CGN MINING (HK: 01164) surged more than 6% in the afternoon session, last up 5.21% at HK$2.12 with turnover reaching HK$170 million.

On the news front, Sweden's largest power utility, Vattenfall, recently announced it had selected the UK's Rolls-Royce to build three small modular reactors on Sweden's west coast. The project boasts a total installed capacity of approximately 1,410 megawatts and an annual power output of around 12 billion kilowatt-hours, representing roughly 8% of Sweden's yearly electricity consumption. The first unit is slated to begin operations around 2035. This marks Sweden's first new nuclear construction project in over four decades, signaling the official restart of nuclear power development in the country.

In a research note, Guotai Junan Securities pointed out that natural uranium prices are on a sustained upward trajectory, driven by accelerated nuclear construction and tight upstream mineral supply. As a natural uranium producer and trader backed by a major nuclear power enterprise, CGN MINING is well-positioned to fully capitalize on rising uranium prices. With adjustments to its long-term contract benchmark prices for 2026, the company's full-year earnings growth prospects look promising.