On July 9, Jiaxin International Resources fell 5.25% in regular trading, trading at HK$46.28/share, with turnover of HK$35.25 million. The stock extended its downtrend since late June, retreating sharply from its 52-week high of HK$176.20.

On the news front, tungsten spot prices continued to soften while Korea's Sangdong tungsten mine officially resumed production, with Phase 1 annual capacity of 2,300 tons of tungsten concentrate and Phase 2 planned expansion to 4,600 tons. The incremental supply expectation further suppressed near-term tungsten price elasticity. On July 6, the Ganzhou Tungsten Association lowered its July market forecast price, with 55% black tungsten concentrate down 11.29% month-over-month and APT down 13.16%, marking the fourth consecutive monthly decline since peak levels in April.

The company's core asset is the Bakyuta tungsten mine in Kazakhstan. Its current dynamic P/E ratio stands at approximately 73x, with growing market divergence on near-term tungsten price trajectory. Institutional research suggests the long-term upward logic for tungsten remains intact, but short-term spot inventory pressure requires further digestion.

(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.)