JIAXIN INTL RES (03858) surged over 9%. As of press time, the stock rose 9.26% to HK$32.8, with trading volume of HK$33.57 million.

On the news front, tungsten prices continue to climb steadily, with major tungsten product prices essentially doubling compared to 2024 average levels. Data shows that on September 3, 65% black tungsten concentrate was priced at 278,000 yuan per standard ton, up 94.4% from the beginning of the year.

The company is based in Kazakhstan and focuses on tungsten resource development. As of the first half of this year, the Bakuta tungsten mine has resources of 107.5 million tons of tungsten ore with a grade of 0.211%, containing 227,000 tons of WO₃, and reserves of 68.4 million tons of tungsten ore with a grade of 0.206%, containing 140,800 tons of WO₃.

Analysts noted that the company's core asset is the Bakuta tungsten mine, which is currently in production with expectations for future production increases. Benefiting from rising tungsten prices, the company's profits are expected to grow rapidly.