Changes in Hong Kong stocks | Jiaxin International Resources (03858) rose more than 6%, domestic tungsten prices showed signs of price increases, and the company's production increase is expected to boost gross profit margin

The Zhitong Finance App learned that Jiaxin International Resources (03858) rose more than 6%. As of press release, it had risen 6.12% to HK$55.5, with a turnover of HK$122 million.

According to the news, the CICC Research Report points out that currently emerging demand for AI, high-end equipment, etc. is growing rapidly, and profit margins in key areas of China's tungsten industry chain, such as downstream and midstream, continue to improve. Domestic tungsten prices showed signs of rising again after falling and stabilizing in July, and the overseas premium rate has also reached a record high. The bank believes that China's leading tungsten industry is expected to see a sharp rise in volume and price, and the current valuation level is already very attractive. In addition, according to UBS forecasts, Jiaxin International's concentrate production this year is 8,600 tons. With the second phase of production, production will increase to 11,000 tons and 11,700 tons in 2027 and 2028, and gross margin will increase to 77% in 2028.