JIAXIN INTL RES (03858) saw its shares surge more than 7% during the trading session, with cumulative gains for the month already exceeding 80%. At the time of writing, the stock was up 6.96%, trading at HK$85.35, with a turnover of HK$122 million.
On January 19, the average price of comprehensive tungsten powder on the Yangtze River reached 1.2 million yuan per ton, rising by 15,000 yuan per ton in a single day to hit a record high. Jianghai Securities indicated that a "stockpiling rush" has emerged in the spot market, with some downstream enterprises needing to pay premiums of up to 20% to secure supply, reflecting an extremely tight supply-demand imbalance. The market trend exhibits a "stair-step rise" pattern, signaling strong market expectations for a medium to long-term shortage. Guojin Securities believes that, against the backdrop of increased strategic stockpiling overseas, tungsten may be accorded a higher priority.
Public information shows that JIAXIN INTL RES is a tungsten mining developer headquartered in Kazakhstan, with its core asset being the Bakuta Tungsten Mine project. First Shanghai asserts that the company is at a critical inflection point for value release, possessing world-class core assets, with its resource endowment laying a solid foundation for long-term growth. The company represents a rare pure-play tungsten mining stock in the market, and its current share price offers a high margin of safety and attractiveness.
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