JIAXIN INTL RES (03858) saw its shares rise more than 9% against the broader market trend. At the time of writing, the stock was up 6.57%, trading at HK$79.5 with a turnover of HK$115 million. On the news front, the average price for comprehensive tungsten powder on the Yangtze River market was reported at 1,545,000 yuan per tonne on February 4, a significant increase of 25,000 yuan from the previous trading session, setting a new recent high. According to an analyst report from Jianghai Securities, a combination of factors including tightening resource availability, extended development cycles, and insufficient capital investment are collectively strengthening the rigid constraints on the tungsten supply side, laying a solid foundation for a medium to long-term upward shift in price benchmarks. Public information indicates that JIAXIN INTL RES is a tungsten mining development company headquartered in Kazakhstan, with its core asset being the Bakuta Tungsten Mine project. Analysts at First Shanghai believe the company is at a critical inflection point for value realization, possessing world-class core assets where its resource endowment underpins long-term growth potential. The company represents a rare pure-play tungsten mining investment in the market, with the current share price offering a high margin of safety and attractiveness.