Core Viewpoint - The stock of Jaxin International Resources (03858) has seen a price increase, attributed to the stable performance of the tungsten market and rising prices of tungsten concentrates [1] Company Summary - Jaxin International Resources' stock rose over 5% during trading, currently at HKD 32.22, with a trading volume of HKD 30.83 million [1] - The company is positioned to benefit from the increasing demand for tungsten due to supply constraints and rising prices in the market [1] Industry Summary - The tungsten market continues to show a stable trend, with 65% black tungsten concentrate priced at CNY 327,000 per standard ton, up 128.7% since the beginning of the year [1] - The price for 65% white tungsten concentrate is reported at CNY 326,000 per standard ton, reflecting a 129.6% increase year-to-date [1] - Factors such as resource depletion, environmental regulations, and national control over tungsten mining contribute to limited tungsten supply, leading to a tight supply-demand balance and potential for further price increases [1]

Group 1 - Jiaxin International Resources (03858.HK) saw an afternoon increase of over 6% [1] - As of the report, the stock rose by 6.52%, reaching HKD 38.22 [1] - The trading volume amounted to HKD 52.45 million [1]

Group 1 - The core viewpoint of the article highlights the significant increase in tungsten prices since October, with various tungsten products experiencing substantial price hikes, indicating a strong market demand and supply constraints [1] - As of October 28, the price of black tungsten concentrate reached 288,000 yuan per ton, up 3,000 yuan from the previous trading day, while APT (Ammonium Paratungstate) prices rose to 425,000 yuan per ton, an increase of 7,000 yuan [1] - Tungsten powder prices also saw an increase, reaching 635 yuan per gram, up 5 yuan from the previous day, with prices having doubled compared to the beginning of the year [1] Group 2 - Huaxi Securities projects that tungsten prices will continue to remain high, with historical peaks expected, despite potential new supply from overseas that may take time to impact the market [1] - The current tight supply situation for tungsten is expected to provide support for prices, with future attention needed on the annual tungsten concentrate quota issuance [1] - Jiaxin International Resources, based in Kazakhstan, focuses on developing the Bakuta tungsten mine project, positioning itself to benefit from the rising tungsten prices [1]

Core Viewpoint - The stock of Jiexin International Resources (03858) has risen over 6%, driven by a significant increase in tungsten prices since October, with prices doubling compared to the beginning of the year [1] Company Summary - Jiexin International Resources is focused on developing the Bakuta tungsten mine project in Kazakhstan [1] Industry Summary - Tungsten products have seen a rapid price increase, with black tungsten concentrate quoted at 288,000 yuan/ton, up 3,000 yuan/ton from the previous trading day, and APT quoted at 425,000 yuan/ton, up 7,000 yuan/ton [1] - Tungsten powder prices have also increased to 635 yuan/gram, up 5 yuan/gram [1] - According to Huaxi Securities, tungsten prices have been consistently high since early 2025, reaching historical highs, with tight supply conditions expected to support prices in the future [1] - Although there is potential new supply overseas, it will take time to impact the market, and the current tight supply situation is expected to persist [1]

Group 1 - Tungsten is experiencing a significant price increase, with prices doubling compared to the beginning of the year, including black tungsten concentrate rising by 101.4% to 143,000 CNY/ton [1] - The supply side is tightening due to reduced mining quotas and slower production rates, while domestic demand remains stable, primarily driven by essential purchases [1] - Major companies are managing cost pressures through diversified strategies, effectively transmitting costs without being passively affected [1] Group 2 - The Ministry of Commerce's announcement regarding the export conditions for tungsten, antimony, and silver indicates a positive signal for antimony exports, with expectations for a rebound in prices [2] - The rapid price increase of tungsten in the third quarter has enhanced the pricing power of downstream industries, leading to significant earnings growth for integrated companies [2] Group 3 - Jiaxin International Resources focuses on the Bakuta tungsten mine project in Kazakhstan, with expectations for profit growth due to rising tungsten prices [3] - Luoyang Molybdenum's production guidance for 2025 indicates an expected tungsten metal output of 6,500 to 7,500 tons [3]

FF301 II. 已發行股份及/或庫存股份變動 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 佳鑫國際資源投資有限公司 呈交日期: 2025年11月3日 I. 法定/註冊股本變動 不適用 FF301 第 1 頁 共 10 頁 v 1.1.1 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03858 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 455,700,000 | | 0 | | 455,700,000 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 455,700,000 | | 0 | | 455,700,000 | ...

Core Viewpoint - The tungsten sector's third-quarter reports have exceeded market expectations, leading to a significant increase in the stock price of Jiaxin International Resources [1] Company Summary - Jiaxin International Resources (03858) saw its stock price rise over 7%, currently trading at 39.22 HKD with a transaction volume of 53.51 million HKD [1] - The company is focused on developing the Bakuta tungsten mine project in Kazakhstan [1] Industry Summary - Xiamen Tungsten's third-quarter net profit attributable to shareholders reached 810 million CNY, a year-on-year increase of 109.85% [1] - China Tungsten High-Tech's third-quarter net profit excluding non-recurring items was 297 million CNY, up 725.45% year-on-year [1] - Recent price increases in the tungsten market include a 3.73% rise in black tungsten concentrate prices to 278,000 CNY/ton and a 3.70% increase in ammonium paratungstate prices to 406,000 CNY/ton [1] - The supply side is experiencing a reduction in tungsten concentrate mining quotas, leading to a slowdown in production and tightening circulation in the industry [1] - Domestic demand remains stable, primarily driven by essential procurement [1] - In late October, major companies announced long-term contract prices, with 55% black tungsten concentrate prices around 273,000 CNY/standard ton, supporting high price fluctuations [1]

Group 1 - The core viewpoint of the article highlights the strong performance of the tungsten sector, with companies like Xiamen Tungsten and China Tungsten High-Tech reporting significant profit increases in their third-quarter results [1] - Jaxin International Resources (03858) saw its stock price rise over 7%, currently trading at 39.22 HKD, with a trading volume of 53.51 million HKD [1] - Xiamen Tungsten reported a net profit attributable to shareholders of 810 million CNY for Q3, representing a year-on-year increase of 109.85% [1] Group 2 - China Tungsten High-Tech announced a non-deductible net profit of 297 million CNY for Q3, marking a year-on-year increase of 725.45% [1] - The price of black tungsten concentrate has increased by 3.73% to 278,000 CNY per ton, while ammonium paratungstate prices rose by 3.70% to 406,000 CNY per ton [1] - The supply side is experiencing a reduction in tungsten concentrate mining indicators, leading to a general slowdown in production and tightening circulation within the industry [1]

Core Viewpoint - Jaxin International Resources (03858) has seen a stock price increase of over 6%, currently trading at HKD 36.88, with a trading volume of HKD 22.0075 million, driven by a tight market for tungsten concentrate and rising prices [1] Company Summary - Jaxin International Resources' core asset is the Bakuta tungsten mine, which has already commenced production and is expected to increase output in the future, benefiting from rising tungsten prices and potentially leading to rapid profit growth [1] Industry Summary - The tungsten concentrate market is experiencing a tight supply and strong pricing, with the price of 65% black tungsten concentrate reported at CNY 280,000 per standard ton, reflecting a week-on-week increase of 3.3% and a year-to-date increase of 95.8% [1] - The demand for tungsten is anticipated to grow due to several potential growth points, including its use in controlled nuclear fusion, where tungsten and its alloys are ideal candidate materials due to their excellent high-temperature performance, radiation resistance, and mechanical properties [1]

Core Viewpoint - Jiajin International Resources (03858) has seen a stock price increase of over 6%, currently trading at HKD 36.88, with a transaction volume of HKD 22.0075 million, driven by a tight market for tungsten concentrate and rising prices [1] Company Summary - Jiajin International's core asset is the Bakuta tungsten mine, which has already commenced production and is expected to increase output in the future, benefiting from rising tungsten prices and potentially leading to significant profit growth [1][1] Industry Summary - The tungsten concentrate market is currently characterized by a sellers' market, with a strong price performance. The price of black tungsten concentrate is reported at CNY 280,000 per standard ton, reflecting a week-on-week increase of 3.3% and a year-to-date increase of 95.8% [1] - The demand for tungsten is anticipated to grow due to several potential growth points, including its application in controlled nuclear fusion, where tungsten and its alloys are ideal materials due to their excellent high-temperature performance, radiation resistance, and mechanical properties [1][1]