Shares of Jiaxin International Resources (03858) climbed more than 6% before the midday break, last trading up 5.32% at HK$68.3 with turnover reaching HK$85.08 million.

On the news front, according to a temporary final rule issued by the U.S. Department of Commerce's Bureau of Industry and Security, effective August 27, the U.S. will impose a one-year export control on tungsten scrap and lithium battery recycling black mass, requiring that 100% of these materials be offered for sale to domestic U.S. buyers first. China Minmetals Resources noted that starting in 2026, both corporate and government levels in Europe and the U.S. will gradually tighten their control over the international trade flows of strategically important tungsten resources.

Worth highlighting, Jiaxin International Resources recently released its interim results, reporting first-half revenue of HK$2.703 billion, a surge of 2,039.9% year-on-year. Net profit attributable to shareholders reached HK$1.538 billion, reversing a year-ago loss, with an interim dividend of HK$1.87 per share. During the period, the group produced over 4,000 tonnes of 65% scheelite concentrate, and thanks to the rise in tungsten concentrate prices during the period, the company's performance posted notable growth.