HK Stock Market Move | JIAXIN INTL RES(03858) rose more than 4% again, and its subsidiary won the bid for the Bukuta Tungsten Mine Stripping Project, with a contract amount of approximately 227 million Hong Kong dollars.

JIAXIN INTL RES (03858) rises again by over 4%, reaching a high of 57.9 Hong Kong dollars, setting a new record high. As of the time of writing, it is up 4.47% at 529.562 million Hong Kong dollars. In terms of news, JIAXIN INTL RES has announced that its subsidiary ZV has entered into a mining service procurement agreement with the CCECC Kazakhstan branch through public tender, for stripping and mining work in the open-pit mining phase of the Bakuuta tungsten mine project. The total contract price is 1.49 billion tenge (including tax) (equivalent to approximately 227 million Hong Kong dollars). FIRST SHANGHAI has released a research report stating that X-G-RESOURCES' core asset is the Bakuuta tungsten mine project, with a business model covering the entire chain of exploration, mining, processing, and sales of tungsten ore. The company's main product is tungsten concentrate. The bank believes that the company is at a critical point of value release, with world-class core assets, and its resource endowment lays the foundation for long-term growth. The company is a scarce target in the market for pure tungsten mines, and its current stock price has a high safety margin and attractiveness.