On July 7, Jiaxin International Resources fell 5.42% in regular trading, trading at HK$52.9/share, with turnover of HK$25.98 million. The stock extended its decline since late June, having retreated sharply from its 52-week high of HK$176.20.

On the news front, institutions recently noted that continued loosening in the tungsten spot market is suppressing short-term price elasticity, with the slower pace of tungsten price recovery weighing on related equities. The company's core asset is the Bakyuta tungsten mine in Kazakhstan, the world's largest open-pit tungsten mine by WO3 resource volume. Current dynamic P/E stands at approximately 87x, with increasing market divergence over near-term tungsten price expectations.

Industry research reports indicate that the long-term bullish logic for tungsten prices remains intact, but the spot market still needs to digest prior inventory overhang in the near term. Tungsten concentrate prices have seen a notable weekly decline, with the broader sector under pressure.

(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.)