Changes in Hong Kong stocks | CGN Mining (01164) fell nearly 7% in the afternoon, Musk's new policy on nuclear fusion power generation in Kazakhstan may affect valuations

The Zhitong Finance App learned that CGN Mining (01164) fell nearly 7% in the afternoon. As of press release, it was down 6.51% to HK$2.87, with a turnover of HK$122 million.

According to the news, on December 15, Musk publicly sang about nuclear fusion power generation on social platforms. He wrote, “Building a small nuclear fusion reactor on Earth is absolutely foolish.” Musk pointed out that the Sun itself is already a huge, free nuclear fusion reactor in the sky. In the latest space AI concept, Musk plans to deploy 100GW of solar-powered AI satellites every year, on a scale equivalent to one-quarter of the nation's electricity.

Furthermore, Kazakhstan recently proposed a new policy requiring Kazakh workers to hold 90% of the shares in the joint venture when renewing the contract with the joint venture. CMB International released a research report saying that the new policy will have little impact on CGN mining's ownership of reserves. However, it may cause uncertainty about the target multiple for this line. The target valuation will remain unchanged for the time being, but we will continue to monitor the progress of policy changes.