Zhitong Finance App News, CNNC International (02302) issued an announcement. It is anticipated that the Group's revenue for the six months ended June 30, 2026 (half-year 2026) will be drastically reduced by no more than HK$451 million from the revenue of about HK$592.1 million for the six months ended June 30, 2025 (half year of 2025), and gross profit for the half year 2026 will be reduced by no more than HK$12 million from the gross profit earned by about HK$19.7 million in the first half year of 2025, while the net profit attributable to shareholders for the first half year of 2026 will be no less than about about about approximately HK$492.1 million HK$5 million.
The Group's revenue declined sharply in the first half of 2026, mainly due to a sharp decrease in the volume of natural uranium business transactions with independent third parties compared to the first half of 2025. In view of the sharp and significant rise and fluctuation in spot uranium prices in the first quarter of 2026 and intensified as the political conflict in the Middle East continued until the second quarter of 2026, the Board of Directors believes that the trading risks involved in carrying out spot uranium exchanges under such drastic price fluctuations and uncertainty in the international spot uranium trading environment will be too burdensome for the Group in the short term. As part of prudent risk management, the Group has adjusted its strategy to focus instead on implementing ongoing connected transactions under uranium procurement transactions concluded with Rossing Uranium, and the Group does not bear pricing risk in connection with such transactions. As a result, the Group obtained a slight increase in gross margin in the semi-year 2026 compared to the half-year 2025. As spot uranium prices have stabilized, it is currently anticipated that the Group should be able to increase its natural uranium business volume through trade with independent third parties in the second half of 2026. Meanwhile, the delivery schedule for uranium supply transactions is expected to be mainly scheduled for the second half of 2026, similar to the 2025 delivery schedule.