中核国际二零二四年中期报告

Stock Code: 2302 CONTENTS Corporate Information2 Management Discussion & Analysis3 Condensed Consolidated Statement of Profit or Loss andOther Comprehensive Income14 Condensed Consolidated Statement of Financial Position15 Condensed Consolidated Statement of Changes in Equity17 Condensed Consolidated Statement of Cash Flows18 Notes to the Condensed Consolidated Interim FinancialStatements19 Other Information38 Corporate Information CNNC INTERNATIONAL LIMITED (the “Company” together with its subsidiaries is referred to as the“Group”)(Incorporated in the Cayman Islands with limited liability) BOARD OF DIRECTORS Chairman and Non-Executive DirectorWang Cheng Chief Executive Officer and Executive DirectorZhang Yi Non-Executive DirectorsSun Ruo FanWu Ge Independent Non-Executive DirectorsCui LiguoZhang LeiChan Yee Hoi AUDIT COMMITTEEChan Yee Hoi(Chairman)Wu GeCui LiguoZhang Lei REMUNERATION COMMITTEE Cui Liguo(Chairman)Zhang YiWu GeZhang LeiChan Yee Hoi NOMINATION COMMITTEE Wang Cheng(Chairman)Zhang YiCui LiguoZhang LeiChan Yee Hoi COMPANY SECRETARYLi Philip Sau Yan 2302 STOCK CODE2302 Management Discussion & Analysis RESULTS 851%6,400,000673,00068.62%600,00092%6,400,00076,144,000 For the Period, the Group has recorded an increase in gross profitofapproximately 851%to HK$6,400,000(2023 Period:approximatelyHK$673,000),corresponded to the facilitation oftradesof 0.6 million pounds of natural uranium products forRössinguranium mine(a uranium mine in Namibia which wasindirectly owned by China National Uranium Corporation, Limited(, formerly known as, anindirect holding company of the Company, “CNUC”) as to 68.62%andis operated by Rössing Uranium Limited,“Rössing UraniumMine”)through the Uranium Purchase Transactions(has themeaning ascribed to it in the circular of the Company dated 31stMay,2022(the“May 2022 Circular”)),which constituted acontinuing connected transaction for the Company). Meanwhile, theGrouphas recorded a significant decrease in revenue ofapproximately92%to approximately HK$6,400,000(2023 Period:approximately HK$76,144,000). The expected significant decrease inrevenue of the Group for the Period was primarily attributable to asubstantialdrop in trading volume within the Group’s uraniumtrading business. As spot uranium prices had experienced rapid andsignificantsurge and volatility during the Period,the Directorsconsideredthe associated transaction risks of conducting spoturanium trades amid such heightened price volatility and uncertaintyin the international spot uranium trading environment to be overlyburdensome to the Group in the short run. As a means of prudentrisk management, the Group had instead focused on executing thecontinuingconnected transactions under the Uranium PurchaseTransactionwith Rössing Uranium Mine which did not involveassumptionof pricing risks by the Group,and consequentlycontributing to the higher gross profit of the Group for the Period. 600,0006,400,00015,596,00021,161,00017,659,00010,301,0003,802,0002,803,00030,000,00013,379,0006,429,0007,731,0008,330,000 For the Period, the Group has completed facilitation of trades ofnatural uranium products of approximately 0.6 million pounds forRössingUranium Mine,which brought in commission income ofapproximatelyHK$6,400,000(2023 Period:commission income ofnil). There was also a decrease of share of result of an associate toapproximatelyHK$15,596,000(2023 Period:approximatelyHK$21,161,000);an increase in administrative expenses toapproximatelyHK$17,659,000(2023 Period:approximatelyHK$10,301,000), primarily attributable to an increase in staff costsof approximately HK$3,802,000 due to manpower expansion and anincrease in professional fees of approximately HK$2,803,000 mainlyrelated to the continuing connected transaction exercise conductedduring the Period; and an increase in finance cost to approximatelyHK$13,379,000 (2023 Period: approximately HK$6,429,000) due toadraw down of US$30,000,000 from a general banking facilityagreement for the purchase of the uranium products. As a result oftheforegoing,a net loss of approximately HK$7,731,000(2023Period: a net profit of approximately HK$8,330,000) was recordedfor the Period. MARKET AND BUSINESS OVERVIEW The spot uranium prices had experienced rapid and significant surgeandvolatility during the Period.The presence of associatedtransactionrisks of conducting spot uranium trades amid suchheightened price volatility and uncertainty in the international spoturanium trading environment could be overly burdensome to markettraders in the short run. The disinclination further exacerbated thereduction of offshore trading business opportunities for both buyersandsellers in the natural uranium market amidst geopoliticaltensions and persistence of supply uncertainties, influencing uraniumsupply dynamics. 82.5095.0083.505179 Duringthe Period,the spot price of natural uranium mostlyfluctuated between US$82.50/lb U3O8 and US$95.00/lb of U3O8,and settled at approximately