HK Stock Market Move | JIAXIN INTL RES (03858) rose more than 7% in the morning, turning losses into profits for the whole year, earning over 300 million Hong Kong dollars. Geopolitical tensions may catalyze the growth in demand for tungsten military industries.

JIAXIN INTL RES (03858) rose more than 7% in the morning session, up 7.08% as of press time, at 113.4 Hong Kong dollars, with a turnover of 452 million Hong Kong dollars. On the news front, JIAXIN INTL RES released its annual performance, with a revenue of 1.063 billion Hong Kong dollars during the period; the company's shareholders' share of annual profit was 305 million Hong Kong dollars, turning losses into profits year-on-year. The announcement stated that the group did not generate any revenue in the previous year. After commencing commercial production in April 2025, the group generated a revenue of 1.063 billion Hong Kong dollars in the current year, from the sale of tungsten concentrates. Industrial pointed out that the rigid constraints on the supply side have not changed, with strong demand support still in place. The high-level operating pattern of tungsten prices has not fundamentally changed, and the strategic value of tungsten resources continues to be prominent. The bank pointed out that there is strong demand in the military and semiconductor sectors, and tungsten alloys, as the core materials for armor-piercing shells and high-temperature parts of hypersonic missiles, could see an increase in demand for tungsten in the military sector if the Middle East conflict persists for a longer period.