HK Stock Market Move | JIAXIN INTL RES (03858) rises more than 9% against the market trend, with supply contraction supporting the continuous increase in tungsten prices. The company is a rare pure tungsten mine target.

JIAXIN INTL RES(03858) surged more than 9% against the market trend. As of the time of writing, it rose by 6.57% to HK$79.5, with a turnover of HK$115 million. On the news front, on February 4th, the average price of comprehensive tungsten powder in the Yangtze River was reported at 1,545,000 yuan/ton, a significant increase of 25,000 yuan compared to the previous trading day, hitting a recent price high. Jianghai Securities released a research report stating that due to multiple factors such as tightening resource endowment, prolonged development cycle, and insufficient capital investment, the rigid constraints on tungsten's supply side are continuously strengthening, laying a solid foundation for the upward movement of the central price in the medium to long term. Public information shows that JIAXIN INTL RES is a tungsten mining development company headquartered in Kazakhstan, with its core asset being the Bakuta Tungsten Mine Project. FIRST SHANGHAI believes that the company is at a critical inflection point of value release, and with world-class core assets, its resource endowment sets the foundation for long-term growth. The company is a scarce target of pure tungsten mines in the market, and its current stock price has a very high safety margin and attractiveness.