HK Stock Market Move | JIAXIN INTL RES (03858) rises over 5% as Zimbabwe's "mining ban order" escalates, with ongoing tightening of restrictions on tungsten mining.

JIAXIN INTL RES (03858) has risen over 5%, currently up 5.74% at HKD 58.05, with a trading volume of HKD 78.9262 million. In the news, Zimbabwe has immediately banned the export of antimony and tungsten, which is part of the government's initiative to promote more local mineral refining and processing by mining companies. Sinolink believes that on the supply side, the elasticity of tungsten ore supply is limited, and constraints at mining sites continue to strengthen. On the demand side, there is steady growth in downstream demands for hard alloys and tungsten materials. Coupled with the strategic resource attributes of tungsten being increasingly emphasized under export control, tungsten prices are expected to rise further. In the first half of this year, JIAXIN INTL RES achieved revenue of HKD 2.703 billion, an increase of 2039.9% year-on-year; net profit attributable to the parent company was HKD 1.538 billion, turning a profit compared to the previous loss; an interim dividend of HKD 1.87 per share was declared. During this period, the group achieved a production output of over 4,000 tons of white tungsten concentrate, benefiting from the increase in tungsten concentrate prices, resulting in significant growth in the companys performance.