Shares of JIAXIN INTL RES (HKEX: 03858) experienced a notable uptick in afternoon trading, climbing more than 6%.

At the time of writing, the stock was up 6.16% to HK$48.1, with a trading turnover of HK$102 million.

The move follows a company announcement regarding its earnings expectations for the first half of the year.

Driving Factors Behind the Share Price Movement

The company has announced that it expects to report a net profit attributable to equity shareholders in the range of approximately HK$1.45 billion to HK$1.55 billion for the six-month period ending June 30, 2026.

This represents a significant turnaround from a net loss of about HK$6 million attributable to shareholders in the same period a year earlier.

Reasons for the Substantial Profit Improvement

Based on currently available information, the profit for the period is primarily attributed to the commercial mining and production of tungsten concentrate.

The substantial increase in net profit is attributed to two key factors.

First, the company commenced commercial production in April 2025, meaning the comparative period last year had less than two months of production, whereas the current period benefits from a full six months of operations.

Second, following the start of commercial production, the average selling price for tungsten concentrate saw a significant rise during the period.

The company stated that it is currently advancing its production and operational plans in an orderly manner according to its annual schedule, with all previously disclosed matters progressing steadily.