HK Stock Market Move | JIAXIN INTL RES (03858) rose nearly 7% again. Started commercial production in April last year and expected to make a profit of up to 340 million Hong Kong dollars for the whole year.

JIAXIN INTL RES (03858) rose nearly 7%, by the time of writing, it rose 6.63% to 88.4 Hong Kong dollars, with a turnover of 87.27 million Hong Kong dollars. On the news front, JIAXIN INTL RES announced that the company expects the net profit attributable to equity holders in 2025 to be approximately 300 million Hong Kong dollars to 340 million Hong Kong dollars, turning a loss into a profit compared to the previous year. The announcement stated that the expected turnaround to profit was mainly due to the group not being operational in 2024, resulting in losses as no revenue was generated. The group began commercial production in April 2025 and generated income for the first time, starting to make a profit for the year. Huayuan Securities released a research report stating that in the past two weeks, the price of black tungsten concentrate has risen by 25.19% to 671,000 yuan/ton, and the price of ammonium paratungstate has risen by 24.68% to 985,000 yuan/ton. On the supply side, mine safety and environmental control are becoming stricter, with some mines showing a decrease in operation and shipments at the end of the year, leading to a significant tightening of tungsten ore supply. On the demand side, domestic demand remains stable, with essential purchases being the main focus and a prosperous demand for PCB cutting tools. Recently, mines have been cautiously producing, with weak market expectations for incremental supply, leading to further price increases for some enterprises in January.