CNNC International Limited (2302) Fair Value & Analysis
Energy · HK · Market cap HK$2.0B
Fair value as of: Aug 5, 2026
From 26 valuation models · updated 5 days ago
Share price +8.6% over the past month.
A solid business, screening 76% undervalued on our models.
What matters now
- The rarer combination: high quality (72/100) AND below fair value. That earns a closer look rather than a quick verdict.
- The price is below even our cautious bear case (HK$6.19). The market is more pessimistic than our downside scenario.
- A fairly wide model range (HK$6.19 to HK$14.27) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 5, 2026.
How to read this chart
60‑month range HK$0.8500 – HK$8.55 · fair‑value band HK$6.19 – HK$14.27 · the HK$4.44 price screens below the HK$7.81 fair value. Dashed = 300-day average. As of Aug 5, 2026.
Analysis
CNNC International Limited (2302) currently trades at HK$4.44, while our model-based Fair Value estimate is HK$7.81, implying the stock looks roughly 75.9% undervalued today. The Quality Score stands at 72/100 (solid quality), in the Energy sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, CNNC International Limited generated revenue of HK$2.5B at a net margin of 7.7%. Revenue grew 3.4% year over year. It earns a return on equity of 25.0%. The balance sheet holds a net cash position of HK$904M. Fundamentals as of Aug 5, 2026
Our scenario range runs from HK$6.19 (bear case) to HK$14.27 (bull case); at HK$4.44, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 50% below its 52-week high and 45% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -63% fair-value upside, at 76%, 2302 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings (HK$18.00) versus Dividend Discount (HK$0.1400). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 73 · Market factors (momentum, volatility) 16
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
CNNC International Limited, an investment holding company, engages in the exploration, sale, and trading of uranium in People's Republic of China, Hong Kong, the United States, The United Kingdom, Kazakhstan, Germany, Netherlands, and Canada.
Full company description
CNNC International Limited, an investment holding company, engages in the exploration, sale, and trading of uranium in People's Republic of China, Hong Kong, the United States, The United Kingdom, Kazakhstan, Germany, Netherlands, and Canada. The company operates through Trading of Mineral Properties, and Exploration and Selling of Mineral Properties segments. It is also involved in the provision of electricity transmission services. The company was formerly known as United Metals Holdings Limited and changed its name to CNNC International Limited in August 2008. CNNC International Limited was incorporated in 2002 and is headquartered in Wan Chai, Hong Kong. CNNC International Limited operates as a subsidiary of CNNC Overseas Limited.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
CNNC International Limited reported revenue of HK$2.5B in FY2025 versus HK$281M in FY2021, a compound +72.6%/yr. Reported net income was HK$192M in FY2025, compounding +319.4%/yr from FY2021.
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Peer Group
Uranium · 26 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Uranium median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Uranium stocks, each showing price versus our Fair Value estimate (as of Aug 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Cameco Corporation CCJ | $95.99 | $9.62 | -90% |
| China National Uranium Co 001280 | ¥56.66 | ¥11.54 | -80% |
| NexGen Energy Ltd NXE | $9.25 | $1.04 | -89% |
| Sprott Physical Uranium Trust Fund UU | $18.61 | $29.76 | +60% |
| Centrus Energy Corp LEU | $156.05 | $58.25 | -63% |
| CGN Mining Company 1164 | HK$2.42 | HK$1.01 | -58% |
| Deep Yellow Limited DYL | A$1.23 | A$0.3000 | -76% |
| IsoEnergy Ltd ISOU | $10.01 | $1.78 | -82% |
| Bannerman Energy Ltd BMN | A$3.51 | A$3.63 | +3% |
| Uranium Royalty Corp UROY | $2.76 | $1.62 | -41% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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