On July 8, Jiaxin International Resources fell 5.12% in regular trading, trading at 48.6 HKD/share, with turnover of 113 million HKD. The stock has extended its decline since late June, retreating sharply from its 52-week high of 176.20 HKD.

On the news front, institutions noted that continued tungsten spot market loosening is suppressing short-term price elasticity. Additionally, South Korea's Sangdong tungsten mine has officially resumed production, bringing incremental supply expectations that further pressure near-term tungsten pricing. The Sangdong mine, operated by Almonty Industries, restarted in March after 32 years of dormancy, with Phase 1 annual capacity of 2,300 tonnes of tungsten concentrate, of which 2,100 tonnes are committed under 15-year contracts to the U.S. market.

Jiaxin International Resources' core asset is the Bakuta tungsten mine in Kazakhstan, the world's largest open-pit tungsten trioxide resource by mineral reserves. The company's current dynamic price-to-earnings ratio stands at approximately 76x. While institutions maintain that the long-term upward logic for tungsten prices remains intact given supply-demand tightness, short-term spot market digestion and new supply additions continue to create headwinds.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)