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Citic Securities: The construction of a new electrical utilities system promotes the sustainable development of the power grid. It is expected that the investment growth rate of the power grid in 2025 will maintain double-digit growth.
In 2025, electrical utilities construction will continue to focus on the long-term requirements of "dual carbon" transformation and the construction of new power systems, continuing the trend of balancing the main grid and the distribution side of electrical utilities.
China Logs 15% Rise in Installed Power Generation in January-October
Another main theme of AI investment emerges: US hedge funds heavily buy nuclear power stocks as technology giants gather to deploy this technology.
①In Q3, American hedge funds maintained a stable exposure to AI-related investment themes, but reduced their investment in the semiconductor industry for the first time since Q2 2022. ②In OpenAI's latest disclosed "American AI Infrastructure Blueprint," lies its grand nuclear power vision; Huang Renxun also expresses a bullish attitude towards nuclear energy. ③From the trends of tech giants, most of them have chosen small modular reactors (SMR).
[Brokerage Focus] CMB International: It is expected that the supply-demand gap for natural uranium will still be significant before 2028.
King Capital News | Zhongyin International stated that, due to the long-term nature of nuclear power and natural uranium mines, the development on the demand side and supply side has relatively certain plans. The bank determines that the natural uranium price needs to remain high enough to encourage more uranium mine development to meet the significant increase in global electrical utilities demand under factors such as (1) ai, (2) global decarbonization, (3) energy self-sufficiency, and (4) the increasing popularity of Small Modular Reactors (SMRs). CGN Mining (01164, buy) and Cameco (CCJ US, unrated) are expected to be the main beneficiaries. The bank mentioned that global nuclear power is returning to growth.
CMB Starts CGN Mining at Buy With HK$2.36 Price Target
Right For Malaysia's Energy Transition To Include Nuclear
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