Changes in Hong Kong stocks | Jiaxin International Resources (03858) has risen more than 13% and has risen nearly 3.5 times from the offering price. The rise in tungsten prices has exceeded expectations or significantly boosted the company's performance

The Zhitong Finance App learned that the increase of Jiaxin International Resources (03858) increased by more than 13%, up nearly 350% from the offering price of HK$10.92. As of press release, it rose 12.29% to HK$48.44, with a turnover of HK$93,0492 million.

According to news, Chinatungsten Online data shows that on December 17, the price of tungsten powder rose 10,000 yuan/ton. The latest price reached 1 million yuan/ton, up 216.5% from the beginning of the year. CICC said that due to domestic effects such as declining quality and stricter standardization requirements, supply-side production contraction pressure is increasing, and at the same time, there is uncertainty about the commissioning schedule of other major overseas incremental projects, compounded by ongoing geographical conflicts and rising overseas inflationary pressure, the increase in global tungsten supply requires higher incentive prices. Therefore, it believes that tungsten prices are expected to continue to operate strongly in the short term and continue to hit new highs.

The Zhitong Finance App said, “Tungsten prices soared 220% to a record high during the year. Does Jiaxin International (03858), which has the most flexible standard, have 10 times more room?” China pointed out that in terms of production, Jiaxin International will produce 13,700 tons of concentrate in 2027; in terms of price, the market generally expects the medium- to long-term price of tungsten concentrate to be 450,000 to 500,000 yuan/ton; in terms of cost, the cost per ton of concentrate can be as low as 49,000 yuan in 2027. This means that Jiaxin International's gross profit in 2027 may reach 5.5 billion to 6 billion yuan. If the price of tungsten further exceeds expectations, it can bring more profit to Jiaxin International.