Core Viewpoint - China Uranium Industry, known as the "first stock in uranium," saw a significant increase of nearly 350% on its debut, indicating strong market interest and potential growth in the uranium sector [1][3]. Company Performance - The company achieved operating revenues of CNY 105.35 billion, CNY 148.01 billion, and CNY 172.79 billion for the years 2022 to 2024, with year-on-year growth rates of 18.3%, 40.49%, and 16.74% respectively [5]. - The net profit attributable to shareholders for the same period was CNY 13.34 billion, CNY 12.62 billion, and CNY 14.58 billion, with growth rates of 62.01%, -5.38%, and 15.58% respectively [5]. - In the first three quarters of 2025, the company reported operating revenues of CNY 137.64 billion, a year-on-year increase of 23.17%, and a net profit of CNY 12 billion, up 26.03% year-on-year [5]. IPO Details - The IPO raised CNY 44.4 billion by issuing 24.818 million new shares, making it the third-largest IPO fundraising in A-shares this year [5][6]. - The funds will be allocated to two major projects involving seven engineering projects, including four projects for natural uranium production costing CNY 21.84 billion and three projects for the comprehensive utilization of radioactive co-associated minerals costing CNY 6.93 billion [5][6]. Market Outlook - China's nuclear power capacity is currently the largest in the world, with domestic natural uranium demand expected to triple over the next 15 years [8]. - The global demand for natural uranium is projected to rise to nearly 204,600 tons by 2040, indicating a significant growth opportunity for the uranium market [8]. - China Uranium Industry is positioned as a key player in ensuring the supply of natural uranium, contributing to the national nuclear industry and international uranium market development [8].