CGN Mining (01164) dropped more than 7% after the report. As of press release, it was down 4.85% to HK$1.57, with a turnover of HK$386.25,800.
The Zhitong Finance App learned that CGN Mining (01164) dropped more than 7% after the results. As of press release, it had a decrease of 4.85% to HK$1.57, with a turnover of HK$386.25,800.
According to the news, CGN Mining announced annual results. The group achieved a turnover of HK$7.363 billion, an increase of 101.8% over the previous year; profit attributable to the owners of the company was HK$497 million, a decrease of 3.46% over the previous year; and earnings per share were HK$6.54 cents, without final interest. According to the announcement, the main reason for the increase in turnover is that CGN International Sales Co., Ltd. grasped the active opportunity of the natural uranium market and increased sales volume throughout the year.
Furthermore, due to the narrowing of underwriting trade spreads and international trade spreads, the Group achieved a gross profit of HK$129 million in natural uranium trading in 2023, a decrease of 11% compared to HK$145 million in 2022, and the gross margin of natural uranium trade to 1.75%.