Analysis Report on the Hot Reception of N中国铀 (001280.SZ) Listing

The core reason N中国铀 (001280.SZ) became a hot stock is its

, filling the gap in public listing for the domestic uranium mining industry [1]. Meanwhile, long-term growth expectations for the uranium mining industry have further amplified market attention: the global uranium market value is expected to grow from $9.3 billion in 2024 to $13.6 billion in 2032, with a compound annual growth rate (CAGR) of 4.9% [2]; China plans to increase its nuclear power capacity from 57 GW to 150 GW by 2030 and to 300 GW by 2060, which will significantly boost uranium demand [2]. Additionally, positive institutional evaluations have played a catalytic role. Morgan Stanley mentioned in a report that China Uranium Industry is expected to achieve net profit of RMB 1.6-1.65 billion in 2025, which will attract investors’ attention to the uranium mining sector [1].

On its first day of listing, the price surged 285.35% from the IPO price of $17.89 to $68.91 [0], with an intraday high of $80.00 and low of $58.88 [0]. The daily trading volume reached 92.58 million shares [0], far exceeding the average trading volume of newly listed stocks, indicating extremely high market participation. The intraday price amplitude exceeded 25%, showing the typical speculative characteristics of newly listed stocks.

1. Scarcity Valuation
   : As the only listed uranium mining enterprise in China, N中国铀 has obtained a significant scarcity premium, with its first-day gain far exceeding the industry average.
2. Sector Linkage Effect
   : Morgan Stanley pointed out that the listing of N中国铀 will boost market confidence in the entire uranium mining sector, and CGN Mining (01164.HK) listed in Hong Kong will also benefit indirectly [1].
3. Game Between Short-Term Speculation and Long-Term Value
   : The 285% first-day gain is partly driven by short-term speculative funds, but the long-term growth prospects of the industry provide potential value support for it.

• IPO Volatility
  : The sharp rise of newly listed stocks on the first day usually lacks fundamental support, and there may be correction pressure in the follow-up.
• Valuation Risk
  : The current price-to-earnings ratio is significantly higher than the industry average, indicating the risk of overvaluation.
• Industry Risk
  : Uranium prices are affected by geopolitics, changes in nuclear policies, and supply-demand relationships, with high volatility [2].
• Insufficient Information
  : As a newly listed company, it lacks long-term operating data and market performance history, making it difficult to accurately assess its long-term value.

• Industry Growth Dividend
  : The rapid growth of China’s nuclear power installed capacity will drive sustained growth in uranium demand [2].
• Policy Support
  : As an important part of clean energy, nuclear energy is expected to receive continuous policy support.
• Market Demonstration Effect
  : As the listed leader in the domestic uranium mining industry, N中国铀 may lead industry integration and optimal resource allocation.

As the first uranium mining listed company in mainland China, the IPO event of N中国铀 (001280.SZ) has attracted widespread market attention and enthusiasm. The sharp rise in its first-day stock price reflects investors’ optimism about the long-term growth prospects of the uranium mining industry, but at the same time, there are obvious short-term speculative characteristics and valuation risks. While focusing on its long-term value, investors need to pay close attention to factors such as IPO volatility, changes in industry policies, and valuation levels.

This report provides objective facts based on public information and industry analysis and does not constitute any investment advice. Investors should make decisions carefully based on their own risk tolerance and investment objectives.