Jiaxin International Resources (03858) Fa Yingxi expects net profit attributable to shareholders of about 1.45 billion to HK$1.55 billion for the medium term to turn a year-on-year loss into profit

According to Zhitong Finance App News, Jiaxin International Resources (03858) announced that the Group expects to obtain a net profit of about HK$1.45 billion to HK$1.55 billion in the six months ending June 30, 2026, turning a loss into a profit compared to the net loss attributable to equity holders of the company of about HK$6 million for the same period in 2025.

According to currently available information, profits during the relevant period were mainly due to the Group's commercial mining and production of tungsten concentrate during the relevant period. The net profit attributable to equity holders increased significantly during the relevant period due to the following two reasons: (1) the Group commenced commercial operation in April 2025, and in the same period in 2025, the company achieved 6 months of production time; (2) after commercial commissioning, the average selling price of tungsten concentrate rose sharply during the relevant period. Currently, the Group is promoting production and operation in an orderly manner according to the annual plan, and various disclosed matters are also being steadily promoted.