Business - The international trade business faced losses due to unit sales prices ranging from USD 58 to 61 per pound and costs between USD 68 to 74 per pound, leading to a negative impact on short-term profits [2]. - The average inventory cost exceeded contract selling prices, contributing to the losses [2]. Development Trends - The new sales framework agreement is expected to benefit from the upward trend in uranium prices, with a pricing structure that includes a higher fixed price and a greater proportion of spot pricing [2]. - The company plans to revise its 2026 production plan, reflecting the need for higher prices to stimulate capacity utilization [2]. Profit Forecast and Valuation - The company maintains its profit forecast, with the current stock price corresponding to a P/E ratio of 33.6 for 2025 and 20.6 for 2026 [3]. - The target price has been raised by 25% to HKD 3.14, reflecting a potential upside of 16% from the current stock price [3].
中广核矿业(01164):稀缺海外铀资源平台,受益铀价上行
NORTHEAST SECURITIES· 2025-07-10 02:53
Investment Rating - The report initiates coverage with a "Buy" rating for the company [5]. Core Views - The company is positioned as a rare overseas uranium resource platform, benefiting from rising uranium prices and the global nuclear power recovery [1][2]. - The company has signed a sales framework agreement with CGN Uranium for the years 2026 to 2028, ensuring a minimum annual purchase of 1,200 tons of natural uranium, with a pricing mechanism that favors the company [2]. - The demand for uranium is expected to grow due to China's ongoing nuclear power investments, with a forecast of 10 or more new units approved annually since 2022 [3]. Financial Summary - The company is projected to achieve revenues of HKD 86.2 billion and a net profit of HKD 3.4 billion in 2024, with a significant increase in net profit expected in the following years [1][4]. - Revenue forecasts for 2025, 2026, and 2027 are HKD 90.8 billion, HKD 100.2 billion, and HKD 109.4 billion respectively, reflecting year-on-year growth rates of 5%, 10%, and 9% [3]. - The projected net profit for the same years is HKD 6.1 billion, HKD 9.3 billion, and HKD 10.2 billion, with substantial growth rates of 79%, 51%, and 10% respectively [3][4]. Market Data - As of July 9, 2025, the closing price of the stock is HKD 2.27, with a 12-month price range of HKD 1.24 to HKD 2.58 [5]. - The company has a total market capitalization of HKD 18.17 billion and a total share count of 7.601 million [5].
中邮证券:维持中广核矿业(01164)“买入”评级 充分受益于铀价上行
智通财经网· 2025-06-10 08:22
Group 1 - The core viewpoint of the report is that China General Nuclear Power Corporation (CGN) Mining is on a fast track for development, with projected revenues and net profits showing significant growth from 2025 to 2027 [1] - The company is the only platform for overseas uranium resource development under CGN Group, with its parent company being China Uranium Development Co., Ltd., controlled by the State-owned Assets Supervision and Administration Commission [1] - The company has experienced rapid revenue growth following acquisitions, including the purchase of a 49% stake in a foreign company, leading to a substantial increase in uranium sales volume [1] Group 2 - The company benefits from three major advantages: strong internal demand for nuclear power from CGN Group, a broad potential market for growth, and more flexible pricing under new agreements [2] - The production cost of the company's uranium is among the lowest globally, with its mining operations expected to ramp up production as sulfuric acid supply stabilizes [2] Group 3 - The uranium market is currently experiencing a tight supply situation, influenced by geopolitical conflicts and a slow recovery in production from existing mines [3] - Although uranium prices have dipped to around $64 per pound due to low long-term contract activity, demand is expected to recover as nuclear power initiatives gain momentum in both China and the U.S. [3] - The overall supply growth is projected to be around 8.51% in 2024 and 6.03% in 2025, with a slowdown anticipated in 2026, while demand remains strong due to investments and the recovery of nuclear power installations [3]