On June 3, Jiaxin International Resources rose 5.8% in regular trading, trading at HK$93.0 per share, with trading volume of approximately HK$136 million.

On the news front, domestic tungsten prices have shown stabilization after a short-term decline, reaching 416,000 yuan per ton as of May 29, with trial price increases emerging across the supply chain. CICC issued a research note stating that tungsten's strategic attributes are strengthening, supply remains tight, and prices are expected to recover. Meanwhile, the US is accelerating the rebuild of its domestic tungsten supply chain, as high-intensity military ammunition consumption from the Middle East conflict since late February continues to drive long-term demand for critical raw materials including tungsten.

Jiaxin International Resources derives all its revenue from white tungsten concentrate produced at the Bakuta mine in Kazakhstan, directly benefiting from tungsten price trends. The company commenced commercial production in April of the previous year, producing 5,008 tons and selling 4,879 tons. Additionally, the company recently signed a non-binding MOU with Pangaea Mining Limited Partnership Fund to explore mineral resource development opportunities in Kazakhstan's Karaganda region, further bolstering market expectations for its growth trajectory.

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