CGN MINING (HKG: 01164) shares have risen sharply, gaining over 6% in today's trading session.
At the time of writing, the stock was up 5.73% to HK$2.40, with a trading turnover of HK$24.32 million.
The company recently issued an announcement regarding its international trade operations. For the first half of 2026, the natural uranium sales business of its subsidiary, CGN International Uranium Product Sales Co., Ltd. (CGN International Sales Company), employed a two-end locked trade model, resulting in stable profit at the operational level.
The announcement noted that due to the impact of the weighted average cost accounting method, the weighted average cost of inventory on the books during this period was higher than the selling price of sales contracts executed concurrently. Consequently, the company expects the gross profit of CGN International Sales Company for the period to be somewhat adversely affected.
Regarding its self-produced and contracted sales business, to coordinate overall business resources and meet customer delivery requirements, the fulfillment and delivery of some of the group's annual natural uranium sales contracts will be postponed to the second half of the year. This adjustment is not expected to have a significant negative impact on the group's annual business plan, and operations across all business segments remain robust overall.
The board of directors emphasized that the medium to long-term development trend of the natural uranium industry remains fundamentally unchanged, and short-term performance fluctuations will not affect the group's medium to long-term strategic development plans.
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