On August 18, JIAXIN INTL RES rose 5.18% in regular trading, trading at HK$66.2/share, with turnover of HK$41.19 million.

On the news front, the company is scheduled to release its interim results on August 24, with the board meeting set to approve financials for the six months ended June 30. The company previously issued a positive profit alert, forecasting net profit attributable to equity holders of approximately HK$14.5 billion to HK$15.5 billion for the first half, representing a significant turnaround from a net loss of approximately HK$6 million in the same period last year. The profit surge is primarily driven by commercial tungsten concentrate mining and production, coupled with a substantial year-over-year increase in average tungsten concentrate selling prices.

Additionally, the global tungsten supply-demand balance is expected to tighten further, supported by emerging demand from AI PCB micro-drills, rods, and tungsten hexafluoride applications. UBS has initiated coverage with a Buy rating and a target price of HK$88.7, projecting production growth to 11,100 tonnes by 2027 and gross margin expansion to 77% by 2028.

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