HK Stock Market Move | JIAXIN INTL RES(03858) rose by more than 9% in the morning, the high-priced tungsten market has not fundamentally changed, and the company has turned a loss into a profit for the whole year.

JIAXIN INTL RES (03858) rose more than 9% in the morning and, as of press time, was up 7.71% at 114.6 Hong Kong dollars, with a trading volume of 454 million Hong Kong dollars. On the news front, in the past two weeks, the price of black tungsten concentrate fell 4.30% to 1.001 million yuan/ton, while the price of ammonium paratungstate fell 1.98% to 1.485 million yuan/ton. Industrial analysts pointed out that the high tungsten prices have not fundamentally changed, and the strategic value of tungsten resources continues to be highlighted. The bank noted that the rigid demand for high-end military and semiconductor needs make tungsten alloys, as core materials for armor-piercing shells and hypersonic missile heat-resistant components, an industry that could see growth if the conflict in the Middle East continues for a prolonged period. Public information shows that the core asset of JIAXIN INTL RES is the Bakuta tungsten mine in Kazakhstan. The company's annual report shows revenue of 1.063 billion Hong Kong dollars in 2025; the company's shareholders' share of the annual profit was 305 million Hong Kong dollars, turning losses into profits year-on-year. The group did not generate any income in the previous year. After commencing commercial production in April 2025, the group generated revenue of 1.063 billion Hong Kong dollars in the current year from the sale of tungsten concentrate.