JIAXIN INTL RES (03858) rose more than 10% again. As of writing, the stock was up 7.95% to HK$85.55, with a turnover of HK$272 million. According to media reports, since the outbreak of conflict in the Middle East in late February, U.S. stockpiles of advanced weapons and ammunition have been rapidly depleting. The Center for Strategic and International Studies (CSIS) warned last month that the current high-intensity military consumption could lead to replenishment cycles for some critical U.S. munitions stockpiles taking several years, implying that demand for key raw materials like tungsten will remain elevated for the long term. Public information shows that all of JIAXIN INTL RES's revenue is derived from scheelite concentrate produced at the Bakuta project. After commencing commercial production and sales in April 2025, the company produced 5,008 tonnes of scheelite concentrate for the full year and sold 4,879 tonnes. Additionally, JIAXIN INTL RES recently entered into a non-binding memorandum with PMF to explore mineral resource development opportunities in Kazakhstan.