Changes in Hong Kong stocks | CGN Mining (01164) rose more than 13% in early trading, Amazon invested more than 500 million US dollars to develop nuclear power supply systems

The Zhitong Finance App learned that CGN Mining (01164) rose more than 13% in early trading. As of press release, it had risen 10.56% to HK$1.78, with a turnover of HK$574.605 million.

According to the news, on October 16, Amazon announced the signing of an agreement with power company Dominion Energy to jointly explore the possibility of developing a small modular nuclear reactor near the existing North Anna nuclear power plant. Amazon is the latest major technology company to buy nuclear energy to meet the growing demand for data centers. Amazon has invested more than 500 million US dollars in this field. Google and Microsoft have announced similar plans.

Zheshang Securities previously stated that CGN Mining is the only investment and financing platform for overseas uranium resource development under CGN Group, China's largest nuclear power group. Driven by the current nuclear power recovery cycle, the natural uranium supply and demand pattern continues to tighten, and uranium prices are expected to continue to rise. We are optimistic that the company will continue to explore high-quality uranium resources around the world based on the CGN Group's stable natural uranium demand guarantee and support from existing high-quality resources, further opening up room for growth.