Core Viewpoint - Jaxin International Resources (03858) has seen its stock price rise over 4%, reaching a new high since its listing, with a current price of 87.8 HKD and a trading volume of 35.04 million HKD [1] Group 1: Market Conditions - As of January 26, tungsten concentrate prices are approaching 550,000 RMB per ton, ammonium paratungstate prices have surpassed 800,000 RMB per ton, and tungsten powder prices have exceeded 1,300,000 RMB per ton [1] - The supply of tungsten remains tight due to the lack of indicators being issued and a recent clearance of scrap tungsten before the holiday, which has strengthened price support [1] Group 2: Strategic Developments - Recent proposals from U.S. bipartisan lawmakers to establish a "Strategic Resilience Reserve" with a scale of 2.5 billion USD may increase the priority of tungsten in overseas strategic stockpiling [1] Group 3: Company Positioning - First Shanghai indicates that the company is a rare pure tungsten mining target in the market, with its current stock price offering high safety margins and attractiveness [1] - CICC's research report highlights the company's focus on the Bakuta tungsten mine in Kazakhstan, expressing strong confidence in the company due to the expected tight global tungsten supply-demand balance and the potential for steady price increases [1] - The company is positioned to become a leading player in the mining industry in Central Asia, supported by four core advantages [1]