CGN Mining reported HK$2.02 billion in revenue for the six months to 30 June 2026, a 19 % year-on-year rise driven by stronger uranium trading activity. Despite the top-line growth, loss attributable to shareholders expanded 18 % to HK$80.06 million, reflecting lower profits from its Kazakh investees and higher unit costs.
Key financials • Revenue: HK$2.02 billion (H1 2025: HK$1.71 billion) • Loss attributable to owners: HK$80.06 million (H1 2025: HK$67.57 million) • Basic loss per share: HK1.05 cents (H1 2025: HK0.89 cents) • No interim dividend declared • Cash and cash equivalents: HK$1.32 billion (31 Dec 2025: HK$0.94 billion) • Net assets: HK$4.48 billion; gearing ratio fell to 73 % from 91 % at year-end 2025
Operations Natural uranium trading contributed all reported revenue. The Group purchased and resold 173 tU during the period, generating HK$307 million. Average selling price reached USD87.93/lb U3O8 against an average cost of USD83.52/lb U3O8. Subsidiary CGN Global secured 596 tU of new sales contracts, delivered 1,173 tU and booked USD222 million in revenue.
Equity uranium output totalled 612 tU, while attributable reserves remained 17,600 tU.
Kazakh assets • Semizbay-U (49 % stake): Produced 333 tU (97 % of plan) amid sulphuric acid shortages and cost inflation. CGN Mining received HK$202 million in dividends and booked HK$57 million profit share, down 55 %. • Ortalyk (49 % stake): Output reached 915 tU (101 % of plan). Profit share fell 55 % to HK$81 million as higher sulphur costs and deferred deliveries compressed margins; no dividend received in H1.
Financial position Total assets decreased 11 % to HK$7.76 billion after a reduction in trade receivables. Bank borrowings dropped to HK$744 million, while loans from a fellow subsidiary stood at HK$1.78 billion. Cash build and lower debt cut the gearing ratio to 73 %.
Outlook Management will focus on expanding international uranium trading, completing annual production targets at Semizbay-U and Ortalyk, and strengthening risk control. Capital-market engagement and ESG initiatives remain priorities.
Corporate matters Board composition changed in February and June 2026; the Company states full compliance with the Corporate Governance Code after the appointment of an additional female independent director on 22 June 2026.
No material events occurred after 30 June 2026.
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