CNNC International shares soared about 130% in afternoon in Hong Kong.
CNNC INT’L is a member of China National Nuclear Corporation ("CNNC"). As a state-owned corporation, CNNC is the only PRC enterprise covering a full range of nuclear-technology industries. CNNC is a major investor of certain domestic nuclear power stations, as well as a primary participant in the design, construction and operation of nuclear power facilities, nuclear geological and mining metallurgical works, and the supply of nuclear fuel, nuclear technology applications and equipment in China. The immediate holding company of CNNCIntl is CNNC Overseas Uranium Holding Limited (“CNNC Overseas”) which is a wholly owned subsidiary of China Uranium Corporation Limited (“CUC”). CUC is an important member of CNNC, responsible for the overseas uranium resources development. As a form of clean energy, nuclear power has become the subject of focused development for the PRC Government. On the back of CNNC’s leadership and solid experience in the uranium leveraging business, CNNCIntl Group is actively expanding its overseas uranium leveraging business, engaging in uranium product trading and identifying related opportunities to answer the demand for uranium resources created by the development of nuclear power in nuclear power generation.
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