Shares of CGN Mining (01164) climbed nearly 9% during Tuesday afternoon trading, with the stock last up 7.20% at HK$2.605, recording turnover of HK$102 million. The rally comes as August data showed long-term natural uranium contract prices reaching $96.5 per pound, continuing their historic ascent to fresh all-time highs.

Industry data indicates that China's State Council approved eight new nuclear reactor units in a single batch during July. As of September 2026, statistics show 35 reactors currently under construction with a combined capacity of 42 GW, while 24 additional units have been approved with 29 GW of planned capacity. These under-construction reactors are scheduled to come online progressively between 2026 and 2031, with nuclear power generation expected to accelerate notably starting in 2026.

Analysts at Guotai Junan Securities noted in a research report that natural uranium prices continue their upward trajectory, driven by accelerated nuclear power construction and tight upstream mineral supply conditions. As a natural uranium production and trading company backed by nuclear power enterprises, CGN Mining is well-positioned to fully benefit from rising uranium prices. With the company's 2026 long-term contract benchmark price adjustment, full-year earnings growth prospects appear promising.