公开资料显示，佳鑫国际资源是扎根于哈萨克斯坦的钨矿公司，专注于开发集团的巴库塔钨矿项目，根 据弗若斯特沙利文的资料，截至2024年12月31日，那是一个全球最大型三氧化钨(WO3)矿产资源量露天 钨矿。根据弗若斯特沙利文的资料，截至2024年12月31日，集团的巴库塔钨矿亦是全球第四大WO3矿 产资源量钨矿(包括露天钨矿及地下钨矿)，在单一钨矿中拥有世界上最大的设计钨矿产能。 据悉，佳鑫国际资源的巴库塔钨矿位于阿拉木图州Yenbekshikazakh区，可从哈萨克斯坦阿拉木图和连 接哈萨克斯坦与中国的霍尔果斯口岸经国道前往。此外，连接霍尔果斯与阿拉木图的铁路位于巴库塔钨 矿以北约20公里处，预计产品能顺利运输。公司的巴库塔钨矿项目亦有现成且可负担的水电供应。凭借 公司丰富的钨资源量及储量、预期具成本效益的生产以及位处哈萨克斯坦的便利位置，公司计划继续将 巴库塔钨矿项目发展成为世界级钨矿开采项目。 智通财经APP获悉，佳鑫国际资源(03858)首挂上市，公告显示，每股定价10.92港元，共发行1.098亿股 股份，每手400股，所得款项净额约11.99亿港元。截至发稿，涨108.79%，报22.8港元，成交额3 ...

Group 1 - The core viewpoint of the news is that Jiaxin International Resources (03858) has successfully completed its IPO subscription, raising significant interest with a subscription amount of HKD 144 billion, leading to an oversubscription of nearly 1200 times [1] - The company plans to issue 110 million shares, with 10% allocated for public offering at a price of HKD 10.92 per share, aiming to raise approximately HKD 1.2 billion [1] - Jiaxin International Resources is focused on developing the Bakuta tungsten mine project in Kazakhstan, which is projected to be one of the largest tungsten ore resources globally by December 31, 2024 [1] Group 2 - Financial data indicates that the company has incurred net losses of HKD 94.5 million, HKD 80.1 million, HKD 177 million, and HKD 7 million for the years ending December 31, 2022, 2023, 2024, and the six months ending June 30, 2025, respectively [2] - The Bakuta tungsten mine project is expected to commence its first phase of commercial production in April 2025, with a targeted mining and mineral processing capacity of 3.3 million tons of tungsten ore for that year [1][2]

Group 1 - The company, Jaxin International Resources, plans to conduct an initial public offering (IPO) from August 20 to August 25, 2025, aiming to globally offer 110 million shares at a price of HKD 10.92 per share, with approximately 10% allocated for Hong Kong and 90% for international sales [1] - The company is based in Kazakhstan and focuses on developing the Bakuta tungsten mine project, which is reported to be the largest open-pit tungsten mine in terms of tungsten trioxide (WO3) resources globally as of December 31, 2024 [1][4] - The Bakuta tungsten mine is also noted as the fourth largest WO3 resource mine globally, with the largest designed tungsten production capacity in a single mine [1] Group 2 - The company has entered cornerstone investment agreements with several investors, including China Cinda (Hong Kong) Asset Management and others, agreeing to purchase shares worth approximately USD 7.638 million, translating to about 54.9 million shares at the IPO price [2] - The estimated net proceeds from the global offering, after deducting underwriting fees and expenses, are expected to be around HKD 1.088 billion, with 55% allocated for capital costs related to the Bakuta tungsten mine project [3] - The company reported net losses of HKD 94.5 million, HKD 80.1 million, HKD 177 million, and HKD 7 million for the years ending December 31, 2022, 2023, 2024, and the six months ending June 30, 2025, respectively, indicating a focus on preparing for commercial production [4]

Group 1 - The company, Jiexin International Resources, plans to conduct a global offering of 110 million shares from August 20 to August 25, 2025, with a share price set at HKD 10.92 per share [1] - The company is focused on the Bakuta tungsten mine project in Kazakhstan, which is recognized as one of the largest tungsten ore resources globally, with a projected mining and mineral processing capacity of 3.3 million tons of tungsten ore in 2025 [1][4] - The company has entered cornerstone investment agreements with several investors, including China Cinda Asset Management and others, to raise approximately USD 76.38 million through the sale of shares [2] Group 2 - The estimated net proceeds from the global offering are approximately HKD 1.088 billion, which will be allocated as follows: 55% for the Bakuta tungsten mine project development, 10% for expanding ammonium paratungstate (APT) production capacity, 25% for repaying part of the bank loans, and 10% for working capital and other general corporate purposes [3] - The company has reported losses in the past years, with net losses of HKD 94.5 million, HKD 80.1 million, HKD 177 million, and HKD 7 million for the years ending December 31, 2022, 2023, 2024, and the six months ending June 30, 2025, respectively [4]

Group 1 - The company, Jaxin International Resources, plans to globally offer approximately 110 million shares, with 10.9812 million shares available in Hong Kong and 98.8276 million shares for international offering, along with a 15% over-allotment option [1] - The offering price is set at HKD 10.92 per share, with a trading unit of 400 shares, and the shares are expected to start trading on the Hong Kong Stock Exchange on August 28, 2025 [1] - The company is focused on the Bakuta tungsten mine project in Kazakhstan, which is projected to be the largest open-pit tungsten mine in terms of WO3 mineral resources by December 31, 2024 [1] Group 2 - The company has entered into cornerstone investment agreements, with cornerstone investors agreeing to subscribe for shares amounting to approximately USD 76.38 million under certain conditions [2] - It is estimated that the company will net approximately HKD 1.0877 billion from the global offering, assuming the over-allotment option is not exercised [2] - The net proceeds from the offering will be allocated as follows: approximately 55% for capital costs of the Bakuta tungsten mine project, 10% for developing ammonium paratungstate (APT) production capacity, 25% for repaying part of the bank loans denominated in euros, and 10% for working capital and other general corporate purposes [2]

据港交所8月11日披露，佳鑫国际资源投资有限公司(简称：佳鑫国际)通过港交所上市聆讯，中金公司 （601995）为独家保荐人。 | [编纂]項下的[編纂]數目 | .. | [編纂]股股份(視乎[編纂]行使與否而定) | | --- | --- | --- | | 香港[編纂]數目 | .. | [编纂]股股份(可予[編纂]) | | 國際[編纂]數目 | ·· | [编纂]股股份(可予[編纂]) | | 嚴昌 編纂] | .. | 每股[編纂][編纂]港元,另加1.0%經紀佣金、 | | | | 0.0027％證監會交易徵費、0.00565％聯交所交 | | | | 易費及0.00015%會財局交易徵費(須於申請時 | | | | 以港元繳足,多繳股款可予退還) | | [編纂] : [編纂] | | | | 獨家保薦人·[編纂] | | | | Ala I | | | 招股书显示，佳鑫国际是扎根于哈萨克斯坦的钨矿公司，专注于开发巴库塔钨矿("巴库塔钨矿项目")，根据弗 若斯特沙利文的资料，截至2024年12月31日，该矿是一个全球最大型三氧化钨(WO3)矿产资源量露天钨矿。 根据同一资料，截至2024年1 ...

Investment Rating - The report gives a "Buy" rating for the tungsten industry, predicting that the stock price will outperform the Shanghai Composite Index by 15% or more within the next six months [33]. Core Insights - The Bakuta tungsten mine is expected to begin commercial production in Q2 2025, contributing significantly to global tungsten supply [4][6]. - The mine has favorable geological conditions and is one of the largest tungsten resources globally, with an estimated resource of 109.5 million tons containing 0.211% WO3 [3][11]. - The global tungsten supply has been declining over the past six years, and the Bakuta mine's phase two production is expected to contribute 13% to global output by 2028 [6][28]. Summary by Sections Bakuta Tungsten Mine Overview - The Bakuta tungsten mine is located in Kazakhstan and is one of the largest open-pit tungsten mines globally, with a significant resource endowment [3][11]. - The mine's estimated resources include 10.95 million tons of ore, translating to approximately 231,500 tons of WO3 [3][11]. Production Timeline - Phase one of the Bakuta project is set to start commercial production in Q2 2025, with a target capacity of 3.3 million tons of tungsten ore per year [4][20]. - Phase two is planned for Q1 2027, which will increase production capacity to 4.95 million tons per year [4][20]. Cost Advantages - The Bakuta mine benefits from lower operational costs due to its open-pit nature and favorable local conditions for land use, water, electricity, and labor compared to other major tungsten-producing countries [23][24]. - The estimated operational cash cost for 2025 is projected to be approximately RMB 463.2 million, with a unit cost of RMB 156 per ton of ore [23][24]. Global Supply Dynamics - Global tungsten production is expected to remain stable, with a slight increase in 2024, but the Bakuta mine's contribution will be crucial as it ramps up production [6][28]. - The report highlights that China's tungsten production dominates the market, accounting for about 83% of global output [28]. Beneficiary Companies - Companies expected to benefit from the Bakuta tungsten mine's production include Zhangyuan Tungsten, Zhongtung High-tech, and Xiamen Tungsten, among others [7][30].