On August 17, JIAXIN INTL RES rose 5.36% in regular trading, trading at HK$62.0/share, with turnover of approximately HK$40.10 million.

On the news front, the company's board is scheduled to approve its interim results for the six months ended June 30 on August 24. The company previously issued a positive profit alert, forecasting shareholders' attributable net profit of approximately HK$14.5 billion to HK$15.5 billion for the first half, representing a significant turnaround from a net loss of approximately HK$6 million in the same period last year. The strong earnings are primarily driven by commercial mining and production of tungsten concentrate, coupled with a substantial year-over-year increase in average tungsten concentrate selling prices.

Additionally, UBS recently initiated coverage with a Buy rating and a target price of HK$88.7, projecting concentrate output of 8,600 tonnes this year, rising to 11,100 and 11,700 tonnes in subsequent years as the second phase ramps up, with gross margin expected to reach 77%. The company also announced a share repurchase plan of up to HK$200 million for the second half of the year.

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