Gelonghui, Feb. 4 | Anxin International released a research report saying that in 2023, Xie Company, a joint venture owned by CGN Mining, produced 976.8 tons of natural uranium, and the other joint venture, Austria, produced a total of 1,643.6 tons of natural uranium. The annual plan completion rates were 100.2% and 95.6%, respectively. The company's production last year was in line with expectations. The bank expects that in 2024, if there is no problem with the supply of raw materials required for mining, the production capacity of the participating Kazakh mine is expected to reach 90% of the design capacity, and production capacity will be further released. The supply and demand relationship in the global natural uranium ore market is misaligned. Natural uranium producers are mainly located in Central Asia, Australia and Africa, while nuclear power installations are mainly concentrated in Asia, Europe and North America. After the Fukushima nuclear accident, global uranium exploration progress slowed, leading to an imbalance between supply and demand, and the gap is expected to continue to widen in the future. Therefore, the price of natural uranium ore will continue to rise in the future, driven by the imbalance between supply and demand, further boosting the company's profit growth. The bank is optimistic about the company's future performance growth trend and raised the target price to HK$2.25, giving it a “buy” rating.