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Shares of the state-owned uranium producer surged dramatically on their inaugural trading day, marking a historic milestone as the first of its kind in China to go public. The company’s stock skyrocketed by 280%, closing at CNY67.99 (roughly USD9.62) per share, which catapulted its market value to approximately CNY140.6 billion (around USD19.9 billion). Despite the broader market declining by 0.8%, the stock enjoyed an unrestricted debut, as daily trading limits do not apply to new listings.
The company floated 248 million shares in total, with 122 million issued online. The shares were priced at CNY17.89 each, translating to a price-to-earnings ratio slightly above 27. The funds raised through the offering will support its domestic natural uranium operations, the utilization of radioactive mineral resources, and bolster liquidity.
Plans include increasing investments in China’s natural uranium industry, expediting the development of planned production capacities, and enhancing capabilities to meet national strategic needs. The company emphasizes its commitment to strengthening technological independence in uranium extraction and accelerating the growth of new production forces in the natural uranium sector.
As a key strategic mineral resource, natural uranium is essential for China’s nuclear energy expansion and overall energy security. The company specializes in mining, smelting, and trading natural uranium, along with the comprehensive use of radioactive mineral resources. It stands at the forefront of uranium development in China and plays a vital role in the country’s nuclear industry.
The firm holds 19 mining rights and six exploration licenses, establishing a domestic production network that primarily recovers uranium from sandstone deposits, supplemented by hard rock sources. Its operations spread across regions including Xinjiang, Inner Mongolia, and provinces like Guangdong and Hunan, emphasizing the integrated utilization of radioactive resources in uranium-rich areas.
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