On August 5, JIAXIN INTL RES rose 5.15% in regular trading, trading at 57.9 HKD/share, with turnover of approximately 52.25 million HKD.

On the news front, domestic tungsten prices have shown signs of rebounding after stabilizing from a July decline, while overseas premium rates have reached historical highs. UBS initiated coverage on the company with a \"Buy\" rating and a target price of 88.7 HKD, corresponding to approximately 12x forecast P/E for 2027. The bank projects concentrate output of 8,600 tons this year, rising to 11,100 and 11,700 tons in 2027 and 2028 respectively as the second-phase expansion comes online, with gross margin expected to reach 77% by 2028.

Additionally, the company issued a positive profit alert indicating H1 net profit attributable to equity holders of approximately 14.5 to 15.5 billion HKD, a significant turnaround from a net loss of approximately 6 million HKD in the prior-year period, driven by commercial tungsten concentrate production and higher average selling prices. The company also announced an H2 share buyback plan of up to 200 million HKD.

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