On August 7, JIAXIN INTL RES rose 5.41% in regular trading, trading at HK$62.45 per share, with turnover of HK$119 million.

On the news front, leading tungsten enterprises raised their procurement prices for August first-half long-term contracts, signaling renewed upward momentum in domestic tungsten prices after stabilizing in July. Overseas tungsten premium rates have hit record highs. Supply-side constraints, combined with structural demand growth from AI computing infrastructure and high-end equipment sectors, are tightening the market. CICC forecasts the global tungsten supply-demand gap will reach 23,000 tons, supporting elevated price levels.

At the company level, JIAXIN INTL RES reported an expected first-half net profit attributable to equity holders of approximately HK$14.5 billion to HK$15.5 billion, a significant turnaround from a HK$6 million loss in the prior-year period. The company has also launched a share buyback plan of up to HK$200 million for the second half, having already repurchased 150,000 shares in July. UBS initiated coverage with a Buy rating and a target price of HK$88.7, projecting production growth to 11,700 tons by 2028 with gross margins reaching 77%.

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