On September 2, CGN MINING fell 5.35% in regular trading, trading at HKD 2.385/share, with turnover of approximately HKD 40.43 million, extending its recent downtrend.

The decline follows the company's interim results released on August 27, which showed H1 revenue of approximately HKD 2.025 billion, up 19% year-over-year, but losses attributable to owners widened 18% to approximately HKD 80 million. The loss expansion was primarily driven by lower natural uranium sales volumes and higher unit selling costs at its joint venture and associate companies in Kazakhstan, leading to reduced investment income for the group. Additionally, the weighted average cost of inventories exceeded selling prices under executed contracts, further weighing on gross margins. Sales costs for the period rose 10% year-over-year to HKD 2.144 billion amid expanded uranium trading scale.

Post-earnings selling pressure has continued to build over multiple sessions, with the stock declining nearly 10% on August 28 and a further 5.75% on August 31. Weakening spot uranium prices have compounded the bearish sentiment. Notably, the company had earlier flagged that some annual off-take contract deliveries would be deferred to H2, though it expects no material adverse impact on the full-year business plan.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)