China National Uranium Co., Ltd. (CNUC), dubbed the "granary" of nuclear power, made its debut on the Shenzhen Stock Exchange’s main board today, marking a historic milestone as China’s first listed natural uranium enterprise.
CNUC specializes in natural uranium mining, smelting, sales, and trade, alongside comprehensive utilization of radioactive co-associated minerals. The company holds 19 mining rights and 6 exploration rights in uranium-rich regions such as Xinjiang and Inner Mongolia. The listing will further accelerate CNUC’s domestic investment in natural uranium production, rapidly expanding both capacity and economic scale.
The company’s flagship "National Uranium No.1" demonstration project is China’s largest natural uranium production initiative. Utilizing innovative extraction technologies, it has unlocked hundreds of thousands of tons of domestic uranium resources, enabling efficient exploitation of low-grade, complex deposits and multiplying China’s natural uranium output.
Globally, CNUC ranks among the top ten natural uranium producers and is a key player in the international market. Its majority-owned Rössing Uranium Mine in Namibia is the world’s sixth-largest uranium mine and the second-largest open-pit operation, solidifying its strategic resource significance.
Technologically, CNUC has pioneered solutions for multi-layer ore extraction, leaching of "three-high" (high-calcium, high-iron-aluminum, high-mineralization) uranium ores, and scattered ore recovery. Its CO₂+O₂ third-generation in-situ leaching system sets the benchmark for complex sandstone uranium development.
In hard-rock uranium mining, the company has achieved mechanized, automated, and intelligent underground operations, with mature applications of ore crushing, heap leaching, and ion exchange technologies. Its overall uranium extraction capabilities lead the industry.
Embracing digital transformation, CNUC has established remote centralized control systems for production and safety, transitioning from on-site to "urban mining" through smart, data-driven operations.
Beyond uranium, CNUC excels in recycling radioactive co-associated minerals. Its monazite-based comprehensive utilization project in Hengyang, Hunan, recovers strategic resources while achieving energy recovery, waste reduction, and eco-friendly processing—a first in the sector.
Financially, CNUC has benefited from accelerated nuclear power expansion and long-term supply-demand gaps. Revenue grew from RMB 10.535 billion in 2022 to RMB 17.279 billion in 2024, with a 28.07% CAGR. For the first three quarters of 2025, revenue and net profit rose 23.17% and 26.03% YoY, respectively.
The IPO raised RMB 4.11 billion, earmarked for four natural uranium projects and three co-associated mineral initiatives, aligning with national strategic goals.
At market close, CNUC’s shares surged 291.17% to RMB 69.98, pushing its market cap above RMB 140 billion, with an intraday high of RMB 80.
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