Movement Alert｜JIAXIN INTL RES Falls 5.67% in Regular Trading, Tungsten Concentrate Price Drops Combined with Short-Term Profit-Taking

Market Focus07-28

On July 28, JIAXIN INTL RES fell 5.67% in regular trading, trading at 54.15 HKD/share, with turnover of approximately 18.88 million HKD.

On the news front, tungsten concentrate prices have recently retreated, with the latest quote at approximately 416,600 yuan/ton, representing a 4.72% decline on a sequential basis. Market participants remain divided on near-term tungsten price trends. Additionally, the stock had rallied significantly from approximately 45 HKD to the 57-58 HKD range between July 22 and July 27, creating substantial short-term profit-taking pressure.

For context, UBS recently initiated coverage with a Buy rating and a target price of 88.7 HKD, forecasting refined ore output of 8,600 tons this year, rising to 11,100 and 11,700 tons in subsequent years as phase-two production ramps up, with gross margin expected to reach 77%. Institutional estimates suggest a global tungsten supply-demand gap of 23,000 tons, indicating limited downside for tungsten prices over the medium term.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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