Changes in Hong Kong stocks | Jiaxin International Resources (03858) rose more than 6% in early trading due to geographical risks, flexible tungsten prices, and the possibility of another increase in tungsten prices

The Zhitong Finance App learned that Jiaxin International Resources (03858) rose more than 6% in early trading. As of press release, it had risen 6.24% to HK$58.75, with a turnover of HK$134 million.

According to the news, Jiaxin International Resources previously announced Yingxi. It is estimated that the net profit due to equity holders in the first half of 2026 is about HK$1.45 billion to HK$1.55 billion, which is a sharp reversal of losses over the previous year, mainly due to the fact that commercial production was just started in the same period last year, and production took less than 2 months; the average selling price of tungsten concentrate rose sharply during the current period. The company recently announced that it plans to use up to HK$200 million for share repurchase plans in the second half of the year.

Minmetals Securities pointed out that rising geopolitical risks have led to flexibility in tungsten prices. The core characteristics of the tungsten market in the short term are recovery in domestic demand, shortage of external supply, and prudence in downstream procurement. The balance between domestic supply and demand continues to be weak, but if the geographical situation worsens further and global demand for military and strategic reserves is linked, the tungsten price center may face another increase.