HK Stock Market Move | JIAXIN INTL RES(03858) rose more than 7% again, accumulated more than 80% increase within the month. Tungsten powder prices hit a historic high.

JIAXIN INTL RES (03858) rose by over 7%, with a cumulative increase of over 80% within the month. As of the time of writing, it has risen by 6.58% to HK$85.05, with a turnover of HK$71.99 million. On the news front, on January 19, the average price of comprehensive tungsten powder in the Yangtze River reached 120,000 yuan/ton, a single-day increase of 1,500 yuan/ton, hitting a record high. Jianghai Securities stated that there was a "buying frenzy" in the spot market, with some downstream enterprises needing to increase prices by 20% to lock in sources, indicating an extremely tight supply-demand situation. The market is showing a "step-by-step increase" pattern, reflecting strong expectations of long-term shortages. Sinolink believes that with the background of increasing strategic reserves overseas, tungsten's priority may be higher. Public information shows that JIAXIN INTL RES is a tungsten mining development company headquartered in Kazakhstan, with its core asset being the Bakuta tungsten mining project. FIRST SHANGHAI believes that the company is at a crucial point of value release and holds world-class core assets, laying the foundation for long-term growth. The company is a scarce target in the market for pure tungsten mines, with its current stock price having a high safety margin and attractiveness.