JIAXIN INTL RES (03858) surged 5.66% intraday on Monday, extending its recent strong momentum in the trading session.

The stock's rise follows the company's reported earnings turnaround, with full-year profit reaching 305 million HKD after previous losses. All revenue is derived from scheelite (white tungsten) concentrate operations, with the company producing 5,008 tonnes and selling 4,879 tonnes since commencing commercial production in April 2025.

Market sentiment is further boosted by production growth projections, with output expected to increase to approximately 9,000 tonnes in 2026. The commissioning of the second-phase waste disposal project is projected to bring annual processing capacity to 4.95 million tonnes, with stable annual output exceeding 13,000 tonnes at full capacity. Additionally, the company's cost structure is expected to improve as capacity ramps up and operations optimize.

Industry analysis indicates that while short-term tungsten market conditions show periodic changes, the global supply-demand gap persists due to limited new mining capacity and tightening domestic supply, supporting the overall positive outlook for tungsten producers like JIAXIN INTL RES.