CGN Mining Company Limited Holds 2025 Annual Results Presentation

On March 27, CGN Mining Company Limited (hereinafter referred to as "CGN Mining" or "the Company") held its 2025 Annual Results Presentation in Hong Kong. The event was simultaneously accessible via the Tencent Meeting online platform and was live-streamed through the Futu Securities platform.

Wang Xianfeng, Chairman of the Board of the Company; Li Jie, Executive Director and Chief Financial Officer; and She Dong, Joint Company Secretary and General Legal Counsel, attended the presentation. A total of more than 50 analysts and investors from institutions including Morgan Stanley and CICC participated in the event on-site, while over 30,000 viewers watched the live-stream online.

The presentation provided a detailed overview of CGN Mining's overall operating performance in 2025, covering company performance, industry dynamics, and business outlook. The company's management also responded to questions of market interest from investors and analysts.

Looking back at 2025, the global energy landscape was being reshaped amid transformation. Despite macroeconomic challenges including growth divergence and exchange rate fluctuations in a high-interest-rate environment, the global consensus on "green, low-carbon, and safe" continued to strengthen. The strategic value of nuclear power as a baseload energy source was redefined, and the natural uranium industry formally transitioned from a "recovery phase" into a new stage characterized by "value reassessment and supply-demand rebalancing." Spot price volatility moderated, while long-term prices remained resilient, reflecting the strong emphasis placed by downstream power companies on supply security and price stability. Facing a complex external environment and pressures from market volatility, the company achieved a steady rebound in operational quality through active operational coordination and optimization of trading strategies:

First, its mines operated stably and successfully met the annual production targets, with total annual output reaching 2,689 tU. Phase 1, Stage 1 of the Zhalanbulak Uranium Mine was completed, and supporting works for Phase 1, Stage 2 were being accelerated across the board. Cold commissioning of equipment in the processing plant was completed and passed the four-party joint inspection and acceptance.

Second, the pricing mechanism for a new three-year connected transaction was approved. The new mechanism significantly raises the level of price linkage with the market, increasing the weighting of spot price index from 60% to 70%, while also substantially raising the contract base price. This mechanism will effectively enhance the company's earnings resilience during price upswings, while also improving the stability and predictability of its medium- to long-term performance.

Third, gross profit from international trading reached a new high. In 2025, the international sales company effectively managed risks through proactive trading strategies, achieving a gross profit of HKD 358 million from sales in the second half of the year, and delivering stable profitability for the full year.

Looking ahead, the Company will continue to focus on its overseas natural uranium business, align with the requirements of high-quality development, and continuously enhance its core competitiveness to strengthen its advantageous position in the global natural uranium market. It will continue to strengthen operational management and cost control to ensure the stable operation of producing projects; steadily advance the construction of key projects, strictly adhering to milestone targets and quality standards to facilitate timely production capacity ramp-up; and enhance collaboration with partners to improve overall operational efficiency. The Company will actively track high-quality uranium resource opportunities globally, make prudent use of capital market instruments, and improve its project pipeline and resource tiering. In light of industry cycles and changes in the geopolitical environment, it will pursue the integration of quality assets at opportune moments. It will also continuously improve its information disclosure and investor communication mechanisms to enhance transparency and market understanding; deepen the development of its ESG management system to promote sustainable development; and strengthen its forward-looking research and risk management capabilities to enhance the Company's resilience in the face of uncertainty.

About the Company

CGN Mining Company Limited (01164.HK) is a listed subsidiary of China General Nuclear Power Group (CGN) and serves as the investment and financing platform for the Group's overseas natural uranium resource development. As a uranium mining group listed on the Main Board of the Hong Kong Stock Exchange, its principal business activities are the development and trading of natural uranium resources for use by nuclear energy enterprises.