Changes in Hong Kong stocks | Jiaxin International Resources (03858) rose more than 6% and plans to repurchase up to HK$200 million in the second half of the year, tungsten ore still has production growth expectations

The Zhitong Finance App learned that Jiaxin International Resources (03858) rose more than 6% this morning. As of press release, it rose 5.83% to HK$47.96, with a turnover of HK$42.3214 million.

According to the news, Jiaxin International Resources announced last night that it plans to implement a share repurchase plan for the second half of 2026, and plans to use up to HK$200 million for the share repurchase plan. The Board of Directors believes that implementing the share repurchase plan demonstrates its firm confidence in the company's intrinsic value and long-term prospects, and will enable the company to optimize its capital structure and enhance shareholder returns.

The company previously announced Yingxi on July 10. The net profit attributable to equity holders is estimated to be around HK$1.45 billion to HK$1.55 billion in the first half of 2026, reversing losses significantly from the previous year. Huaxin Securities believes that the production capacity of the Bakuta tungsten mine is climbing, and production is expected to continue to be released. Considering that the current tungsten price is much higher than the same period last year, the company's tungsten ore still has production growth expectations. For the first time, it was covered and given a “buy” investment rating.