Changes in Hong Kong stocks | CGN Mining (01164) rose by more than 7%, uranium prices are expected to rise overall, and Damo is optimistic that the company's stock price will rise within 15 days

The Zhitong Finance App learned that CGN Mining (01164) rose by more than 7%. As of press release, it had risen 7.26% to HK$3.4, with a turnover of HK$186 million.

According to news, on December 3, China's uranium industry held a listing ceremony on the Shenzhen Stock Exchange and became the first natural uranium stock in the A-share market. According to the Damo Research Report, according to China's uranium industry declaration data, its IPO market value is 37 billion yuan, and net profit is expected to reach 1.6 billion to 1.65 billion yuan this year. As the first uranium mining company listed in the Mainland, the bank believes that the company will attract more investors' attention to the uranium sector and boost market confidence, while CGN Mining, the only uranium mining company listed in Hong Kong and participating in connectivity, will also benefit. The bank expects CGN Mining's stock price to rise 70% to 80% within 15 days.

China Merchants Securities believes that the continuous upgrading of nuclear power technology is a clean and efficient power supply solution. The process of electrification of terminals continues to boost electricity consumption. The AI outbreak is making demand for high-quality electricity more urgent. Combined with factors such as regional energy independence, the strategic position of nuclear power continues to strengthen and is recovering. In contrast to the contraction in capital expenditure for uranium ore over 10 years after the Fukushima incident, the short-term natural uranium gap is mainly based on stocks and the resumption of uranium ore production, etc. In the medium to long term, the pace of release of additional production capacity is uncertain, and production cuts in some mines may further increase supply-side pressure. Judging from the above, uranium prices will maintain an overall upward trend in the future, and the profit performance of uranium mining companies is expected to continue to be optimized.