HK Stock Market Move | JIAXIN INTL RES(03858) rose more than 5% as tungsten prices enter an upward channel. The company's Bakuuta tungsten mine has abundant resources.

JIAXIN INTL RES (03858) rose more than 5%, up 5.39% as of press time, at HK$34.82, with a turnover of HK$16.3983 million. On the news side, according to Zhongtung Online, in November 2025, the overall Chinese tungsten market showed a strong upward trend, with market resilience significantly stronger than expected. The core driving force comes from multiple positive resonances under tight supply and demand balance: strong reluctance to sell at high prices by sellers, continuous follow-up by large enterprises for long-term quotations, synchronous rise in international tungsten product prices, and the strategic value of tungsten resources highlighted under intensified global competition for key mineral resources. In November 2025, the average price of 65% black tungsten concentrate was 322,100 yuan/ton, up 15.79% from October 2025 and up 124.50% from November 2024. The average price of 65% white tungsten concentrate was 321,100 yuan/ton, up 15.85% month-on-month and up 125.37% year-on-year. China Securities Co., Ltd. recently pointed out that with export controls and quota reductions, tungsten prices have entered an upward trend. The stock prices of major listed companies in the tungsten industry have significantly outperformed the Shanghai and Shenzhen 300 index. JIAXIN INTL RES, listed on the Hong Kong Stock Exchange on August 28 of this year, has risen by 29% since its listing, and by 359% based on the offering price, with assets corresponding to the Bakuta tungsten mine in Kazakhstan. CMSC stated that the company's Bakuta tungsten mine has abundant resources and the project has already begun production. Benefiting from the rise in tungsten prices, the company's profits are expected to grow rapidly.