CNNC International Limited (2302) AI Stock Analysis

• Market Cap: HK$3.38B
• Dividend Yield: N/A
• Average Volume (3M): 2.98M
• Price to Earnings (P/E): 15.8
• Beta (1Y): 0.56
• Revenue Growth: 374.76%
• EPS Growth: 136.10%
• Country: HK
• Employees: 35
• Sector: Energy
• Sector Strength: 52
• Industry: Technology Distributors
• EPS (TTM): 0.02
• Shares Outstanding: 489,168,330
• 10 Day Avg. Volume: 1,385,110
• 30 Day Avg. Volume: 2,984,081
• PEG Ratio: 0.05
• Price to Book (P/B): 1.22
• Price to Sales (P/S): 0.45
• P/FCF Ratio: 5.90
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: HK$7.50 ▲(45.63% Upside)

The score is driven primarily by strong financial performance (improving profitability, stable balance sheet, and solid recent free cash flow) and supportive technical momentum (price above key moving averages with a positive MACD). Valuation is reasonable but not a clear bargain, and the lack of dividend yield data reduces valuation support.

Positive Factors

Strong revenue growth

Pronounced revenue expansion indicates growing market penetration and product demand, enabling reinvestment and scale. Sustained top-line growth improves capacity to fund capex, R&D and long-term contracts, strengthening medium-term cash-generation potential and strategic flexibility.

Improved margins and profitability

Rising gross, EBIT and net margins reflect better cost management and operational efficiency, implying improved pricing power or lower unit costs. Higher margin durability supports free cash flow generation, enhances return on equity, and provides buffer versus cyclical revenue swings.

Strategic position in nuclear fuel cycle and contracts

Participation in the nuclear fuel cycle and secured long-term supply agreements create structural revenue visibility and reduce reliance on spot markets. International partnerships and services broaden market access and support steady demand from the global shift toward low-carbon baseload generation.

Negative Factors

Historical revenue and free-cash-flow volatility

Material past volatility in revenue and free cash flow weakens predictability for investment and debt servicing. This forces higher liquidity buffers, complicates multi-year planning and increases refinancing and execution risk during downturns or adverse commodity cycles.

Small employee base and scale constraints

A very small workforce limits internal capacity to execute large mining or international expansion projects and increases reliance on external partners or key individuals. Scaling operations or responding quickly to opportunities may require time-intensive hiring or outsourcing, raising execution risk.

Exposure to uranium commodity cycle

Core dependence on uranium production ties revenues and margins to commodity price cycles and demand from nuclear utilities. Price volatility and long project lead times can materially affect earnings, capex timing and cash flows, amplifying medium-term financial unpredictability.

CNNC International Limited Business Overview & Revenue Model

Company Description

CNNC International Limited, an investment holding company, explores for and trades in mineral properties in Mongolia and the People's Republic of China. It operates through Trading of Mineral Property, Exploration and Selling of Mineral Properties, and Supply Chain segments. The company holds interests in uranium projects located in Mongolia. It also sells electronics and other products, including liquid crystal displays, flash drives, memory cards, metal raw materials, etc.; and offers supply chain services. The company was formerly known as United Metals Holdings Limited and changed its name to CNNC International Limited in August 2008. The company was incorporated in 2002 and is headquartered in Hong Kong, Hong Kong. CNNC International Limited is a subsidiary of CNNC Overseas Uranium Holding Limited.

How the Company Makes Money

CNNC International Limited generates revenue through multiple streams primarily centered around the production and sale of uranium and other nuclear-related products. The company earns money by extracting uranium from its mining operations and selling it to nuclear power plants and energy companies. Additionally, CNNC International has established partnerships with various international entities, enhancing its market reach and operational capacity. The revenue model is further supported by contracts for long-term supply agreements and participation in the global nuclear fuel cycle, which includes the provision of nuclear technology services and consultancy. Market demand for clean energy solutions, driven by the global shift towards low-carbon energy sources, also significantly contributes to the company's earnings.

CNNC International Limited Financial Statement Overview

Summary

Strong overall fundamentals with improving profitability and cash generation. Income statement strength (revenue growth, better gross/EBIT/net margins) is tempered by historical revenue volatility. Balance sheet is stable with improving debt-to-equity and solid equity ratio, though past debt fluctuations add some risk. Cash flow shows strong recent free cash flow growth and good cash conversion, but prior free cash flow volatility reduces the score slightly.

Income Statement

CNNC International Limited demonstrates strong revenue growth and improving profitability. The gross profit margin has improved significantly from 2023 to 2024, indicating better cost management and operational efficiency. Net profit margin and EBIT margin also show positive trends, reflecting increased profitability. However, revenue fluctuations in past years highlight potential market volatility.

Balance Sheet

The company's balance sheet reflects a solid equity position with an improving debt-to-equity ratio over the years, aided by reduced total debt levels. The equity ratio indicates strong financial stability, and return on equity has shown a positive trend, suggesting efficient use of equity capital. However, historical fluctuations in debt levels suggest potential risks if not managed carefully.

Cash Flow

Cash flow metrics are robust, with a strong free cash flow growth rate from 2023 to 2024. The operating cash flow to net income ratio indicates efficient cash generation relative to earnings. However, free cash flow has been volatile in previous years, indicating potential risks in cash flow stability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.43B	1.84B	580.96M	905.73M	280.64M	662.99M
Gross Profit	246.46M	234.16M	127.05M	102.79M	20.61M	13.01M
EBITDA	227.53M	218.11M	137.43M	71.78M	-6.08M	13.23M
Net Income	213.09M	195.00M	106.31M	80.84M	622.00K	-46.10M
Balance Sheet
Total Assets	1.53B	880.06M	990.86M	646.93M	592.67M	617.85M
Cash, Cash Equivalents and Short-Term Investments	787.58M	607.03M	180.43M	130.73M	120.63M	144.33M
Total Debt	2.46M	3.27M	186.63M	218.00M	230.00M	282.35M
Total Liabilities	840.53M	206.17M	530.58M	255.32M	258.02M	308.79M
Stockholders Equity	685.64M	673.88M	460.29M	391.61M	334.65M	309.07M
Cash Flow
Free Cash Flow	519.38M	139.32M	73.72M	7.25M	30.67M	277.68M
Operating Cash Flow	519.59M	139.95M	73.37M	7.47M	30.95M	277.95M
Investing Cash Flow	301.18M	300.76M	26.00M	25.23M	7.08M	39.28M
Financing Cash Flow	-170.44M	-13.12M	-48.33M	-17.71M	-61.88M	-275.61M

CNNC International Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2302, the sentiment is Positive. The current price of 5.15 is below the 20-day moving average (MA) of 6.60, below the 50-day MA of 5.62, and above the 200-day MA of 4.34, indicating a bullish trend. The MACD of 0.51 indicates Negative momentum. The RSI at 56.72 is Neutral, neither overbought nor oversold. The STOCH value of 66.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2302.

CNNC International Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1184	76 Outperform	HK$2.87B	6.60	14.95%	8.89%	-0.06%	-6.11%
2302	74 Outperform	HK$3.38B	15.84	39.81%	―	374.76%	136.10%
2166	66 Neutral	HK$1.38B	11.69	11.96%	6.74%	-5.58%	22.50%
3991	65 Neutral	HK$2.98B	7.53	13.40%	4.42%	6.01%	9.76%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
0400	60 Neutral	HK$6.42B	25.87	5.41%	―	33.59%	-15.98%
0186	41 Neutral	HK$867.77M	-22.25	-12.13%	―	-85.44%	-172.45%

CNNC International Limited Corporate Events

CNNC International Renews Connected Uranium Supply and Distribution Framework with CNUC

CNNC International has agreed with the CNUC Group on a new 2026 Framework Agreement running until the end of 2027 to govern a series of continuing connected transactions involving uranium supply, agency procurement and distribution. Under the renewed framework, CNNC International will act as the CNUC Group’s exclusive supplier of natural uranium sourced from sellers outside Asia and Africa, may serve as procurement agent for sporadic additional uranium needs at a 2% premium over purchase cost, and will be appointed as exclusive authorised distributor of Rössing Uranium Mine products to global markets excluding the PRC, earning a 2% commission on resale amounts; because these are connected-party transactions with material size under Hong Kong Listing Rules, they require reporting, announcement, independent shareholders’ approval and ongoing annual review, underscoring both the strategic importance and regulatory sensitivity of these uranium-trading arrangements for the company and its stakeholders.

The most recent analyst rating on (HK:2302) stock is a Buy with a HK$6.00 price target. To see the full list of analyst forecasts on CNNC International Limited stock, see the HK:2302 Stock Forecast page.

CNNC International’s Parent Company Lists on Shenzhen Stock Exchange

CNNC International Limited announced that its indirect holding parent company, China National Uranium Co., Ltd (CNUC), has been officially listed on the Shenzhen Stock Exchange. This strategic move is expected to enhance CNNC’s capital market influence, improve brand recognition, and support resource integration and strategic expansion, thereby benefiting CNNC’s operations and future development.

The most recent analyst rating on (HK:2302) stock is a Buy with a HK$6.00 price target. To see the full list of analyst forecasts on CNNC International Limited stock, see the HK:2302 Stock Forecast page.

CNNC International Limited Announces Board of Directors and Roles

CNNC International Limited has announced the composition of its Board of Directors and their respective roles, highlighting the leadership structure within the company. This announcement underscores the company’s commitment to maintaining a robust governance framework, which is crucial for its strategic operations and stakeholder confidence.

The most recent analyst rating on (HK:2302) stock is a Buy with a HK$6.00 price target. To see the full list of analyst forecasts on CNNC International Limited stock, see the HK:2302 Stock Forecast page.

CNNC International Announces Leadership Change with New Chairman Appointment

CNNC International Limited announced the resignation of Mr. Wang Cheng as Chairman and Non-Executive Director due to reaching the statutory retirement age, effective December 1, 2025. Mr. Li Feng, with a background in nuclear engineering and extensive experience in uranium mining, has been appointed as the new Chairman and Non-Executive Director. This leadership change is expected to bring new strategic direction to the company, leveraging Mr. Li’s expertise in enhancing production capacity and advancing global technical cooperation.

The most recent analyst rating on (HK:2302) stock is a Buy with a HK$6.00 price target. To see the full list of analyst forecasts on CNNC International Limited stock, see the HK:2302 Stock Forecast page.